Author: Xiaoshidai Integration
Today's Takeaways
- Bajifu Cheese was announced as a strategic investment in China
- Danone will increase its investment in Wuxi in the future
- Cudi announced the extension of the store subsidy policy until the end of 2026
- Carlsberg's CEO is particularly pleased with the growth in Asia
- Cocoa futures plunged 27% in two days
Yum China recorded the highest number of net new stores in the first quarter
The latest company news
As soon as Zhang Deqin took over Kweichow Moutai, he held a meeting to emphasize anti-corruption and went to the workshop to investigate
Today, Kweichow Moutai announced that Ding Xiongjun applied for resignation from the company's chairman, director and corresponding positions in the special committee under the board of directors due to work adjustments. Yesterday, Kweichow Moutai announced that Zhang Deqin replaced Ding Xiongjun as the company's director and chairman. As soon as Zhang Deqin arrived at the Moutai Group, he presided over the centralized study meeting of the theoretical study center group of the Party Committee of the Moutai Group, and pointed out that it is necessary to adhere to the principle of "anti-corrosion in order to go far". He also led a team into the liquor making workshop and the hook storage workshop to investigate the production quality of Moutai on the spot. He emphasized that it is necessary to pay attention to the production quality of Moutai in an all-round way and continue to promote the high-quality development of Moutai. (Company release, Red Star News)
Guizhou Xijiu was upgraded to a large-scale enterprise under provincial management
Yesterday, according to the relevant documents of the Guizhou Provincial People's Government, the board of directors and managers of Guizhou Xijiu Investment Holding Group Co., Ltd., which is a large type of provincial management, and the board of directors and managerial team of Guizhou Xijiu Investment Holding Group Co., Ltd., which is a large type of provincial management, were abolished. In addition, Wang Diqiang was recommended as a candidate for director, vice chairman and deputy general manager of Guizhou Xijiu Investment Holding Group Co., Ltd., which is a large provincial manager, and Zeng Fanjun was recommended as a candidate for deputy general manager of Guizhou Xijiu Investment Holding Group Co., Ltd., which is a large provincial manager. Zhang Deqin and Wang Diqiang were naturally relieved of their administrative positions in Guizhou Xijiu Investment Holding Group Co., Ltd., which was formerly the second type of provincial management company. (Cover News)
Yili's performance will say that the industry will improve in the second half of the year
At the performance meeting held today, Pan Gang, chairman and president of Yili Co., Ltd., responded that the pressure on liquid milk is an industry problem, and the cyclical surplus of raw milk and the recovery of consumer demand is less than expected, resulting in an imbalance between supply and demand, and it is expected that the industry situation will gradually improve in the second half of 2024. In terms of downstream channels, Pan Gang revealed that since the Spring Festival, Yili has adjusted the pace of shipments, and accelerated the turnover speed while giving the channel enough time and space to digest inventory, and the overall market competition environment this year is still rational. (CBN)
Yum China added 378 net new stores in the first quarter
Today, Yum China reported first-quarter results of $290 million, down 0.7% year-over-year, and total revenue up 1.4% to $2.96 billion. Same-store sales decreased 3% year-over-year, mainly due to a net new store contribution of 8% and a decrease of 3% in same-store sales, excluding the impact of foreign currency translation. Among them, KFC's total revenue was US$2.23 billion, an increase of 1%, same-store sales decreased by 2%, Pizza Hut's total revenue was nearly US$600 million, same-store sales fell by 5%, and the total number of stores reached 15,022, with a net addition of 378 stores, a new high in the first quarter. (Company Release)
KFC opened its first KCOFFEE in Beijing
A few days ago, KFC's first KFC coffee in Beijing officially opened. KCOFFEE's first store in Beijing is located in Haidian District, and it is opened in the form of "shoulder to shoulder" with KFC Double Elm Restaurant. As of April 1 this year, Coffee Kenyue has opened 100 stores in many places across the country. (Beijing News)
Cudi Coffee announced that the store subsidy policy has been extended until the end of 2026
Yesterday, Cudi Coffee announced that the current store subsidy policy will be extended to December 31, 2026, covering existing stores and new stores in the future, different stores can receive different amounts of subsidies according to different factors such as rent and competition, and the maximum single cup can be subsidized to 14 yuan. On the same day, Cudi Coffee announced that its global supply chain base in Anhui Province had been officially put into operation. (Southern Metropolis Daily)
China's cumulative industrial output of Red Bull exceeds 60 billion cans
Recently, Red Bull Vitamin Beverage Co., Ltd. (hereinafter referred to as "China Red Bull") has become a large single product with annual sales of more than 20 billion yuan in China, and the cumulative industrial output has exceeded 60 billion cans by the end of April 2024. (Beijing News)
Bubs's total revenue from its China business fell by 30% last quarter
Today, Australian milk powder Bubs released its report for the third fiscal quarter of 2024. According to the report, total revenue from China operations was $2.3 million for the year ended 31 March 2024, down 28.1% year-on-year, compared to $3.2 million for the same period in FY2023. (Company Release)
Beingmate's net profit in the first quarter increased by 80%.
