The Morning star was so anxious that Chen Ping did not "disappear"

People have been the creation of Chen Ping's morning rush as a "star" of the express industry. But, in a flash, the star has fallen!

A few days of spring rain has more or less cooled the anger in the collectors ' minds.

March 7, in Shanghai Qingpu Fung Xi Town, Xin Fei-hong Courier company East China headquarters, a big truck in the middle of the central block in the traffic access. Collectors from everywhere gathered at the small selling shop opposite the headquarters of the company to exchange information about themselves and to see how things were going.

Their identities are different, some of the carrier Xin Feihong, some outlets to join the business, but also some of the staff of Xin Feihong they have not been paid for two months.

"Xin Feihong hands have my 50,000 yuan deposit does not retreat, in addition, January, February freight has not given me knot" in charge of Shanghai-Jinghua Road, a Xin Feihong carrier told the China Operating newspaper (blog, micro-BO) reporter.

All of this stems from a few days ago circulated in the network of a message: Xin Feihong's parent company star early in the capital chain broken and closed. This message triggers a chain reaction: all over the wenfengerdong of the carriers, franchisees and some of the money seized in the morning of the sudden rush of the merchants came to claim. The more disturbing news is that the founder Chen Ping has fled with money.

In fact, Chen did not "disappear".

March 7, Chen Ping in Shanghai to accept this reporter's interview. He admits that there is a real crisis in the morning, but the information on the web is exaggerated. "I rushed to the Shanghai headquarters yesterday to deal with the problem, we have asked the lawyers, accountants and the General Post Office of the relevant leadership, to their claims to comb, check, completed then liquidation," Chen said.

A man of The courier industry, 2009 to carry out two business, 2010 won the Alibaba 70 million yuan investment, 2011 rushed to merge Xin Feihong Courier company, people will be Chen Ping founded the morning rush as a courier industry as a "nova." But, in a flash, the star has fallen! Everyone is interested in: The morning rush in the rapid development, what happened?

The failure of mergers and acquisitions is just the bane of aggressive expansion.

The merger of Xin Feihong

A lie repeated 1000 times is the truth.

"The company dissolved, Alibaba 70 million yuan, my 50 million yuan all lost the light." Now the customer's more than 20 million yuan payment (be) franchisee illegal occupation, also can not return. More than 1400 employees have no wages for two months, I have gone bankrupt. Business has lost money, now the company is losing, I implore you to bear together, in this, sincerely to everyone say: sorry. "This is March 5, circulated on the internet is said to be a message from Chen Ping to various partners." It was this message that sparked suspicion and panic, which was repeatedly forwarded, spread, and spread. Did Chan ever send this message? Chen Ping told the China Business news reporter that he had never sent such a message. However, he said, he once gave some of the management and site to the director of the phone call, disclosed a similar message. "SMS do not know who hair, Xin Feihong people have called me to ask for money, I told them similar words." "Chan said.

Why did Chen Ping give Xin Fei Hong money? This has to start with 2011 years of cooperation between the two sides. This year, Beijing Star Morning Express Co., Ltd. and Xin Fei-Hong Express Company merged, and in east China to "star morning Rush" Xin Feihong "officially listed first branch has opened in Wenzhou." 2011 3rd, Xin Feihong posted the news on its official website.

At that time, the star morning is mainly to do for the customer's collection business (COD), and Xin Feihong to Business Express and the people of the package, the former in North China Development, the latter to South China as the base, to the East China radiation. The combination of the two makes the star morning anxious by a regional express enterprise quickly become a national network of Express enterprises.

Chen said that he is optimistic about the two major advantages of Xin Feihong: First, Xin Feihong in South China, east China has a certain foundation, its express in southern China can achieve "day up", in east China can be achieved "the next day," and secondly, although Xin Feihong is to join the main Express company, but its own more than 50 direct distribution center of the battalion, This is an excellent asset.

However, the world does not have a free lunch, mergers and acquisitions of Xin Feihong is also facing a problem: the morning of the star will have to bear Xin Feihong 40 million yuan of debt. Chen Ping also understands the risks: these 40 million dollars will probably become their "unbearable weight of Life".

In the end, Chen chose to take a gamble. "I gave Xin Feihong a total of 22 million yuan, of which 6 million yuan is used to pay the wages owed to employees, 8 million yuan to pay the freight owed to the carrier, 4 million yuan to pay for the detention of merchants, and nearly 1.6 million yuan to pay usury." Chen Ping told our correspondent, even so, Xin Feihong still has 18 million yuan of funds gap.

"Later I have no money, so the news, the carrier and some other creditors of Xin Feihong came to the door to ask for debt." Now the main default is the December carrier freight, before the settlement. "Chan said.

