The former king of Huijiu - blast furnace wine

Blast furnace wine is produced in Lao Tzu's hometown of Anhui Province Wuyang County blast furnace town, was founded in September 1949, is the first state-owned distillery in Anhui Province, has sat for many years "Anhui brother" throne, also ranked in the forefront of the country, its brands include blast furnace, double wheel, blast furnace wine, welcome pine wine, China Hui wine, etc.

Blast furnace wine has a long history, can be traced back to more than 2000 years ago, as early as the Spring and Autumn Period, the originator of Taoism Lao Tzu had along the vortex river downstream, to the blast furnace, see the soil and water here is beautiful, the folk customs are simple, so happily stopped, opened the shochu, and the reputation of "Lao Tzu's wine" is also widely spread along with the vortex river.

The actual controller - Chaoshan capital tycoon Lin Junfeng

Lin Junfeng, the actual controller of Blast Furnace Home Liquor, invests in liquor, real estate, finance, home retail and other fields.

Lin Jinfeng, born in the 70s, graduated from China Europe International Business School with a master's degree in business administration. Chairman and Executive Director of Yingxin Investment Group Co., Ltd., Chairman of Anhui Shuanglun Liquor Co., Ltd. The tenth largest shareholder of Kweichow Moutai, and concurrently serves as a director of Landsea Real Estate Co., Ltd., Shaanxi Xifeng Liquor Co., Ltd., Shenzhen Hongtong Automobile Co., Ltd., Shenzhen Juwan Sunshine Food Co., Ltd. and other companies.

In 1996, he founded Shenzhen Juwan Industrial Co., Ltd. as an omni-channel marketer in the FMCG market in South China.

In 2003, Shenzhen Yingxin Investment was founded to enter the secondary market, and 12 million yuan invested in Moutai to become the sixth largest shareholder, and in 2015, it withdrew and made a profit of nearly 1.2 billion; In 2007, it invested 8.86% in Shaanxi Xifeng Liquor, and in 2009, it acquired Anhui Shuanglun Liquor.

In 2006 and 2009, Lin Jinfeng successively invested in Landsea and Shangkun Real Estate; In 2022, the well-known Xi'an soda brand "Bingfeng", which is out of control, applied for an IPO.

Review of the reasons for the failure - internal management is chaotic, and high-level decision-making changes are frequent

Lin Jinfeng once described himself on his official account: "From 2009 to 2018, in nine years, the blast furnace distillery changed three CEOs, and went through many detours, so that it missed the golden 10 years of the liquor industry. ”

In the past 12 years, after 6 major product strategic turns, enterprises and distributors have always been in a vicious circle of "new product cultivation and digestion inventory", and rarely can enjoy the dividends of product maturity.

Review of the reasons for failure - indigestion of mergers and acquisitions, conflict between old and new forces

There is a huge gap between Lin Jinfeng, an investor who flies from Shenzhen to a small town in northern Anhui, and a blast furnace distillery that has been passed down for generations. Lin Jinfeng didn't even do due diligence, and with just a piece of announcement, he raised a sign for 309 million yuan to auction off Shuanglun Liquor.

After becoming the owner of blast furnace wine, Lin Jinfeng wanted to inject the management model and corporate culture of Huawei, Alibaba and other technology Internet companies into this old distillery with a history of sixty or seventy years.

Review of the reasons for failure - several strategic mistakes and missed opportunities for industry development

In summary, the poor market performance of blast furnace home wine is the result of a combination of factors, including but not limited to market competition, market strategy, product quality, brand positioning and cost management. To reverse this situation, companies need to strategically revisit and adjust their marketing strategies, strengthen quality control, rebuild consumer trust, and explore new ways to adapt to market changes.