Food & Beverage Archives - Page 6 of 22

The 16th Hong Kong International Wine & Spirits Fair kicks off today

Grasps business opportunities for high-end spirits trade; opens to public on Saturday

– Over 600 global exhibitors, with more than a quarter bringing spirits from around the world
– Seminars on Hong Kong’s spirits market and taxation can help the industry capture new opportunities
– Sommeliers’ Picks makes its debut, with special labels on selected wines for easy identification
– The Wine Fiesta zone opens to public ticket holders on the last day of the Fair

The 16th Hong Kong International Wine & Spirits Fair, organised by the Hong Kong Trade Development Council (HKTDC), opens today and runs until 9 November at the Hong Kong Convention and Exhibition Centre.

In recent years, consumers in the region have developed a more sophisticated appreciation for wine and spirits, boosting the development of the liquor trade. The latest Policy Address announced a lower duty rate for liquor, which is expected to enhance the trade of high-end spirits.

More than 600 exhibitors from 20 countries and regions, including 17 pavilions, are taking part in this year’s Fair, representing Asia, Europe and the Americas in addition to Hong Kong and Mainland China, further promoting Hong Kong as a regional trading hub for wine and spirits.

A diverse showcase for wines and spirits
Overseas exhibitors and Hong Kong agents are bringing a diverse collection of wine and spirits from some 40 countries and regions. These include emerging Chinese wines, sake and award-winning wines, while more than a quarter of exhibitors are showcasing spirits, including baijiu from Mainland China such as Guizhou Moutai, Xi Jiu and Zhenjiu, whisky from the Czech Republic, Japan, Ireland and Scotland, tequila from Mexico, gin and brandy from Japan and more.

The Fair also features a Friends of Wine zone, which showcases gourmet foods that pair well with wine. Some exhibitors are also introducing their education and training services that promote the industry’s all-round development.

The inaugural Sommeliers’ Picks has engaged renowned sommeliers Arnaud Bardary MS, Carlito Chiu and Reeze Choi, the first Chinese sommelier named second runner-up of ASI Best Sommelier of the World Contest 2023, to share their favourite wine and spirits list including red wine, white wine, sake, whisky and spirits, to serve as a guide for industry professionals and the public. The selected wines will have special labels affixed for easy identification. The three sommeliers picked the following wines:

Red Wine
– Anthony Thevenet Morgon Cuvee Vieilles Vignes; France (Vynluna Wines Limited; Booth no.: 3D-C13)
– AOP Coteaux d’Aix en Provence Cocorico; France (Chateau Calissanne; Booth no.: 3D-C02)
– Domaine de la Noblaie Pierre de Tuf; France (Vynluna Wines Limited; Booth no.: 3D-C13)
– Reserve Range Sebastien’s Cabernet Sauvignon; Australia (Amadio Wines; Booth no.: 3D-D02)
– SELLATO; Italy (Az. Agr. Tenuta Viglione di Zullo Giovanni; Booth no.: 3E-C10)

White Wine
– Domaine Laureau Savennieres Les Genets; France (Vynluna Wines Limited; Booth no.: 3D-C13)
– PINOT BLANC PREMIUM; Czech Republic (THAYA vinarstvi, spol. s r.o.; Booth no.: 3E-B02)
– Tawse Quarry Road Chardonnay, Vinemount Ridge VQA; Canada (Vynluna Wines Limited; Booth no.: 3D-C13)
– VELTLINSKE ZELENE PZNP; Czech Republic (THAYA vinarstvi, spol. s r.o.; Booth no.: 3E-B02)

Sake
– Harunomine Junmai Ginjo Gyokuei 55 Namazake; Japan (Tanaka Sake Brewery Co., Ltd.; Booth no.: 3D-A03A)
– “Kohga Ninja” Unfiltered Pasteurized Junmai-Ginjo Sake 720ml; Japan (Equip Asia Limited; Booth no.: 3D-B09)
– Ski Masamune; Japan (Musashino Shuzo Co., Ltd.; Booth no.: 3C-E06A)
– The Ukishiro Sakitama Ancient Sake; Japan (Tanaka Sake Brewery Co., Ltd.; Booth no.: 3D-A03A)

Whisky and spirits
– UAIS; Ireland (Alarcon V. Limited; Booth no.: 3C-B23)
– World Blended Whisky ASAKA Distillery & 4; Japan (SASANOKAWA SHUZO Co.,Ltd; Booth no.: 3C-E06B)

Multiple events explore market trends
Some 50 events and conferences are being held during the Fair, with about one-fifth of these related to spirits. Renowned wine critic, wine writer and Chief Editor Lau Chi Sun discussed Hong Kong’s spirits market with industry experts at a seminar this afternoon organised by WineNow. They evaluated the latest market trends and outlook, including changes in taste preferences and the impact of the tax system.

