Pixian Douban Shang is also going to IPO. Investment Circle-Tiantian IPO learned that recently, Sichuan Dandan Pixian Douban Group Co., Ltd. issued shares for the initial public offering and listing guidance filing.

Pixian Douban Sauce is also going to IPO.

Investment Circle-Tiantian IPO learned that recently, Sichuan Dandan Pixian Douban Group Co., Ltd. (abbreviated as: Dandan Douban) issued shares for the initial public offering and listed guidance filing. If progress goes well, Dandan Douban will become the "first stock of Douban sauce in Pixian".

Dandan Douban is a Sichuan founder - Yue Ping. In 1984, 39-year-old Yue Ping gave up beekeeping and started from a small workshop, leading Dandan Douban to become a Douban sauce company with an annual income of 1 billion yuan. Today, Dandan Douban's main products include more than 40 seasonings, including Pixian bean paste, hot pot base , kimchi, multi-functional compound seasonings, etc. Yue Ping, 77 years old this year, is currently the president of Pixian Douban Industry Association.

At this point, we see a large army of Sichuan IPOs - from Tianwei Food to Qianhe Flavor Industry , and Yaomazi , Dian'er and other foods are coming. As Sichuan cuisine is popular all over the world, Sichuan and Sichuan have also nurtured a group of seasonings IPOs that you may not have heard of.

77-year-old Sichuan man sells Douban sauce

sells 1 billion yuan a year and is preparing to IPO

Dandan Douban story, let's start with Yue Ping, the founder of .

Yue Ping was born in 1945 and is 77 years old this year. Before 1984, Yue Ping, who was born in the rural area, had been in the beekeeping business. He had traveled to Yunnan, Shaanxi, Henan, Qinghai, Ningxia, Xinjiang and other places. However, beekeeping is not only harsh, but also has high requirements for the climate. At that time, Yue Ping was 39 years old. In order to support his family and support his two sons to go to school, he always wanted to do something and find a new way out.

information shows that during a chat with my nephew, Yue Ping found a new direction - at that time, his nephew worked in Douban in Juancheng and told Yue Ping to earn at least ten yuan a day by himself. So Yue Ping got two friends, rented a house in the village, and started the Doubanshu business. This is also the first batch of Douban private enterprises in Pixian County. It is reported that at that time, there were only about 20 Douban enterprises in , Pizhou , and most of them were state-owned enterprises.

However, because the bean paste has no sales, the business is not going smoothly. Even though Murakami’s house rent is only 60 yuan a month, they have not even earned rent. After two years of losses, Yue Ping and his partners took turns to operate, and the whole family worked for one year. By drawing lots, Yue Ping decided the business order. Yue Ping won the third year. When it was Yue Ping's turn to operate, as the initiator, he did not want his partners to lose money, so he took out the money for beekeeping to fill the factory's losses.

turnaround occurred in 1988, and the Douban sauce factory continued to lose money because it had no sales. But the climate this year was not good, and pepper production in Sichuan was generally reduced, and the entire bean paste industry was extremely short of stock. Yue Ping, who prepared one year in advance, became a big pepper investor for a while. Seeing the opportunity, Yue Ping took the initiative to discuss cooperation with three collective manufacturers in Pi County, and he signed a supply contract with them with extremely low profits. At the same time, Yue Ping found an credit cooperative to make a loan of 8,000 yuan, and purchased chili peppers from credit cooperatives, Ziyang , Mianyang , Shaanxi and other places, made it into bean paste and resold it to the supply and marketing cooperative. After the payment was settled at the end of the year, the Douban Sauce Factory actually made a profit of 20,000 to 30,000 yuan, which is the first time since the factory was established.

But the good times didn't last long. In 1989, peppers were harvested nationwide. Not only did they no longer lack peppers, but their products also became unsalable, let alone Yue Ping to purchase goods. So Yueping's Douban Factory was in trouble again.

In order to find a sales channel, in 1992, Yue Ping began to frequently participate in sugar and wine fairs, set up wholesale departments in other places, and enter markets outside the province. This year, Yue Ping received millions of large orders. In the same year, Yue Ping registered the Dandan Pixian Douban Sauce trademark, "Dandan" means that the company is prosperous and . Since then, Dandan Douban has begun to appear in markets in Shandong, Yunnan, Shanxi, Ningxia, Qinghai, Tibet, Xinjiang and other places.In 2005, Dandan Douban moved to Ande Sichuan Cuisine Industrial Park in Pixian County. And in this year, Dandan Douban's sales exceeded 100 million yuan for the first time. In 2009, Dandan Douban also signed a contract with Song Dandan as the brand spokesperson, quickly gaining popularity.

