China Food

After Ruixing said that the CEO had no misconduct, the structure was greatly adjusted. Nestle sold North American drinking water brands for us $4.3 billion, Heineken planned to lay off 8000 people, and kafheinz sold nut business for us $3.35 billion

Hot company information and announcement

 

Guo Jinyi, chairman of lucky coffee, counterattacks (Tencent Finance)

According to Tencent finance and economics news today, after the board of directors of lucky coffee’s Compliance Investigation on Guo Jinyi, a series of internal organizational restructuring of lucky coffee followed. The main senior executives of lucky coffee, including Vice Presidents Zhou Bin, Li Jun and Wu Tao, and senior director of public relations Guo Yiwei, have all made adjustments. “In order to further match the company’s strategy and business development needs, strengthen collaboration and enhance efficiency, it is decided through research that the organizational structure adjustment and relevant appointment arrangements are as follows,” said lucky coffee It is reported that Wu Tao, Zhou Bin and Li Jun will no longer serve as the regional general manager, which will be arranged separately; Guo Yiwei will no longer serve as the senior director of the media public relations department, which will be arranged separately; Wu Tao will be appointed as the vice president of the development center, who will be responsible for the overall management of the development center and report to Cao Wenbao, the person in charge of the operation line. The above organizational structure adjustment and personnel appointment will take effect on February 18, 2021.

Guo Jinyi, CEO of lucky coffee: last year, there were nearly 4800 stores, and more than 120 new stores were opened in January (CFA)

Guo Jinyi, CEO of lucky coffee, released an employee’s internal letter to summarize the past year after getting “name correction” from the internal investigation team, according to the associated press of finance today. Guo Jingyi also revealed that in January 2021, Ruixing had more than 120 new stores, but did not disclose the proportion of direct sales or franchise of these 120 stores.

Lucky coffee said the independent investigation showed that the CEO did not have any misconduct (company announcement)

Yesterday, lucky coffee announced that the board of directors received a letter from some employees on January 4, in which Guo Jinyi, chairman and CEO, was accused. The board immediately set up an independent panel to investigate the allegations and letters. Within one month, the investigation team interviewed nearly 40 outsiders and company personnel, including individuals who signed letters, and reviewed more than 50000 transaction documents, company policies and processes, e-mails, other documents and records. The investigation has now been completed. The investigation team did not find any evidence to confirm the CEO’s alleged misconduct in the letter and has reported its findings to the company’s board of directors. In addition, during the investigation, the investigation team found that some members of the company’s former management were involved in the planning of the letter. The board of directors of the company will continue to fully support Guo Jinyi and the management team to continue to implement the company’s long-term growth strategy.

Market value of Guizhou Maotai evaporates 100 billion in a single day

Today, the Baijiu plate has dropped sharply, leading Moutai Guizhou has opened up and left low, with its share price falling by 5%, the biggest decline since July 2020. Since the new year, some investors have chosen to “settle for safety”. In January, the latest position data of europacific growth fund, the world’s largest fund holding Maotai, showed that it reduced its holdings of about 450000 shares in Guizhou Maotai in the fourth quarter of 2020. The value of the reduced shares is about 700-800 million yuan. During the week-long closing of the Spring Festival in the year of the ox, the latest data show that another heavyweight fund has recently reduced its holdings in Maotai, namely UBS’s (Luxemburg) Equity Fund China Opportunity Fund.

Chinese Academy of engineering’s response to Maotai chief engineer’s shortlist: not a valid candidate yet (people’s daily)

According to the people’s Daily today, on February 18, the person in charge of the relevant departments of the Chinese Academy of engineering made a response to the fact that Wang Li, chief engineer of Maotai Group, was shortlisted for academician. The contents are as follows: according to the relevant regulations on the selection of academicians, the nomination by the China Association for science and technology is one of the channels for the selection of academician candidates. The specific procedure is to be recommended by the local association for science and technology, selected by the China Association for science and technology, and approved by the presidium of the Chinese Academy of engineering. We will continue to pay attention to the situation.

