The cross-border coffee market of Baitasi, a well-known time-honored pharmacy, promotes traditional Chinese medicine coffee; Yum China announced that it will be dual-listed on the Stock Exchange and the New York Stock Exchange with an effective date of October 24; LV China's first restaurant is expected to open in Sino-Ocean Taikoo Li Chengdu in late October or early November; The number of Tims coffee stores exceeded 500 and the number of stores is planned to reach 2,750 by 2026. For details, please refer to the "Store Opening Guide" of the turntable.
The well-known long-established pharmacy White Pagoda Temple
The cross-border coffee market pushes traditional Chinese medicine coffee
According to news, recently, the well-known time-honored pharmacy Baita Temple launched the "Cultural and Creative Hall" brand, selling a variety of Chinese herbal elements cultural and creative products, including Chinese herbal sachets, medicine-themed measuring cups, etc. In addition, it also crosses the border to participate in the market of "traditional Chinese medicine + coffee".
Enterprise investigation shows that Beijing Baitasiyao Coffee Co., Ltd. was established in April this year, held 51% by Beijing Baitasi Pharmacy Chain Company, and the scope of business licenses includes catering services and food sales.
△Image source: Qicha screenshot
At present, the company has not registered a brand trademark, and in July it launched cultural and creative products such as tea and sachets in the "2022 National Trend New Consumer Brand Growth Conference", and said that it will launch a new brand "medicinal coffee" within the year, so that consumers can sit in the store and taste coffee and health drinks.
On October 14, the reporter visited Yao Coffee, which was in its recent soft opening, and found that the store not only provided professional hand-brewed coffee, but also drank the Internet celebrity drinks of the White Pagoda Temple Pharmacy, and could also eat authentic Chinese court dumplings and creative Western-style desserts.
According to the relevant person in charge of the White Pagoda Temple Pharmacy, since it is produced by a century-old pharmacy, health tea is naturally a feature. Both Roselle Plum Drink and Sydney Soup Drink are specially prepared by Baita Temple Pharmacy based on traditional secret recipes for rich and healthy taste. Each non-coffee drink corresponds to a surrounding alley name, taking its literal mood or backstory. A variety of drinks are also adjusted according to the season and season.
The person in charge said that with 150 years of history as the accumulation, Baitasi Pharmacy innovates in inheritance and relies on its own advantages, hoping to open up new business growth points through a way that young people like to hear, which not only spreads traditional Chinese medicine culture, but also revitalizes time-honored brands in the new era.
Yum China's dual listing will take effect on October 24
According to comprehensive news, on the evening of October 19, Yum China issued an announcement on the dual primary listing on the main board of The Stock Exchange of Hong Kong Limited (hereinafter referred to as the "Stock Exchange of Hong Kong"). According to the announcement, on October 24, 2022, Yum China voluntarily converted its secondary listing status on the Hong Kong Stock Exchange to a primary listing will take effect. Yum China will be dual-primary listed on the Hong Kong Stock Exchange and NYSE, and will remove the ticker "S" from its stock abbreviation "Yum China-S" on October 24.
At the same time, the announcement announces that Yum China has appointed Pingping Liu, Corporate Secretary and Senior Legal Director; and Tang King Yin of Tricor Professional Services Limited as Joint Company Secretary with effect from the Effective Date.
△Image source: Yum China official website
In August this year, Yum China announced that it had applied to the Stock Exchange for its voluntary conversion of secondary listing status to primary listing status. and received confirmation of receipt from the Stock Exchange on 15 August 2022.
It is understood that Yum China was listed on the Hong Kong stock market on September 10, 2022. Previously, the company was listed on the New York Stock Exchange on November 1, 2016 under the ticker symbol "YUMC".
Yum China said that after the effective date, Yum China's financial statements will continue to be prepared in accordance with U.S. GAAP and audited in accordance with the standards of the U.S. Public Company Accounting Oversight Board. In addition, the company noted that if it were to adopt accounting standards different from those in the United States for disclosure in Hong Kong, it might cause confusion among the company's investors and shareholders. Applying the same accounting standards for disclosure in both markets would mitigate such confusion.
