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The transaction will create a business with $1bn in revenue, significantly reinforcing Mérieux NutriSciences' position as a global leader in food testing, inspection, and certification (TIC). It expands Mérieux NutriSciences' geographic footprint, doubling its presence in Asia Pacific and Canada, and providing access to new regions with considerable growth potential. CHICAGO, Oct. 7, 2024 /PRNewswire/ -- Mérieux NutriSciences, a world leader in food safety, quality, and sustainability, announced today that it has entered into an agreement to acquire the food testing business of Bureau Veritas for an Enterprise Value of EUR 360 million. This strategic acquisition, supported by its parent company, Institut Mérieux, reinforces Mérieux NutriSciences' commitment to promoting safer, healthier, and more sustainable food systems on a global scale. Mérieux NutriSciences Announces Worldwide Acquisition The scope of this deal covers Bureau Veritas' food laboratory testing activities —microbiological and chemical analysis, and molecular testing. These serve food sector customers through a network of 34 laboratories and 1,900 technical staff across 15 countries in the Americas, Africa, and Asia Pacific. Additionally, Mérieux NutriSciences is in advanced discussions with AsureQuality, the New Zealand-based food assurance provider, to continue the joint ventures which currently exist between Bureau Veritas and AsureQuality in Australia and Southeast Asia. Building on Mérieux NutriSciences' existing worldwide presence and reputation for delivering high-value, science-based solutions to its customers, this acquisition will enhance its global footprint, extending its operations to 32 countries, and doubling its presence in Canada and the Asia Pacific region. Mérieux NutriSciences is a leader in the ~US$15B global food TIC market, which is experiencing steady growth of around 5% annually, largely driven by rising consumer demand for food safety and quality, heightened stringency in regulations, sustainability and traceability of the food supply chain, and innovation in food technology. With a collaborative network of nearly 140 laboratories and over 10,000 employees, the company will be even better positioned to meet the evolving needs of this growing industry through its comprehensive services, including testing, auditing, consultancy, research, environmental footprinting, training, and digital solutions. "The acquisition of Bureau Veritas' food testing business marks a pivotal milestone for Mérieux NutriSciences. It will significantly enhance our ability to serve our customers, and ultimately increase our contribution to the safety, quality, and sustainability of global food systems. After closing of the transaction, together with the 1,900 future colleagues joining us from Bureau Veritas, we will be even stronger in fulfilling our purpose: 'Better Food. Better Health. Better World.'" said Nicolas Cartier, CEO of Mérieux NutriSciences. "We are pleased to partner with Mérieux NutriSciences, a leader in Food testing, whose global footprint and proven expertise is the perfect fit for our food business and would allow it to thrive and to contribute to make food systems safer, healthier and more sustainable." added Hinda Gharbi, CEO of Bureau Veritas. The transaction is expected to close by the end of the fourth quarter of 2024, once customary closing conditions have been met, including regulatory clearance in certain geographies. About Mérieux NutriSciences: At Mérieux NutriSciences, we leverage over 50 years of scientific and entrepreneurial expertise to answer food industry needs. Today's global challenges transform the way food is produced, marketed and consumed, which is why we know our clients need more than reliable analytical results; they need practical and innovative solutions that will contribute to make food systems safer, healthier and more sustainable. Present worldwide, we are more than 100 accredited laboratories and a team of over 8,000 committed employees. We strongly believe that together, we can create solutions to offer our planet: BETTER FOOD. BETTER HEALTH. BETTER WORLD. www.merieuxnutrisciences.com
