China Food

Coca Cola nominated former Facebook executives as directors, Mars referred to rainbow sugar as “safe”, President of Mengniu referred to the absence of large-scale inflation in China’s dairy products, and Nongfu Shanquan’s net profit in the first half of the year may increase by 5%

Hot company information and announcements



Mars refers to rainbow sugar “safety” and “compliance with laws and regulations”

A few days ago, foreign media reported that a U.S. consumer recently sued Mars, a confectionery manufacturer, alleging that the titanium dioxide contained in its rainbow sugar exceeded the standard and was “not suitable for human consumption”. In response, Mars (China) staff responded that Mars products produced in the Chinese market are safe, comply with laws and regulations, and consumers can eat them at ease. (Red Star News)

Zeng bin stepped down as the legal representative and chairman of daily Youxian

Recently, Beijing Daily Youxian e-commerce Co., Ltd. has undergone industrial and commercial changes. The co-founder Zeng bin stepped down as the legal representative, chairman and manager, and sunyuying was added as the legal representative, executive director and manager. Beijing Daily Youxian e-commerce Co., Ltd. was established in October 2014, with a registered capital of about 3.195 billion yuan, and is wholly owned by missfresh HK Limited. (interface News)

President of Mengniu: China’s dairy products are not experiencing large-scale inflation

Today, Lu Minfang, President of Mengniu, said that the dairy industry should speed up the promotion and application of digital intelligence technology and create more output under limited resources, so as to ensure the safety, stability and sustainability of the industrial chain. He also said that in the context of the current overall growth in global commodity prices, China’s dairy products not only maintained stable supply, but also stable prices, without massive inflation. (issued by the company)

CICC research: the net profit of Nongfu mountain spring in the first half of the year may increase by 5%

A few days ago, CICC released a research report that it is expected that Nongfu Shanquan’s revenue in the first half of this year will increase by 7% year-on-year, basically in line with market expectations, and the net profit during the period will increase by 5% to 4.22 billion yuan, exceeding market expectations, mainly due to better cost side control and the contribution of exchange earnings in the first half of this year. According to the data of CICC supermarket, the sales of Nongfu mountain spring tea beverage in the supermarket channel from January to May this year increased by 42% year-on-year, showing a strong performance, while the packaged water sector also grew steadily due to its rigid consumption attribute, while fruit juice and sports drinks performed relatively weakly. (gelonghui)

Coca Cola nominated former Facebook executive as director

Today, Coca Cola announced that it would add a new member to its board of directors: Carolyn Everson, former president of instacart, an American fresh food e-commerce giant, was nominated. She previously served as a vice president of Facebook and a leader in advertising and marketing at Microsoft. “Caroline has rich experience in several large companies.” Coca Cola CEO said today. (company announcement)

General Mills completes the sale of helper and suddenly salad businesses

Yesterday, General Mills announced that it had completed the sale of its helper main meal and suddenly salad side dishes businesses for about $610million, which were acquired by Eagle family foods group. By the end of last year, the revenue of these businesses was $235 million. (issued by the company)

Diageo invested 200million euros to build a carbon neutral distillery

Recently, Diageo announced that it would invest 200million euros to build a carbon neutral brewery in Ireland. The raw products are mainly beer, and the brands include rockshore, harp, house 13, Smithwick’s, Kilkenny and Carlsberg. This will become the second largest distillery in the country. (food navigator)

PepsiCo’s largest factory opens next year

PepsiCo recently announced that it plans to build its “largest and most sustainable” factory in Denver, the United States, which is expected to be put into use next year, creating about 230 new jobs. (beverage daily)

Starbucks said it closed some stores in the United States for “safety reasons”

Today, Howard, the interim CEO of Starbucks, said in a video posted on twitter that Starbucks is closing its “not unprofitable” stores in the United States due to the increase in safety related issues such as crime, homelessness and drug abuse in the bathroom. The company announced earlier that it plans to close 16 U.S. stores for safety reasons. (Bloomberg)

QSR, a catering company, postponed its IPO plan again

Today, Reuters quoted “sources” as saying that QSR, the operator of KFC and Pizza Hut restaurants in Malaysia, once again postponed its IPO plan of up to $500million because of concerns that poor macroeconomic conditions may damage its valuation. According to reports, people who operate fast-food chains in Brunei, Cambodia, Malaysia and Singapore

Deliveroo, a British takeout company, lowered its performance expectations

Yesterday, deliveroo, a British food distribution company, sharply lowered its annual revenue forecast as consumers in the country cut spending amid a sharp increase in the cost of living. Since its listing in March 2021, the share price of deliveroo has fallen by more than three quarters. (Reuters)

Quick reading of food industry information



Korean people boycotted on the Internet because fried chicken was too expensive

The price of fried chicken in South Korea has soared recently, with the price of a whole fried chicken reaching 30000 won (about 153 yuan), Seoul Economic Daily reported on the 18th. South Korean people have said that they “can’t afford it”, and there has been a boycott of fried chicken in online communities. (World Wide Web)

Iqiyi and Tiktok group reach a cooperation

Today, iqiyi and Tiktok group announced that they have reached a cooperation and will explore the secondary creation and promotion of long video content. This marks the opening of a new mode of win-win cooperation for long and short video platforms. (Zhongxin longitude and latitude)

Tencent Video: the report on the strategic cooperation with a company for growth video second innovation is untrue

Tencent video posted an article on the official Weibo: “we have noticed the false report today about Tencent video’s strategic cooperation with a company to achieve growth video two innovation, and hereby declare this news as a rumor.” (Beijing News)

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