Tiandi No.1 Beverage

Last updated
Tiandi No.1 Beverage
public
Traded as NEEQ:  832898
Industrybeverage
Founded2002 [1]
FounderChen Sheng
Headquarters
China
Area served
mainland China, Hong Kong
Key people
  • Chen Sheng (Chairman & CEO)
  • Zhang Luan (Vice-Chairman)
  • Yan Bin Executive President)
  • Wang Guang (Director)
Productsapple vinegar
BrandsTiandi No.1
RevenueIncrease2.svg CN¥1.574  billion  (2015)
Increase2.svg CN¥514.816 million (2015)
Increase2.svg CN¥441.590 million (2015)
Total assets Increase2.svg CN¥2.538 billion (2015)
Total equity Increase2.svg CN¥1.365 billion (2015)
Owner
  • Chen Sheng (80.18%)
  • Wang Guang (4.99%)
  • Zhang Luan (4.98%)
  • others (9.85%)
Website www.tdyh.com.cn   OOjs UI icon edit-ltr-progressive.svg
Footnotes /references
in a consolidated basis, in Chinese accounting standards [2]
Tiandi No.1 Beverage Inc.
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.

Contents

Corporate history

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]

Notable equity investment

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]

Controversy

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

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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References

  1. 1 2 3 4 发展历程 (in Chinese). Tiandi No.1 Beverage. Retrieved 28 December 2019.
  2. 1 2 2015 Annual Report (PDF) (Report) (in Chinese). Tiandi No.1 Beverage. 21 March 2016. Retrieved 7 January 2016 via National Equities Exchange and Quotations.
  3. 1 2 3 4 王子扬 [Wang Ziyang] (13 March 2019). 天地壹号净利润“突飞猛进”遭质疑. 新京报 [The Beijing News] (in Chinese). Retrieved 28 December 2019.
  4. Wang Ziyang (29 April 2019). 汇源与天地壹号首次携手,拟投60亿建合资公司newspaper=The Beijing News (in Chinese). Retrieved 28 December 2019.
  5. 叶碧华; 陈晓琪 (17 July 2019). “联姻”告吹!汇源果汁与天地壹号终止合作,股票继续停牌. 21世纪经济报道 [21st Century Business Herald] (in Chinese). Retrieved 28 December 2019.
  6. "2015 Annual Report" (PDF). Haisheng Juice. 19 August 2016. Retrieved 7 January 2017 via Hong Kong Exchanges and Clearing Limited website.
  7. 天地壹号"苹果醋饮料"质量真相:违规储藏隔年苹果汁存严重质量隐患 涉嫌"三精一水"勾兑苹果醋. 时代周报 [Time Weekly] (in Chinese). 7 August 2013. Archived from the original on 14 September 2013. Retrieved 7 January 2017.
  8. "History" (in Chinese). Guangdong Tiandi Food Group. Archived from the original on July 23, 2008.CS1 maint: unfit url (link)
  9. "Vinegar maker to raise $98m for M&As". China Daily. 30 October 2015. Retrieved 7 January 2017.
  10. "About us" (in Chinese). Guangdong No.1 Food Co., Ltd. Retrieved 7 January 2017.
  11. "2012 Forbes China Rich List 400 (Full List)". Forbes. 11 October 2012. Retrieved 7 January 2017.