Another seminar, hosted by Master of Wine Debra Meiburg, featured renowned experts Vietnamese sommelier Le Hoang Khanh Vi, wine critic Cecilia Wong, wine and beer educator Belle Leung and Founder of Mai Sake Erika Haigh, who explored beverage consumption trends and preferences among Gen Z and millennials.

The Fair also includes wine tasting sessions and seminars, along with conferences hosted by world-class Masters of Wine, sommeliers and industry professionals. These events are analysing trends in different regions and markets, while offering attendees a chance to sample fine wine and spirits from around the world.

Stef Yim, the first person from Hong Kong to establish his own winery and vineyard at Europe’s highest active volcano, Mount Etna in Italy, is hosting wine tasting sessions and seminars for business buyers and the public throughout the three-day fair.

There are several wine awards and competitions during the Fair. The Cathay Hong Kong International Wine and Spirit Competition 2024 Award Presentation Ceremony took place today, while the WineLuxe Hong Kong Top 10 Wine Pairing Restaurant Awards Presentation Ceremony 2024 will be held tomorrow. The Hong Kong International Mixology Showdown 2024 Hong Kong region semi-final, organised by the Hong Kong Bartenders Association under the theme of “Wine Kaleidoscope”, was also held today, while the debut “Final of China GBA region” will take place tomorrow.

Public Day welcomes wine lovers
On 9th November, the final day of the Fair, the Wine Fiesta zone will be open to ticket-holding members of the public aged 18 or above who can sample and buy wine and spirits, as well as participate in wine tasting sessions and special events. For instance, the Japan pavilion will offer sake for attendees to taste. In another session, speakers from the Asia Wine Service Education Centre will introduce participants to Italian natural wines.

Master of Wine Debra Meiburg will host a tasting session on sparkling wines, while Hong Kong-born ‘Volcano Winemaker’ Stef Yim will share his unique wine-making journey.

Lan Kwai Fong (LKF) Concepts has crafted a special cocktail, HK & Suit, for the Fair. This unique drink is available for purchase in the LKF Cocktail-Mixing Party inside the Wine Fiesta zone.

Regular tickets, priced at HK$200, are available at the exhibition venue. Advance tickets, priced at $99, are available until 6pm on 8 November through: BOOKYAY, CTG, HK01, HKTVMall, HKGO, KKDay, KLOOK, PopTicket, Timable, Trip.com, Lan Kwai Fong Group, Winenow, Wai Shing Wine International CO., Ltd. and Zicket. Ticket buyers will receive a complimentary Lucaris crystal wine glass and discounts on Hong Kong Airline air tickets on a first-come, first-served basis.

Website: https://www.hktdc.com/event/hkwinefair/en

Photo Download: https://bit.ly/4feFNAN

HKTDC Media Room: mediaroom.hktdc.com

Media enquiries
Please contact the HKTDC’s Communications & Public Affairs Department:

Kelly Shek	Tel: (852) 2584 4525	Email: kelly.yt.shek@hktdc.org
Snowy Chan	Tel: (852) 2584 4537	Email: snowy.sn.chan@hktdc.org

About HKTDC
The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus.

Bird House Cafe & Bar Opens in the Heart of Bangkok Catering to Tastebuds of All Ages

Tourists, visitors and passersby around Bangkok’s Sukhumvit district looking for a place to dine now have one more option to choose from. Bird House Cafe & Bar opened in July 2024 with the aim to be an all-day comfort place for patrons of all ages.

Bird House Cafe & Bar boasts a unique range of beverages at its cafe, including (from left to right): Lime Soda with Anchan Flower, Iced Tea with Honeycomb and Espresso Orange.

Located right in the centre of The Racquet Club’s new community space, RQ Bite 49, Bird House is a two-storey glasshouse cafe by day, and bar by night, offering an extensive menu ranging from beers to burgers, and wine to sandwiches.

