China Wantian Holdings Completes the Acquisition of Domestic Fresh Food Supply Chain Service Provider ACN Newswire

China Wantian Holdings Completes the Acquisition of Domestic Fresh Food Supply Chain Service Provider

November 25, 2022
HONG KONG, Nov 25, 2022 - (ACN Newswire via SEAPRWire.com) - China Wantian Holdings Limited ("China Wantian Holdings"; together with its subsidiaries, the "Group"; stock code: 01854.HK) is pleased to announce that Great Point Limited ("Great Point"), the Group's direct wholly-owned subsidiary, has completed acquisition of Champion Point Limited ("Champion Point")'s subsidiary Shenzhen Wealth Source Trading Development Company Limited* ("Shenzhen Wealth Source", together with Champion Point, the "Target Group"), which is a domestic fresh food supply chain service provider in the PRC. It marks the Group's expansion of its fresh food ingredient business into the Guangdong-Hong Kong-Macao Greater Bay Area (the "Greater Bay Area") market. Upon the acquisition completion, the Target Group has become wholly-owned subsidiaries of the Group.The Target Group which the Group has acquired is principally engaged in the trading of live cattle, fruits, vegetables, seafoods and food ingredients in the PRC. Shenzhen Wealth Source is the operating subsidiary of the Target Group. It sources live cattle from Inner Mongolia and distributes them to slaughterhouses in the Greater Bay Area. It also supplies and offers fruits, vegetables and seafood to restaurants in the Greater Bay Area. Acquiring Champion Point with well-established business network and customer base in the PRC will allow the Group to offer comprehensive service packages to the customers and broaden customer base. Taking into account the adverse impact brought about by the outbreak of COVID-19 on the catering and corresponding food processing industries in Hong Kong, the Group's management believes that the Group can remain competitive by venturing into new markets and diversifying its business development strategies, thus generating higher revenues for investors and shareholders.Apart from acquiring the Target Group, the Group also strategically added two restaurants in Zhongshan's busy city centre, in China's Guangdong Province. The two restaurants are SteamGood, a steamed seafood eatery that specialises in the freshest ingredients, and Kong Xiang Coffee*, a coffee shop that combines nature with space, further expanding its restaurant network in the Greater Bay Area and enhancing the food supply and catering chain businesses. SteamGood and Kong Xiang Coffee cater mainly to young consumers, incorporating trendy concepts such as personalisation, an immersive experience and a check-in for younger-generation diners seeking a high quality of life and healthy food. SteamGood boasts a wide range of top-quality seafood and tempts diners with the freshest dishes. Kong Xiang Coffee is a brisk, fresh blend of space and art that hosts occasional live performances, offering customers delicious fare in an appealing environment, and bringing people together in a highly sociable setting.Benefiting from a package of government policies named "Measures to Promote the Steady Growth of the Wholesale, Retail, Accommodation and Catering Industries in Zhongshan City in 2022, which aims to boost the regional economy and livelihoods, the gross domestic product of Zhongshan City in the first three quarters of 2022 was RMB259.48 billion, 1.2% higher than in the same period of the previous year. Zhongshan City's consumer market has recovered well, and total retail sales of social consumer goods in the first three quarters were worth RMB120.89 billion, up 5.1% year on year. Expressing its confidence in Zhongshan City's huge potential of future development, the Group strategically added the two restaurants in Zhongshan's busy city centre following the earlier opening of restaurants The Hong Kong Wharf and Zhi.HUTAU* there in June, marking a further rapid expansion of Wantian Catering's business map in the area within a short period of time.According to the Group's management, the Group successfully acquired Shenzhen Wealth Source and strategically added two restaurants in Zhongshan city, demonstrating its determination and active deployment to strengthen the development of the food supply and catering chain businesses. To embrace challenges and lay solid foundations for growth in the post-pandemic era, the Group will extend its existing business into the Greater Bay Area market, which is home to a very large customer population, while leveraging the strong synergies between its three main businesses - food supply, catering chain, and environmental protection and technology. Looking ahead, China Wantian Holdings aims to enhance the diversity of its development strategies by expanding its businesses. Its Greater Bay Area business will be its biggest driver of revenue growth and is expected to generate steady and sustainable income over the long term.* The English names are not the official names and are translated for reference purpose only.About China Wantian Holdings LimitedChina Wantian Holdings Limited (01854.HK) is an investment holding company. The Group is principally engaged in food supply, catering chain and environmental protection and technology. In May 2022, China Wantian Holdings established its Greater Bay Area headquarters in Shenzhen, marking its official debut in the Greater Bay Area market to actively establish a leading green brand in the Greater Bay Area to provide customers with fresh, healthy and safe food, striving to become a leading lifestyle service provider in China.For more details, please visit: chinawantian.etnet.com.hk Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