In 2016, Dandan Douban was restructured into Sichuan Dandan Pixian Douban Group Co., Ltd.; in 2021, the "Dandan" green factory on Sichuan Cuisine Road in Sichuan Cuisine Industrial Park was completed, with a total planned area of ​​100 mu. According to relevant sources, last year, Dandan Douban sales exceeded 1 billion yuan.

Nowadays, Yue Ping is 77 years old, but he is still in charge of the affairs of the factory. In the 38 years since its entrepreneurship, Yue Ping has led Dandan Douban to develop from a small workshop that continues to lose money and cannot find sales, step by step to develop Dandan Douban into a leading company that mainly sells more than 40 seasonings such as Pixian Douban , hot pot base, kimchi, multi-functional composite seasonings, etc. Regarding when to retire, Yue Ping once told the media that he had not thought about this problem. "As long as you can move and your head can still turn, you will not retire." .

Pi County, Sichuan, a city of bean paste

Dandan Douban let the outside world see a low-key condiment city - Pixian. It is affiliated to Chengdu, Sichuan, and Pi County has a history of more than 4,000 years. It is the first to be famous both at home and abroad for its "Ancient Shu Capital".

When it comes to Pixian, many people will first think of Pixian bean paste. Around 1668, Pixian bean paste was found in Sichuan, and it has been passed down to this day and has become a very famous geographical protection brand.

There is a long-standing legend about the origin of Pixian Douban:

At the end of the Ming and early Qing dynasties, a person surnamed Chen wandered in Sichuan, bringing broad beans to satisfy his hunger. In special circumstances, he mixed moldy bean paste with chili peppers and found that the taste was wonderful. The Chen family then settled in Pi County to operate the brewing industry. During the Qingxi period, Chen Shouxin, a descendant of Chen's family, devoted himself to studying the making of Douban sauce, and summarized the twelve-word true secret of , "sunny on sunny days, covered in rainy days, turning during the day, and dew at night", and gradually formed Douban. The traditional hand-made techniques of Pixian Douban have been completed so far and have been passed down to this day.

Generally speaking, Pixian bean paste and other bright red peppers, second-rate green broad beans, high-quality flour, and selected edible salt are made as raw materials. They are characterized by heavy spicy flavor, bright red and oily, large peppers, and sweet aftertaste. They are used to stir-fry dishes, which are particularly color-enhancing and fragrant. They are also a must-have seasoning product in home-cooked Sichuan cuisine such as double-cooked meat, bean paste fish, Mapo tofu , fish-flavored eggplant.

At present, there are more than 70 companies in Pixian who are qualified to use the Pixian bean paste trademark, with an output value of about 20 billion yuan. Among them, Dandan, Juancheng, Jinfuhou, Manjianghong, Wangfeng and other major brands are all hundreds of millions of enterprises. It is understood that Juancheng Pixian Douban, a state-owned company, currently has revenue of about 500 million yuan, slightly second to Dandan.

As early as more than ten years ago, Pixian County actively promoted the listing of Pixian Douban Sauce, and at that time, the listed entity was planned to be Pixian Douban Sauce Co., Ltd. The company was established in April 1999 and was formed by three local state-owned backbone enterprises including Pixian Douban Factory on the basis of shareholding transformation . Its flagship product " Juancheng Brand " Pixian Douban and series of products.

In 2003, Guangdong Jianlibao Group took over the company and acquired 68% of its state-owned shares. The entry of Jianlibao is known by the industry, and Pixian Douban sounded the "listing horn". Unexpectedly, two years later, with the "defunct" of the former chairman of Jianlibao Group, Zhang Hai, the first dream of listing in Pixian County was interrupted.

In 2008, Pixian planned to take Pixian Douban Co., Ltd. as the leader, through mergers, joint ventures, cooperation and other means, foreign capital, state-owned shares, private shares, etc., jointly establish the "Sichuan Pixian Douban Group Company", and plan to operate and list it within three years. But this plan was ruined again.

On March 4 this year, the Chengdu Municipal Party Committee Rural Work Conference was held.At the meeting, a relevant person in charge of Pi County introduced that Pi County will seize the new track of the Sichuan cuisine industry. Relying on the Sichuan cuisine industry city, it will introduce leading enterprises in the fields of Central Kitchen , compound seasonings, develop functional food, ready-to-eat food, pre-made vegetables and other products, cultivate more than 50 leading agricultural industrialization enterprises, and promote the accelerated listing of "Pixian Douban".

Looking at the entire Pixian bean paste industry, there are not many companies like Dandan that have become large-scale. Now that Dandan has entered the listing guidance, more listed companies may appear in Pi County in the future.

When Sichuan cuisine is popular all over the world

Sichuan flavor army collectively rushed to IPO

Coincidentally, Sichuan has ushered in a group of spicy and fragrant IPOs in recent years.