Maotai female chief engineer shortlisted for academician candidate, voice of central media (surging)

According to the news of surging news today, in February 17th, Guizhou Moutai announced on the official account that the Moutai group chief engineer and Chief Quality Officer Wang Li was selected to be the list of academicians of the China Academy of engineering. In this regard, the central broadcasting network also made comments, frankly speaking, there are controversies and doubts about Maotai female chief engineer candidates, and all aspects should be treated with caution.

Resignation of directors of Chengde Lulu company (company announcement)

Chengde Lulu announced today that the board of directors received a written resignation report from director Ma Xiang on February 10, 2021, and Ma Xiang applied to resign from the eighth board of directors of the company for personal reasons. After his resignation, Ma Xiang will no longer hold any position in the company.

Budweiser group sued constellation group for abusing corona brand name (Interface)

Budweiser’s Mexican subsidiary recently sued constellation group, accusing it of violating the agreement on the use of corona’s brand name and using it in products other than beer, interface News reported today. It is reported that constellation group used the name to its soda water product corona hard seltzer, which contains alcohol and spices. Budweiser said that corona’s licensing agreement only includes beer, not soda. Constellation group responded that the accusation is groundless and is trying to contain a strong competitor.

The founder of Nongfu Shanquan, Zhong Qiong, is worth more than 100 billion US dollars (Beijing business daily)

Zhongqiong, founder of Nongfu Shanquan, is worth more than $100 billion, ranking fifth on the Forbes rich list, surpassing Mark Zuckerberg, founder and CEO of Facebook, Beijing Business Daily reported yesterday. In 2020, after taking Nongfu Shanquan and Wantai biological into the capital market, Zhong’s wealth soared by more than 90 billion US dollars.

Giving 50000 bottles of drinks to left behind office workers during Spring Festival holiday (company news)

Danone’s vitamin beverage brand pulse launched a public welfare activity to send pulse to the people around it during the Spring Festival this year, and provided 50000 bottles of pulse vitamin beverage free of charge with meals for the “unsung heroes” who stick to their work during the Spring Festival in Beijing, Shanghai, Guangzhou and Shenzhen, covering hospitals, downtown business office areas, etc. In addition, pulse also joined hands with Xiong Shen, a young and cutting-edge director, to record the story of left behind office workers. The film “this Spring Festival, guarding the pulse of the city together” attracted nearly 8 million people to watch.

McDonald’s China launches “minimum wage protection plan” (company news)

Recently, McDonald’s China launched the “minimum wage protection plan” to fully support the rework of migrant workers after the new year through a series of preferential activities with great efforts, zero threshold, multiple choices, full platform and multiple scenes. To this end, McDonald’s will upgrade a number of rights and interests of Oh Mackay workplace card, bring a variety of concessions for migrant workers, such as 4-piece set of 25 yuan brand products, 6% discount of 3-piece set of breakfast Mackay, free delivery fee of Maile and voucher, continue to provide value-added special packages for migrant workers from morning to night, and also launch a number of bucket sharing combinations.

Nestle Japan launches veggie latte (company news)

Recently, Nestle Japan announced the launch of a series of Nestle coffee lattes made from plant-based materials to meet the rapid growth of demand for plant-based food in Japan. It is reported that the new products include ready to drink drinks for outdoor and home scenes, instant products and coffee capsules for duoqusi system.  

Yizi shows long term strategy and details of promoting sustainable growth in cagny Forum (company news)

On February 16, Yizi international presented the progress of the company’s long-term strategy and the company’s plan at the cagny forum. Feng Pude, chairman and CEO of Yizi international, said that the company is advancing its first strategic goal to promote the growth of its global and local brand portfolio, and to be more consumer centric in the way of product development and marketing. The second strategic focus is to improve operational excellence through the entire supply chain, help companies win the market and maintain growth in COVID-19. The third strategic pillar is to create a successful culture of growth through measures such as strengthening local accountability and promoting growth thinking. The company reiterated its vision for 2021, as well as its long-term annual financial objectives and capital allocation priorities, including: organic net income growth of more than 3%; high single digit adjusted earnings per share growth at fixed exchange rates; free cash flow of more than $3 billion; and dividend growth exceeding adjusted earnings per share growth.