More
China Wantian Holdings Proposes to Acquire Domestic Fresh Food Supply Chain Service Provider ACN Newswire

China Wantian Holdings Proposes to Acquire Domestic Fresh Food Supply Chain Service Provider

November 7, 2022
HONG KONG, Nov 7, 2022 - (ACN Newswire via SEAPRWire.com) - China Wantian Holdings Limited ("China Wantian Holdings", together with its subsidiaries, the "Group"; stock code: 1854.HK) is pleased to announce that Great Point Limited ("Great Point"), the Group's direct wholly-owned subsidiary, intends to acquire Champion Point Limited ("Champion Point")'s subsidiary Shenzhen Wealth Source Trading Development Company Limited* ("Shenzhen Wealth Source", together with Champion Point, the "Target Group"), which is a domestic fresh food supply chain service provider in the PRC. It marks the Group's expansion of its fresh food ingredient business into the Guangdong-Hong Kong-Macao Greater Bay Area (the "Greater Bay Area") market.The total consideration of the acquisition is HK$44.0 million and will be settled by China Wantian Holdings' allotment and issue of up to 91,660,000 consideration shares at the issue price of HK$0.48 per consideration share. The consideration shares represent approximately 5.96% of the issued share capital of the Group as at 7 November 2022 and approximately 5.62% of the issued share capital of the Group as enlarged by the allotment and issue of the consideration shares (assuming there will be no change in the total number of issued shares between 7 November 2022 and the allotment and issue of the consideration shares). The allotment and issue of the consideration shares will be made pursuant to the general mandate, and hence is not subject to the Shareholders' approval.Acquisition completion is subject to the fulfilment of conditions, including Great Point having completed and being satisfied with the results of its due diligence review on the sale shares and the Target Group. Meanwhile, according to the share purchase agreement, 91,660,000 consideration shares will be allotted and issued in three tranches in accordance with the profit conditions agreed between the parties. The first, second and third tranche consideration shares will be approximately 9,160,000 consideration shares, 27,490,000 consideration shares and 55,010,000 consideration shares respectively. Among which, the second and third tranche consideration shares will be allotted and issued when the audited net profit after tax (excluding any extraordinary or exceptional profit) for the year ending 31 March 2023 and 2024 of Shenzhen Wealth Source are not less than 85% of target net profits (RMB5.45 million and RMB7.50 million representatively). Upon the acquisition completion, the Target Group will become wholly-owned subsidiaries of China Wantian Holdings and their financial results will be consolidated into China Wantian Holdings' consolidated financial statements.In May 2022, the Group established its Greater Bay Area headquarters in Shenzhen, marking its official debut in the high-potential Greater Bay Area market. The Group will expand its existing business into the Greater Bay Area market, which has a large consumer base, and related downstream businesses, meanwhile stepping up its efforts to develop the three key businesses including supply chain and catering, as well as environmental protection and technology. Taking into account the adverse impact brought about by the outbreak of COVID-19 on the catering and corresponding food processing industries in Hong Kong, the Group's management believes that the Group can remain competitive by venturing into new markets and diversifying its business development strategies, thus generating higher returns for investors and shareholders. The Target Group which the Group proposes to acquire is principally engaged in the trading of live cattle, fruits, vegetables, seafoods and food ingredients in the PRC. Shenzhen Wealth Source is the operating subsidiary of the Target Group. It sources live cattle from Inner Mongolia and distributes them to slaughterhouses in the Greater Bay Area. It also supplies and offers fruits, vegetables and seafood to restaurants in the Greater Bay Area. Acquiring Champion Point with well-established business network and customer base in the PRC will allow the Group to offer comprehensive service packages to the customers and broaden customer base. Therefore, China Wantian Holdings' management believes that the acquisition is an ideal business opportunity for the Group to expand its existing supply chain business operation in Hong Kong to the Greater Bay Area market, adding that the target net profits of Shenzhen Wealth Source are promising in the next two years, the acquisition is poised to broaden China Wantian Holdings' revenue stream, thus contributing stable income in the future. * The English name is not the official name and is translated for reference purpose only.About China Wantian Holdings LimitedChina Wantian Holdings Limited (1854.HK) is an investment holding company. The Group is principally engaged in sourcing, processing and supplying food ingredients, with a focus on the provision of vegetables and fruit to food service operators in Hong Kong. It supplies in excess of 1,300 food ingredients to more than 480 customers. In May 2022, China Wantian Holdings established its Greater Bay Area headquarters in Shenzhen, marking its official debut in the Greater Bay Area market. The Group will focus on developing three main businesses in this market, including supply chain and catering, as well as environmental protection and technology to actively establish a leading green brand in the Greater Bay Area to provide customers with fresh, healthy and safe food.For more details, please visit: chinawantian.etnet.com.hk Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