What is impressive is that in 2019, Tianwei Food was successfully listed, becoming the first hot pot base company in A-share . The company was established in 2007 and mainly engaged in the research, development, production and sales of Sichuan-style compound seasonings. The core brands are "Dahongpao" hot pot base and " Haorenjia " Sichuan cuisine seasonings. The actual controller of the company is the founder Deng Wen and Tang Lu and his wife. As of press time, the latest market value is 18.88 billion yuan.

and Qianhe Flavor Industry. It has the "small and small leader in western soy sauce" Qianhe Flavor Industry , located in Meishan, Sichuan. Its founder is Wu Chaoqun . In 1969, Wu Chaoqun was born in Meishan, Sichuan. In 1986, he graduated from , , veterinary medicine at South China Agricultural University. Ten years later, Wu Chaoqun led his brother to start a business - Hengtai Industrial, mainly engaged in business related to the production of food additives. But Wu Chaoqun was not willing to be a raw material supplier to the giants. He began to think about how to transform caramel colors into downstream soy sauce and vinegar, so Qianhe Flavor Industry came into being. As of the close of September 16, Qianhe Flavor Industry's latest market value was 13.6 billion yuan.

In addition, there are also IPOs coming.

Akuan food , which became popular because of the hot selling of Akuan red oily skin, has begun to sprint to the "first stock of new convenience food" in A-shares. The company's establishment dates back to 2001. Chen Chaohui changed from the advertising industry to the convenience food industry and founded Baijia Food, the predecessor of Akuan Food, to provide OEM services to customers such as Three Squirrels , Baicaowei, Liziqi , and NetEase Yanxuan . Chen Chaohui was unwilling to be an OEM factory. A few years later, Akuan developed his own Internet celebrity product "Red Oily Skin". Behind Akuan are also a number of VCs/PEs, such as Qianhai Mother Fund, Tongchuang Weiye , Hillhouse Venture Capital, Maixing Investment, etc.

At the end of last year, Yaomazi Food Co., Ltd. (hereinafter referred to as Yaomazi ), which started with a pepper oil workshop, submitted the prospectus book on the GEM , and began to enter people's vision. The helmsman behind him is a couple born in the 1960s from Hongya, Sichuan. In 1992, Zhao Yuejun and his wife Gong Wanfen opened a small shop on the roadside of their hometown, using the ancestral stewing technique of pepper oil to make food, and the pepper oil became very popular.

So the couple started a pepper oil business. In 2008, Hongya County Yaomazi Food Co., Ltd. was officially established and a new pepper oil production line and oil storage equipment were established. "Yaomazi Jimazi Jimazi" gradually moved towards scale. Later, when the two sons joined the company, the symbol of Yao Mazi's family became more and more obvious. In 2019, Yao Mazi announced that she had obtained strategic financing from NetJu Capital, CICC Capital, Jue Fund and Wu Yiqi Fund.

As early as 2020, youlian Flavor Industry signed the "Strategic Cooperation Agreement for Listing", which marked another Sichuan-based company joining the listing echelon. It is reported that Youlian Flavor Industry is located in Pi County, Sichuan Province. It was established in 1993. Currently, the company owns the "Youlian" brand and "Chuanjiao" brand hot pot base, flavored fermented black beans, compound seasonings and chicken essence, etc. The variety and quality of halal foods are constantly being standardized and improved.

In the same year, Dian'er Food from Sichuan also launched a sprint to the capital market. Its main products are Sichuan-style specialty seasonings that best represent the local regional characteristics, mainly Sichuan-style composite seasonings and Sichuan-style specialty pepper oil. However, in July last year, Dingdian'er Food's first release failed.

There are more Sichuan brands emerging. Since the outbreak of the epidemic, working from home has begun to become a new way of working. Cooking at home has become a new choice for young people, and the once inconspicuous seasoning track has emerged unexpectedly. Previously, the compound seasoning brand Sichuan Wazi Food completed a round A financing of nearly 300 million yuan, led by Gaorong Capital, followed by Xiamen Jianfa and related institutions.

information shows that Sichuan Wazi Food was established in 2008. It is an early food company in Sichuan engaged in the production, research and development and sales of composite seasonings. It has now developed into a high-end intelligent manufacturing service provider for Sichuan-Division that provides one-stop customized solutions for catering companies. In 2018, Chuanwazi's business model and growth potential were attracted by the grassroots capital firm under New Hope Group , and became a strategic holding subsidiary of New Hope Group.

"Food in China, taste in Sichuan" , and the reason why Sichuan cuisine is famous all over the world is also closely related to Sichuan's rich seasonings. The condiments here are rich in raw materials, a long cooking history, and the spicy taste is addictive. After experiencing cruel competition, more and more food companies have begun to go out of Sichuan and to the whole country.

As the saying goes, food is the most important thing for the people. In the matter of eating, countless profitable businesses will always emerge.