Core Insights - Yanzhihua is struggling to penetrate the male market despite high-profile endorsements, as evidenced by the poor sales of its high-priced product, the "President's Bird's Nest" [1][5] - The company's overall performance has declined significantly, with a 24.18% drop in net profit and only a 4.37% increase in revenue for the previous year [1][3] - The marketing strategy, which heavily relies on celebrity endorsements, has not yielded the expected results, leading to a reconsideration of target demographics [3][5] Group 1: Company Performance - Yanzhihua's revenue for the previous year was 2.05 billion yuan, with a net profit of 160 million yuan [1] - The company spent 670 million yuan on marketing, which did not translate into significant sales growth, as pure bird's nest product revenue only increased by 0.06% [3][8] - The e-commerce segment contributed 60.6% to total revenue, while offline sales accounted for 39.4% [4] Group 2: Marketing Strategy - The dual endorsement strategy featuring international star Gong Li and youth idol Wang Yibo aimed to attract a diverse consumer base, particularly targeting young women [3][5] - Despite the marketing efforts, the introduction of the "President's Bird's Nest" has not resonated with male consumers, who remain skeptical about the product's efficacy [7][8] - The company is attempting to shift its focus to the male market, which has shown increasing interest in health products, but faces challenges due to the high price point and unclear product benefits [6][7] Group 3: Industry Context - The instant bird's nest market is competitive, with brands like Xiaoxian Dun and Guanyanzhan posing significant challenges to Yanzhihua [2][4] - The overall growth rate of the bird's nest market has slowed, and Yanzhihua's unique market position is under threat from emerging competitors [4][8] - The male health supplement market is expanding, with a notable increase in male consumer interest, but Yanzhihua's product may not meet their functional needs [6][7]

Core Viewpoint - Vanke's founder Wang Shi endorses the bird's nest brand Yanzhihua, which is facing significant growth challenges as its profits have declined for the first time in five years, prompting a strategic shift to target the male consumer market [1][12][15]. Group 1: Brand Endorsement and Product Pricing - Wang Shi's endorsement of Yanzhihua's "President Bowl" bird's nest, priced at 3168 yuan for six bowls, positions it significantly above the average price of 160 yuan per bowl for similar products [5][12]. - The product is marketed as a high-end offering with more premium ingredients, including a higher quantity of bird's nest and additional supplements like ginseng [5][6]. Group 2: Financial Performance - Yanzhihua reported a revenue of 2.05 billion yuan for 2024, reflecting a year-on-year growth of 4.37%, but its profit fell to 160 million yuan, a decline of 24.18% compared to the previous year [12][13]. - This marks the company's worst performance since 2020, with revenue growth slowing to single digits for the first time [12][13]. Group 3: Market Strategy and Consumer Perception - The company aims to redefine the bird's nest consumer demographic by targeting male consumers, which is seen as a bold innovation attempt [15]. - Consumer reactions to Wang Shi's endorsement are mixed, with some questioning the product's efficacy and the rationale behind a successful entrepreneur endorsing a health product [9][15]. - Analysts suggest that while the endorsement may initially boost visibility, the long-term impact on sales and brand perception remains uncertain [15].