China Food

Zhou Dehan was appointed CEO of Fonterra Greater China. The Hong Kong Consumer Council inspected 15 infant formula milk powder. Starbucks responded that “coin refused”. The former CEO of McDonald’s denied the accusation. KFC first promoted and Niubao


Hot company information and announcement

 


Fonterra appoints Zhou Dehan as CEO of Greater China (company news)


Today, Fonterra announced that Mr. Zhou Dehan is the CEO of Greater China. Miles Hurrell, chief executive of Fonterra group, said that since Dehan took over the cooperative’s overall business in Greater China, including raw materials, catering services, consumer brands and China’s ranching business, since Dehan became acting CEO in Greater China in December 2019. Even this year, in the face of such a great challenge as the epidemic, he has made remarkable contributions.

Starbucks responds to rejection of coins: there is no rule of rejecting coins, which has been reiterated to all stores (time video)


On August 15, a blogger posted a video on a short video platform, saying that the shop assistant did not accept coins when he was spending at a Starbucks. In response to this, Starbucks said yesterday that it can choose a variety of payment methods including cash payment in stores, and there is no rule of rejecting coins. During the epidemic period, it encourages customers to use contactless electronic payment method, apologizes for the poor experience of individual customers, and has explicitly reiterated the relevant provisions to all stores at the first time.


Yili 6 batches of infant formula milk powder product formula registration approval document (decision) to be received information disclosure (State Drug Administration)


On August 14, the official website of the State Drug Administration announced the information to be received on the formula registration approval (decision) of six batches of infant formula milk powder products. The applicant is Tianjin Yili Dairy Co., Ltd. Details are as follows:

 


Former McDonald’s CEO denies charges


Steve Easterbrook, the former CEO of McDonald’s, has responded by denying that the company claims he covered up sexual relations with subordinates. McDonald’s had dismissed him, but his resignation agreement allowed him to retain more than $37 million in stock awards and $675000 in severance and health insurance benefits. In return for his severance pay, Steve Easterbrook agreed to a two-year non competition clause, which clearly stipulated that he could not join more than 40 companies.

China Resources Group’s first half revenue of 273.7 billion yuan (state owned assets supervision and Administration Commission of the State Council)


In the first half of this year, China Resources Group achieved an operating revenue of 273.7 billion yuan, a year-on-year decrease of 5.9%, and a net profit of 22.3 billion yuan, a slight increase of 0.2% over the same period of last year. From the perspective of quarter by quarter, the first quarter revenue decreased by 15%, and the net profit decreased by 33%. Since April, the two indicators have been restored month by month. In the second quarter, the revenue increased by 3% year-on-year, and the net profit increased by 29%. The overall performance was better than the average level of central enterprises in the same period (the turnover of central enterprises decreased by 7.8% and the net profit decreased by 37.7%), achieving the goal of outperforming the market.

Tmall supermarket, taoxianda, hungry Mo and Yili upgrade Cooperation (36 krypton)


On August 14, tmall supermarket, taoxianda and famo announced strategic cooperation with Yili, and both sides will cooperate in marketing and service. According to the cooperation text signed by both parties, Yili will enter the above three retail platforms in a one-stop manner. In the offline market, it will also use taoxianda digital cloud store (offline POS machine) and promotion points in large supermarkets such as RT mart and Auchan. Finally, through the rookie logistics system, Yili will realize one hour home delivery of goods in major cities in China.

Relative food medium-term net profit increased by 57.0% (company announcement)


Qinqin food announced today that the company’s revenue in the first half of the year was RMB 445 million, an increase of 18.1% over the same period of last year; the net profit attributable to shareholders of the company was 50.255 million yuan, up 57.0% year-on-year. It is reported that the group’s overall revenue increase is mainly due to the group’s continuous adjustment of product structure and sales strategy, focusing on new product development to enrich product categories, improve overall product sales, and drive long-term development and profit growth of the enterprise.

 

Net profit in the first half of the year decreased by 22.5% (company announcement)


Chengde Lulu disclosed the interim report on the 15th that in the first half of 2020, the company realized a total operating revenue of 1 billion, a year-on-year decrease of 20.7%, and a net profit of 200 million, a year-on-year decrease of 22.5%. It is reported that its operating cash flow decreased by 139.8% to -210 million. From the perspective of business structure, “plant protein beverage” is the main source of business income. Specifically, “plant protein beverage” business revenue of 1 billion, accounting for 100% of revenue, gross profit margin of 54.3%.

