Author: Xiaoshidai Integration
Today's Takeaways
- Tiandi One will turn losses into profits in 2023
- Starbucks appoints senior vice president of corporate finance
- Diageo appoints Coca-Cola Systems executives as CFO
- Yum Brands一季度业绩未达到预期
- Global food prices edged up in April from the previous month
Zhong Sui inspected the tea factory
The latest company news
Zhong led a team to inspect the Japanese tea industry
On May 2, according to Nongfu Spring's official WeChat, from April 29, Zhong set off from Hangzhou, via Shanghai to Fukuoka, and then to Kagoshima, Japan's second largest tea producing area, Japan's first tea producing area with the highest degree of automation, for a three-day industrial inspection. In the international market, the average price of a kilogram of Japanese tea in 2022 is about US$27, while the average price of Chinese tea is about US$5.5, which is only 1/5 of Japanese tea, the company said. "This price gap is unreasonable and needs to be found to be the reason for it. "Nongfu Spring hopes to explore ways to enhance the international competitiveness of China's tea industry through the inspection. (Company Release)
Tiandi One will turn losses into profits in 2023
On April 30, Tiandi No. 1, a cider vinegar manufacturer, released its 2023 financial report, achieving an operating income of 1.205 billion yuan, an increase of 19.00% over the same period of the previous year, and a net profit attributable to shareholders of the company of 31.0808 million yuan, an increase of 119.41% over the same period of the previous year, and a loss of 160 million yuan in the same period of the previous year. (Company Announcement)
Café de Coral recovered significantly in the first quarter
A few days ago, Hong Kong restaurant chain Café de Coral Fa Yingxi is expected to record a profit attributable to shareholders of about HK $330 million for the financial year ended March 31, a year-on-year increase of 1.98 times. Among them, the Hong Kong and Mainland businesses achieved higher profits. The company said that it has recovered significantly in the Mainland with strong same-store sales growth and solid margins, continued efforts to expand its store network and a record number of new stores during the year under review, and has established a solid foundation for sustainable growth across the Greater Bay Area. (Company Release)
Pagoda Group has applied to the Securities and Futures Commission for full circulation of H shares
A few days ago, Baiguoyuan Group announced that on April 30, it submitted an application to the China Securities Regulatory Commission for the proposed implementation of full circulation of H shares, and converted a total of 320,478,841 unlisted shares (about 20.1744% of the company's total issued share capital as of the date of the announcement of full circulation of H shares) into H shares on a one-to-one basis. (Company Release)
Shake Shack saw a decline in sales in its stores in China in the first quarter
A few days ago, Shake Shack released its results for the first quarter ended March 27. During the period, revenue from franchising increased by 10.3% to US$10 million. The increase was primarily due to the net opening of 37 new franchise stores during the past year, which contributed $1.6 million to franchise revenue, partially offset by lower sales at existing franchises, primarily in China and the Middle East. (Company Release)
McDonald's has increased its bet on China
McDonald's plans to nearly double the number of restaurants in China to more than 10,000 by the end of 2028, after spending $1.8 billion to buy back more of McDonald's business in China. McDonald's market share among beef burger fast-food restaurants in China rose to 74.6% last year, up from 71.5% in 2018, according to Euromonitor International. In November, McDonald's said that sales in Chinese mainland and Hong Kong together accounted for nearly 5% of its global sales in 2022. (Wall Street Journal)
The upstream site of the Danone Fuvic plant was set on fire
On May 1, local time, an explosion and fire broke out at the upstream site of the French plant of Danone's drinking water brand Volvic. The damage caused by the arson affected the electrical system of the production line. A sign condemning the large-scale exploitation of natural resources was found at the scene of the accident. The plant said it was a victim of malicious acts, but the water was not affected and plans to resume production from May 2. (BFMTV, AFP)
Diageo appoints Coca-Cola Systems executives as CFO
Amid disappointing results, British spirits company Diageo has announced the hiring of Nik Jhangiani as its new chief financial officer to succeed Lavanya Chandrashekar. Jhangiani, who is currently the Chief Financial Officer of bottler Coca-Cola Euro-Pacific Partners (CCEP), will join Diageo's Board of Directors and Executive Committee in the autumn. Wall Street analysts noted that the company's recent weak results "reflect financial communication problems and some glaring failures by senior management." (Bloomberg)