Open daily from 8am till midnight, Bird House boasts a unique range of beverages at its cafe. Caffeine connoisseurs can sip on unique blends of coffee sourced directly from Ethiopia, Brazil and within Southeast Asia, with unique beverages like Espresso Orange, Espresso Passion Fruit and Ice Whiskey Latte. The cafe also serves familiar beverages like Americanos, Lattes, Mochas, Matcha and juices. By night, the cafe transforms into a bar serving American craft beer Sierra Nevada, Spanish lager Mahou, Belgian ale Duvel and more, to cater to the nighttime crowd.

The cafe serves a range of sweet and savoury treats, such as sandwiches, muffins, croissants and cookies. Patrons looking for a meal can turn to Goodburgs, the hole-in-the-wall take-away burger outlet next door. Goodburgs is known for its smash burgers and fries, suited for all taste buds, and offers up to nine different types of sauces and three types of loaded fries – BBQ Pulled Pork, Chilli Cheese and Oklahoma Blue Cheese.

Bird House and Goodburgs founder Nikhil Rattanaphas said, “The food and beverage industry is constantly evolving, and it is crucial for business owners to be aware of the ever-changing environment. While we originally intended Bird House to be a bar, we saw the opportunity to open for longer hours and serve customers throughout the day, especially at our location beside The Racquet Club. I am grateful to my investor, advisor, and most importantly, friend, Thanit Apipatana who suggested the strategic location for the cafe and bar.”

Apipatana, a Bangkok-based entrepreneur and investor, commented about how he saw the location as ideal for Nikhil’s F&B venture. “I visit The Racquet Club frequently and have been in conversations with Nikhil to set up his own F&B establishment. I saw this place as an opportunity for an establishment to attract customers of all ages, as its unique location attracts different footfall traffic throughout the day. Nikhil took my advice and now he has his own cafe and bar serving different menus to cater to customers of all ages throughout the day,” he said.

Patrons can enjoy a range of food beyond what the cafe and bar offers, as Bird House has a unique and welcoming policy which allows customers to bring outside food and dine in the cafe as long as they order a drink. The variety of food offered at RQ Bite 49 includes Korean street food, gelato and patisserie, as well as fresh, made-to-order pizza among others.

Nikhil expressed gratitude towards Apipatana for his expertise as an advisor and investor. “Apipatana not only shared his experiences in growing businesses, which helped me develop Bird House to offer unique products and services to our customers. His expertise and insights provided me with strategic guidance, and helped me navigate the complexities of the business landscape. The partnership with Apipatana built on trust, mutual respect and aligned goals, was a cornerstone of the success of Bird House,” he said.

From an extensive range of unique menu items to serving high-quality beers at competitive prices, such as Sierra Nevada on tap, Bird House aspires to be an all-day dining establishment catering to residents, visitors and patrons of all ages, lifestyles and needs.

“Bird House is up and running, and will be a long-standing fair place giving people what they want. The business landscape is going to be challenging, but Bird House offers a variety and we are confident that the business can grow in time to come,” Nikhil added.

Bird House Cafe & Bar

Bird House Cafe & Bar is located at 3 unit no. RQ.7 001, Soi Prachankadee 3 (Sukhumvit 49/9), Klongton-Nua, Wattana

Facebook: https://www.facebook.com/birdhousebkk
Instagram: https://www.instagram.com/birdhouse.bkk/

GS Holdings to Acquire Integrated Beverage Solutions Group, Octopus Distribution Networks, for S$11.8 Million; Expected to Yield Significant Opportunities and Additional Financial Benefits

GS Holdings Limited (“GS Holdings” or the “Company” and together with its subsidiaries, the “Group”), is pleased to announce that the Group has signed a binding agreement to acquire Octopus Distribution Networks Pte. Ltd. (“Octopus Distribution Networks”), a Singapore-based integrated beverage solutions group, for a purchase consideration of S$11.8 million.

GS Holdings’ Independent and Non-Executive Chairman, Mr Irwin Lim Kee Way, said, “We are pleased to announce the acquisition of Octopus Distribution Networks, which provides the Group with immediate access to new customer base and operating scale within the beverage sector in Singapore’s F&B industry.

Led by Dato’ Elaine Teh, the team at Octopus Distribution Networks has built an exceptional business enterprise that is dedicated to operational excellence and customers satisfaction for over 13 years.