DKSH Malaysia Business Unit Consumer Goods has launched its new Food Services Test Kitchen in Petaling Jaya, strengthening its commitment to culinary innovation and supporting the growth of the local food and beverage industry. PETALING JAYA, Malaysia, Oct. 3, 2024 /PRNewswire/ -- DKSH Business Unit Consumer Goods, a leading partner for companies seeking to grow their consumer goods business in Asia and beyond, proudly announces the launch of its new Food Services Test Kitchen, a facility designed to foster innovation, collaboration, and culinary excellence within the hotel, cafe, restaurant (HORECA), and bakery industries, in Petaling Jaya. DKSH Malaysia Consumer Goods kicks off its Food Services Test Kitchen with a popping burst of energy! From left to right: Serene Lee, Director of Legal (Malaysia, Singapore & Brunei), Sandeep Tewari, Head of Country Management and Vice President of Healthcare, and Daniel Schwalb, Vice President of FMCG. The newly established Food Services Test Kitchen features advanced culinary equipment and catering support for pastry, hot kitchen, and beverage innovations. This facility is designed to foster creativity and experimentation, offering dedicated spaces for recipe testing, product showcases, and chef collaborations. Located at the heart of Petaling Jaya, the Food Services Test Kitchen is easily accessible, offering industry professionals the perfect space to experiment, innovate, and collaborate with DKSH's professionally trained specialists. Our team brings in-depth expertise and industry-specific know-how, helping clients navigate the complexities of the food services industry, particularly within the hotel, bakery, and restaurant segments. During the launch event, Daniel Schwalb, Vice President, Fast Moving Consumer Goods (FMCG) at DKSH Malaysia stated: "The launch of our new Food Services Test Kitchen marks a significant milestone for DKSH Malaysia Consumer Goods. This facility is designed to empower our partners and customers to elevate their culinary creativity, keeping them ahead in a competitive market and supporting the growth of their businesses." Gilbert Chong, General Manager, Food Services at DKSH Malaysia also commented: "Our Food Services Test Kitchen reflects our strong commitment to being the omni-channel provider for brands in Malaysia. This innovative space will not only enhance our services to customers but also serve as a collaborative platform for industry professionals to explore new flavors and techniques, ultimately driving the growth of the food services sector across the region." DKSH Malaysia acquired Auric Pacific (M) Sdn Bhd in 2019, further expanding its capabilities to enhance offerings within the HORECA channels. DKSH's team of professionally trained sales specialists provides comprehensive coverage across the industry, ensuring tailored solutions for business growth. About DKSH DKSH's purpose is to enrich people's lives. For almost 160 years, DKSH has been delivering growth for companies in Asia and beyond across its Business Units Healthcare, Consumer Goods, Performance Materials, and Technology. As a leading Market Expansion Services provider, DKSH offers sourcing, market insights, marketing and sales, eCommerce, distribution and logistics as well as after-sales services. DKSH is a participant of the United Nations Global Compact and adheres to its principles-based approach to responsible business. Listed on the SIX Swiss Exchange, DKSH operates in 36 markets with 29,040 specialists, generating net sales of CHF 11.1 billion in 2023. DKSH Business Unit Consumer Goods focuses on fast moving consumer goods, food services, luxury and lifestyle products as well as hair and skin cosmetics. With around 14,580 specialists, the Business Unit generated net sales of CHF 3.5 billion in 2023. www.dksh.com/cg
SINGAPORE, Oct. 3, 2024 /PRNewswire/ -- The Singapore International Agri-Food Week (SIAW) returns for its fourth edition from 18 to 22 November at Sands Expo & Convention Centre, Marina Bay Sands. Asia's leading platform for knowledge exchange, networking, and collaboration, SIAW gathers global industry leaders, policymakers, decision-makers, and innovators to explore groundbreaking solutions, forge new partnerships, and advance agri-food technology development and adoption across the region. Themed 'Scaling Innovation in Asia's Agri-Food Systems', SIAW 2024 comprises four constituent events: the Roundtable on Novel Food Regulations, the Asia-Pacific Agri-Food Innovation Summit, the Agri-Food Tech Expo Asia, and the Global Agri-Food Scientific Symposium. These events showcase the latest innovations in sustainable food production, while providing attendees with multiple opportunities to create and share solutions amongst a like-minded community committed to driving impactful change in the