Author: Xiaoshidai Integration
Today's Takeaways
- Australian Penfolds wines are returning
- Zespri is making more preparations for the peak season in the Chinese market
- Yili's European Innovation Center was upgraded
- Xiangpiaopiao's net profit in the first quarter increased by more than three times
- Nestlé and Unilever, among others, revalue investments in Africa
Coca-Cola and Forever 21 collaboration
The latest company news
LVMH pointed to weak Chinese New Year demand in the Chinese market
Yesterday, LVMH released its first-quarter results. During the period, Group revenues amounted to €20.7 billion, up 3% year-on-year. Wine & Spirits grew organically by -12% year-on-year, achieving an operating income of 1.417 billion yuan. LVMH said Champagne revenue was down 8% organically, reflecting the normalization of demand after the pandemic, in addition to a high year-on-year base. Hennessy Cognac's business fell 16 percent, again driven by cautious orders due to the attitude of US retailers, while demand was also weaker in China. (Company Release)
OATLY'S TOTAL REVENUE IN GREATER CHINA LAST YEAR WAS ABOUT $125 MILLION
Today, OATLY pointed out in a filing with the SEC that since January 1 of this year, the Greater China business has been managed separately from other businesses in Asia to form its own operating division. The remaining operations in Asia, including the Singapore plant, are managed alongside the current EMEA business (now known as the Europe and International business). To this end, OATLY provides investors with rebalanced segment financial information. Among them, the total revenue of OATLY Greater China in 2023 will be about US$125 million (equivalent to about 900 million yuan), and US$32.601 million in the fourth quarter. (Company Announcement)
Penfolds wines from Australia are expected to return
Tom King, managing director of Penfolds Global, and Wu Mingfeng, general manager of Penfolds China, revealed in an exclusive interview with reporters that after the official cancellation of China's "double reversal" of Australian wine at the end of March, the first batch of Australian Penfolds wine is expected to arrive in China in mid-May, covering different product lines of Penfolds. This will be the first time in three years that Penfolds Australian products have returned to the Chinese market after the "double reversal" came into effect at the end of March 2021. (21 Finance)
Zespri is making more preparations for the peak season in the Chinese market
Today, Zespri CEO Dan Mathieson said, "This season is off to a good start with a 40% increase in fruit sales in Greater China. He also said that more than a third of Zespri's SunGold kiwifruit will be shipped to Greater China, up from 25% last year, and that four Zespri chartered ships with 3 million plates of kiwifruit have been unloaded in Shanghai. Zespri is a New Zealand company that sells fruits such as kiwifruit, and China is one of the company's largest consumer markets in the world. (Company Release)
Xiang Piaopiao's net profit in the first quarter increased by more than three times
Xiangpiaopiao released its 2023 annual financial report, with an operating income of 3.625 billion yuan and a net profit attributable to shareholders of listed companies of 280 million yuan. On the same day, the company also released its first-quarter results, with a net profit increase of 3.31 times to 25.21 million yuan. (Company Announcement)
Master Kong appointed a new INED
Master Kong Holdings announced that Hiroshi Fukada has resigned as an independent non-executive director and a member of the Audit Committee and the Remuneration and Nomination Committee with effect from 17 April 2024. Masaya Tochio has also been appointed as an independent non-executive Director and a member of each of the Audit Committee and the Remuneration and Nomination Committee with effect from 17 April 2024. According to the announcement, Tokuo is 64 years old and has more than 40 years of experience working in the global food industry, having worked for Ajinomoto Co., Ltd. (Company Announcement)
Happy Home aims to achieve 1 million outlets by the end of the year
Today, Happy Home, a canned food and coconut water manufacturer, said in an interview that in 2024, it will continue to develop terminal outlets around the "Coconut Shark" coconut water series products, and strive to achieve 1 million outlets by the end of 2024. Among them, the company mainly develops key provinces in Central China and East China, such as Henan and Shandong, and will also carry out regional development in the relatively weak South China market. As of the end of 2023, the company has about 700,000 effective terminal outlets. (Beijing News)
Arowana's shareholders' meeting revealed the company's development direction
Yesterday, at the Arowana shareholders' meeting, Chairman Guo Kongfeng talked about the future growth space of edible oil, saying that the edible oil products of Arowana in the future will mainly have two directions: high-end and functional products, among them, high-end will launch camellia oil, peanut oil, etc. In addition, he is optimistic about the prospects in the field of prefabricated dishes, "the next step of investment may be relatively large central kitchens, depending on how the first few central kitchens do, if we reach our ideals, we will (accelerate investment)". (Silver Persimmon Finance)
Yuan Ji Yun dumplings went to New York, USA
Yesterday, Yuan Ji Yun Dumplings' official Weibo announced that Yuan Ji Yun Dumplings will soon land in Manhattan, New York to open a store. According to reports, the project was successfully signed on March 31. (Company Release)
Abbott Milk Powder increased its market share in the U.S. in the first quarter
Today, Abbott released its first-quarter results. During the period, global sales in the nutrition business increased by 5.1% year-on-year and 7.7% organically. Global sales in Pediatric Nutrition increased by 9.2 percent in reported volumes, with sales in the U.S. up 12.0 percent, primarily due to market share growth in the infant formula business, and sales in international markets up 6.4 percent, driven by strong growth in Canada and some countries in Asia Pacific and Latin America. Adult Nutrition grew global sales by 1.5% year-over-year and 5.3% organically, driven by growth under the Enrich brand. (Company Announcement)
永旺旗下连锁药妆店总裁松本忠久辞职
Welcia Holdings, a subsidiary of Aeon and Japan's largest pharmacy chain, announced on Wednesday that the company's president, Tadahisa Matsumoto, had resigned due to "misconduct in his private life." The company believes that Matsumoto Tadahisa has misbehaved in his private life (he was found to be having an affair with a woman outside the company) has damaged the company's reputation, and expresses regret that such a situation has occurred, and sincerely apologizes to all those involved. Yesterday, Tadahisa Matsumoto submitted his resignation letter, which was accepted. Matsumoto, 64, has been with the company for 16 years, according to LSEG. He also served as an executive director of the parent company, AEON. (Kyodo News and Co., Ltd.)
