China Food

Yizi raised its annual revenue forecast, Tetra Pak withdrew from Russia, lantris newly acquired, Hennessy’s parent company alcohol sales rebounded, and American chicken company paid US $85million for settlement


Hot company information and announcements

 

 

Nestle’s sustainable development action in China focuses on three areas

Recently, Fang Juntao, vice president of Nestle Greater China group affairs and sustainable development, said in an exclusive interview: “Nestle’s sustainable development actions in China mainly focus on three areas: further reducing the carbon footprint, accelerating the transformation of sustainable packaging, achieving sustainable procurement, and contributing to the implementation of China’s dual carbon goals.” (Zhongxin longitude and latitude)

Pepsi representatives visited Linshu County, Linyi

On July 25, Shi yuechen, senior vice president of PepsiCo Asia Pacific Supply Chain, and his delegation visited Linshu economic development zone and Baishi Linshu demonstration farm in Diantou town to learn more about the investment attraction, agricultural development, land policy and business environment of the county. Liuchunchen, Secretary of Linyi Investment Promotion Center, stressed in his speech that PepsiCo group, as one of the top 100 international enterprises, has fully recognized the city’s business environment by selecting and building factories in Linyi. (Linshu financial media)

The price increase of some products of happy home is about 9% – 12%

A few days ago, happy home announced that based on the continuous rise in the costs of the main raw materials, packaging materials, auxiliary materials and energy of the company’s products, the ex factory price of the main product canned yellow peach fruit series was adjusted, and the product price was increased by about 9% to 12%. The implementation of the new price began on July 26. (company announcement)

Sanyuan food’s net profit is expected to decline by 31% in the first half of the year

Recently, Beijing Sanyuan Food Co., Ltd. issued a semi annual performance forecast for 2022. It is expected that the net profit of the company in the first half of the year will decline significantly, among which the cyclical cost of first agriculture and animal husbandry increased, resulting in a sharp decline in the company’s profit in the first half of the year. In addition, the catering business of the company’s investment sector was greatly affected by the epidemic, and its performance fell seriously year-on-year. (chinavisit.com observation)

Hongjiu fruit is listed on the Hong Kong stock exchange

According to the Hong Kong Stock Exchange yesterday, Chongqing Hongjiu Fruit Co., Ltd. was listed on the main board of the Hong Kong stock exchange, and CICC was the exclusive sponsor. (36 krypton)

“Bear claw coffee” has entered round a financing

Chen Dake, the brand head of “bear claw coffee”, which was once popular on Yongkang road in Shanghai, said that it had completed the angel round financing, and now it has entered the round a financing. It may expand to about 100 in the first half of next year, with an estimated budget of 20million. The investor has not disclosed. It is reported that the employment proportion of disabled people in bear claw coffee has exceeded 50%. (Shanghai Securities News)

Campus loan start-up transformation selling vegetables?

Qudian, which used to start with campus loans, has become popular recently by selling vegetables live, but it has also attracted a large number of netizens’ saliva. So that the stars who cooperate with Qu store are eager to “draw a line”. As of press time, the flagship fresh food store of qudian is still broadcasting live. Many netizens have mentioned the words “violent collection” and “lending” in their comments for many times, and some netizens are commenting on their prefabricated dishes and tastes, calling for a rational view. (Morning News)

The German food chain orech plans to expand the Chinese market

According to German media reports a few days ago, the German food chain orech, which has established a foothold in Shanghai, plans to continue to open hundreds of branches in China. Romanracinger, head of oleqi China, said that Shanghai and the Yangtze River Delta are “priority objects at present” and that “there are great opportunities in China. In Shanghai alone, oleqi is likely to open 500 to 600 stores”. (Xinhua News Agency)

361 Pepsi Cola releases new fashion clothes

Sports shoes and clothing brand 361du recently announced that the Brand Co branded Pepsi Cola will launch new fashion clothes. (World Wide Web)

Yizi raised its annual revenue forecast

Yesterday, Yizi raised its annual revenue forecast after announcing better than expected quarterly results, because the rise in product prices did not reduce consumer demand for its products. According to the latest prediction of Yizi, the organic net income will increase by more than 8% in 2022, compared with the previous prediction of more than 4%. (Reuters)

According to the analysis, Nestle opened a coffee factory in Mexico to diversify its procurement

Yesterday, Nestle announced the construction of a large coffee factory in Mexico, which produces instant coffee. Its target markets include the United States. According to the analysis of coffee traders, this move released a signal that nestle hopes to diversify its procurement, because Mexico is far away from Vietnam, which is the world’s largest producer of Robusta coffee beans, which are usually used as raw materials for instant coffee. (Reuters)