region's agri-food industry. The week will begin with the SIAW Welcome Reception, an exclusive, by-invitation event held on the evening of 18 November 2024. It will be officiated by Singapore's Deputy Prime Minister and Minister for Trade and Industry Mr Gan Kim Yong. The reception provides a unique opportunity to engage and network with a distinguished group of agri-food corporates, start-ups, entrepreneurs, business executives, investors, policymakers, research scientists, and trade partners. The SIAW is jointly organised by the Singapore Food Agency (SFA) and Temasek; supported by Agency for Science, Technology and Research (A*STAR), Enterprise Singapore (EnterpriseSG), Singapore Economic Development Board (EDB), and Singapore Tourism Board (STB); and with organising partners Constellar and Rethink Events. The largest edition to date, SIAW 2024 expects to welcome 12,000 attendees from 82 countries and regions, 300 exhibitors and 400 speakers. Nurasa, a wholly-owned Temasek company that focuses on accelerating the adoption of affordable and appealing sustainable nutrition solutions, is a Gold Partner for SIAW 2024. Scaling Innovation in Asia's Agri-Food Systems Asia will contribute significantly to the projected 9.7 billion global population by 2050. By that time, Asia and the Pacific would have also more than doubled the number of persons aged 60 and above, from 630 million in 2020 to 1.3 billion in 2050 - representing a quarter of its population. To cater to a growing ageing population, the demand for access to greater quality food and better nutrition will continue to rise rapidly. The ability for food systems to meet this demand will in turn be susceptible to climate change, environmental degradation and supply chain disruptions. Asia plays an indispensable role in the global agri-food landscape. As the largest producer of rice, it feeds over half of the world's population and accounts for 90 percent of global production. The greater Asia-Pacific region is also the largest and most diverse agricultural market globally. Scaling innovation, and enabling coordinated effort for collective impact, remain critical enablers in transforming food systems in Asia to be more resilient, sustainable, and accessible. Strengthening food resilience in Asia will also have a positive impact on the global value chain. To achieve this collective vision, Singapore, as a stable and connected global-Asia node, serves as a vital food technology hub, a key supply chain player, and a trusted food and nutrition centre, convening and connecting a global ecosystem of food producers, suppliers, technology providers, policymakers, regulators, and other industry players. Against this backdrop, SIAW 2024 has curated content spanning across regenerative agriculture and aquaculture systems, to protein diversification and accessible nutrition, providing an invaluable platform for catalysing the transition to a sustainable and nutritious agri-food system in Asia. Regulation for Tomorrow's Food: Roundtable on Novel Food Regulations Organised by SFA since 2019, the by-invitation Roundtable on Novel Food Regulations is a platform for regulators, local and international industry players, researchers, and members of international organisations to discuss latest technologies for novel food production, challenges in safety assessment, and explore opportunities to advance the regulatory approach while encouraging food innovations. This includes key topics such as the development of a safety-assessed ingredient list for cell culture media components, production of fermentation-derived novel food products, and global regulatory best practices. Accelerating Climate Resilience and Nutrition in Asia: Asia-Pacific Agri-Food Innovation Summit Organised by Rethink Events in partnership with Temasek, the Asia-Pacific Agri-Food Innovation Summit is the anchor event of SIAW, bringing together 1,000 global agri-food stakeholders over three days to address the key pillars of climate adaptation, decarbonisation and nourishment. From regenerative agriculture, biological inputs and AI-driven solutions to climate-smart aquaculture, novel proteins and precision fermentation, the Summit will explore the innovative solutions and financing strategies that are meeting demand for nutritious and affordable foods. Guest-of-Honour Dr Koh Poh Koon, Singapore's Senior Minister of State for the Ministry of Sustainability and the Environment, will deliver the opening keynote, setting the scene for three days of C-level