Starbucks appoints senior vice president of corporate finance
Starbucks announced the appointment of Val Bauduin as senior vice president of finance. Previously, he joined Marriott in 2014 as Chief Financial Officer and Chief Accounting Officer. In his new role, he will lead Starbucks' global corporate finance functions, including accounting, supply chain finance, tax, and treasury and risk management. (Company Release)
Yum Brands一季度业绩未达到预期
A few days ago, Yum Brands released its first-quarter results that fell short of analysts' expectations. During the period, the company's net sales fell 3% to $1.6 billion, and global same-store sales also decreased 3%. Among them, KFC same-store sales fell by 2%, and the decline in the U.S. market was even more significant, at 7%. Pizza Hut's same-store sales were down 7% due to demand in the U.S. domestic and international markets. The company also blamed some of the decline in its international business on its Middle East restaurants. （CNBC）
Hershey's benefited from the sharp increase in cocoa prices
Yesterday, Hershey's first-quarter sales and profit beat analysts' expectations after raising prices due to a cocoa shortage. In the first quarter, North American confectionery sales, the company's largest business, increased by double digits year-over-year, with price increases contributing nearly 6%. Hershey's executives said they had taken steps to secure cocoa supply and did not expect fluctuations to affect their earnings expectations for the year, while reiterating their full-year net sales growth forecast of 2% to 3%. (Bloomberg)
Walmart launches its largest private label food brand in 20 years
On April 30, local time, Walmart announced the launch of its new private label "bettergoods" in the U.S. market, hoping to "let everyone enjoy a higher level of cooking experience". As Walmart's largest private label food product in 20 years, "bettergoods" is said to sell for less than $5 on most items. Currently, Walmart has 300 "bettergoods" items on its shelves, including frozen foods, dairy products, snacks, beverages, pasta, soups, coffee, chocolates, and more. (Company Release)
Industries at a glance
Franchisees are shoddy, and there are emergency declarations such as Tea Baidao, Niu Joborg, Wallace, and Michelle Bingcheng
Recently, a 21-year-old game circle substitute "fat cat" died due to emotional disputes, and many netizens sympathized with his experience and came to the vicinity of the incident late at night to pay respects. Among them, some netizens who could not be present ordered milk tea, hamburgers and other takeaways to express their sorrows. However, in the live broadcast of the riverside display to commemorate the "fat cat" that night, it was found that some of the takeaways delivered were empty and the drinks were shoddy, which attracted condemnation from netizens across the network. On May 3, Chabaidao, Zhu Xiaoxiao Snail Noodles, Niu Joborg, and Mixue Bingcheng issued apologies for this, promising to refund the orders and close the relevant stores. At the end of the statement, Chabaidao said that it would donate an additional 1 million yuan to the Sichuan Youth Development Foundation in the name of "Fat Cat". (Finance Associated Press, Finance and Economics)
For the first time, it was included in the record management, and there were new regulations for health foods using ginseng and other raw materials
On April 30, the State Administration for Market Regulation issued the "Technical Requirements for the Filing of Health Food Raw Materials Ginseng, American Ginseng and Ganoderma lucidum", which pointed out that this is the first time that the health food of traditional Chinese medicine raw materials in the mainland will be included in the record management. The "Requirements" stipulate the technical requirements for the excipients, dosage forms, and processes that can be used in the filing of the three raw materials, and clarify the requirements for product quality and safety indicators, such as iconic ingredients and pollutant indicators, which must meet the relevant national food safety standards in the mainland. The requirements will come into force on May 1, 2024. (People's Daily Health Client)
Global food prices edged up in April from the previous month
On May 3, local time, the Food and Agriculture Organization of the United Nations released data showing that the global food price index in April was 119.1 points, up 0.3% month-on-month and down 9.6% year-on-year, affected by the slight increase in the prices of meat, vegetable oil and grains. (CCTV News)