Meilu publishes IPO prospectus (SFC)


On August 14, Meilu Biotechnology Co., Ltd. issued the IPO prospectus. According to the documents, from 2017 to 2019, the company’s operating revenues were 306 million yuan, 309 million yuan and 356 million yuan respectively, and the net profits were 76.2955 million yuan, 46.9146 million yuan and 82.5638 million yuan respectively. The funds to be raised by Meilu this time will be used to build a production line with an annual output of 10000 tons of infant formula powder, milk powder and oiling whey ingredient powder, brand promotion and sales channel construction, nutrition and health research and development center and enterprise information system upgrading and transformation.

 

The net profit of Anji food decreased by 15.83% (Beijing business daily)


On August 14, Anji food released its 2020 semi annual report, saying that in the first half of the year, the company realized a revenue of 178 million yuan, a year-on-year decrease of 14.52%, and a net profit of 23.8 million yuan, a year-on-year decrease of 15.83%. Anji food said that due to the impact of the epidemic, the sales revenue of catering channels decreased, and the expenses paid to customers were offset against the revenue according to the new revenue standard, resulting in the decrease of revenue. It is reported that Anji food mainly focuses on the R & D, production and sales of condiments.


Weiquan joins hands with dove to launch a new chocolate milk drink (company news)


Today, Weiquan launched its new cooperative product “chocolate milk drink” with dove. It is reported that this drink has been pre sold in its official flagship store of tmall, with the price of 129.9 yuan / 8 boxes, and the preferential price of Juhua is 79 yuan / 8 boxes.

 

Impenetrable foods, which supply “vegetarian meat” to Starbucks, are valued at $4 billion (Hua Lizhi)


Impossible foods, a US vegetarian meat start-up, has raised $200 million. According to data, in the new round of financing, the overall valuation of impossible foods is as high as US $4 billion. It is reported that since March, the number of retail outlets of impossible foods has increased 60 times to 9000. It also sells “plain meat” products through its 15000 stores. In June this year, impossible foods launched an e-commerce website directly for consumers in the United States. Orders above $75 can be delivered free of charge.

Wangwang fix xbody snack pack launched in Jingdong hot 8 shopping season (Beijing business daily)


Fix xbody, a sub brand of Wangwang, and Jingdong hot 8 shopping season jointly launched the hot 8 flash box, Beijing Business Daily reported on the 15th. “Hot 8 flash box” contains many fixxbody items, such as 0 calorie small jelly, sugar free coffee, coarse grain biscuits, and low-fat cod shreds. Before August 18, fix xbody will be available in Jingdong flagship store. It is reported that fix xbody is a brand of card controlled snacks launched by Wangwang group in September 2019 after two years of research and development.

KFC launches star series and Niubao (company news, Oriental Information)


Today, KFC launched a new product “star and cattle series” hamburger. Niubao has always been an indispensable part of the high-end hamburger line. KFC tidal burger has been on sale for two consecutive seasons, including cheeseburger with bacon and whole slice steak burger.



Mengniu ranks top 30 in Hong Kong stock market sustainable development performance (financial sector)


On August 14, Mengniu, with its outstanding performance in sustainable development, was selected as a constituent stock of the Hang Seng sustainable development enterprise index, ranked among the top 30 in the sustainable development performance of Hong Kong stock market, and was recognized as one of the most outstanding enterprises in the sustainable development of Hong Kong stock market. It is understood that this is the first time that Mengniu has been selected into the Hang Seng sustainable development enterprise index series. It has become a constituent stock of hssus and the only mainland food company to be listed in the constituent stock.

Herbalife participated in the compilation of “international collection of food policies and regulations” (company news)


According to the company’s news, recently, the compendium of international policies and regulations on substitute food, edited by China Nutrition and health food association and actively participated by Herbalife expert team, was officially published. As the only enterprise invited to participate in the compilation work, Herbalife mainly undertakes the collection, sorting, translation and revision of laws and regulations around the world, so as to promote the standardized and healthy development of the catering industry.

Fuyi held a new product launch in Shanghai this week (Aohua Finance Online)


Australian wine group will hold a high-end dinner in Shanghai this week to celebrate the launch of its brand “full moon” limited edition products, Aohua Finance Online reported recently. In addition, a “flash shop” will be set up for a three week marketing campaign. It is reported that this activity is the only offline promotion activity of Fuyi in the world at present. At present, many countries are in recession, but China’s economy grew by 3.2% in the second quarter year-on-year. China is the largest overseas market of Australian wine, while Fuyi is the first foreign wine seller in China. Fuyi’s sales in China rose 40% in June and 13% in the second quarter.

 

American organic spirits brand prairie organic launched vodka plant series (Foodbev)


Organic spirits brand prairie organic has launched the first vodka plant line in the United States that is infused with pure natural ingredients. It is reported that its new product line can be enjoyed with soda water and ice, taste fruit flavor, and can also be enjoyed in mojito or screenriver cocktails. The product retails for $21.99 in the U.S. in 750 ml bottles.