Yesterday, Beingmate released its 2023 financial report, showing that the company's operating income was 2.528 billion yuan, a year-on-year increase of 0.76%, and the net profit attributable to the owners of the parent company was 47.45 million yuan, a year-on-year increase of 126.97%. According to the financial report for the first quarter of 2024 released on the same day, the company achieved an operating income of 720.5 million yuan, a year-on-year increase of 2.28%, and a net profit of 22.075 million yuan, a year-on-year increase of 80.71%. (Company Announcement)
Qianhe Flavor's net profit in the first quarter increased by 6.66%
Yesterday, Qianhe Flavor Industry released its 2023 annual report. In 2023, Qianhe Flavor's revenue will increase by 31.62% year-on-year, and the net profit attributable to the parent company will increase by 54.22% year-on-year. In the first quarter, Qianhe Flavor's revenue increased by 9.28% year-on-year, and the net profit attributable to the parent company increased by 6.66% year-on-year (company announcement)
Haitian Flavor said that online revenue returned to growth in the first quarter
Yesterday, Haitian Flavor executives said in the performance briefing that last year, affected by comprehensive factors, the company's offline and online revenue declined, after last year's changes to products, channels and other aspects, online revenue increased by 20.67% in the first quarter of this year, and the company will continue to do a good job in the construction and development of new channels. In addition, for the revenue of the zero-added series, the management said that "the current development is relatively stable". (Company Announcement)
Carlsberg's CEO is particularly pleased with the growth in Asia
Today, Carlsberg released its interim report. During the period, organic volumes increased by 2 percent, with an increase of 3.1 percent in Asia, and organic revenue increased by 6.4 percent, with an increase of 7.6 percent in Asia. Jacob Aarup-Andersen, CEO of Carlsberg, said the year has started the year well, with volume and revenue growth in all regions, and he is particularly pleased with the growth of the premium product portfolio and the growth of volumes and revenues in Asia, both of which are important strategic growth drivers. (Company Announcement)
McDonald's global first-quarter results fell short of expectations
Today, McDonald's Global reported mixed quarterly results as business restructuring impacted profits and sales in the Middle East were lost due to boycotts. For the period, McDonald's reported net income of $1.93 billion, up from $1.8 billion in the year-ago quarter, the company incurred $35 million in pre-tax charges as a result of the restructuring announced more than a year ago, net sales rose 5% to $6.17 billion, and global same-store sales rose 1.9%, below expectations of 2.1%. （CNBC）
Nestlé Germany lays off more than 100 employees
Recently, Nestlé said it would lay off workers at its German headquarters in Frankfurt in the coming months, planning to cut "slightly more" employees at the plant, which currently employs around 1,500. Nestlé said it is discussing its next steps with employee representatives. （justfood）
Investment and financing
Bajifu Cheese was announced as a strategic investment in China
Today, Taicang Cathay Growth II Investment Fund Partnership (Limited Partnership) announced the acquisition of the equity of Bangshi (Tianjin) Food Co., Ltd., and the former's shareholding ratio in the latter's plan was also disclosed for the first time. According to the public documents, Taicang Kaihui intends to acquire 6.6667% of the equity of Tianjin Bangshi, and will jointly control Tianjin Bangshi with Savencia Group after the transaction. Founded in 2005, Tianjin Bangshi mainly produces and sells dairy products such as Bajifu cheese in China. The filing also shows that the Savecia Group's share of the domestic domestic retail cheese production and supply market was 15%-20% last year. Xiaoshidai once introduced that in January this year, the two sides announced the establishment of a strategic partnership, and Cathay Fund made an exclusive strategic investment in Bajifu. (Snack generation)