Investment and financing
Vietnam's Masan Group was accused of considering listing its consumer division
Food and beverage company Vietnam's Masan Group is considering listing its consumer division, or what could be Vietnam's largest IPO ever, according to Bloomberg, citing "people familiar with the matter." The deal is said to raise between $1 billion and $1.5 billion. "People familiar with the matter" said that if market conditions are right, the share sale could take place early next year. In addition, he said that discussions are still ongoing and that details such as scale and timing are subject to change. (Bloomberg)
Friday Restaurant will be listed amalgamation with its UK franchise
Yesterday, TGI Fridays and its UK franchise Hostmore announced plans to merge. The all-share deal is worth £177 million, or about $220 million, and the merger is expected to close in the third quarter if regulatory approvals are received. If the merger goes through, Friday Restaurant will be publicly traded on the London Stock Exchange. Chief Executive Officer Weldon Spangler TGI Fridays said the restaurant is now returning to its roots and focusing more on its bar offerings. （CNBC）
R&D and innovation
Yili's European Innovation Center was upgraded
Tomorrow, the upgrading ceremony of Yili's European Innovation Center and the inauguration ceremony of the Global Maternal and Child Nutrition Research Center will be held at Wageningen University in the Netherlands. The center was established in 2014, after years of development, the center has made achievements in the fields of breast milk research, probiotic development, cheese innovation, sugar reduction, food safety, AI technology product development, etc., and has transformed these technological achievements into product research and development, including Jinlingguan infant formula milk powder, Ambrosia room temperature yogurt, Jindian active lactoferrin organic pure milk and other products. (Company Release)
The first packaging industry R&D center in Guizhou Province was unveiled
On April 16, Moutai Technology Development Company - China Liquor Packaging Technology R&D Center (Zunyi) was unveiled. It is also the first R&D center in the packaging industry in Guizhou Province. According to reports, the center will enhance the R&D capabilities and R&D level of Moutai's supporting packaging, and consists of three R&D sub-centers for wine bottles, bottle caps and paper products. (Company Release)
Mondelēz visited the School of Food Science and Technology of Jiangnan University
Recently, Zhu Yiqing, Vice President of Marketing and Development of Mondelēz Greater China, and Gu Manhu, Senior Director of R&D, visited the School of Food Science and Technology of Jiangnan University. The two sides discussed future food trends such as food sustainability, artificial intelligence, and food customization. The visit will lay the foundation for cooperation between the two sides in food R&D and technological innovation, and promote the healthy and sustainable development of the food industry. (Company Release)
Coca-Cola joined hands with Chinese Olympic stars to launch themed activities
Today, Coca-Cola and Chinese Olympic stars launched an Olympic QR code sweepstakes, but the names of these Olympic stars have not yet been announced. According to reports, you can participate in the lottery by scanning the QR code in the cover of Coca-Cola's Olympic-themed series products. (Company Release)
A2 adult milk powder new purple tons on the market
Today, A2 official media announced the launch of advanced nutrition series purple ton ton ton products. According to reports, the series includes two models: self-protection (IMMUNE) and action (MOVE). It is reported that lactoferrin is added to the self-care milk powder, and high-quality protein and bone collagen peptides are added to the action milk powder, as well as 1300mg of original high calcium and vitamin D. (Company Release)
Lay's USA announces a new ad collaboration with Messi
Yesterday, Lay's USA announced that it had partnered with Lionel Messi to shoot a new commercial and release a new football campaign slogan "Oh-Lay's, Oh-Lay's, Oh-Lay's, Oh-Lay's". "Chip" means potato chips, while "chip shot" means "goal", and the connection between the two forms the premise of the cooperation between the two parties. Not only that, Lay's also launched the "Lay's x Macy's" limited edition potato chips. In addition, within 48 hours of Messi's first goal of the 2024 football season, Lay's will launch a raffle on social media. (Company Release)
Coca-Cola and Forever 21 launch limited edition clothing, accessories and more