Plant based food producer “Sol cuisine” received $10 million financing (36 krypton)


According to foreign media reports, recently, the plant-based food producer “Sol cuisine” has obtained 10 million Canadian dollars equity financing. This round of financing is led by the industrial innovation venture fund of BDC capital, with the participation of existing investors such as EDC and new acres, as well as Mike fata, chairman of sol cuisines, and John Flanagan, CEO. Founded in 1980, the company is a food manufacturer that produces plant-based protein products.

 

Baby bunting’s strong performance in fiscal year 2020 and share price reaching a record high


Baby bunting, an Australian baby products retailer, released its annual report for the fiscal year 2020 on August 14, saying total sales rose 11.8% year-on-year to a $405.2 million in the 12 months ended June 28, according to Aohua finance online. Due to the high profit margin of private brand and exclusive products, the gross profit margin of baby bunting increased by 120 basis points to 36.2%, resulting in a year-on-year increase of 24.1% to a $33.7 million and a year-on-year increase in net profit after tax of 34.1% to a $19.3 million.


Quick reading of food industry information



Sales growth rate of liquid dairy products slowed down (China Dairy Association)


Affected by the novel coronavirus pneumonia, the annual sales of liquid dairy products were flat at the end of June. Compared with previous years, the growth rate of liquid dairy sales slowed down, and the impact was mainly on the decline of the purchase frequency and average unit price. According to the survey data, the year-on-year growth rate of liquid dairy sales in the first half of the year was – 3.2%, but compared with the year-on-year growth rate in the same quarter, there was a significant rebound. Among them, the average unit price decreased by 3.9% year-on-year, while the sales volume increased by 0.7%. The analysis of the contribution of sales growth shows that the number of buyers has increased by 2.3%, while the growth rate of per capita purchase volume is – 1.5%. The purchase frequency has declined significantly, with a year-on-year growth rate of – 6%. However, the single purchase volume has increased, with a year-on-year growth rate of 4.8%.

All 15 infant formula milk powder tested by Hong Kong Consumer Council contain chloropropylene glycol (Interface)

The Consumer Council of the Hong Kong SAR Government (hereinafter referred to as the “Consumer Council”) inspected 15 kinds of infant formula on the market and found all of them contained 3-MCPD, the Hong Kong Wireless news network reported on the 17th. The price of the tested milk powder ranges from 250 yuan to 539 yuan. If the sample with the highest content of chloropropylene glycol is fed according to the recommended amount on the label, it will exceed the daily maximum intake set by the European food safety agency. Excessive intake of chloropropylene glycol for a long time may damage the renal function and male reproductive ability.

In addition, trace amounts of lead were detected in all milk powder samples, and the contents were in line with local and international regulations. Nine of them were also found to be a genetic carcinogen, epoxypropanol, but all of them were below the EU limit.

Ministry of Commerce: to improve the standard of food and beverage saving and introduce measures to stop food waste (people’s daily)

The Ministry of Commerce held a working Forum on August 17, inviting representatives of the central civilization office, the development and Reform Commission, the Ministry of education, the Ministry of housing and urban rural development, the Ministry of culture and tourism, the General Administration of market supervision, the State Administration of statistics, the State Administration of administration, the China Federation of Commerce, the China Hotel Association, the Chinese Cuisine Association, the meituan review group, some catering enterprises, as well as experts and scholars, were invited to attend. The forum learned the spirit of general secretary Xi Jinping’s important instructions on curbing the waste of food and drink, and discussed measures to promote food conservation and curb waste. In the next step, the Ministry of Commerce will improve the food and beverage conservation standards, introduce measures to stop food waste, give full play to the self-discipline role of trade associations, increase publicity efforts, and establish a long-term mechanism to stop food and beverage waste.

 

Top 10 Chinese catering brands announced in 2020 (Economic Daily)


According to the economic daily, on August 13, the award ceremony of “2020 top ten Chinese catering brands” was held in Chengdu. The award of “2020 top ten Chinese catering (category) brands” was announced, and 160 catering brands won the award. This year, the total number of categories has reached 10. In the current situation of the impact of the epidemic, the competition among major categories is still fierce, and the performance of high-quality brands in each category is commendable. Xicha and Haidilao were ranked first in tea and hot-pot/" 22375 rel="nofollow" target="_self">hot pot categories respectively. Details of awards are as follows:




Australia and New Zealand recall a soybean milk product suspected of microbial contamination


Aldi is recalling a soy milk product because of suspected microbial contamination, according to food partners.com. Information on the recalled products is as follows:

 

 

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