Nongfu Spring established a beverage company in Jiande
Recently, industrial and commercial data show that Nongfu Spring (Jiande Genglou) Beverage Co., Ltd. was established, the legal representative is Rao Minghong, with a registered capital of 50 million yuan, and its business scope includes the sales of plastic packaging containers and tools for food, the manufacture of plastic products, the sales of plastic products, and the import and export of goods. Shareholder information shows that the company is wholly owned by Nongfu Spring. (Snack generation)
Breakthroughs have been made in the promotion of a number of beverage projects in Chun'an, Zhejiang
In 2023, the revenue of the water and beverage industry in Chun'an County, Hangzhou City, Zhejiang Province will be close to the 15 billion yuan mark. At present, the construction of about 100,000 square meters of standard factory buildings in Pingshan and Gushan Water and Beverage Industrial Parks in Chun'an Economic Development Zone is being accelerated, projects such as Nongfu Spring Qingxi Factory have been put into operation, and breakthroughs have also been made in the promotion of projects such as Chengde Lulu, Dongfang Honghu, Lechun Yogurt and Xianmu Drink. (Hangzhou Daily)
Danone will increase its investment in Wuxi in the future
Yesterday, Chen Minjun, Vice President of China, North Asia and Oceania Regional Operations of Danone Group, visited Wuxi High-tech Zone. She said that Danone Group is full of confidence in the cooperation with Wuxi High-tech Zone, and will increase investment in the future. In 2023, Nutricia Pharmaceutical (Wuxi) Co., Ltd. ranked among the top 100 taxpayers in Wuxi. (Xinwu District People's Government official website)
The Coca-Cola Company is also preparing for the IPO of the African Bottling Company
Yesterday, Coca-Cola is preparing for an IPO of its African bottling business as early as next year, according to Bloomberg, citing "people familiar with the matter", and the company could seek to value the business at more than $8 billion. (Bloomberg)
Impossible Foods CEO：无论是否IPO都会筹集现金
Yesterday, Peter McGuinness, CEO of Impossible Foods, a "plant-based meat" company in the United States, said that it may consider an IPO in the next two to three years, and it does not rule out selling to another company or raising funds. But in the face of record levels of food inflation in Europe and the United States, consumers have turned to cheaper options such as canned meat. Since going public in 2019, the share price of its peer Beyond Meat has all but evaporated. He declined to disclose Impossible Foods' current valuation. (Reuters)
R&D and innovation
Vita sugar-free tea series new flavors launched
Today, according to Vita's official WeChat, Vita's new sugar-free tea series includes 4 flavors: Da Hong Pao Oolong, Jasmine Tea, Tongtian Xiang Dancong and Alpine Green Tea. (Company Release)
Lipton's co-branded "Hong Kong-style delicious" new milk tea series
Today, according to Lipton's official WeChat, Lipton has joined hands with DA DINO to launch a new milk tea series GELATO, including Hong Kong-style milk tea, Japanese-style matcha milk tea, mandarin duck milk tea and Taiwanese jasmine milk tea 4 flavors. In addition, Lipton has also joined hands with Zhenyi Fang to launch a new co-branded Hong Kong-style milk tea-flavored egg roll. (Company Release)
Nai Xue's tea is online on Tomorrow's Ark co-branded milk tea
Yesterday, Nai Xue's tea joined hands with the domestic strategy mobile game "Ark of Tomorrow" to launch a co-branded tea drink and baking. In this collaboration, Nai Xue selected the classic "Nai Xue Eight Fragrances" series of domineering perfume oranges, domineering perfume cheese strawberries, domineering perfume grapes and star baking products Oreo Bray Xiaobei, and linked up with the popular operators of "Ark of Tomorrow". (Company Release)
