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Recently, the semi-annual report disclosed by Qinghai Spring, the parent company of Tinghua Liquor, showed that the net profit attributable to shareholders of the listed company was a loss of nearly 60 million yuan. However, after the "3.15 report" incident, the team of Tinghua Liquor dealers remained stable, and no returns or contract terminations occurred. On August 5, several Tinghua Liquor dealers told Nandu reporters that Tinghua Liquor is currently selling normally, "but the efficacy can no longer be promoted during sales." A person in charge said that sales could still be made through WeChat, phone calls, etc. during the previous store closure.

Some time ago, Tinghua Liquor launched a large-scale advertisement, and the news that "the advertisement covered 32 cities and over 150,000 elevator posters" caused heated discussions, and was exposed to be "making a comeback". Nandu reporters found that when introducing Tinghua Liquor, distributors would use promotional words such as "highest level", "upgraded to 100 points", and "shenzhen level (delicious)".

Tinghua Wine Experience Store.

Distributors say they can no longer promote efficacy when selling

Nandu reporters noticed that on August 2, Qinghai Spring Medicinal Resources Technology Co., Ltd., the parent company of Tinghua Liquor, which was previously named by the 3.15 Gala, announced its 2024 semi-annual report. The report pointed out that due to the impact of the "3.15 report" on the liquor and fast-moving consumer goods business at the end of the first quarter, and the second quarter being the off-season for liquor sales, the sales and revenue of related products failed to reach the expected targets, resulting in the company's overall operating losses. During the reporting period, the net profit attributable to shareholders of the listed company was a loss of 59.8699 million yuan.

At the same time, Qinghai Spring also stated in its semi-annual report that it had received the understanding of its distributors during the inspection by the market supervision and management department. Except for the three distributors whose contracts had been terminated before the "3.15 report", the distributor team was stable and no returns or terminations occurred. Tinghua Liquor's 34 distributors and 16 experience stores in 25 cities including Beijing, Shanghai, Chengdu and Chongqing have also gradually entered a stable operating state.

On August 5, Nandu reporters contacted several persons in charge of Tinghua Liquor's sales channels. One person in charge of investment promotion said, "The March 15 incident definitely had an impact on sales, and customers who bought online would also have concerns, fearing quality issues." After the March 15 incident, Tinghua Liquor's offline stores were closed for a while, "but they can still be sold to customers through phone calls, WeChat, etc. If distributors face major losses, the company will cover the losses according to the actual extent of the losses."

Several distributors told Nandu reporters that Tinghua wine is currently being sold normally, but its efficacy can no longer be advertised during sales. One salesperson said that after Tinghua wine resumes sales, "the efficacy will not be mentioned", and stressed that Tinghua wine was only punished for advertising issues and there was no quality problem.

Large-scale advertising is making a comeback

Some time ago, Tinghua Liquor launched a large-scale advertisement, and the news such as "advertisements covered 32 cities and over 150,000 elevator posters" caused heated discussions and was exposed to be "making a comeback."

It is reported that the standard bottle of Tinghua wine costs 5,860 yuan, while the previously controversial premium bottle of 58,600 yuan is now only for export, a tenfold difference in price. The poster continues the "one question and one answer" promotional style, explaining why Tinghua wine tastes good, why it is expensive, and why three Nobel Prize winners were invited to serve as chief scientists.

During the communication with the distributors, Nandu reporters noticed that the relevant person in charge used promotional words such as "highest level", "upgraded to 100 points", "shenzhen level (delicious)" when introducing Tinghua wine. For example, "although the premium packaging is already made of the highest level of mature raw wine, it is still upgraded from the 99 points of the standard packaging to 100 points through proprietary technology" and "if the standard packaging is the most delicious that has never been experienced, then the premium packaging is the most delicious, incomparable."

Nandu previously reported that in March this year, CCTV's 3.15 Gala revealed that since 2020, a Tinghua liquor claiming to be a "high-end business liquor" has frequently appeared on the consumer market. The advertisements of this wine claim to have the effects of enhancing immunity, improving sleep, ensuring male erectile function, regulating physiological disorders, and anti-aging. The promotional advertisements were accused of violating relevant regulations of the "Advertising Law".

On June 27, the Beijing Municipal Administration for Market Regulation website published an administrative penalty decision on Beijing Tinghua Trading Co., Ltd., a wholly-owned subsidiary of Qinghai Spring. It mentioned that the company's promotional content on Tinghua wine products had no scientific basis and was fined 800,000 yuan. On April 26, Chengdu Tinghua Shengshi Trading Co., Ltd., a subsidiary of Qinghai Spring, was fined 1.8 million yuan by the regulatory authorities for violating the Anti-Unfair Competition Law.

Written by: Intern Yao Wei Zeng and Southern Metropolis Daily reporter Feng Yiran