thought leadership, networking and technology discovery. The illustrious 100+ speaking faculty features an A-list of agri-food pioneers and investors, including Olam Agri, Mondelez, Shell Energy, Google, World Bank, CP Foods, BASF, FrieslandCampina, Unilever and Thai Union. Dozens of regional and international start-ups and scale-ups will feature at the summit, with cohorts presented by Enterprise Singapore, Innovate UK, MARS, Hatch and The Yield Lab Asia Pacific. Into the Future of Food Sustainability and Security: Agri-Food Tech Expo Asia Organised by Constellar, Agri-Food Tech Expo Asia (AFTEA) is a focused exhibition platform with a living lab environment, thematic experiential zones, sandbox and community-based learning for the agri-food industry to launch, showcase and testbed their solutions. This year it will provide direct access to 300 exhibitors, including 100 start-ups and 20 international groups, showcasing the latest innovations, practices, and strategies. An expected 10,000 attendees will engage with global leaders, industry experts, suppliers, corporates, start-ups, institutes, and pioneering innovators in Novel Food Technology, Urban Farming, Alternative Proteins, Aquaculture, Safety & Sustainability, Technological Solutions, and more. New this year is the Precision Fermentation Pavilion, a dedicated space showcasing the latest advancements in precision fermentation technology; as well as the Climate-Smart Practice Forum, featuring senior executives of World Bank, Mars, RIZE, Mae Fah Luang Foundation and the University of Illinois Urbana-Champaign. Cementing its position as Southeast Asia's biggest platform convening the agri-food tech start-up ecosystem, AFTEA is also introducing the Agri-Food Innovation World Championship. Organised by Constellar and Innovate 360, the Championship aims to identify, support and celebrate innovative early-stage start-ups with high growth potential in the areas of agri-tech, food sustainability, health & wellness, and deep-tech. Global Agri-Food Scientific Symposium – Innovation and Sustainability: Transforming the Food Landscape Organised by SFA and the Singapore Institute of Technology, the Symposium aims to bring together researchers, scientists, and technology solution providers to encourage knowledge exchange and catalyse scientific discussions amongst those with an interest in the food ecosystem. It also serves to advance cutting-edge science, technology and innovation, and foster collaboration to build agri-food capabilities for climate-resilient and sustainable food ecosystems. This year's theme is "Innovation and Sustainability: Transforming the Food Landscape" and will feature academic and research experts presenting across four tracks: Aquaculture, Agriculture, Future Foods, and Nutrition & Food Safety. With the urgent challenges facing global food systems, SIAW continues to be the nexus for the region's agri-food ecosystem, bringing together research and development, policy discussions and business innovations to enable collaboration and action unlocking collective impact in the agri-food sector. Please refer to Annex A: SIAW 2024 Constituent Event Highlights; Annex B: Quotes by Organisers and Partners; and Annex C: Corporate Profiles. Access the full media release and Annexes here.
SINGAPORE, Oct. 3, 2024 /PRNewswire/ -- Food isn't just about eating, it's about exploring, experiencing, and enjoying every bite. And the best place to do that is where a favorite dish originates from. Digital travel platform Agoda has unveiled the top destinations in Asia that travelers visit specifically for a culinary trip, and it's South Korea that takes the crown for foodies on the move. No less than 64% of travelers to South Korea shared with Agoda that South Korea's culinary delights are their main reason for traveling. The land of kimchi, Korean barbecue and fried chicken is followed closely by Taiwan (62%), with Thailand (55%), Japan (52%, and Malaysia (49%) completing the top five. The study surveyed over 4,000 Agoda users after they completed bookings to destinations in various markets. Top Five Foodie Destinations (Based on Agoda's survey data) 1. South Korea 2. Taiwan 3. Thailand 4. Japan 5. Malaysia Andrew Smith, Senior Vice President, Supply at Agoda said, "Food is a cultural experience. Some travelers are so passionate about food that they book a restaurant abroad even before securing their flights. Our survey data clearly shows that travelers are seeking out destinations where they can immerse