Herbalife’s net sales reached an all-time high of US $5.5 billion last year (company news)

Herbalife yesterday announced its results for the fourth quarter and the whole year of 2020, showing that it achieved net sales of US $5.5 billion (about RMB 35.5 billion) in 2020, the highest annual net sales in history, with a year-on-year growth of 13.6%. The company has set annual net sales records in Asia Pacific, EMEA (Europe, Middle East and Africa) and North America. The announcement also pointed out that the company will increase its net sales guidance range to a growth rate of 6.0% to 14.0% in fy2021, and announced that the board of directors will approve a new three-year $1.5 billion share repurchase plan.

Nestle and the Federal Institute of technology in Zurich jointly launch the agricultural research program (Foodbev)

Nestle has teamed up with ETH Zurich to set up a new research program aimed at reducing the carbon footprint of agricultural raw materials, foreign media reported yesterday. The project will receive an investment of 2.8 million Swiss francs from Nestle and focus on two main areas: crops and dairy farming. As part of the partnership, the two companies will explore interdisciplinary solutions to reduce the impact of climate change while improving the nutritional quality and yield of dairy products and crops.

Carlsberg to try low carbon glass beer bottles

Carlsberg Marston’s brewery has teamed up with encirc to try out a glass beer bottle that could reduce carbon emissions by up to 90%, foreign media reported yesterday. The trial is part of a series of innovations by the Carlsberg group to reduce the carbon footprint of packaging, which will include the use of “100% biofuel and increase the recycling rate of bottles to 100% while maintaining quality”. Carlsberg said the trial has great potential to support its goal of reducing emissions across the supply chain, with the potential to shift bottles from “the highest carbon emission packaging type to the lowest”.

Diageo launches light tasting Foodbev

According to foreign media reports yesterday, Diageo launched a new Baileys delicious light, which reduces sugar and calories by 40% compared with the classic original Irish cream. Baileys delicious light is made from Irish cream and whisky. New products can be iced, iced, smoothie, hot coffee, iced coffee or sparkling coffee.

Dole Food and total products merge to form a new company in the United States (Financial Times)

Dole Food, the US fruit and vegetable producer, will merge with total products, which is headquartered in Ireland, to form a US listed group that will become the world’s largest fresh agricultural products company, according to the financial times. Total product said on Wednesday it had reached an agreement with Castle & cook, a real estate company that owns a majority stake in Dole holdings, the parent company of Dole, to merge the two into a company with annual revenue of about $9.7 billion.

Hong Kong stock Xinyang Maojian plans to change its name to China Guolong Maotai Group (Dahe)

On February 16, Xinyang Maojian announced that the board of directors proposed to change the company’s English name from Xinyang Maojian to China Guolong Maotai Group. The board of directors of Xinyang Maojian disclosed that the proposed change of the company’s name will better reflect the current situation and future development direction of the group’s business. The Board believes that the new name will establish a more appropriate corporate image and identity for the company, which will be conducive to the business development of the company and in the overall best interests of the company and its shareholders.

Coca Cola tests sustainable paper bottles and plans to replace plastic bottles in the future( cnbeta.com )

 

Coca Cola has announced that it is testing a more sustainable paper bottle in Hungary and will start selling the product in limited quantities online this summer. The R & D team in Brussels is working on the project with the paper little company, a Danish start-up, with the ultimate goal of making bottles “recyclable like paper.”.

