Company type | public |
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NEEQ: 832898 | |
Industry | beverage |
Founded | 2002 [1] |
Founder | Chen Sheng |
Headquarters | China |
Area served | mainland China, Hong Kong |
Key people |
|
Products | apple vinegar |
Brands | Tiandi No.1 |
Revenue | CN¥1.574 billion (2015) |
CN¥514.816 million (2015) | |
CN¥441.590 million (2015) | |
Total assets | CN¥2.538 billion (2015) |
Total equity | CN¥1.365 billion (2015) |
Owner |
|
Footnotes /references in a consolidated basis, in Chinese accounting standards [2] |
Tiandi No.1 Beverage Inc. | |||
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Simplified Chinese | 天地壹号饮料股份有限公司 | ||
Traditional Chinese | 天地壹號飲料股份有限公司 | ||
|
Tiandi No.1 Beverage Inc. is a Chinese non-alcoholic beverage company. The company produces apple vinegar.
This section needs expansion. You can help by adding to it. (December 2019) |
The founder of the company, Chen Sheng (Chinese :陈生), invented his old vinegar (Chinese :陈醋) recipe in 1997 and starts selling to the customers. [1] [3] In 2002, the company was incorporated. [1] In 2007, the company starts selling Tiandi No.1 apple vinegar (Chinese :天地壹号苹果醋饮料). [1] [3]
The shares of the company is traded in the Chinese over-the-counter National Equities Exchange and Quotations since 2015. Although Chen Sheng and his brother Wang Guang (Chinese :王广), owned a combined 85.17% shares of the company as at 31 December 2015. Moreover, the top 10 shareholders owned a combined 97.08% shares, including directors Zhang Luan (Chinese :张銮, ranked 3rd for 4.98%) and Yan Bin (Chinese :闫斌, ranked 6th for 1.00%). [2]
In April 2019, the company announced to form a joint venture with fellow beverage company Huiyuan Juice. [4] However, in July the deal was terminated. [5]
Tiandi No.1 Beverage owned 18.06% shares of Haisheng Juice (SEHK : 359) as of 2015. [6] Since 2016, Haisheng Juice is a supplier of Tiandi No.1 Beverage. [3]
In 2013, Guangdong "Time Weekly" (Chinese :时代周报) reported that the company stored their ingredients improperly, as well as addictive was added to produce their vinegar, concerning the actual quality of their drinks. [7]
In 2019, The Beijing News criticised the accuracy of the financial reports of the company. [3]
Sister company Guangdong Tiandi Food Group, was the parent company of a football club based in Zhanjiang. The sister company named the club "Zhanjiang Tiandi No.1 F.C.". [8] Chen also owned Guangdong No.1 Food Co., Ltd., [9] which sold "No.1 Native Pig" (Chinese :壹号土猪) and "No.1 Native Chicken" (Chinese :壹号土鸡). [10] Chen was ranked joint-357th in 2012 Forbes China Rich List. [11]
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