With fully in-place infrastructure, including personnel and distribution networks, Octopus Distribution Networks has differentiated itself with unique value propositions and a strong base of customers, and we believe that there are significant opportunities for growth in existing and new markets. I trust this next step in our journey together will be incredibly positive for the Group.”

Octopus Distribution Networks’ Founder and Chairman, Dato’ Elaine Teh, added, “Today’s announcement marks a major step forward in our growth ambitions within the region’s F&B industry.

With the combined expertise, experience and resources, we will continue to build strong relationships with our customers and delivering value that consistently exceed expectations.

Together with GS Holdings, we are excited about accelerating the growth of our businesses and delivering results for years to come.”

Accretive acquisition that is synergistic to the Group’s business model and expected to yield significant opportunities and additional financial benefits

Founded in 2011 by serial entrepreneur Dato’ Elaine Teh Chooi Peng (“Dato’ Elaine Teh”), Octopus Distribution Networks has grown to become one of the leading integrated beverage solutions group in Singapore, providing a “one-stop” solutions hub, in the area of brand management, import, export, distribution, logistics and warehousing of alcoholic and non-alcoholic beverages and liquor, for both customers and beverage brand owners.

For customers, Octopus Distribution Networks represents an extensive portfolio of globally recognised beverage brands with various exclusive distribution rights. Currently, Octopus Distribution Networks has a product portfolio of more than 1,500 SKUs across approximately 200 beverage brands from 50 global brand owners. Octopus Distribution Networks also provides customised services that cater to the demands of both corporate and individual clients.

For beverage brand owners, Octopus Distribution Networks has become a trusted partner and a preferred beverage distributor in Singapore with a comprehensive distribution network comprising strategic distribution centres and third-party wholesalers in Singapore. With a deep understanding of the Singapore market, Octopus Distribution Networks also provides other value-added services, including market expansion strategies and customer engagement solutions, that aims to enable brand owners to quickly build brand loyalty and market share in Singapore.

Bringing a wealth of expertise and talent that enhances the Group’s leadership and experience in the F&B industry

Under the acquisition agreement, Dato’ Elaine Teh will become a controlling shareholder of GS Holdings and it will also bring on a professional management team with 80 years of collective experience in the beverage distribution industry to the Group.

Dato’ Elaine Teh is a serial entrepreneur with an accomplished business track record in various business ventures in Singapore, Malaysia and Australia.

Besides her current role as Founder and Executive Chairman of Octopus Distribution Networks, Dato’ Elaine Teh also holds multiple executive-level roles in various companies in different countries.

She is a Non-Executive Director of ASX-listed Australian Vintage Ltd, a leading Australian wine and drinks company, where their diversity of regions, broad portfolio of global brands, production capabilities and established winemaking pedigree have resulted in its brands being recognised and available in over 40 countries. Dato’ Elaine Teh is also the Founder & Executive Chairman of Etagreen Group in Malaysia, which is the owner and operator of a zero-waste biomass power plant in Perak, Malaysia, with assets of more than RM140 million.

In addition to her business roles, Dato’ Elaine Teh is actively involved in various business councils that nurture women entrepreneurs, promote gender diversity and inclusion, develop greater business collaborations and engagement with government agencies. Philanthropy is also something Dato’ Elaine Teh holds close to her heart, and she has generously facilitated several community building causes and initiatives across Southeast Asia with her time and resources.

Supporting Dato’ Elaine Teh as part her management team at Octopus Distribution Networks is Managing Director, Mr Matthew Ruscoe, who has been a trailblazer in Asia’s F&B and marketing industry for more than 12 years. With deep industry experience and strong regional network from his previous roles as the Regional Sales Director of Kerry Group and the Sales Director of Carlsberg Myanmar, Matthew undertakes a pivotal role in managing Octopus Distribution Networks’ marketing activities, supply chain operations and driving its strategic initiatives forward.

None of the Directors or substantial shareholders of the Company, as well as their respective associates, has any direct or indirect interest in the transaction stated here, other than through their respective shareholdings (if any) in the Company.

About GS Holdings Limited

(Bloomberg Code: GSHL:SP / Reuters Code: GSHO.SI / SGX Code: 43A)

GS Holdings Limited (“GS Holdings”) was incorporated in Singapore on 19 September 2014 and listed on Catalist on 18 January 2016.

With an aim to diversify its business model and create additional streams of income, GS Holdings has expanded into various business ventures in the food and beverage (“F&B”) industry. To harness its growth opportunities, GS Holdings is looking to further expand its brand presence across Asia and beyond via new franchising, licensing and distribution models.

