Top five executives resign within three months of competition will intensify

The first financial daily was informed yesterday, following March 20, the managing director Swanloo submitted his resignation, the largest domestic pharmaceutical electrical business Happy Person Online Pharmacy (hereinafter referred to as "happy person") operations director, marketing director has also resigned, in addition to the previous announcement of the resignation of the technical director and Financial Controller, in just three months, Happy people have suffered a series of abrupt changes in the turnover of five top executives.

This newspaper learned that the resignation of the five successively, Swanloo and technical director of the choice of their own business, financial director and marketing director by other electric business to dig away. And as for the short term of the core departments of the reasons for collective turnover, people familiar with the analysis of the reporter pointed out that Swanloo is a happy person's soul figure, his departure on the company a great impact. In addition, Swanloo has a good market sense of smell and executive power, but the strategy is often short-lived, which is the parent company's highest decision maker's business philosophy and the restrictions on decentralization has a certain relationship.

IPO delay

Has rushed in the pharmaceutical dealers listed on the front of the happy people, suddenly encountered a "brake on the brakes."

"Now, the whole listing has been suspended and the next round of financing is in trouble." Yesterday, the industry close to happy people informed the newspaper that, in the encounter with the CEO and the four core departments in charge of resignation after the incident, happy people on the listing has been temporarily "sit tight."

And that means that the drug dealer, which was supposed to be the first to sprint the capital market, had to postpone the IPO schedule again.

2012, is happy the parent company "Happy People's Congress pharmacy" to create the 10 anniversary. 2002, the Happy People's Congress pharmacy in China pioneered the model of cheap pharmacies, this kind of aside from the middle, directly to manufacturers and large pharmaceutical companies to purchase the drug model, in order to lower than the state approved prices on average 45% reduction in price advantage in the national expansion. And this model was quickly copied by a number of chain pharmacies, many city pharmacies set off the price of a bloody battle, many pharmacies were dragged into vicious competition, the entire drug retail industry profits also dropped sharply.

From 2004 onwards, the Happy People's Congress pharmacy from "cheap Big pharmacy" to "standard Pharmacy supermarket" mode of transformation.

But because of the restriction of regulatory policy and the fierce competition of 320,000 pharmacies, the chain pharmacy of Happy People's Congress has been undergoing continuous industry shuffling, that is, at this stage, the idea of listing is beginning to become clearer.

In January 2008, after a year of negotiations, the happy People's Congress pharmacy and Citigroup Holdings of Japan-Hing Group International Strategic Investment (hereinafter referred to as "Japan Hing Group") reached an agreement, the latter to the happy person to inject 100 million yuan. In the next 2 years, the group will continue to inject 30 million to 50 million U.S. dollars.

Happy People's Congress pharmacy spokesman Zheng Yinghua said at that time, 100 million yuan in place, will be launched acquisition integration and open the two major operations, large-scale in the national market layout, to ensure the listing in 2010.

After the financing, happy People's Congress immediately announced the 10-year development plan: 3 years to achieve the number of stores 1000, and 1000 as the starting point, and gradually developed to 1800. In 5-10 years, happy People's Congress of pharmacy sales to achieve 10 billion yuan.

"But the real-store challenge is growing, and it has been shrinking the number and range of stores over the years." "Yesterday, an industry authority in an interview with this newspaper, said," Happy person entity store official data is 100, but in fact, may have been less than 30. ”

This figure is hardly the same as the number of stores in a province of the former rival Hunan People's big pharmacy.

"Operating pressure and investment return under the double pressure, the transformation of the electricity business is actually a pressure under the decision, but, happy people do very well, Day Cat Mall opened, it has become the largest pharmaceutical electrical business, after the strong." "The aforementioned authorities said.

"Electric business is a strategy for the transformation of happy people, rather than a line supplement to the traditional retail entity business." "When happy people online pharmacy managing director Swanloo earlier on the listing of the issue in an interview with this newspaper said.

and other chain pharmacies try to sell different online, happy people will be online pharmacies completely independent of the entity chain, set up an independent legal person's company, fully prepared for the listing.

In this respect, happy People's Congress said publicly, the listing plan midway changes, will be listed as a whole to convert into electricity, the entity split listing.

"But now, the first batch of overseas financing that was planned to be completed in December 2012 has not been accounted for, and after a series of personnel changes, the money is likely to become more elusive." The insider told reporters.

Increased competition

At present, the days of the Cat Medicine Hall of the Happy Person pharmacy daily sales of about 110,000, the total monthly sales in 3.7 million up and down, in the current pharmaceutical manufacturers ranked first.

But Swanloo and his team left a good start for how long, and no one can assert it now.

2011, China's electrical business continued to blowout in the field of pharmaceutical and electrical business, Jingdong Mall announced with the largest private pharmaceutical electronics portal Kyushu Tong Cooperation, the establishment of joint ventures and by Kyushu Tong Holdings, jointly carry out pharmaceutical business; Then, Tencent patted the line of medicine products, and Dangdang CEO Guoqing also publicly said that has been with the sale of qualified wholesale retailers have contacts, is "actively apply for relevant qualifications", and excellence and other sites have shown a interest in the field of pharmaceutical industry.

According to the China Online Pharmacy Council report, 2012, the pharmaceutical industry, the revenue scale is expected to reach 1.5 billion yuan, compared to 2011 400 million yuan growth nearly 3 times times.

"In fact, the opportunities are more and more, but it has not surfaced, but the competition will become more and more fierce." The aforementioned experts told reporters that at present, in addition to the national chain of pharmacy leading Hunan people and Heart, Yi Feng three near or complete the IPO, Nanjing Xian Sheng Pharmaceutical Pharmacy and Hua Tuo online pharmacies will be its headquarters to move to Beijing, and the Day Cat Medicine Museum in the number of pharmacies has exceeded 30.