Tianyun International (6836.HK) To Establish a joint venture with Linyi Development
To achieve the vision of developing the project of Linyi International Exchange Centre of Agricultural By-products
HONG KONG, Dec 12, 2023 - (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 and and specialty beverages in China, is pleased to announce that, today the Group and Linyi City Development and Industry Development Co. Ltd. ("Linyi Development"), entered into a cooperation agreement (the "Cooperation Agreement") to establish a joint venture (the "Joint Venture Project"), which will be principally engaged in warehousing and the sales of agricultural and processed products. The Group will be able to leverage on Linyi Development's resources in the storage and the sale of agricultural and processed products to create synergies.
Photo of the Signing Ceremony
As a state-owned enterprise affiliated to Hedong District Finance Bureau of Linyi City, Shandong Province, Linyi Development is an important pillar for the economic development of the Linyi region. Linyi Development is a diversified business with a wide range of key tasks including urban land consolidation, urban improvement, industry introduction and municipal construction, making outstanding contributions to the integrated and economic development of Linyi City. According to the Notice on the "14th Five-Year Plan for the Revitalisation and Development of the Old Revolutionary Region of Linyi" issued by the Linyi Municipal People's Government, it is planned to enhance the structural layout of the agricultural industry in the region, to create a supply base for high-quality agricultural products, and to build and operate the project of Linyi International Exchange Centre of Agricultural By-products.
Pursuant to the Cooperation Agreement, Linyi Development shall invest the RMB equivalent of US$95 million into the Joint Venture Project, with a shareholding ratio of 95% in the joint venture and will be responsible for the operation of the Joint Venture Project. The Group shall invest the HKD equivalent of US$5 million into the Joint Venture Project, with a shareholding ratio of 5% in the joint venture.
Through the joint venture, Linyi Development and the Group will promote the development of the local agricultural products marketing and processing industry, and plan to play an important role in the buiding and operating of Linyi International Exchange Centre of Agricultural By-products, injecting new vitality into the local economy.
Mr. Yang Ziyuan, Chairman and CEO of the Group said, "The establishment of the joint venture between Tianyun International and Linyi Development will effectively utilise the strengths of both parties and contribute to the comprehensive and economic development of the Linyi city, and will lay a solid foundation for the establishment of a strong partnership between the two parties. Leveraging on the Group's extensive resources and experience in the manufacture and sale of processed fruits and beverages, as well as the trading of fresh fruits, the Group will join hands with Linyi Development with a view to achieving the vision of buiding and operating of Linyi International Exchange Centre of Agricultural By-products and leveraging on the Group's business strengths to capture the brand new opportunities arising from the strategic cooperation and to achieve win-win situation."
About Tianyun International Holding Limited (Stock Code: 6836.HK)
Tianyun International Holdings Limited (the "Company") and its subsidiaries (collectively referred to as the "Group") are principally engaged in (i) the research and development, production and sales of processed fruit packaged in metal containers, plastic cups, glass containers and aluminum foil bags and beverages and (ii) trading of fresh fruit. Processed fruit products are sold both under its own brands "Bingo Times", "fruit zz" and "Tiantong Times" and on an OEM basis. The beverages are sold under its own brand "Shiok Party" and "Demon Fruit Season".
The Group has been consistently committed to providing its customers with healthy and safe products. As a food enterprise with one of the most complete quality certifications, we rigorously adhere to stringent international production standards and are accredited with BRC (A), IFS Food (High), FDA�HALAL�SC�KOSHER�ISO9001�ISO45001�ISO14001，SMETA and CQM, in respect of our production facilities, quality control and management. The Group has also passed the internal food production standards reviews and audits from several UK and US supermarket chains. At the same time, as a Chinese "Equal production line; Equal standard; Equal quality" food production and export enterprise, the Group has been supplying products of consistent quality to domestic and international markets.
The Group was awarded China's Most Promising Listed Companies by internationally renowned financial magazine Forbes, and the "2017 Linyi Mayor Quality Award" by the PRC government in 2017. The Group's new and proprietary researched, developed and produced pure fruit snack food received a national "Certificate of Invention Patent" in 2018. In 2019 and 2022, the Group was awarded the national Hi-tech Enterprise Certificate for consecutive four years. In 2020, the Group was also recognised as one of the Most Valuable Chinese Brands for the fourth consecutive year. In 2023, the Chairman and CEO of the Group was selected as one of the "2023 Top 30 ESG Entrepreneurs in the Greater Bay Area" by Forbes China.
