China Food

Tims coffee received new financing, bubs’s loss increased sharply due to purchasing on behalf of customers, the first product of pulse was 0 sugar, Pepsi’s new liquor beverage, the IPO review of Meilu stock was terminated, and the net income of other meat customers rose sharply last year

Hot company information and announcement


Luo Jiaxiang, chief accountant of COFCO, has been charged with corruption and bribery (people’s daily)


Yanghe shares released 2020 performance express (company announcement)

Yanghe shares released its performance express today. In 2020, it achieved a total operating revenue of 21.125 billion yuan, a year-on-year decrease of 8.65%; in 2020, its annual net profit was 7.477 billion yuan, a year-on-year increase of 1.27%.

Tim Hortons China completes a new round of financing and continues to increase investment in the Chinese market (company news)


According to Tim Hortons news today, Tim Hortons Coffee China (hereinafter referred to as “tims coffee”) has completed a new round of financing, which is led by Sequoia Capital China fund, increased by Tencent and followed by Zhongding capital. Tims coffee plans to use this round of funds for store expansion, digital infrastructure and brand building. In 2021, more than 200 new cafes are planned, including standard stores, TIMS go and theme stores. In the next few years, the plan to open 1500 cafes in China will remain unchanged.

Meilu IPO termination review (Beijing business daily)

The official website of China Securities Regulatory Commission (CSRC) recently announced the list of enterprises whose initial public offering (IPO) in 2021 was terminated, among which Meilu shares was listed. On February 25, in response to the reason that the review of the initial public offering of Meilu shares was terminated, the relevant person in charge of Meilu shares said, “please pay attention to the relevant information of subsequent public disclosure for the specific situation.” It is reported that Meilu Co., Ltd., established in 2001, is one of the few infant formula manufacturers in Jiangxi Province. As early as July 2019, Meilu stock was listed in Jiangxi securities regulatory bureau for guidance and filing. In August 2020, the Securities Regulatory Commission disclosed the prospectus of Meilu biology on its official website. In this IPO, Meilu Co., Ltd. plans to issue no more than 25 million shares, raising about 383 million yuan, which will be used for the construction of 10000 tons of infant formula powder, milk powder and refueling whey ingredient powder production line, the construction of nutrition and health research and development center, brand promotion and channel construction, etc.

Yili shares: successfully issued 1 billion yuan of ultra short term financing bonds (tonghuashun Finance)

Yili shares announced yesterday that the company successfully issued the eighth issue of 2021 ultra short term financing bonds on February 24, 2021, with a total amount of 1 billion yuan, a term of 30 days and an interest rate of 2.50%.


Pulse launches first 0 sugar vitamin drink (company news)

According to Danone’s official wechat news today, its pulsation launched its first Zero sugar vitamin drink, which contains vitamin C, nicotinamide and dietary fiber. The new product has two flavors of perfume lemon and white peach. It is sold in 450ml bottles, and it has been sold in pulse Tmall and Jingdong flagship stores in February 25th.



First production season of lucky coffee


According to 36 krypton yesterday, the first batch of high-quality Yaga Sheffield purchased by lucky coffee in Ethiopia in 2020 / 2021 production season on the 24th has completed the first stage of baking plan. In order to ensure that the “small black cup · SOE Yaga Sheffield” was launched nationwide on March 1, the batch of 96 tons of raw coffee beans were all transported by charter plane and arrived in China before the Spring Festival, which is the first case in the export history of Ethiopia. This batch of coffee beans is also the first batch of new season Ethiopian coffee to arrive in China.

St Weilong completes legal person change procedures (Interface)

According to the interface news yesterday, Weilong wine Co., Ltd. (hereinafter referred to as “St Weilong”) announced that according to Article 8 of the articles of association, “the chairman of the board is the legal representative of the company”, the legal representative of the company was changed to Huang zuchao. The company completed the business registration procedures for the change of legal representative on February 23, 2021, and obtained the business license renewed by Yantai administrative examination and approval service bureau. It is reported that st Weilong held the third interim meeting of the Fifth Board of directors on February 6, deliberated and passed the “proposal on electing the chairman of the Fifth Board of directors and changing the legal representative of the company”. The board of directors elected Huang zuchao as the chairman of the Fifth Board of directors for a term from the date of deliberation and approval of the board of directors to the expiration of the term of the Fifth Board of directors.