For more information, please visit https://gsholdings.com.sg/.

This press release is to be read in conjunction with the Company’s announcement released on 23 October 2024, which can be downloaded via www.sgx.com.

Issued on behalf of GS Holdings Limited by 8PR Asia Pte Ltd.

Issued on behalf of GS Holdings Limited by 8PR Asia Pte Ltd.
Media & Investor Contacts:
Mr. Alex TAN
Mobile: +65 9451 5252
Email: alex.tan@8prasia.com

Hong Kong International Wine & Spirits Fair opens next month

Showcases drinks from across the globe, seize business opportunities under reduced liquor duty rate

– Over 600 exhibitors from 20 countries and regions, Mainland China participation up by 60% year-on-year
– Showcasing the world’s finest wines and spirits, including Chinese wines and baijiu, Japanese sake and shochu, vodka, brandy, and more
– Inaugural Sommelier’s Picks will engage renowned sommeliers to feature their favourite wine lists to industry professionals and the public

The 16th HKTDC Hong Kong International Wine & Spirits Fair will be held on 7-9 November at the Hong Kong Convention and Exhibition Centre (HKCEC), showcasing fine wines and spirits from around the world, along with related products and services to trade visitors and buyers.

With Hong Kong reducing the liquor duty rate, as announced during the Policy Address last week, to promote liquor trade and boost the development of high value-added industries, the Wine & Spirits Fair will enable the industry to seize opportunities presented by this measure.

Sophia Chong, Deputy Executive Director of the Hong Kong Trade Development Council (HKTDC), said: “To cater to consumers’ more sophisticated and diverse appreciation for wines, this year’s Wine & Spirits Fair offers a diverse range of wines and spirits from around the world to enhance the tasting experience and promote knowledge of wine through a series of special events. The market for Chinese baijiu and wine is thriving, especially following the recent proposal by the Hong Kong SAR Government to reduce taxes for high-end liquor. This year’s Fair brings together more than 600 exhibitors, with a notable increase in those showcasing Chinese baijiu and spirits around the world. Overall, participation from Mainland China has increased by 60% by scale compared to the previous year. The HKTDC is actively recruiting more buyers to take part in the Fair, further promoting Hong Kong as a regional trading hub for wine and spirits.”

This year’s Fair will bring together more than 600 exhibitors from 20 countries and regions. In addition to exhibitors from Hong Kong and the Mainland China, there are overseas exhibitors from all over the world, including those from Belarus, the Czech Republic, Denmark, France, Germany, Ireland, Italy, Poland, and the United Kingdom from Europe.

Exhibitors from the Americas included Argentina, Canada, Chile, Mexico and the United States. Australia, Japan and the Philippines make up the Asia-Pacific representation, while South Africa will participate for the first time.

A global showcase for exquisite wines and spirits
The Wine & Spirits Fair will feature a diverse range of alcoholic beverages, including old-world and new-world wines, Chinese wines, Japanese sake as well as spirits from around the world, including Chinese baijiu, Japan’s shochu, vodka and brandy. A variety of whiskies will also be showcased in both the Ireland and Japan pavilions.

Exhibited beverages include:
– Azienda Agricola Sciara 760 Metri Etna Rosso, making its fair debut, crafted by Stef Yim, Hong Kong’s first winemaker to set up a winery and vineyards at Mount Etna in Sicily, Italy. The nutrients from the volcanic mud and the high-altitude environment give this red wine its special aroma and flavour;
– Zhenjiu, Chinese Baijiu from Guizhou in Mainland China, a high-end sauce aroma aijiu. Its rich and full body with a complex layering of spice and fermented bean flavors leaves a long-lasting aftertaste;
– Fenjiu from Shanxi, traditional Chinese liquor crafted mainly from sorghum, which epitomises the light aroma style of baijiu with its crystal-clear appearance and a delightful aroma;
– Clonakilty Single Pot Still Irish Whiskey, winner of two global awards, triple-distilled and matured on the Atlantic coastline in Clonakilty, Ireland. It presents flavours of sweet vanilla, toffee apple, salted caramel and wood spices, with a dark chocolate and orange finish;
– Wabi Sabi Gin, developed by Japan’s pioneering female spirits entrepreneur Wakae. This gin features 13 botanicals, including Japanese citrus herbs and roses from Shimane Prefecture, creating layered flavours and a long finish;
– Ukishiro Sakitama Kodaishu 20 years aged by Yokota Sake Brewery, which has won 22 gold medals in the Annual Japan Sake Awards;
– Vinette Premium Canned Wines, a distinguished South African brand and gold medalist in the Gilbert & Gaillard International Challenge, renowned for crafting premium table wines in innovative aluminium cans.

