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Tiandi No.1 Beverage
Tiandi No.1 Beverage Inc. is a Chinese non-alcoholic beverage company. The company produces apple vinegar. Corporate history
The founder of the company, Chen Sheng (Chinese: 陈生), invented his old vinegar (Chinese: 陈醋) recipe in 1997 and starts selling to the customers.[1][3] In 2002, the company was incorporated.[1] In 2007, the company starts selling Tiandi No.1 apple vinegar (Chinese: 天地壹号苹果醋饮料).[1][3] The shares of the company is traded in the Chinese over-the-counter National Equities Exchange and Quotations since 2015. Although Chen Sheng and his brother Wang Guang (Chinese: 王广), owned a combined 85.17% shares of the company as at 31 December 2015. Moreover, the top 10 shareholders owned a combined 97.08% shares, including directors Zhang Luan (Chinese: 张銮, ranked 3rd for 4.98%) and Yan Bin (Chinese: 闫斌, ranked 6th for 1.00%).[2] In April 2019, the company announced to form a joint venture with fellow beverage company Huiyuan Juice.[4] However, in July the deal was terminated.[5] Notable equity investmentTiandi No.1 Beverage owned 18.06% shares of Haisheng Juice (SEHK: 359) as of 2015.[6] Since 2016, Haisheng Juice is a supplier of Tiandi No.1 Beverage.[3] ControversyIn 2013, Guangdong "Time Weekly" (Chinese: 时代周报) reported that the company stored their ingredients improperly, as well as addictive was added to produce their vinegar, concerning the actual quality of their drinks.[7] In 2019, The Beijing News criticised the accuracy of the financial reports of the company.[3] Sister companySister company Guangdong Tiandi Food Group, was the parent company of a football club based in Zhanjiang. The sister company named the club "Zhanjiang Tiandi No.1 F.C.".[8] Chen also owned Guangdong No.1 Food Co., Ltd.,[9] which sold "No.1 Native Pig" (Chinese: 壹号土猪) and "No.1 Native Chicken" (Chinese: 壹号土鸡).[10] Chen was ranked joint-357th in 2012 Forbes China Rich List.[11] References
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