China Food

Lihewei completed round D financing, and zhenzhai, its high-quality prefabricated vegetable brand, completed a new round of upgrading

low temperature prefabricated food is an important direction for the upgrading of China’s food industry, and its market penetration is expected to increase significantly.
Recently, Lihe flavor, which focuses on the field of food, completed round D financing. This round of financing was jointly led by Huaxing new economic fund and Yinshan capital, and jointly invested by maixing investment, Jianfa Xinxing investment, CICC capital’s CICC Chuanhe fund and micro light venture capital. Taihe capital continued to act as the exclusive financial adviser. The newly increased funds will be used for the research and development of new products of high-quality prefabricated vegetables and the construction of industrial chain polymerization capacity, so as to further enhance the advantage of Lihe flavor at the end of the supply chain.
Founder of Lihe flavor Mr. Wang Bin, chairman of the board, said: “Thank all investors for their support of Lihe flavor, and also thank Taihe capital for its hard work in the financing process. Lihe flavor is a product oriented food industry company, which insists on continuously improving the comprehensive quality of products through supply chain capabilities. After 12 years of precipitation, Lihe flavor has built a team with business development and industrial integration capabilities at the same time. We were born in a good era, and China has the largest in the world The single consumer market has the most active consumer groups. At present, it is the second revolutionary upgrade of China’s food industry. We believe that Lihe flavor has the opportunity to serve its target users by making ‘innovative and practical’ good products, and gradually grow into a Chinese high-quality food company. “
Prefabricated vegetable industry ushers in structural opportunities:
China’s per capita gross national income officially exceeded $10000 in 2019, and consumers have raised significant upgrading needs for the quality of “food”. Coupled with the epidemic catalysis, family cooking in the dinner scene has become more important than in the past. However, with young consumers facing the pursuit of higher quality products and the challenges of cooking skills and time, the pain points of family cooking efficiency need to be solved urgently. China will usher in the golden age of the development of prefabricated dishes, and a number of local high-quality food companies similar to Tyson and solar cooling will be born.
At present, the prefabricated vegetable retail end industry as a whole is in the blue ocean market. How to provide users with products with high product power and real price is an important problem to be answered on the road of competition. Through the integrated supply chain barrier of upstream raw materials, midstream processing technology, downstream proposal and R & D, Lihe flavor has created a series of groundbreaking and high standard prefabricated vegetable products.
Lihe taste focuses on taste and continues to innovate on the supply side:
Lihe flavor is a native food industry chain company in Qingdao. The company has been among the top 20 high-tech growth companies of Deloitte Qingdao for three consecutive years, and was rated as the second among the “top ten capital favored enterprises in Qingdao” at the 2022 global venture capital summit. The 10000 upgrade supercritical extraction equipment independently developed by the company was rated as the “first set of equipment in Shandong Province”. The company has been committed to the development of social and industrial mutual benefits, and has deeply participated in the cooperation between the East and the West and Rural Revitalization. In 2020, the company was awarded the “people’s Corporate Social Responsibility Award – annual poverty alleviation Award” by, and the same year, it was awarded the “dragon head enterprise of agricultural industrialization in Shandong Province” by Shandong Provincial Department of agriculture and rural areas. Wang Bin, the founder of the company, was rated as “the top ten new economic figures of Qingdao in 2021”.
Over the past 12 years, Lihe flavor has accumulated the product R & D capability of leading industries through continuous and deep cultivation of flavor and supply side innovation. The company’s brand of high-quality prefabricated dishes – “zhenzhai” has successively launched innovative prefabricated products such as “cheese beef roll”, “Wellington Steak”, “braised eel with cattail”. Lihe flavor will also use this round of financing funds to continue to invest in its own R & D centers and R & D systems in Shanghai, Chengdu and Qingdao.
In 2022, lihewei, a product oriented food industry company, ushered in its 12th year of establishment, which is also a year for the company to hone its internal skills. Since the beginning of the year, the company has further focused on the polishing and development of products, constantly consolidating the capacity barrier of the supply chain, so as to further meet the quality demand of China’s food market, and strive to lead the improvement of industry thresholds and standards. Lihe flavor is the executive vice chairman unit of the special committee of prefabricated dishes of the China Hotel Association, the drafting unit of the group standards “quality classification and evaluation of prefabricated dishes” and “technical specifications for quality management of prefabricated dishes” promoted by the China Hotel Association, and the drafting unit of the group standards “industrialized standardized Chinese high soup” and “industrialized standardized Chinese thick soup” promoted by the China Cuisine Association.
Recently, Lihe flavor officially completed the brand upgrading of its high-quality prefabricated food brand “zhenzhai” in the conditioned food sector:
The logo of zhenzhai uses four moon icons to express: “whether it’s cloudy or sunny, we should be together and eat well.” Young consumers are busy in the city and under great pressure. However, only when we love life can we be inspired by life. Zhenzhai is a brand of high-quality prefabricated dishes in the home scene. Zhenzhai hopes to help more young users “cook at home”, and can “easily taste global delicious food” at home, so that they and their families can be rewarded and inspired by delicious food, and live a good life together.
Continuous product research and development and a solid supply chain are the foundation of the whole business: Lihe flavor currently has its own controllable raw material factories on the core flavor raw materials such as pepper, tomato and sauce, and has raw material resources in China’s high-quality production areas to ensure the stable supply of high-quality raw materials. In the field of prepared food, Lihe flavor also has a number of deep cooperation composite seasoning factories and prefabricated vegetable factories to ensure the stability of the supply side.
