On July 22, the listed company Guoquan Food Co., Ltd. (02517. HK) announced that its parent company, Yiyi Shanghai Guoquan Industry, wholly acquired Henan Huading Cold Chain Warehouse Technology Co., Ltd. (hereinafter referred to as "Huading Cold Chain Technology"), holding 100% of the shares.
"FMCG" learned that Huading cold chain technology was originally incubated by the participation of pot rings, but in recent years, the proportion of pot ring food shares in Huading cold chain warehouse distribution technology has gradually dropped to less than 30%. After the 100% holding, Yang Mingchao, chairman of Shanghai Guoquan, may become the chairman of Huading Cold Chain Technology.
According to industry analysts, Huading Cold Chain Technology, as the head enterprise of cold chain logistics in mainland China, has 22 provincial-level regional warehousing centers across the country, with 500,000 digital shelves and 2,890 trunk/branch transportation networks, and the distribution scope covers 290 prefecture-level cities and 1,749 counties in addition to Hong Kong, Macao, Taiwan and Qinghai. Provide high-quality cold chain warehousing and distribution services for more than 200,000 catering stores. According to Wang Jun, CEO of Huading Cold Chain Technology, as of the end of 2023, the GMV of Huading Cold Chain exceeded 10 billion yuan for the first time. In 2024, the GMV target of Huading Cold Chain Technology is 20 billion yuan.
The addition of the Guoquan system will strengthen the supply chain capacity of Guoquan Shihui, ensure the supply of goods in county and township stores, solve the problem of last-mile distribution, and promote the business expansion and internationalization strategy of Guoquan Shihui to enhance its brand influence.
FMCG paid attention to the fact that according to the 2023 annual financial report released by Guoquan, by the end of 2023, Guoquan has built a retail terminal network formed by 10,307 brand stores. The proportion of community stores is more than 90%. The combination with Huading Cold Chain is expected to create the largest digital community catering and retail store network in China.
Source: 36Kr