Itoen signed a global contract with Shohei Otani
Yesterday, Itoen announced that it had signed a global endorsement contract with Major League Baseball player Shohei Ohtani for its main green tea drink, and published full-page advertisements in international media such as the New York Times. This year, the product is celebrating its 35th anniversary, and it is sold in more than 40 countries and regions. Itoen hopes to use Otani's popularity to increase global sales. (Nihon Keizai Shimbun)
ESG
New Hope saved 1.4 million tonnes of grain last year
Yesterday, New Hope disclosed its Sustainability Report for the first time. According to the report, in 2023, the company will reach cooperation with nearly 4,000 farmers across the country, driving farmers to increase their income and get rich by more than 3.22 billion yuan. (Company Release)
Nestlé India responds to controversy over sugary baby food
Yesterday, Suresh Narayanan, chairman and general manager of Nestlé India, said that the company's infant food formula for children under 18 months of age is done globally and that the allegation that the formula has "racial stereotypes" is unfortunate and untrue. He added that Nestlé does not have any ingredients in its products in India that make it a product with potential risks or any form of harm to children. （hindustantimes）
Industries at a glance
In the first half of the year, the failure rate of 25 categories of food sampling was reduced
Yesterday, the official website of the State Administration for Market Regulation announced the food safety sampling inspection in 2023. During the period, the national market supervision department completed 6997389 batches of food safety supervision and sampling, and the failure rate of supervision and sampling was 2.73%, a decrease of 0.13 percentage points from 2022. From the perspective of sampled food varieties, the failure rates of supervision and sampling were 0.52%, 0.80%, 0.81%, 0.14% and 0.13% respectively, which were lower than the overall sampling failure rate. Compared with the previous year, the failure rate of 25 categories of food such as catering food and biscuits has decreased, but the failure rate of 8 categories of food such as vegetable products and condiments has increased. (Official website of the State Administration for Market Regulation)
Cocoa price volatility has become more extreme
With fewer investors and companies able to maintain trading positions, cocoa price volatility has become more extreme, plunging 27% in just two days. Today, Cocoa New York futures fell 13% before recovering some of their losses, following the previous day's biggest drop since 1960. Despite recently falling to its lowest level in a month, cocoa has roughly doubled since the start of the year. (Bloomberg)
Soaring cocoa prices have put Hershey's and Mondelēz's earnings in the spotlight
The recent spike in cocoa prices due to drought, inconsistent rainfall, and reduced supply due to crop diseases in the world's major cocoa-producing regions could spell more trouble for Hershey's and Mondelēz. According to Jefferies analysts, cocoa prices have nearly tripled this year and now account for about 20 percent and 10 percent of the cost of goods sold at Hershey's and Mondelēz, respectively. Analysts at CFRA Research said that these companies may pass on some of the costs to consumers by raising prices, so the pricing of products is likely to be higher in the second half of the year. (Reuters)
The prices of 417 food items in Japan will rise from May
Today, the Imperial Database shows that the prices of 417 food items on the Japanese market will rise in May. The survey targeted 195 major food manufacturers, with an average price increase of 31%. In terms of categories, alcoholic beverages accounted for the largest proportion, reaching 253 types. In addition, Kirin Drinks and Asahi Soft Drinks will increase the price of 2-liter and 1.5-liter large plastic bottle drinks. (Nihon Keizai Shimbun)