American chicken company agrees to pay $85million to settle antitrust charges

Recently, Cargill and the newly established Wayne Sanderson farms agreed to pay US $85million to reach a settlement on the allegations that the two companies violated the anti-monopoly law by sharing wage information of poultry farm workers. Before the two companies reached a civil settlement with the government, the sale of Sanderson farms Inc. (SAFM), the third largest poultry company in the United States, to Cargill and agricultural investment company continental grain Co. for $4.5 billion went through a long review. (Wall Street Journal)

Tetra Pak decided to withdraw after 62 years of operation in Russia

After 62 years of operation in Russia,

French dairy company Randles acquires Italian cheese manufacturer

The French dairy group Lactalis recently announced that it had acquired Ambrosi from Emmi in Switzerland and the family that founded the Italian cheese manufacturer, but did not disclose the purchase price. Market sources pointed out that Ambrosi’s enterprise value under this transaction was about 300million euros. The acquisition allowed Randles to expand its product portfolio and achieve a variety of production synergies. (Reuters)

Hennessy’s parent company’s alcohol business increased by 30% in the last quarter

LVMH group, a luxury goods group, released its second quarter results yesterday. During the period, the sales of its wine and spirits business rebounded strongly from the previous logistics and supply constraints, with an increase of 30%. LVMH raised prices on products from cognac brandy to handbags this year. LVMH owns liquor brands such as Hennessy. (Reuters, Financial Times)

Compas group raised its revenue growth forecast for the second time


Yesterday, compas group, the world’s largest catering service provider, announced that it raised its revenue growth forecast for the second time this year, due to the success of new businesses and the fact that its quarterly revenue exceeded the pre epidemic level. This made its share price hit its highest level in more than two years. The British company also predicted that its profit margin would slow slightly from about 7% in the fourth quarter ending in September, although it maintained its annual profit margin forecast of about 6%. “The reality is that with such a high inflation rate, it is difficult to significantly improve the profit margin.” Palmer brown, the company’s chief financial officer, told analysts. (Reuters)


Chipotle raised prices in the United States to boost its performance

Chipotle’s quarterly profit yesterday exceeded Wall Street’s expectations because several rounds of price increases in the U.S. market helped the tortilla chain mitigate the impact of soaring costs. The company also said that in the second quarter, the profit margin of the restaurant increased to 25.2% from 24.5% in the same period last year. (Reuters)

 

Quick reading of food industry information

 


 

Giant overseas markets are competing to raise prices, shifting inflation to local consumers

Yesterday, Unilever, a British FMCG giant, said that the price of its brands increased by an average of 11.2% year-on-year in the second quarter, but at the cost of a 2.1% decline in sales, which led to an 8.8% increase in basic sales in the quarter. Unilever warned that “the cost outlook is indeed unprecedented” and expected prices to rise further. John Murphy, chief financial officer of Coca Cola, also said that the prices of various products of the company increased by 12% in the second quarter, but the increase actually passed on to consumers was only about 5%. Murphy said that as Coca Cola would continue to “consider pricing in the context of an inflationary environment”, prices might continue to rise in the coming months. The price rise trend is also reflected in McDonald’s, a fast-food giant. McDonald’s same store sales in the United States increased by 3.7% in the second quarter, which the company said was mainly due to rising product prices and flat store traffic. (Wall Street News)

Rookies will strengthen investment in warehousing and distribution

Yesterday, Wan Lin, CEO of Cainiao network, a logistics company under Alibaba group, said at the “Cainiao open week” that he plans to strengthen direct distribution, increase end options and order options, and other ways to improve the logistics experience of consumers. He said that rookies will correspondingly increase investment in warehousing and distribution. So far, rookie has more than 10million square meters of logistics facilities at home and abroad, and has also formed logistics parks, aviation hubs, industrial parks and other different types of logistics assets. The overall scale of logistics assets has exceeded 80billion yuan. Wan Lin revealed that in the future, it will also consider building “main warehouse + standby warehouse” to strengthen logistics resilience and increase relevant investment. (21st Century Business Herald)

Australian avocado is eager to explore overseas markets

Recently, in Australia, the price of a avocado has fallen to a dollar (US $0.70), about one tenth of the price of a lettuce, less than half of the five-year average price of the fruit. Rabobank predicts that Australian avocado production will increase by 40% to 173000 tons by 2026. Australia exported 4% (about 3100 tons) avocado produced last year, mainly to Malaysia, Singapore and Hong Kong. John TYAs, head of the avocado Trade Organization in Australia, said that the industry needed to enter a larger market, including Japan. In the long run, he hopes that South Korea and China will open up their avocado markets. (Financial Times)


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