The Wine & Spirits Fair also features the Friends of Wine zone, which showcases a variety of gourmet foods designed to complement the wines. Some exhibitors, such as Asia Wine Service & Education Centre (AWSEC), will also introduce their services that promote the industry’s all-round development.

Multiple events explore market trends
Conferences, tasting sessions and seminars hosted by world-class Masters of Wine, sommeliers and industry professionals, will analyse trends in various markets, while offering attendees an opportunity to sample fine wines from around the world.

The inaugural Sommelier’s Picks will engage three renowned sommeliers, Arnaud Bardary MS, Carlito Chiu and Reeze Choi, second runner-up of ASI Best Sommelier of the World Contest 2023 who will share their favourite wine lists with both industry professionals and the public.

A wine industry conference will be hosted by Master of Wine Debra Meiburg, which will explore consumption trends and preferences of alcoholic beverages among Generation Z and millennials. Jennifer Docherty, the first ethnically Chinese and Mandarin-speaking Master of Wine, will share her expertise on blind-tasting fine wines, while renowned wine critic and chief editor Lau Chi Sun will explore hot topics, such as the outlook for Hong Kong’s spirits market and impact of Hong Kong’s taxation system, in a seminar organised by Wine Now.

Prize presentation ceremonies and competitions at the Fair include:
– Cathay Hong Kong International Wine and Spirit Competition 2024;
– Washu Awards 2024;
– Hong Kong Best Spirits Awards 2024;
– WineLuxe’s Hong Kong Top 10 Wine Pairing Restaurant Awards Presentation Ceremony 2024
– Hong Kong International Mixology Showdown 2024 – Hong Kong region semi-final and the final of the debut Greater Bay Area region contest.

Public Day welcomes wine lovers
On the final day, the Wine Fiesta Zone will be open to public ticket holders to sample and buy a range of wines and spirits, while enjoying wine tasting experiences through a variety of activities.

Both buyers and ticket-holding members of the public aged 18 or above are welcome. Regular tickets are priced at HK$200, with specially-priced tickets at HK$99 available from 23 October via BOOKYAY, CTG, HK01, HKTVMall, HKGO, KKDay, KLOOK, PopTicket, Timable, Trip.com, Lan Kwai Fong Group, Winenow, Wai Shing Wine International CO., Ltd. and Zicket.

Special ticket buyers will receive a Lucaris crystal wine glass and discounts on Hong Kong Airlines tickets on a first-come, first-served basis.

Among other highlights, the Public Day will feature a seminar on sparkling wines hosted by Master of Wine Debra Meiburg.

Stef Yim, Hong Kong-born “Volcano Winemaker”, will take to the stage sharing his unique brewing journey.

The public will also hear from three experts on the career path of sommeliers.

Representatives from Lan Kwai Fong (LKF) have crafted a special cocktail “HK & Suit” for the Fair, featuring passion fruit and Japanese Akori Gin, among other ingredients. This cocktail will be available for purchase in the HKTDC x LKF Cocktail Festival inside the Wine Fiesta Zone.

Relevant data:

HKTDC Research Analysis and News – Duty Cut Set to Boost Hong Kong’s Regional Spirits Hub Prospects:
https://research.hktdc.com/en/article/MTgyODQ3ODEwMg

Photo download: https://bit.ly/4heUSUp

Website
Hong Kong International Wine & Spirits Fair: https://www.hktdc.com/event/hkwinefair/en

Media enquiries
Please contact the HKTDC’s Communications & Public Affairs Department:

Kelly Shek	Tel: (852) 2584 4537	Email: kelly.yt.shek@hktdc.org
Snowy Chan	Tel: (852) 2584 4525	Email: snowy.sn.chan@hktdc.org

About HKTDC
The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via trade publications, research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus.

