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| Total investment expected to reach RMB 1bn in the next 3 years |
HONG KONG, Jan 8, 2019 - (ACN Newswire) - Tianyun International Holdings Limited ("Tianyun International", together with its subsidiaries, the "Group") (Stock code: 6836.HK), a leading seller and manufacturer of processed fruits products in China, is pleased to announce that it entered into a non-binding Memorandum of Understanding (the "MOU") with Sichuan Development Holding Company Limited ("Sichuan Development").
Both parties will utilize their strengths to collaborate together, inter alia, to develop a base for source of supply of raw materials and supply chain for processed agricultural and food products in Sichuan Province in China; to invest in talents, technology, expertise, business network and provide capital; to invest in agriculture industry projects, including introducing overseas advanced agricultural technology, mature corporate management system; to provide capital for acquisition of high-quality agriculture projects in China and abroad; and to contribute an aggregate sum of RMB1 billion in the next three years to agricultural food projects.
Mr. Yang Ziyuan, Chairman and CEO of the Group, said, "This cooperation is strategically important for Tianyun International. In light of SDH's strength in raising capital, business synergies and resources allocation resulting from its abundant capital and good reputation; and our Group having a professional management team and experience in and network for the procurement of resources, use of capital, arrangement of supply chain for processed agricultural and food products in China and abroad, we expect to achieve multiple business synergies for our development in the medium to long-term.
We believe that the cooperation will help both parties achieve complementary advantages for mutual development, lay an important foundation for Tianyun International to create
a global brand and build a sustainable enterprise with 100 years of history, and bring momentum for the Group's future growth and sustainable development, thus maximising shareholders' returns."
About Sichuan Development Holding Company Limited
Sichuan Development Holding Company Limited, a large-scale state-owned enterprise in the PRC, was established by the Sichuan Provincial People's Government in January 2009, with a registered capital of RMB80 billion. By the end of 2017, the business income of the company was RMB170.1 billion, with the total assets of RMB906.1 billion.
At present, it owns dozens of enterprises with different scopes of businesses, including transportation, energy, finance, mining, water service, travel, agriculture, environmental protection, competitive resources development, new emerging industries, healthcare and medical, financial and other fields authorized by the Sichuan Provincial Government.
About Tianyun International Holding Limited (Stock Code: 6863.HK)
Tianyun International Holdings Limited (the "Company") and its subsidiaries (collectively referred to as the "Group") are principally engaged in (i) the production and sales of processed fruit packaged in metal containers, plastic cups, glass containers and aluminium foil bags ii) trading of fresh fruit. Processed fruit products are sold both under our own brands and on an OEM basis.
The Group has been consistently committed to provide healthy and safe products to its customers. As one of the food enterprises with the most complete quality certifications, we have always been dedicated to following stringent international production standards and are accredited with BRC (A+), IFS Food (High), FDA, HALAL, SC, KOSHER, BSCI and ISO22000 in respect of our production facilities, quality control and management. The Group has also passed the internal food production standard reviews and audits from some of the UK and US supermarket chains. At the same time, within China, as a "Equal production line; Equal standard; Equal quality" food production and export enterprise, the Group has been supplying products of equivalent quality to domestic and international markets. Since 2016, the Group's own brand processed fruit products have continued to obtain a high degree of market recognition, and have been awarded by a national institution the honour and qualification of "China Canned Product Quality Certification Label", become the first fruit processor in China's fruit processing industry to put the "Zero Added Preservative Canned Products" label for its products sold in China.
The Group was awarded 2017 China's Most Promising Listed Companies by the internationally renowned financial magazine Forbes and became the only integrated food production and sales enterprise in Linyi City, Shandong Province, which was awarded the "2017 Linyi Mayor Quality Award". The Group's newly researched and developed pure fruit snack food also received the "Certificate of Invention Patent" from the State Intellectual Property Office of the People's Republic of China in 2018.
For more information, please visit www.tianyuninternational.com
Topic: Press release summary
Source: Tianyun International Holding Limited
Sectors: Daily Finance, Daily News
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