Through solid supply chain capabilities and food industry R & D accumulation, Lihe flavor has created an “innovative and practical” product matrix to provide users with better, more efficient and more practical solutions.
For this round of investment, the chairman of Huaxing capital group Bao fan, the founding partner and chief investment officer of the fund, said: “Low temperature prefabricated food is an important direction for the upgrading of China’s food industry, and its market penetration is expected to increase significantly, and we have observed that this trend is accelerating. On the demand side, with the intergenerational migration of consumer population structure, low temperature prefabricated food has become an important choice for more and more young consumers to eat at home; on the supply side, a new generation of low temperature prefabricated food that is better to eat, more convenient and healthier has been able to meet the majority of consumption Diners’ dining needs. After 12 years of development, Lihe flavor has formed a multi-point layout of the industrial chain. Its low-temperature conditioned food products are outstanding, and have been widely recognized by consumers in the offline head channel. We believe that under the leadership of Founder Wang Bin, Lihe flavor will continue to innovate and grow into an international food group rooted in China. “
Dongfang Hao, chairman and managing partner of Yinshan capital, said: “As an industrial capital deeply involved in the field of supply chain, Yinshan capital has long focused on the food supply chain track, and is firmly optimistic about the enterprises with strong product power and solid supply chain foundation. It is believed that they will release greater momentum to promote the continuous upgrading of China’s food industry. We see that Lihe flavor is inseparable from its strong supply chain R & D and production in the development path from basic seasoning to composite seasoning and then to prefabricated vegetables Production system, as well as the integration ability of the upstream and downstream of the industrial chain. We hope that in the future, Lihe flavor can realize its corporate vision of jointly creating global delicacies and building a first-class food industry group. “
Wu Ruijing, managing director of maxtar investment, said: “China’s frozen conditioned food industry is in a period of growth dividends. Maixing investment recognizes that Lihe flavor has always been product-centered, and has built a solution and R & D system for the whole industry chain. At the same time, with the rapid growth of the downstream high potential energy channels, it has gradually formed the scale advantage of the supply chain of related products. Founder Wang Bin gathered the core team with strong industrial determination and strategic perspective to drive the company’s continuous innovation and bring more high-quality products Products, create global delicacies! “
WangYuLiang, deputy general manager of China Construction Development emerging investment, said: “With the development of domestic food industrialization and the change of consumers’ eating habits, China’s conditioned food industry will usher in rapid development. Based on the accumulation and precipitation of flavor research and development and industrialization in the past decade, Lihe flavor seized the window opportunity of the rapid development of the industry, accumulated a lot, quickly determined the position of innovation leader in the domestic conditioned food industry, and gradually formed a complete industrial chain through mergers and acquisitions Bureau, a food group with a rich product matrix. The core team of the company is young and energetic, with both industrial operation ability, capital operation experience and globalization vision. It is a rare composite team in the industry. It has the opportunity to lead Lihe flavor to continue to lead industry innovation, and actively expand overseas markets, becoming an international comprehensive food group. China Construction Development Group has its own global food raw material resources and overseas sales channels, and is promoting business cooperation with Lihe flavor in many aspects to achieve win-win development. “
Tong xuanzi, head of CICC Chuanhe fund, said: “We have long paid attention to the industrial investment opportunities of prefabricated vegetables that benefit from the industrialization of food, the economy of single houses and the upgrading of residents’ consumption. The R & D ability, customer base and industrial precipitation of Lihe flavor in the upstream condiment field have deepened the company’s core moat, helped the company’s Prefabricated vegetable product line achieve a very high flavor restoration, and successfully created a number of phenomenal popular products. Its ability to continue iterative innovation has also been fully realized Verification has established brand awareness in the minds of consumers and provided consumers with excellent global delicacy and convenient cooking experience. The core executive team of Lihe flavor has the trading experience of many top food companies and has a strategic vision of globalization. We believe that after this cooperation is reached, Lihe flavor will be able to accelerate its growth as a leading Chinese food technology enterprise that provides a global diversified and high-quality healthy and delicious home solution for a new generation of families. “
Twilight venture capital said: “The b-end prefabricated vegetable market has become a definite trend. With the rise of young users and the impact of the epidemic on users’ cooking habits, the demand for C-end prefabricated vegetables has become unstoppable. The structural changes on the supply side have made the development of low-temperature prefabricated vegetables at the right time. The maturity of refrigeration technology, the development of the complex adjustment industry and the development of cold chain logistics jointly provide basic conditions for the development of healthier and more reductive prefabricated vegetables 。 Unlike many channel products, Lihe flavor provides users with cost-effective and highly valued food, which has been recognized by users in many core channels. We agree with the persistence and innovation of Lihe flavor team in product research and development and quality, as well as the industrial integration layout in the supply chain. We expect Lihe, led by the team headed by founder Wang Bin, to continue to create high-quality products, restore overseas delicacies to the table of Chinese people, and promote Chinese flavor to the world. “
Jiang Kaiyang, director of Taihe capital, said: “Conditioned food is a high-quality solution for social and efficient kitchens. Instead of taking out food, it is fresh food. Taking out food solves the problem of eating, and conditioned food solves the problem of cooking. Zhenzhai, a high-quality prefabricated food brand under Lihe flavor, provides consumers with a restaurant level home kitchen solution, which is a rich and ceremonial experience of eating at home. Lihe flavor’s solid supply chain has forged a leading industry-leading product Pinli expects Lihe flavor to benefit more consumers who love food with food technology.
Image source: Lihe flavor
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