For the morning of the star is facing the capital chain crisis, in addition to mergers and acquisitions of Xin Feihong become a burden, another statement is: Alibaba promised to invest 70 million yuan, the actual account of only 20 million yuan. Reporters in this regard to Chen Ping, Chen denied this argument, but he also refused to disclose the actual amount of Alibaba investment. Subsequently, the reporter to Alibaba Group insiders to verify that the answer is: 70 million yuan investment has been divided into two times all to the account.

In the field of venture capital, there is a potential rule: investors and the management of the outside world when the announcement, like to expand the amount of investment publicity. The former aims to show confidence in the project and to demonstrate its strength, which is motivated by the goal of luring opponents and attracting more investors.

"The venture capital sector does not preclude such a practice, but there is another situation: the two sides have signed a framework agreement to agree on the total amount of investment, but the actual investment is divided into several stages." And once you see the investment has not been effective, the following will not follow. Bervin, a senior investor in the investment community, told our correspondent.

"Gambling" without the consent of the Board

Star Morning Emergency official website show, the company 2011 total net turnover amounted to 750 million yuan. At present, there are more than 150 operations and distribution centers, more than 3,800 outlets, 28,100 employees, 5000 motor vehicles, motorcycle 19000 units, daily processing volume of 130,000 votes.

A puzzling problem is that Alibaba as a backer, in the industry has many resources, at the same time has 750 million yuan turnover of the company, express industry "veteran" Why Chen Ping will fall in this only tens of millions of yuan arrears?

To this question, Chen Ping told reporters a little-known information. "In fact, the acquisition of Xin Feihong has not been approved by the board." Because the board does not agree with my plan, and I am very optimistic about this cooperation, so I personally "borrow" to the Xin Feihong 22 million yuan, the money is my own. "Chan said.

According to Chen Ping, the source of the crisis is that he has privately received the hot potato, Xin Feihong, and since the expense of 22 million yuan for the Xin Feihong debt. Later, because the cooperation is not ideal, the fund gap is getting bigger. And because the board did not approve the merger, so refused to pay to the Xin Feihong, which eventually led to a chain reaction.

Chen said he had made a bold experiment: to sign a contract with a personal identity, and if the cooperation between the two sides was successful, he would apply again to the board and persuade the board to open the merger to the company level. "The Contract designs a key treaty, and if the board approves the merger, the contract will take effect, and if not, the contract will be deemed invalid." "Chan told reporters.

This is clearly a bet. If the bet wins, Chen Ping will get the platform of Xin Feihong, if lost, Chen Ping not only 22 million yuan, but also will attract a lot of controversy. "From a legal point of view, Xin Feihong's arrears with me is not related, because according to the contract, the acquisition has not been approved by the board, which is invalid, I naturally have no obligation to repay it." "Chan said.

For the merger details mentioned by Chen Ping, the reporter tried to contact Xin Feihong Chairman Deng Wave, and to prove to it. But Deng Fei Lang mobile phone shutdown, so the reporter will be sent to the above content by SMS to Deng Fei Lang, but until the deadline, the reporter did not receive the relevant reply.

Although not approved by the board, but the "morning rush of the star" but in fact set up, this will cause the board level dissatisfaction? On this question, Chen said: The Board of Trustees basically approved his idea, since it has become a reality, so there is no more interference.

"From a legal point of view, in the face of an invalid contract, in principle both sides can return the subject matter." But because it is in the investment field, the investor's money often has been spent, this time need both sides to consult. In addition, Chen has the right to choose not to continue to invest. "Bervin said.

Without the approval of the Board of Directors, Chen Ping personal mergers and acquisitions of Xin Feihong, this reporter Shang anxious to one of the shareholders of Alibaba to verify. But Alibaba related person said, Alibaba is not big shareholder, also do not participate in operation, do not know the details of it.

Chen Ping's reflection: entrepreneurs should not be greedy for quick

Entrepreneurship is a difficult proposition. Even if there is a market, rich and experienced, it may still be difficult to escape the fate of failure. Chen Ping is a typical case that still fails under the conditions of timing, geography, and people. For this venture to fail, what kind of introspection and summary? Chen Ping, who was in the middle of a public opinion vortex, received an interview with the Chinese business newspaper on the afternoon of March 7.

China Business Daily: Rumor has it that you've run away with money?

Chen Ping: I didn't run away, and yesterday I mortgaged my house and my car to pay my employees.

"China Business Daily": There is a saying is that the morning rush "transfer assets", in the end what is going on?

Chen Ping: haha! The morning of the star in addition to a few cars and computers what assets can be transferred?

"China Business newspaper": It seems that the source of the problem in Xin Feihong, the morning of the star's rapid development of their own?

