Dairy dynamics in February: yogurt on the new to seize the spring market Zhongdi Dairy and other personnel adjustments

Food Partner Network News In February, the dairy industry has the following dynamics: Strawberry FlowIng Cheese Yogurt in Beihai Ranch, Tianrun Dairy Cherry Free Flavor Fermented Milk, Adopted Head of French Flavor Ambient Yogurt and other new yogurt products listed, seizing the spring market; Zhongdi Dairy, Sanyuan Shares, Beiyinmei, Friesland and other companies made personnel adjustments; Yili and Western Animal Husbandry released relevant acquisition news.

　　Yogurt on the new grab the spring market

　　In February, a number of new yogurt products were launched to seize the spring market. On February 1, Beihai Ranch, a yogurt brand owned by Yuanqi Forest, launched a new product of strawberry flow cheese yogurt. On February 4, Tianrun Dairy's official WeChat account launched a cherry free flavor fermented milk. On February 19, Lechun launched the first new oat coffee Greek yogurt of the New Year. On February 20, Adopt a Cow launched a new French-style ambient yogurt. On February 25, Huishan Premium WeChat launched a new flavor of small 10-day probiotic flavored fermented milk.

　　In addition, Mengniu has a new series of 8 new products. On February 25, Mengniu released 8 series of new products on the official WeChat, including Zhenyang protein drink "Qi" Xiang Ruyi, Mengniu sugar-reducing high-calcium flavored fermented milk, Mengniu Amule yogurt, Mengniu Zero Sucrose flavored kefir, zhenguo milk drink red grapefruit four seasons spring, green mood plant light series ice cream, optional ice cream and Ai's Morning Dawn additive-free cheese stick.

　　In addition, on February 26, Yili Grain launched the first milk "Bao Warm Milk" that can be directly microwave heated in China, and the new products added red dates, goji berries and oats. In the packaging, a new material is used to replace the original metal aluminum foil layer.

　　Zhongdi Dairy, Sanyuan Shares, etc. made personnel adjustments

　　Zhongdi Dairy, Sanyuan Shares, Beingmate, Friesland, A2 Milk and other companies have made personnel adjustments.

　　Among them, Zhongdi Dairy issued an announcement that since 4:30 p.m. on Monday, February 8, 2021, Zhang Jian has resigned as an executive director; Liu Dai has resigned as a non-executive director; Du Yuchen has resigned as a non-executive director and a member of the company's remuneration committee; Li Jian has resigned as a non-executive director; and Yu Tianhua has resigned as a non-executive director and a member of the company's audit committee. The announcement also announced that Pang Xin has been appointed as an executive Director, Gao Zhanfeng has been appointed as a non-executive Director and a member of the Audit Committee, Liu Yanbin has been appointed as a non-executive Director, Fu Zhenwen has been appointed as a non-executive Director, and Zhang Jianhua has been appointed as a non-executive Director and a member of the Remuneration Committee.

　　On February 4, Sanyuan Co., Ltd. issued an announcement that the company's board of directors deliberated and passed the "Proposal on the Change of the Company's Financial Director", agreeing that Liu Xu would no longer concurrently serve as the company's financial director due to work needs, and continue to serve as the company's deputy general manager. After study, the board of directors agreed to hire An Changlin as the company's financial controller.

　　On February 10, Beingmate issued an announcement that the Board of Directors received a written resignation from Wang Yunfang, deputy general manager of the Company, on February 9, 2021. After her resignation, Wang Yunfang will no longer hold any position in the company and its holding subsidiaries.

　　Separately, the Board of Directors of friesland Dairy Cooperative has appointed Erwin Wunnekink as new chairman, replacing the departing Frans Keurentjes with effect from 16 June 2021. a2 Milk has appointed Bessie Lee as the new Independent Non-Executive Director.

　　Yili and Western Animal Husbandry released relevant acquisition news

　　In February, Yili and Western Animal Husbandry released relevant acquisition news. Among them, Yili will forcibly complete the acquisition of all the remaining shares of Zhongdi Dairy and plans to privatize and delist it after the acquisition is completed; Western Animal Husbandry intends to purchase 100% of the equity of Tianshan Guanghe by issuing shares.

　　Yili issued an announcement disclosing the progress of its overseas subsidiary's acquisition of shares in China Zhongdi Dairy Holdings Limited by way of a tender offer. According to the announcement, as of 4:00 p.m. on February 8, 2021, the cumulative number of shares of Zhongdi Dairy that accepted the offer has reached 1,443,788,000 shares, accounting for 98.47% of the shares held by all offerees in Zhongdi Dairy. In view of the fact that the Acquisition has met the mandatory takeover conditions under Section 88 of the Cayman Islands Companies Act (Cap. 22) and the Mergers and Acquisitions Code, the Company will complete the acquisition of all remaining shares of Zhongdi Dairy through a compulsory acquisition and intends to privatize and delist Zhongdi Dairy from the Stock Exchange of Hong Kong Limited upon completion of the acquisition.

　　Western Animal Husbandry Company announced that the listed company intends to purchase 100% of the equity of Tianshan Guanghe jointly held by Tianshan Junken and Shihezi State-owned Assets Company by issuing shares, with a transaction price of 870 million yuan. After the completion of this transaction, the company will hold 100% of the equity of Tianshan Guanghe.

This article is edited by the Food Information Center of Food Partner Network, if you have any questions, please contact [email protected].

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