The net income of beyond meat last year increased by 36.6% year on year (company announcement) today, according to the results of 2020 released by beyond meat, the net income of the whole year was US $406.8 million, an increase of 36.6% year on year, and the net loss during the period was US $52.8 million.

Danone invests 12 million euro to expand the production capacity of plant-based products (Foodbev)

Danone has invested 12 million euros to build a new plant-based product line at the parets del Vall è s plant near Barcelona, Spain, to produce coconut and oat based products under the brands of alpro, Activia and OIKOS, foreign media reported yesterday. The plant will therefore become Danone’s first to produce yogurt and plant-based products at the same time.


Purchasing agent market collapses, bubs losses soar (Aohua Finance Online)

According to the Australian news today, the baby formula goats’ milk company Bubs announced that COVID-19’s operation was seriously hit by the breakdown of the purchasing market. In the half year to December 31 last year, the company suffered a loss of a $12.9 million (about RMB 65.62 million), compared with a loss of a $7.56 million in the same period of last fiscal year, an increase of 71%. In addition, although the company increased its investment in traditional e-commerce sales channels in Australia and China, its revenue still fell 33% to a $18.29 million. Loss before interest, tax, depreciation and amortisation increased from a $5.3 million to a $14.4 million a year ago.

Heineken announces new distribution partnership in Brazil (Interface)

Recently, the official website of Heineken group announced that Heineken, Coca Cola and Coca Cola system of Brazil have reached an agreement to redesign their long-term distribution partnership in Brazil. The agreement marks a new milestone in the relationship between the companies and readjusts the interests of all parties. The agreement is expected to come into effect in mid-2021, according to which the two sides will make a smooth transition from Heineken beer and Armstrong brands to Heineken Brazil distribution network. Brazil’s Coca Cola system will continue to serve Kaiser, Bavaria and sol, and will complement this portfolio with high-end brand eisenbahn and other international brands.


Performance of Domino’s Pizza affected by increased competition and epidemic related costs (Reuters)

On Thursday, it said that the same quarter sales growth slowed down due to fierce competition from other fast-food chains, rising trend of home catering and related costs to COVID-19. It is reported that the growth rate of the company’s same store sales in the United States slowed to 11.2% from 17.5% in the previous quarter, lower than the market expectation. According to refinitiv ibes, total revenue for the fourth quarter of last year (the quarter ending January 3, 2021) grew by about 18% to $1.36 billion, slightly lower than Wall Street’s forecast of $1.39 billion. During the period, net profit rose about 18% to $151.9 million, or $3.85 per share, lower than analysts’ expected $3.89 per share.

Pepsi launches neon zebra cocktail (Foodbev)

Pepsi has launched a new neon zebra series of cocktail drinks with four flavors including Margarita, strawberry Daiquiri, mogito and whiskey acid, foreign media reported yesterday. However, the new line does not contain alcohol or artificial sweeteners. PepsiCo North America executives said that the company has seized the opportunity brought by the increase in home cocktail consumption, and the new products are designed to meet consumers’ demand for convenience, so as to establish and subvert this fast-growing category.



Quick reading of food industry information


Customs detected 1.49 million imported cold chain food samples and 79 nucleic acid positive samples (General Administration of Customs)

According to the General Administration of Customs yesterday, as of February 25, China’s customs had detected 1.49 million imported cold chain food samples, 79 positive samples of new coronavirus nucleic acid, and all other samples were negative. At present, the General Administration of Customs has held 276 video or teleconferences with 108 countries (regions), spot checked 199 cold chain food production enterprises in 55 countries (regions), and urged overseas official departments and food production enterprises to implement their responsibilities. In order to prevent novel coronavirus pneumonia, we suspend imports of some enterprises in time and prevent the risk of pollution at the source. We suspend imports of 129 registered enterprises in 21 countries that have contracted new crown pneumonia and 110 enterprises independently suspend exports to China. Emergency preventive measures have been implemented for overseas food production enterprises with positive detection of NCV nucleic acid. Emergency preventive measures have been taken for 56 food production and operation units in 16 countries. The number of imported cold chain food packages for preventive disinfection at ports in China has reached 18.98 million.


Mid February Baijiu price increased by 6.86% (Interface)

According to the information from the interface yesterday, the national Baijiu price survey data showed that the total index of Baijiu wholesale price in February 2021 was 106.86, up 6.86%. Among them, famous liquor price index was 108.39, up 8.39%; local liquor price index was 104.55, up 4.55%; base liquor price index was 106.74, up 6.74%.

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