Date
23 September 2017

New Hope eyes 10 bln yuan food sales in 5 years, paper says

New Hope Liuhe Co. Ltd. (NHL, 000876.CN) expects its food unit to achieve sales of more than 10 billion yuan (US$1.63 billion) in five years, China Securities Journal reported Wednesday, citing Zhou Ziyong, the president of NHL Food. The food unit announced Tuesday that it has established a strategic partnership with online wine and spirits retailer 1919.com in a bid to emerge as an e-commerce player. NHL Food will open 1,000 chain outlets in China’s northern and northeastern regions, Zhou said, adding that its overseas expansion plan may cover Italy, Spain, New Zealand and Japan, among other countries, according to the report.

– Contact HKEJ at [email protected]

MY/AC/RC

 

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