themselves in local cuisines and traditions rather than just sightseeing. Agoda is proud to offer great value deals to visit these foodie heavens, so that there's more left to spend on the tastiest local dishes." Here's a whirlwind Culinary Tour Through Asia's Top Five food destinations: 1. South Korea South Korea's culinary scene attracts foodies from all over the globe, undoubtedly helped by the popularity of K-dramas and movies which frequently showcase unique gourmet experiences. On Jeju Island, savor fresh seafood and melt-in-your-mouth heukdwaeji (black pork) sizzling on a traditional Korean BBQ grill. Adventurous eaters will enjoy ganjang gejang (raw crab marinated in soy sauce) - a dish guaranteed to spark conversation (and maybe a little sweat!) in coastal cities like Incheon. For comforting soul food, visit Gangneung for some chodang sundubu (hot soup with soft tofu). Traditional markets, such as Gwangjang Market in Seoul, are a great place for street food like tteokbokki (spicy ricecakes) and bindaetteok (savory pancakes). 2. Taiwan Taiwan is a culinary wonderland where ancient traditions and modern influences collide. Taipei's legendary night markets, like Shilin and Raohe, are a must-visit experience for any foodie. From the infamous stinky tofu to the global sensation of bubble tea. In Tainan, traditional dishes like danzai noodles and milkfish soup highlight the island's deep food heritage. Taiwan also offers a unique tea culture, with Alishan's oolong tea holding a place in every tea lover's heart. 3. Thailand Thailand is a food lover's paradise, offering a street food culture that is hard to match. The traditional food stalls of Yaowarat, known as Chinatown in Bangkok, are where dishes like crispy pork belly, pad thai, crispy oyster omelets, and mango sticky rice aren't just among the most delicious meals but also the most affordable. In the north of Thailand, the rich and creamy Khao Soy in Chiang Mai is a must-try, while in the south it's the lesser-known Khanom Jeen, a fermented rice noodle dish served with a variety of spicy curries, that's becoming a favorite among foodies. 4. Japan Japan is a dream destination for food enthusiasts, offering everything from izakaya bar bites to kaiseki full course experiences. In Tokyo, head to Tsukiji Outer Market for fresh sushi and sashimi or explore local delights like takoyaki (octopus balls) and yakitori (grilled chicken skewers) in popular areas like Shinjuku and Ginza. Seafood lovers should visit Otaru in Hokkaido to enjoy famous crabs, uni (sea urchin), and fresh seafood donburi. For ramen aficionados, Tenjin in Fukuoka is the place to try tonkotsu ramen, the area's famous bowl featuring rich pork broth. 5. Malaysia A melting pot of flavors, Malaysia's cuisine is a reflection of its multicultural heritage. In Kuala Lumpur, Nasi Lemak comes in various forms, from Nasi Lemak Bungkus (wrapped rice with coconut milk, sambal, and various toppings) to Nasi Lemak Ayam Goreng Berempah (spicy chicken). The Penang region delights visitors with street food classics like Char Kway Teow (a stir-fried rice noodle), Hokkien Mee (a savory noodle soup), and Cendol (shaved ice dessert). In East Malaysia, Kota Kinabalu features fresh local dishes like Hinava (raw fish salad) and Tuaran Mee. Kuching is known for Manok Pansoh, a traditional Iban dish of chicken cooked in bamboo with herbs. Agoda makes it easy to turn your food dreams into reality with access to over 4.5 million holiday properties, 130,000 flight routes, and 300,000 activities. From street food tours in Bangkok to sushi-making classes in Tokyo, Agoda helps travelers explore global flavors. For more information, visit agoda.com or download the Agoda app. --- ENDS --- NOTES TO EDITORS About the Data The Agoda's survey was conducted via the Agoda platform between August 1 and 19, 2024, with over 4,000 participants from 10 markets. These included Indonesia, India, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand, and Vietnam. About Agoda Agoda, a digital travel platform, helps anyone see the world for less with its great value deals on a global network of 4.5M hotels and holiday properties worldwide, plus flights, activities, and more. Agoda.com and the Agoda mobile app are available in 39 languages and supported by 24/7 customer support. Headquartered in Singapore, Agoda is part of Booking Holdings (Nasdaq: BKNG) and employs more than 6,900 staff in 25 markets, dedicated to leveraging best-in-class technology to make travel even easier.