More
Dr. HOOY Kok Wai, Chairman of the Board of China Wantian Holdings, wins the 17th World Outstanding Chinese Award; Mr. ZHONG Xueyong, Chief Executive Officer and Executive Director of China Wantian Holdings, is honoured with the 3rd World Outstanding Chinese Youth Entrepreneur Award ACN Newswire

Dr. HOOY Kok Wai, Chairman of the Board of China Wantian Holdings, wins the 17th World Outstanding Chinese Award; Mr. ZHONG Xueyong, Chief Executive Officer and Executive Director of China Wantian Holdings, is honoured with the 3rd World Outstanding Chinese Youth Entrepreneur Award

October 10, 2022
HONG KONG, Oct 10, 2022 - (ACN Newswire via SEAPRWire.com) - "Take practical action in a down-to-earth manner and aim high to achieve growth" is the long-standing company philosophy of China Wantian Holdings Limited ("China Wantian Holdings", together with its subsidiaries, the "Group"; Stock Code: 1854.HK). As a green enterprise engaged mainly in environmental protection and technology, retail, catering and fresh food supply, China Wantian Holdings has actively supported China's Greater Bay Area (GBA) development plan and net-zero carbon emissions vision in recent years, while outlining its development path for the GBA and striving to become one of the region's leading green brands. At a prize-giving ceremony yesterday, Dr. HOOY Kok Wai, Founding President of Guangdong - Hong Kong - Macau Greater Bay Area Industry and Commerce Federation, Vice Chairman of Perfect (China) and Chairman of the Board of China Wantian Holdings, was honoured with the 17th World Outstanding Chinese Award. Mr. ZHONG Xueyong, Founding Chairman of Guangdong - Hong Kong - Macau Greater Bay Area Industry and Commerce Federation, Co-Chairman of Wangu Group and Chief Executive Officer and Executive Director of China Wantian Holdings, was presented with the 3rd World Outstanding Chinese Youth Entrepreneur Award. Dr. HOOY Kok Wai and Mr. ZHONG Xueyong received the awards in recognition of their outstanding performance and achievements in the industry, and their active participation in public welfare affairs over the years, contributing to the social economy and helping to improve people's lives.Dr. HOOY Kok Wai, Chairman of the Board of China Wantian Holdings, was presented with the 17th World Outstanding Chinese Award.Mr. ZHONG Xueyong, Chief Executive Officer and Executive Director of China Wantian Holdings, was presented with the 3rd World Outstanding Chinese Youth Entrepreneur Award.Dr. HOOY Kok Wai (left), Chairman of the Board of China Wantian Holdings, took photo after receiving Lincoln University's honorary doctorate degree. As a Chairman of the Board at China Wantian Holdings and Vice-chairman of Perfect (China) Co., Ltd., Dr. HOOY Kok Wai brings to bear more than 30 years' deep experience of management and business development. He is also a renowned Chinese entrepreneur who focuses on improving people's lives. Dr. HOOY Kok Wai started his business in 1980. He was invited by his close friend Mr. Koo Yuen Kim, a third-generation member of the Chinese-Malaysian community, to visit Zhongshan, in Guangdong Province, where they co-founded Perfect Commodity Co., Ltd. ("Perfect Co.") in 1993. Over the years, Perfect Co. has continued to grow and has become a modern enterprise engaging in scientific research, production, sales and services. Making cumulative tax contribution of around RMB38.8 billion, Perfect Co. has become the largest taxpayer in Zhongshan. Adhering to a lifelong philosophy of positivity, optimism and hard work, Dr. HOOY Kok Wai contemplated starting a second business, and joined forces with Mr. ZHONG Xueyong to lead China Wantian Holdings, developing it as an enterprise that safeguards people's food safety and promotes the urban economy to fulfil the promise of helping people live better lives. In recent years, China Wantian Holdings has actively responded to China's call to improve people's health, embracing green development and adopting a mission to enable thousands of families to eat well every day, and it has worked tirelessly to become a leading lifestyle service provider in China.Mr. ZHONG Xueyong, the Group's Chief Executive Officer, is a post-1980s generation young entrepreneur, community leader and philanthropist. Mustering a Hakka spirit of diligence, innovation and pragmatism, Mr. ZHONG Xueyong founded Wangu Group in 2012 and accumulated the means to contribute to society through developing his business. In 2015, Mr. ZHONG Xueyong established Wangu Shopping Basket Plaza, a landmark project with both exterior and inner functions, making a commitment to developing it as a five-star safe food market providing air and water purification and one of the Zhongshan government's major large-scale livelihood projects. In 2018, with Dr. HOOY Kok Wai, Mr. ZHONG Xueyong founded WG Sky Farm International Group, which develops the rooftops of schools, government offices, hospitals