Is the continuous price increase of dong'a'ejiao a return to value or a random price increase

In the legend of Zhen Huan, the price of donkey hide gelatin, which is the favorite of the ladies, has been rising again recently The price of dong'a donkey hide has been increased by 25% recently? Is there a shortage of raw materials in the price of donkey hide gelatin? In the program of "new fortune night talk" broadcast by Gansu satellite TV yesterday, ye Tan, a financial commentator, Zheng Yining, an analyst of Debang securities pharmaceutical industry, LV Ku, a partner of Hejun consulting pharmaceutical business department, and duese Du, a well-known grassroots researcher of snowball.com, discuss the secret of the price rise of donkey hide gelatin with you On July 13, Shandong dong'a gum price Co., Ltd issued a notice to increase the ex factory price of donkey hide by 25% and adjust the retail price accordingly The price of dong'a gum rose 3.67% on the same day, and then the stock price was adjusted horizontally in a few trading days Similar to the previous reasons for the price increase, the focus of this announcement is still on the price increase of raw materials and the shortage of donkey skin supply According to industry statistics, since May 2006, the price of dong'a-jiao has risen 13 times, and the ex factory price has soared from yuan / kg to yuan / kg Ye Tan: how far has the donkey skin gone? Double color Duchi: in 2010, the domestic donkey skin was 340000 yuan per ton, up 47% year on year in 2011, up 30% year on year in 2012, doubled so far in 2013, and now about 16000T Ye Tan: isn't it a good thing for farmers to double their profits? I can sell 1000 yuan for a piece of donkey skin What we should see is that there are donkeys everywhere in Jiaodong Peninsula or Inner Mongolia Why don't we see such a situation? Zheng Yining: the reproduction rate of donkeys is relatively low, and the reproduction cycle will be relatively long Moreover, donkeys cannot be cultured on a large scale, because male donkeys must be cultured in a column, mainly in monomer This may result in the uneconomical raising of donkeys and the scarcity of donkeys' skins LV Ku: the price of a donkey is about 6000 yuan or more, but it's 1000 yuan after the price of a donkey skin has gone up In terms of the economic benefits of raising donkeys, the skin of donkeys accounts for less than 20%, and more income comes from the meat of donkeys But which is more economic for farmers, to raise donkeys, pigs or cattle or sheep? Farmers will make decisions through horizontal comparison Ye Tan: the farmers are all rational people They are so grumpy at the sight of raising a donkey How many pigs should they raise? So raising donkeys has become a very uneconomical thing More and more large-scale enterprises are involved in the production of donkey hide price products by profiteering It has become a consensus that donkey hide resources are increasingly strained On April 18, 2013, due to the news that the increase of donkey hide price caused the company's cost, the price of dong'a gum was close to the limit The price of dong'a donkey hide in the first quarter of 2013 shows that the cost of donkey hide in 2012 was yuan / kg yuan / kg, and by April 2013, it had risen to yuan / kg yuan / kg According to the calculation of a researcher in the pharmaceutical industry, the current higher than expected price of donkey hide may bring a cost increase of 300 million yuan to the company throughout the year General manager Qin Yufeng also said that dong'a-jiao had established three donkey raising bases in Kashgar, Hetian and ILI, but the cultivated donkeys were all out of Xinjiang, and finally others bought them The battle for donkey skin resources is becoming more and more intense What is the control power of dong'a gum price company over donkey skin resources? LV Ku: the price of dong'a-jiao once put forward a strategy of the whole industrial chain several years ago, hoping to extend to the upstream to monopolize donkey hide resources It has tried, first of all, to raise donkeys and form a ranch But later, it was found that it was uneconomical and could not compete with farmers Later, it changed its thinking and strategy, that is, it was directly raised by farmers, and then it purchased them In other words, it cooperated with farmers At present, about 15% of the source of donkey skin should come from the cultivation of its own upstream Ye Tan: what is the cost of raw materials? LV Ku: from the 2012 annual report, the gross profit rate of donkey hide gelatin price products is 73%, which was about 50% before the price increase So I don't think it's tenable that the price of donkey skin is used as an excuse Take the price of East donkey hide gelatin for example In 2004, the price of one kilogram of donkey hide gelatin was 150 yuan, which was 10 times higher than that in 10 years It should be said that 2010 is a watershed for it Before that, the price of donkey hide gelatin was controlled by the state as a drug, and it has been rising, close to the highest retail price set by the state At the end of 2010, the national policy was adjusted As a health product, the price of donkey hide gelatin was independently priced by the enterprise In this way, the ceiling of the price increase was virtually opened Correspondingly, the price of Eastern donkey hide gelatin increased the factory price and retail price by 60% at the beginning of 2011 At this time, the performance of its capital market reached the peak In recent three years, it should be said that its capital market performance is not very good "Value return" or random price increase? Qin Yufeng, general manager of dong'a donkey hide gelatin price, once compared the price of donkey hide gelatin with that of Cordyceps and Maotai, and thought that the price of donkey hide gelatin was far lower than that of Maotai and Maotai Therefore, he frequently proposed to let the price of donkey hide gelatin "return to value" and take the high-end luxury line In an interview with China Economic Weekly in June 2011, it was quoted that "in the Ming Dynasty, the catalogue of business history recorded the commercial circulation of the price of donkey hide gelatin in detail At that time, the price of donkey hide gelatin was taxed at a price of one yuan and six cents per catty According to the tax convention at that time, the circulation tax accounted for 1 / 20 of the sales volume It was estimated that the price of donkey hide gelatin was about 3202 yuan per catty, which is now equivalent to RMB yuan per catty " At present, the retail price of dong'a-jiao on the official website is yuan / Jin According to the "value regression" calculation of yuan yuan / Jin in materials, there is at least 4.5 times room for price increase However, on August 3, when the international silver was converted into 19.8 US dollars per ounce, the price of donkey hide gelatin with 3202 silver per Jin was equivalent to RMB / Jin, which was equivalent to the ex factory price before the price increase Duet: with the current consumption, I don't think we can solve the problem of donkey skin scarcity in five to ten years without considering import The output of donkey hide gelatin price is 5000 tons to 6000 tons, 6000 tons is its limit Only 1% of people in the country can get the price of donkey hide gelatin LV Ku: according to the annual report, the net profit margin of the price of dong'a-jiao can reach one third In fact, its price increase is not based on cost, but on its strategy of "value return", including market demand On the whole, I think this donkey hide resource is not scarce in the first place, and it is not a basis for the price rise of dong'a gum Ye Tan: one said that donkey skin is scarce, the other said it is not There are still many differences Can the price of dong'a gum make luxury goods? Zheng Yining: the price of donkey hide gelatin always means to return to value and build a relatively high-end brand, so we joked that it wants to make LV in medicine It covers more people in many different product levels, including ordinary donkey hide gelatin price, mainly for the hospital's donkey hide gelatin price paste, and peach blossom price Ji is for young girls After the announcement of price increase of 60% in 2011, its sales revenue growth did not follow the same proportion of its price increase, but decreased By comparing the price increase over the years with the sales revenue, it can be clearly found that when the price increase is less than 30%, it will promote the sales volume, and if it is more than 30%, it will decline It is not the more the price increases, the more the sales volume So I think it may not consider the loss of consumers due to overconfidence or other reasons when it makes price raising strategies.