MELBOURNE, Australia, Oct. 2, 2024 /PRNewswire/ -- Two iconic Australian businesses with household brands that have been in the pantries of Australian families for decades are merging, together with the powdered milk business of a third Australian founded business Nature One Dairy to create a market leading Australian food and beverage company with significant scale. Former Asahi Beverages Group CEO and current SPC Director Robert Iervasi has been appointed the Managing Director of the merged business, which will own and operate three business divisions, namely SPC, The Original Juice Co. and Nature One Dairy. SPC is an iconic Australian brand and is the largest producer of fruit, tomato, baked beans and spaghetti processing, packaging, and canning in Australia. It holds some of Australia's most recognisable household food brands such as SPC, Ardmona, Goulburn Valley, ProVital, Pomlife, the Good Meal Co, and Street Eats – feeding Australian families for more than 100 years. The Original Juice Company is a well-known Australian food processing company specialising in chilled fruit and vegetable juices. Founded in 1988, it has maintained a commitment to sourcing local fruit and producing fresh juice daily for over 30 years. Using a mix of conventional and custom-developed equipment, OJC manufactures high-quality juices, fibres, infused fruits, and fruit waters for both domestic and international markets. Nature One Dairy is a Singapore registered, Australian-founded dairy company that manufactures and sells premium infant formula, nutritional formula and milk powder products. With an established sales and marketing footprint in Australia, China and other Asia Pacific markets, products are sold under the Nature One Dairy brand. The Nature One Dairy international market presence provides a platform for further inorganic growth for the combined business through product diversification and access to the Asian distribution market. Together the three businesses create a substantial Australian based and owned global food and beverage companies that will continue to support Australian producers and execute on a global growth strategy. Mr Iervasi said: "SPC Global is excited to be joining with OJC and Nature One Dairy and come to market with a leading food and beverage platform. With our market leading packaged fruit, canned tomatoes, and baked bean products, we are excited to expand with OJC both domestically and globally and see significant synergy potential in bringing the two producers together. Proud of our 100-plus year history and our Shepparton roots, SPC looks forward to working with the OJC team to accelerate growth and leveraging the combined platform to enhance distribution of our products. The addition of Nature One Dairy also allows us to diversify and reach more consumers every day through our international channels." The Original Juice Company CEO, Steven Cail, added: "This is a transformational moment for OJC, bringing our premium portfolio of juice products and processing technology together with SPC's iconic brands and the powdered milk business of Nature One Dairy, creating significant production capability to create a food and beverage producing market-leader. The strategy has always focused on setting up the business for future growth and synergies, and I am extremely excited about what the future holds for OJC. The OJC team is excited to join the 100-year legacy of SPC and contribute to taking the Combined Business forward in its next phase of success." About the merger The Original Juice Company will acquire SPC Global, and the powdered milk business owned by Nature One Dairy via a binding Merger Implementation Deed and Share Sale Agreements subject to several conditions including approval by the Original Juice Co. shareholders in November 2024. The Original Juice Company intends to issue 133 million shares to the shareholders of SPC as consideration for the Transaction. Concurrently with the acquisition of SPC, OJC intends to issue up to 29 million shares and pay cash of up to $6 million to the shareholders of Nature One Dairy. On completion of the Transaction, OJC, SPC and NOD shareholders are expected to hold 15.5%, 69.2% and 15.3% of the Combined Business respectively. The Combined Business is expected to deliver more than $400 million of revenues and more than $29 million of EBITDA in FY25. The combined business will be listed on the Australian Stock Exchange, with The Original Juice Companies ASX code changing to SPG. The transaction is expected to complete in November 2024. LeadershipIn addition to Mr Iervasi, Mr David Mallison will serve as Interim CFO, and OJC and NOD's CEOs, Steven Cail and Nick Dimopoulos will continue with the Combined Business post completion of the Transaction to ensure a successful transition. Hussein Rifai will be chairman of the combined group. Hon Jeff Kennett AC, Chairman of OJC, is retiring from his position upon completion of the Transaction and said: "I have been honoured to serve as Chairman of OJC since December 2022. The agriculture industry is a core pillar of our national identity in Australia and the backbone of many regional towns across the country. We should be supporting businesses like OJC, SPC and NOD to continue to thrive in their mission to support local growers, employ Australians in our processing plants and produce iconic healthy products for consumers, both in Australia and abroad. I am excited about the prospects of the Combined Business." In responding, Mr Hussein said that the transaction is a critical step in advancing the global strategy that has guided SPC since its divestment from Coca-Cola Amatil (CCA). It aligns with SPC's long-term vision of transforming SPC into a global leader in the food and beverage sector. "Our goal is to create 'better, healthier food for the future.' Since acquiring SPC from CCA, our strategy has been to firmly establish ourselves as a leader in both the Australian and global markets. Building a strong foundation in our home market is vital for sustainable growth and success." "Our immediate focus is on solidifying SPC's position as a domestic market leader. This is the essential first step before executing our broader global strategy, which targets key international markets, particularly in Asia, where we see significant growth opportunities."