and factories to create distinctive sky farm and grow organic vegetables, advancing healthy lifestyles, environmental protection and afforestation. In addition to setting an example for a new generation of entrepreneurs, Mr. ZHONG Xueyong never forgets his origins and always remembers past kindnesses he has received. He endeavours ceaselessly to contribute to society, helping disadvantaged members of the community and actively participating in the promotion of public welfare. As of 2021, he had organized more than 100 public welfare activities and had donated tens of millions renminbi to the disadvantaged group, directly benefiting over 100,000 people.The honours of the World Outstanding Chinese Award and the World Outstanding Chinese Youth Entrepreneur Award recognise the business philosophies and social influence of Dr. HOOY Kok Wai and Mr. ZHONG Xueyong over the years, during which they have distinguished themselves through their kindness and by cultivating a strong sense of social responsibility among China Wantian Holdings' management. "For being well prepared and raring to go, god rewards those who work hard," is Dr. HOOY Kok Wai's motto. As management at the Group, Dr. HOOY Kok Wai believes that he must set a good example for his employees. He remains ever-mindful of his origins, he always returns expressions of kindness he has been shown, and he devotes himself tirelessly to helping others succeed. He also strives to achieve further breakthroughs and surpass himself in corporate development. Mr. ZHONG Xueyong says it is his aspiration to contribute to livelihoods nationwide through entrepreneurship. To make an even greater contribution to society, he aspires to supply the Chinese people with the highest-quality food ingredients by continuously upgrading and expanding China Wantian Holdings' business. Driven by its mission of enabling thousands of families to eat well every day, China Wantian Holdings is committed to becoming a leading lifestyle service provider in China. Leveraging its two leaders' solid experience of business operations and strong social networks in China, the Group will actively cooperate with the Chinese government in developing a philosophy of modern agriculture technology and green environmental protection by creating fertile land on unused rooftop spaces to increase the proportion of urban greenery. The Group will promote environmental education at enterprises and in schools in order to support the sustainable development of the GBA. In the future, leveraging the honours received by Dr. HOOY Kok Wai and Mr. ZHONG Xueyong, China Wantian Holdings will proactively establish a development path for the GBA in line with China's national development plan and net-zero carbon emissions target, with the aim of becoming a leading green enterprise brand in the region.The 3rd Guangdong-Hong Kong-Macao Greater Bay Area Outstanding Young Entrepreneur Award Ceremony, co-organized and sponsored by China Wantian Holdings, was held simultaneously in Hong Kong, Macau and Shenzhen on 21 September 2022. One-hundred-and-two winners were selected from fields including semiconductors, autonomous driving, healthcare, home economics and the Internet of Things, based on their contributions and outstanding achievements in the GBA. The event was designated by the Government of the Hong Kong Special Administrative Region as one of the activities to celebrate the 25th anniversary of the city's returning to Chinese sovereignty. Mr. John Lee, Hong Kong Special Administrative Region's Chief Executive, attended and delivered a speech at the ceremony. At the event, Mr. ZHONG Xueyong was invited to shake hands and have his photograph taken with Mr. Lee.The award aims to identify the highest-potential and most representative young entrepreneurs in the GBA and recognise their outstanding contributions to promoting the integrated development of the region. It is hoped that more young talents will be encouraged by the two China Wantian Holdings entrepreneurs' success at the awards and seize opportunities to engage with the development of the GBA. China Wantian Holdings is actively engaged in the development of the GBA, and is committed to becoming a leading green brand in the region to contribute more to its economy and exquisite lifestyle in the society. The Group's management also hopes that young talents will pursue the opportunities the GBA offers and help the region to excel in harmony with the philosophy of the Guangdong-Hong Kong-Macao Greater Bay Area Outstanding Young Entrepreneur Award Ceremony.About China Wantian Holdings LimitedChina Wantian Holdings (1854.HK) is an investment holding company. The Group is principally engaged in sourcing, processing and supplying food ingredients, with a focus on the provision of vegetables and fruit to food service operators in Hong Kong. It supplies in excess of 1,300 food ingredients to more than 480 customers. In May 2022, China Wantian Holdings established its Greater Bay Area headquarters in Shenzhen, marking its official debut in the Greater Bay Area market. The Group will focus on developing three main businesses in this market, including fresh food supply, retail and catering, as well as environmental protection and technology and actively establish a leading green brand in the Greater Bay Area to provide customers with fresh, healthy and safe food.For more details, please visit: chinawantian.etnet.com.hk Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
More