Chen Ping: The morning of the star "Cloud Express" mode and E-commerce delivery market positioning, through this 3 years of time verification is right, the problem lies in the one-sided pursuit of development speed and scale, thus exceeding the investment budget, resulting in the business management process deformation and aliasing, especially in the business base, talent base, Customer resource base is not a solid situation without a timely contraction and make a profit.

"China Business Newspaper": You create the morning rush is in 2009, when the pattern of the industry? What was the background for a new courier company?

Chen Ping: If you choose to build a National Express platform, invest 100 million, to tell the truth is no chance of success. In the case of little investment, if you choose to focus on the county, town, township E-commerce delivery or the inland province of the land distribution business, the chances of success will certainly be.

"China Business Newspaper": You create a morning rush, from the house to take away a group of people, in the business and management, star morning and home urgent send have what common and different points?

Chen Ping: The common point is that two companies are doing e-commerce business for the national Collection of goods, the difference is that one is straight camp, one is to join, brought out the house anxious to send cadres and staff to join the enterprise, indeed a little acclimatized.

"China business newspaper": After the calculation and inventory, now the star morning emergency funding gap how big? How will it be resolved? Where does the money come from?

Chen Ping: The morning of the star is facing the problem is: if you continue to do the platform is "Cloud Express", the funding gap is certainly a big problem. And if you focus on one level and the distribution of a province, the reorganization of network and management is a big problem. It depends on our next choice.

"China Business newspaper": Some people think that Xin Feihong is not an ideal acquisition object, how do you see?

Chen Ping: and Xin Feihong business model similar to the enterprise is certainly not the ideal acquisition object, and for the enterprise without express platform should be an ideal acquisition object, after all, Xin Feihong has 10 years of Express Platform Foundation.

"China Business newspaper": For a courier companies, the pursuit of scale and risk control how to choose between?

Chen Ping: In the case of strong capital, the pursuit of scale, in the case of limited funds, small steps jogging.

"China business newspaper": After this change, what is your reflection?

Chen Ping: You must choose a business that others do not do, or other people do not fine professional business, greedy for fast, even if there are very strong funds will have hidden dangers and risks, even if you run faster, to a certain time, you will be back to do "remedial" things.

"China Business newspaper": What do you think the future of the express industry competition pattern?

Chen Ping: The enterprise that concentrates on business-to-business business must be the integration of warehousing, transportation and distribution; enterprises focusing on business of enterprise must be characterized by the service of electronic commerce; the enterprises focusing on consumer-to-consumer business must be in the community, business district, Park, Campus has intensive canvassing, distribution outlets. In the whole pattern, the private express enterprise must be one of the most active elements, the franchise system after improvement and reform will play a pivotal role.

About Us

In the January 1994, Chen Ping and his brother Chen Xianbao co-founded the house urgent send, ping president. In March 2009, Chen Ping because of his brother's idea to leave the house after the urgent delivery, the creation of "morning rush", began the second venture, at this time he has been nearly 50 years. For two startups, Chen Ping once said: "By 2015, my 55 birthday, if not successful, I will resign." ”

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Events Review

March 4, the star morning emergency headquarters door closed, deserted. Star Morning Emergency official website has been unable to open, Headquarters customer calls no answer.

March 5, it is said that Chen Ping sent to various partners a text message circulated online.

March 5 afternoon, by the staff, joined the composition of the hundreds of-person team in the morning of the Star emergency Shanghai Branch door, come to beg for wages, debt collection.

March 6, Chen Ping appeared in Shanghai, rushed to Xin Feihong Shanghai headquarters to deal with the problem, and began to ask the lawyers, accountants and the General Post Office of the relevant leadership, the demands of the parties to comb, check, after the completion of liquidation. The pattern has the boundary, the management saves the mistake

Overnight, the morning of the star's rush to hang Cliff!

As the veteran of the express industry, Chen Ping never optimistic about franchising mode, to the franchise model to create a morning rush, he really experienced a return to "risk failure" taste. In the end is the franchise mode is not suitable for the development of the express industry, or his express industry development trend of error, or its franchise mode of management errors?

Due to financial and legal restrictions, China's private Express enterprises are the franchise model to create, because this model has a small operating risk, small investment scale, rapid expansion and other characteristics, it has become a major feature of China Express industry, but also domestic express (off-site, same city) the leading force. Among them, "three-way one Tatsu" is a franchise model of successful cases of Representative express enterprises.

Express industry Franchise mode of success, mainly in the following factors, for example, the "villagers" and local culture to join the bond, to dare to invest, dare to lose the mentality of the market competition, the actuarial cost of pricing grid, the contract responsibility system as the incentive to flat management and streamlining of headquarters staff to reduce management costs; , taking low cost as the means of competition, and producing scale benefit by large-scale operation. These factors all let the private express enterprise basically completed the original capital accumulation, thus entered the large-scale development stage.