Jiumaojiu plans to build a production plant in Chongqing
According to news, on October 19, Jiumaojiu issued an announcement on the acquisition of land. According to the announcement, Jiumaojiu has entered into an assignment contract with the Chongqing Fuling District Planning and Natural Resources Bureau on October 19, 2022 to acquire the land use rights of a parcel of land with an area of 33,173 square meters located in Fuling District, Chongqing, China, for a period of 50 years for a total consideration of RMB 9.96 million.
△Image source: Jiumaojiu official website
Regarding the use of this land, Jiumaojiu said that it intends to build a production plant for hot pot base and compound seasoning, and build a central kitchen in southwest China for the procurement, storage and processing of ingredients and hot pot seasonings, and provide functions including logistics, delivery and brand display. Jiumaojiu also said that it is estimated that the capital expenditure incurred in the construction of production plants and central kitchens and the purchase of equipment and facilities in the next two years will be about 200 million yuan.
There are 168,000 coffee-related enterprises in the mainland
According to news, the domestic coffee market has continued to expand in recent years, and enterprise inspection data shows that there are 168,000 coffee-related enterprises in the mainland. In the first half of 2022, 15,000 new coffee-related enterprises were added, a year-on-year increase of 24.3%.
△Image source network invasion and deletion
Enterprise investigation shows that in the past ten years, the number of registrations of coffee-related enterprises in mainland China has increased steadily, of which it was in a stage of rapid development from 2012 to 2015, and the growth rate remained between 20% and 30%; By 2015, the number of new enterprises exceeded 20,000, a year-on-year increase of 29.5% to 23,200; from 2017 to 2019, the coffee market entered a relatively stable stage, with 26,900 new to 27,500 new enterprises per year; in 2020, the number of domestic coffee-related enterprise registrations decreased by 18.8% year-on-year to 22,400; and the number of new registrations in 2021 rebounded by 15.8% year-on-year to 25,900.
In addition, according to the "China Catering Development Report 2022" recently published by a website, the scale of the mainland coffee market will reach 154.7 billion yuan in 2021, of which the freshly ground coffee market will be nearly 60 billion yuan. In 2022, the scale of the mainland coffee market will further grow to nearly 170 billion yuan, and the scale of the freshly ground coffee market will continue to grow.
LV China's first restaurant will open in Chengdu
According to reports, Louis Vuitton, the world's largest luxury brand, will cooperate with Michelin or Black Pearl Two Diamonds to open its first restaurant in China, which is expected to open in Sino-Ocean Taikoo Li in Chengdu in late October or early November.
It is understood that this is not the first time Louis Vuitton has tried to open a restaurant. The world's first restaurant, Restaurant Mory Sacko at Louis Vuitton, officially opened in June this year in the French resort of Saint-Tropez, focusing on dinner, and is LV's first true restaurant.
Further along, Louis Vuitton also crossed over the catering industry by opening pop-up shops and cafes. In February 2020, LV opened its first café, Le Café V, on the top floor of Osaka Midosuji, Japan's largest flagship store; In May, LV and French chef Pierre Sang Boyer launched their first pop-up restaurant in South Korea.
Image source: Louis Vuitton official website
It is reported that LV's first store in Chengdu this time integrates giant panda elements in the overall design, divided into two floors, the building is surrounded by green plants, a large area of floor-to-ceiling windows constitute a wall, so that the whole space is full of light, strong permeability, wide vision, floor-to-ceiling windows are decorated with LV classic old flower patterns, and a large panda sculpture is placed in the decoration area on the left side of the main entrance, and the soles are printed with LV classic old flower patterns. Not only that, LV also used the season as a marketing point, and launched a new autumn installation of red balloons and colorful pandas.
At present, the title of "LV China's first restaurant" has attracted many consumers. Some consumers said that LV restaurants spend 3,000 per capita, and the reservation of the first store has been scheduled for half a year.
The number of Tims coffee stores exceeded 500
Tims Coffee official WeChat news, on October 18, 2022, Tims Coffee's 500th store in China officially settled in Dongguan, Guangdong. This is another milestone for Tims Coffee following its launch on the NASDAQ on September 29. At the same time, Tims China announced that the company achieved revenue of 404 million yuan in the first half of 2022, compared with 237 million yuan in the first half of 2021, a year-on-year increase of more than 70%. At present, Tims Coffee is still accelerating its layout, hoping to achieve the goal of opening 2,750 stores by 2026.