HONG KONG SAR - Media OutReach Newswire - 30 September 2024 - On September 27, 2024, China Wantian Holdings Limited (1854.HK) ("Wantian") announced that it has signed a strategic cooperation agreement with Hin Sang Group (6893.HK) ("Hin Sang"). The partnership aims to jointly venture into the rapidly growing functional food and health market, leveraging resource integration and technological innovation to provide high-quality health products and services to consumers worldwide, while jointly exploring new market opportunities. Signing ceremony between listed companies for a collaborative entry into the Functional Food and Health Industry Strong Alliance to Create a New Landscape in Health With the rising global awareness of health, the health industry is experiencing unprecedented development opportunities. According to market forecasts from the China Consumers Association's "Health Industry Consumption Trend Development Report", by 2025, the market size of China's health industry is expected to reach 17.4 trillion RMB, and it is projected to climb to 29.1 trillion RMB by 2030. The functional food industry, as a vital component of the health market, is attracting increasing capital and policy support. As a listed company on the main board of the Hong Kong Stock Exchange, Wantian's collaboration with Hin Sang will further strengthen its presence in the health sector, paving the way for its vision to become a global leader in the full industry chain of green food services. Focusing on Three Strategic Cooperation Areas The cooperation will focus on three major strategic areas to expand and innovate within the functional food market: Jointly Establishing Health Soup Chain Stores: Both parties plan to open 100 "Wantian Pengzu Hin Sang Centers" within three years, focusing on premium health soups to provide consumers with a natural and healthy wellness experience, meeting the market demand for high-quality health products. Co-developing Premium Health Gift Series: Both parties will launch the "Wantian Gift x Hin Sang" premium health gift series, combining Hin Sang's herbal health products with Wantian's green ingredient resources to create high-end health gifts that cater to modern consumers’ pursuit of quality living and health products. Establishing the Functional Food and Herbal Life Science Research Institute: Both parties will jointly establish the "Wantian x Hin Sang Functional Food and Herbal Life Science Research Institute," focusing on the cultivation, research, and application of functional food and herbal medicine. The institute aims to transform scientific research achievements into commercial products, driving the innovative development of the functional food and herbal medicine industry. Synergies to Create Long-Term Value This strategic partnership represents more than just a merging of resources and technology; it brings forth substantial synergies. Wantian's extensive experience in the green food supply chain will open up broader sales channels for Hin Sang's products, while Hin Sang's strong brand influence in the health sector will support Wantian's swift entry into the functional food market. Together, their collaboration is poised to drive product innovation, optimize operational efficiency, and accelerate market expansion, leading to strong long-term returns. As China's "Healthy China 2030" blueprint, the health industry holds tremendous growth potential. This partnership between Wantian and Hin Sang is perfectly aligned with market trends and leverages policy incentives, setting the stage for a prosperous future in the health sector. Both companies foresee significant business outcomes from this collaboration, positioning it as a model for industry partnerships. Wantian's foray into the health industry underscores its keen market insights and strategic foresight. This initiative not only supports its efforts to diversify its business but also establishes a robust foundation for sustained growth. As Wantian continues to expand and innovate, it is well-positioned to become a leading player in the health market, generating lasting value and returns.Hashtag: #ChinaWantianThe issuer is solely responsible for the content of this announcement.About China Wantian Holdings LimitedChina Wantian Holdings Limited (1854.HK) is a listed company on the main board of the Hong Kong Stock Exchange. The company focuses on the supply of green ingredients, eco-friendly dining, and environmental technologies, striving to enhance the entire food industry's value chain. Committed to becoming a global leader in the full industry chain of green food services, Wantian upholds a strong dedication to quality and innovation, delivering healthier and more enriching dining experiences from farm to table for households around the world. About Hin Sang GroupHin Sang Group (6893.HK) operates under the philosophy of "selecting the natural, nourishing with herbs," focusing on the development of herbal health products. The company provides innovative and high-quality health solutions for families worldwide. Its products have received numerous industry accolades, and signature offerings like " Hin Sang Exquisite Packing Milk Supplement" and " Hin Sang Health Star" have achieved great market success, positioning the group as a leader in the health product industry.
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