Today, Coca-Cola and Forever 21 announced a limited edition collection of womenswear, menswear, accessories, beauty products, jewelry, hair accessories and handbags. Inspired by clothing and accessories from the '70s, the collection is said to be reminiscent of the iconic 1971 advertisement, with the song "I want to buy the world a Coke" and the design highlights the classic Coca-Cola logo, featuring vintage art, prints and graphics that pay homage to flavors such as Coca-Cola, Diet Coke and Cherry Coke. The limited edition will be available in select Forever 21 stores and online. （WWD）
Mars launches a new chocolate cake in the UK
Yesterday, Mars announced that it will launch a caramel cake called Galaxy. Allegedly, the product is filled with caramel sauce and covered with chocolate cream, chocolate chips, and drizzled with caramel sauce. Michelle Frost, General Manager of Mars Chocolate Drinks & Snacks, said, "The eight-serving chocolate caramel cake is perfect for smaller occasions to share with colleagues and friends, or as a family meal over the weekend." In addition, the product is already on the shelves of Tesco and Sainsbury's in the UK for £4. （foodbev）
ESG
General Mills has faced criticism for its excessive use of plastic packaging
General Mills has faced increasing shareholder criticism for failing to respond to shareholder calls for greater sustainable packaging. About two years ago, the Green Century Funds received a majority of General Mills shareholders to require General Mills to set targets for reducing plastic waste and provide regular progress reports. But the Green Century Fund says little progress has been made. According to General Mills, the company is committed to achieving a goal of 100% recyclable or reusable packaging by 2030. Jamie Bastian, a spokesman for General Mills, said, "93% of packaging is recyclable (by weight). And at the request of shareholders two years ago, General Mills was also required to disclose the status of its use of plastics. (Bloomberg)
Cargill and Nestlé Purina wanted to reduce the carbon footprint of their pet food
Yesterday, Cargill and Nestlé Purina will form a partnership to invest in regenerative agriculture in the corn and soybean supply chains. This work will reduce the carbon footprint of Purina pet food. According to reports, the move is estimated to reduce the carbon footprint of Cargill's Purina grain supply by up to 40% over the next three years. (Company Release)
Industries at a glance
Nestlé and Unilever, among others, revalue investments in Africa
Bloomberg said today that the investment of multinational companies in the African market is on a downward trend, with Nestle, Unilever and others reducing or closing production lines in the region. This change is mainly due to the difficult business environment caused by multiple factors such as currency depreciation and poor infrastructure. In the face of this situation, TNCs have generally shown caution about expanding their operations or maintaining existing ones. (Bloomberg)
Chinese milk tea brands are accelerating their overseas expansion
Yesterday, the Financial Times article pointed out that Chinese milk tea brands are seeking financing and expanding overseas, boosted by the recent domestic economic boom. Cha Baidao, which plans to list in Hong Kong, said at a launch event in Hong Kong on Monday that the overseas market has "huge potential" and has opened its first overseas store in South Korea in 2023. In addition, Chamodo also sees opportunities in Southeast Asia. Heytea officially opened its branch in New York in December last year. In 2018, Mixue Bingcheng opened its first overseas store in Hanoi, Vietnam, and now has more than 3,000 stores overseas. (Financial Times)
Guangzhou Customs seized health care products illegally carried into the country
Recently, Guangzhou Customs seized a batch of health care products illegally carried into the country by passengers at the airport port of Guangzhou Baiyun Airport, totaling 1,374 bottles. The passenger concerned admitted that he had brought the above-mentioned health products into the country for the purpose of selling them for profit. (Issued by Customs)
Internet+
Meituan launched the "God Member" marketing tool
According to Ebang Power, Meituan has been promoting a marketing tool called "God Member" to merchants since April. It is said that merchants participating in the program can obtain store traffic in the two major coupon issuance channels of Meituan's "Free God Coupon" and "God Member Save Wallet". At the same time, Meituan will also open a number of traffic entrances in the future, including adding a new God Member entrance to the user interface, and adding a "God Member" label to the search tab and list page. A Meituan insider said that for the time being, "God Members" only open up all scenarios of the in-store business, and have no plans to open up the home-to-home business. "But we don't rule out the possibility of opening up in the future," he added. (Ebang Power)