On May 26, Jiuxianwang (833919) announced that due to the company's strategic development needs, it plans to apply to the national small and medium-sized enterprise share transfer system to terminate the listing on the new three boards. Some analysts believe that Jiuxianwang’s delisting of the new three boards is to achieve IPO. From the new 3rd board listing to the selection of the board, the capital route of Jiuxian.net was considered by the industry to be in line with the strategic expectations of Chairman Hao Hongfeng. Brewmaster will seek a broader capital space. The industry believes that the logic behind the delisting of Jiuxian.com has the closest relationship with the continuous improvement of its own supply chain capabilities. Through the implementation of the Internet customization strategy with the supply chain as the core, Jiuxiannet has created an open-ended closed-loop ecosystem and will help its 2017 annual profitability target. It is understood that the proportion of sales of Internet-customized wines jointly created by Jiuxian.com and major brands has reached 35% of total sales. Create an open closed-loop ecosystem As the vertical e-commerce of alcoholic beverages with the highest listed value on the New Third Board, the market value of Jiuxian.com had reached 20.431 billion yuan before the suspension of trading. According to insiders of Jiuxiannet, in the first quarter of 2017, Jiuxiannet.com has achieved profitability, and it is expected to achieve its goal of profitability for the whole year. The operation of the company is healthy, and the bank credit line represented by the Bank of China is nearly RMB 800 million. The capital supply is sufficient. The development momentum is good. For more than a decade, due to the fact that prices are generally lower than traditional channels, the vertical e-commerce of alcohol has made traditional channels pressure. At the beginning of the e-commerce business such as JD.com, the impact of 3C, home appliances and other categories on traditional channels. From the perspective of the transparency of Internet information and the nature of Internet of Everything, vertical e-commerce from the alcoholic beverage industry has broken the traditional channels of agency, price opaque, inefficient, high-margin business models and interest barriers. As a result, some well-known wine companies have been hostile to alcohol traders and disputes have continued. Until the past two years, Jiuxiannet created a strategy of Internet customization with the supply chain as its core. The era of positive countermeasures between alcohol and electricity providers and traditional channels has ended, and the era of Internet customization cooperation has begun. Hao Hongfeng believes that the core competitiveness of alcohol e-commerce is nothing more than two aspects: First, the front-end operating capabilities, reflected in the convenience of online and offline channels, product quality, rich SKU, and cost performance; the other is to be able to support the competitiveness of the front desk The supply chain, reflected in Brewmaster, is the ability to customize the Internet. In the implementation of the Internet customization strategy, Brewmaster opened the front end to the back end. Through the Internet IT system, as well as the ability of big data known as the Internet infrastructure to connect, this forms an open closed loop. On the front end, Jiuxian.com conducted consumer big data collection through online e-commerce platform and offline member terminals. At the back end, Jiuxianwang set up an open platform, which involved 18 million loyal customers and 10 million businesses in cooperation with merchants and brands. Sharing, reverse development of Internet custom wines, sharing resources, sharing users, and sharing dividends. In such an ecological closed-loop, Brewmaster.com, as a connector for upstream wine producers and downstream consumers, has changed its role. On the one hand, from the production of wine enterprises, what Jiuxian Network sells, it is converted into Jiuxian.com, through technology-driven, data support, mining, positioning consumer demand, and promoting the transformation and upgrading of wine enterprises to stimulate the vitality of the wine consumer market; on the other hand, Jiuxian Network Passivation is the initiative, and the competition with traditional channels is realized. Consumer demand can be timely connected to the wine enterprises, and the production plan can be precisely formulated so that consumers can deeply participate in the production and design of alcoholic products. People in the industry believe that alcohol e-commerce is in a period of deep integration. The upgrading of competition makes a single business model increasingly unable to achieve profitability, and diversification has become the core of enhancing the vitality of alcohol e-commerce companies. The traditional B2C model does not satisfy the diversified needs of consumers. In contrast, the B2B+ custom product model is an effective means to achieve profitability. Internet customization will become a profit breakthrough At present, the sales of Internet-customized wine accounted for approximately 35% of the total revenue of Jiuxian.com. This is very similar to home appliance retailer Gome. With differentiated commodities, Gome maintained its gross profit margin at over 16%, which is higher than 2 points in the same industry. In the future, the Internet customization strategy will become the breakthrough point for the strategic transformation of Jiuxian.com, as well as the enhancement of its competitiveness and profitability. Song Shuyu, deputy chairman and secretary-general of China Wine Association, affirmed this model. He once pointed out that the strategy of Internet customization will help the strategic transformation of wine enterprises and realize the win-win cooperation between e-commerce companies and wine enterprises. According to the statistics, in recent years, the customized products of Jiuxianwang and major wine companies have been flourishing. From March to November 2016, Jiuxiannet has achieved strategic cooperation with eight well-known brands such as Xijiu, Guotai Wine, and Su Jiu Group. In collaboration with Guizhou Xiji Ju Juxian “Traditional Special Musicâ€, Cooperating with Guotai Wine Co., “National Taiwan State Giftâ€, and Alcoholic Liquor, jointly launching new “Drunken Mageâ€, and cooperating with Souen Group (Yanghe) “Yanghe Special Musicâ€, cooperated with Fenjiu Group to create “42° Outstanding Apricot Flower Villageâ€, cooperated with Gujinggong to launch “Peach Blossom Spring Songâ€, and Wuliangye Co., Ltd. created “Chujianâ€. These customized white spirits achieved remarkable results. In addition to the Internet customized products, Jiuxian.com also deepens its cooperation with strategic partners by continuously subdividing product positioning and consumer positioning. Among them, the cooperation with Wuliangye Group not only combines the customization of “Comprehensive Kampoâ€, but also becomes a professional channel operator of Wuliangye Company, and has the exclusive right to operate the “Chujian†series products other than trademarks. Liu Bin, chairman of Yibin Wuliangye Co., Ltd., is also very much in favor of Jiuxian.com's Internet customization strategy. He stated that Jiuxianwang, as the largest vertical e-commerce supplier in China, is based on having a large number of members and transaction data, and has the ability to deeply cultivate big data. Not only can they deeply understand the purchasing preferences of specific consumer groups, they can provide valuable suggestions on product design, and they can rely on many advantages such as big data, operations, sales channels, and marketing to minimize channel costs. Up to now, Jiuxiannet has established deep cooperation relationship with more than 80% of domestic wine enterprises, gradually integrated the upstream and downstream resources of the industry, and provided integrated services for the wine enterprises in the field of e-commerce; it also cooperated with Tmall, Jingdong, Suning, etc. The domestic well-known e-commerce platform achieves in-depth cooperation. It has become the largest vertical e-commerce company in China. The scale of alcohol e-commerce transactions will gradually increase. According to statistics, it is expected that by 2020 it will exceed 124.5 billion yuan. During the “13th Five-Year Plan†period, the compound annual growth rate is expected to reach 44%, and the alcohol e-commerce market contains great potential. Some experts believe that the core business model with retail B2C as the center and supply chain B2B and internet explosives as the fulcrum will establish core competition barriers for Jiuxian. The strategic transformation will release more favorable factors, and profitability will also be improved. Further improve.