It is understood that Tims' 500th store is also its first store in Dongguan. The store adheres to the warm style of Tims Coffee, and the semi-open store is entrusted with an open terrace, creating a romantic and fragrant sense of coffee on the street; The visual experience brought by the unified wooden plank laying is as if you are in the mountains and surrounded by fresh air; The iconic maple leaf motifs are intertwined with intricate patterns that blend in with the vibrant city of Lingnan.
△Image source: Tims Coffee official blog
Yongchen Lu, CEO of TIMS China, said: "This year, we welcome the golden autumn in a special way. After the successful listing of TIMS China, it opened its 500th store. This is a testimony of our deep commitment to the Chinese market, and we are willing to take this opportunity to provide consumers with better service and coffee experience. ”
The small print of the café indicating that the checkout is subject to separate tax has been challenged
According to reports, recently, Ms. Yin from Chengdu, Sichuan Province, reported that she dined at The Temple House Cafe at the Taikoo Li Boshe Hotel in Chengdu, and was told to add a 10% service charge and 6% value-added tax at checkout. Ms. Yin believes that the café did not clearly indicate the price in a prominent position, which is suspected of price gouging.
Ms. Yin said she spent at the restaurant on October 2, and the drink on the receipt was 82 yuan at checkout, but the bill had a 10% service charge and 6% VAT, and she was required to pay a total of 95.61 yuan. Although there is a row of notes at the bottom of the café menu, the prompt reads: "Subject to 10% service charge and 6% VAT on the total bill". However, Ms. Yin believes that the remarks are not a substitute for clearly marking the price, "They have a reminder to add VAT on the menu, but the location is not obvious, and the waiter did not give relevant reminders beforehand." ”
Ms. Yin said that the "Provisions on Clearly Marked Prices and Price Fraud", which came into effect on July 1, 2022, clearly stipulates that business operators shall not carry out price gouging, which is not to indicate or weaken the price conditions that are unfavorable to consumers or other business operators, and trick consumers or other business operators into trading with them. She believes that the merchant's price tag qualifies as price gouging.
△Image source network invasion and deletion
Afterwards, Ms. Yin complained to the relevant local authorities about the behavior of the business. In this regard, The Paper interviewed the Jinjiang District Tax Bureau, and a staff member said: "A small number of merchants in Chengdu do have such a price, in order to let consumers see clearly, so the cash register is specially set into how much the goods are, and how much VAT should be paid for the goods." Strictly speaking, as long as the merchant has paid the tax normally at the tax office. In this case, an invoice can be requested from the merchant. ”
After investigation and verification, the Jinjiang District Market Supervision and Administration Bureau also replied to Ms. Yin that there was such a reminder of fee collection on the café menu (menu), which was indeed very small, and the market supervision department could recommend rectification, but could not punish and force rectification.
Ajisen China's same-store sales down 11.1% in Q3
According to news, on October 18, Ajisen (China) Holdings Co., Ltd. released its business sales for the third quarter on the Hong Kong Stock Exchange.
According to the announcement, Ajisen (China) same-store sales in the third quarter fell by 11.1% year-on-year, and the sales of fast casual restaurant business fell 14.7% year-on-year in the third quarter. Compared with the second quarter, Ajisen (China) performance recovered slightly. In the second quarter of 2022, Ajisen (China) same-store sales decreased by 28.7% year-on-year, and sales of fast casual restaurant business decreased by 47.0% year-on-year in the third quarter.
△Image source: Ajisen Ramen Official Blog
In addition, according to Ajisen (China)'s financial report for the first half of 2022, Ajisen (China) achieved revenue of 677 million yuan in the first half of the year, a year-on-year decrease of 33.1%; There was a net loss of 107 million yuan, and a profit of 49.658 million yuan in the same period of 2021. As of June 30, the total number of Ajisen (China) restaurants was 669, compared to 707 in the same period of 2021. In terms of provinces, the number of stores in Shanghai, Jiangsu and Zhejiang ranked the top three, with 119, 78 and 72 stores respectively.