However, due to low market concentration, the franchise mode under the homogenization of competition also causes the domestic express industry profit annual decline trend, the domestic express industry has entered a meager profit period.

Chen Ping, as a decision maker, may not have judged the competitive landscape of the express market has changed dramatically. Even in the 2009 franchise mode to engage in Nationwide express business, also need at least 300 million yuan of funds, supporting the loss of 3-5 years, and the actual situation is: The Morning Star emergency investment, financing a total of 100 million yuan of capital scale, far from meeting its 3 years of expansion and day-to-day operation of the needs. Without scale there would be no scale benefit, and the company would always be at a loss.

At the same time, the star morning urgent team also to use franchising mode of Express network lack of actual combat management experience. The main management personnel of the Morning star rush to come from the house rush to send, structure single, in the management means, they basically apply to the use of the direct management and operation mode, which is difficult to integrate with the franchise model, so did not create a competitive, innovative "Cloud Express" franchise profit model. For example, for the lack of "villagers" and local culture to join the bond, or corporate culture values can not be recognized, or franchisee did not complete the original capital accumulation or profit has a certain scale, as well as the integrity of the system is not perfect private express enterprises, is not suitable for collecting money business. However, the star morning rush to the business delivery and collection of goods as a market positioning, which directly violates the Express industry franchise mode of the rules, not only has not been profitable growth point, but it has become one of the risks of its continued operation.

The sudden collapse of the star's case reminds us: in the case of insufficient argument, in the case of capital scale, talent team and business model is not competitive, in the absence of loss tolerance and exit the market feasible solution, can not venture into a market. The history that relies on a successful entrepreneurial mindset, guts and courage to succeed again is gone!

In fact, with the development of specialization in the global economic integration and market demand, the disadvantage of diversification of benefits in franchising mode can not adapt to the development trend of the integration, standardization, mechanization, intensification and globalization of the express industry. From entering the world's top 500 express companies look, no one is a franchise mode. China's express delivery industry development model is ultimately: self-oriented, deputy supplemented by international practice. Shun Fong has used 5 years of time from the franchise mode to achieve the successful transformation of the self-mode, it is worth other private courier enterprises for reference.

Express Join mode is really "not spirit"

The sudden collapse of the Morning Star has become the logistics industry and even the most concerned about E-commerce industry events.

The logistics industry personage discloses: The star morning urgent then the route is the transformation, from does the national receiving goods, transfers the area the landing to match the business.

Whether it is a failure or transformation, the morning star of the sudden fall or due to join the model of the mishap. Although the express industry join mode can rapidly expand the network, but it is difficult to achieve uniform service, settlement unification. And a lot of electrical business enterprises are required by the collection of money business, will also be due to the franchisee's management is not in place and the risk of the loan recovery.

Industry has been very successful Fan Lee: Shun Fung Express as the country's largest private courier company, unified management, unified service standards, safety and security, has proved the direct Express mode of great advantage. It turns out that direct-mode Express has been eating into the franchise mode of the express market.

But Chen is still trying to take risks and too trusting in his own power. 3 years ago, Chen Ping left home to send a second venture, the founder of the morning rush, then I would like to rely on Alibaba's investment and platform, the establishment of its dream of China "logistics cloud computing platform" can be from many national shipping invoices and a large number of waybill information processing, small courier companies can be through the star morning rush "cloud logistics platform" Access to customers, and through this platform to take goods, delivery. In fact, Chen Ping's "cloud logistics" model is the essence of the franchise model.

The biggest bottleneck of logistics industry is not the technical level, but the difference of management ability behind the choice of business model. Although with the size of the company to achieve a larger volume of express delivery, but the price of distribution is not large, if the management does not follow, joining express it is difficult to ensure quality service experience. Because of this, the star morning rush in the industry's reputation has even been inferior to Shentong, Yuantong and other companies.

In the franchise mode, franchisees need to pay to join the company to share the system platform. But if the franchisee order volume is not much or bad, it is very easy to affect its services, and even the situation of the volume of the run. It is precisely because of this abuse, although Shentong, Yuantong and other companies order size doubled every year, but still shrinking to join, expand Direct Battalion.

The morning of the star, although it fell down, but for the Chinese express industry, is not enough to make an impact, because the star morning of the size of the emergency is too small. But the star in the morning of the fall again proved: in the pursuit of the development of the scale of guidance, to adopt a franchise model is really difficult to play this market.

In the context of the development of E-commerce, express single volume doubling growth, but strategic bias, poor management, even if such as Chen Ping industry heavyweight figures are also inevitable cropper!