 

Nestle to sell several North American drinking water brands for $4.3 billion (Wall Street Journal)

 

On February 17, Nestle agreed to sell most of its North American bottled water brands, including Poland spring, arrowhead and pure life, for $4.3 billion, hoping to start growth by focusing on streamlined, high-end and more fashionable brands. The world’s largest bottled water maker said the sale to private equity firms one rock Capital Partners LLC and metropolis & Co. would allow Nestle to focus on high-end brands Perrier, San Pellegrino and acqua Panna.

 

Kraft Heinz announces $3.35 billion sale of nuts (Reuters)

 

On Thursday, kraft Heinz said it plans to sell its nut business, including most of the American gentleman and corn nuts brands, to Hormel Foods for $3.35 billion. After the news, the company’s share price rose 6%. Miguel Patricio, the company’s chief executive, said kafheinz must focus on areas where it believes it has the greatest competitive advantage and that the deal gives the company the flexibility to invest internally, acquire or repay its debt. Kraft Heinz’s nut business has net sales of about $1.1 billion in 2020.

Kraft Heinz plans to raise prices of some products in the United States this year (Reuters)

 

Kraft Heinz and ConAgra brands said they may choose to raise the prices of some products in the U.S. market this year, as the prices of wheat, sugar and other raw materials used in these products are becoming more and more expensive due to strong demand.

Fuyi’s financial report is gloomy, and it plans to restructure and divest some assets (Aohua Finance)

From 2022, the group will be reorganized into three new divisions, Treasury wine estates said in an announcement yesterday. The three new divisions are: Benfu, Treasury premium brands and Treasury America. In the 2021 half year, China’s tariff increase on Australian red wine had an impact on Fu Yi, which led to a 22% decline in sales of wine from mainland China to the Chinese mainland and a 37.1% decline to 78 million 700 thousand Australian dollars in China’s business. To advance the restructuring, Fuyi will seek to sell some US wine brands, with a total value of about a $300 million.

Heineken’s view on non alcoholic beer brands (Financial Times)


According to the financial times on February 15, Heineken’s new CEO Dolf van den brink said the company will invest more marketing efforts in supporting low-alcohol and non-alcoholic beer, cider and low-alcohol soda to attract women and young customers. He said a quarter of Heineken’s market budget had been spent on the non-alcoholic “0.0” brand, which he believed would account for 5% of the global beer market in five to six years.

 

Carlsberg CEO says beer industry is expected to usher in “normal summer” (Financial Times)


A few days ago, Cees’t Hart, CEO of Carlsberg, told the financial times that although 2021 will be “very uncertain”, it is expected that the blockade will be gradually lifted in the next few months, and the beer industry is expected to usher in a “normal summer”. He said that if the vaccine is applied and works, the company is very optimistic about the future of the industry because people are eager to go out.

 

Heineken plans to cut 8000 jobs in two years (Financial Times)


Heineken will cut 8000 jobs and save 2 billion euros in two years, according to the financial times. Dolf van den brink, the company’s CEO last year, said on Wednesday that he would cut nearly 10% of the Dutch brewer’s 85000 employees as part of a plan to restore profitability and improve productivity. The company reported a net loss of 204 million euros in 2020, compared with a profit of 2.2 billion euros before last year.

 

Quick reading of food industry information

  

 

Seiko Hashimoto, who took over as chairman of the Tokyo Organizing Committee for the Olympic Games, said he would hold the Olympic Games “at all costs” (people’s daily, Xinhua)

According to people’s daily news today, on February 18, the Organizing Committee of the Tokyo Olympic and Paralympic Games held a Council to elect Seiko Hashimoto as the chairman of the Organizing Committee of the Tokyo Olympic and Paralympic Games. According to Xinhua News Agency on February 18, Hashimoto insisted that the Tokyo Olympic Games be held as scheduled this year, and said Tokyo would hold the Olympic Games “at all costs.”.

A bumper harvest after the dry season


According to the Australian crop report February 2021 released by the Australian Bureau of Agricultural Resources Economics (abares) yesterday, Australia’s winter crop production in 2020-2021 increased by 89% over the previous year, reaching 55.2 million tons, the second highest in history.

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