DPC Dash – Domino’s Pizza China Drives Sales and Profit Growth and Optimizes Shareholder Structure

As recent economic stimulus measures by the government of China boost consumer confidence, and propel a rally in domestic stock markets, consumption stocks have been leading the surge, closing strong in the third quarter of 2024 strong. DPC Dash – Domino’s Pizza China, (DPC Dash or the Company) (HKG: 1405), Domino’s Pizza’s exclusive master franchisee in the China Mainland, the Hong Kong Special Administrative Region of China, and the Macau Special Administrative Region of China, has further optimized shareholder structure to deliver long-term and significant value to shareholders.

In the third quarter of 2024, the Company announced its inclusion in the Hong Kong Hang Seng Composite Index and the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect Programs, underscoring its market credibility and growth potential. The inclusion in both a major index and stock connect programs offered more liquidity. As of October 15, 2024, the company’s stock price has surged over 60% since its IPO on March 28, 2023, significantly outperforming the Hang Seng Composite Index during the same period[i]. In order to further optimize shareholder structure and enhance the Company’s trading liquidity, Domino’s Pizza LLC, an indirect wholly-owned subsidiary of Domino’s Pizza, recently announced an agreement to sell an aggregate of 10,000,000 of the Company’s shares, or 7.66% of its total issued share capital as of October 17, 2024, to purchasers including institutional investors through off-market block trades. Following this share sale, Domino’s Pizza LLC retains 6.21% of total issued share capital with a lock-up period of 90 days for its remaining shares. The enduring relationship between DPC Dash and DPZ remains robust. The allocation is an opportunity for DPC Dash to further improve liquidity and bring new dynamics to its shareholder structure. Notable international banks have rated DPC Dash as “Buy” or “Outperform”, showing confidence in the company’s fundamentals and stock performance.

DPC Dash continues to demonstrate its market prowess with strategic growth, operational efficiency and customer satisfaction. The Company’s remarkable success can be largely attributed to its effective 4D strategy of Development, Delicious pizza at value, Delivery, and Digital. This comprehensive approach has enabled the company to serve high-quality, value-for-money pizzas to a steadily growing customer base. From 2021 to 2023, DPC Dash realized a Compounded Annual Growth Rate (CAGR) of 37.6% in revenue. In the first half of 2024, revenue reached RMB2.04 billion while both reported and adjusted net profit after tax turned positive for the first time.

The Company’s “Go Deeper, Go Broader” strategy has been instrumental in its growth. As of September 30, 2024, DPC Dash operates 978 stores across 33 cities, reflecting a robust expansion with 210 new stores opened year-to-date. The combined total of net new stores added this year, stores currently under construction, and stores with signed agreements has reached approximately 100% of the full-year opening target for 2024. It is confident in maintaining this strong expansion dynamic, with plans to open its 1000th store in the fourth quarter of 2024 and open 300 to 350 new stores annually in 2025 and 2026. The store network expansion is supported by strong performance metrics, including holding 28 of the top 30 positions for first 30-day sales among Domino’s global network of over 21,000 stores as of the end of the third quarter of 2024. Since the current management took the helm in the third quarter of 2017, DPC Dash has since achieved 29 consecutive quarters of positive same-store sales growth (SSSG) despite market and industrial turbulence. Meanwhile, the company’s digital initiatives played a crucial role in driving customer engagement and loyalty. The company’s loyalty program boasted 21.7 million members as of September 2024, with 11 million new customers placing their first orders in the past 12 months with Domino’s Pizza China.

Looking ahead, DPC Dash remains focused on its expansion plans and operational enhancements, aiming for sustainable, profitable growth in China’s vast pizza market through continual innovation and optimization. The company’s resilient business model and strategic initiatives position it well for continued success in this competitive industry. The company will continue to strengthen its market position and add value to consumers by constantly enhancing product quality, service level, and customer experience.

[i] Based on closed stock price of DPC Dash and HSCI of March 28, 2023 and October 15, 2024.

Moolec Has Received USDA Approval for the First Genetically Modified Pea in History

Moolec Science SA (NASDAQ:MLEC) (the Company), a leader in Molecular Farming technology, announced today that the U.S. Department of Agriculture’s (USDA) Animal and Plant Health Inspection Service (APHIS) has completed its Regulatory Status Review (RSR) for the Company’s genetically engineered (GE) peas which produce iron through bovine meat proteins. This is the third regulatory clearance from USDA-APHIS achieved by Moolec in an 18-month window, alongside its genetically engineered safflower and soybean for GLASO™ and Piggy Sooy™ products, respectively. Access the official USDA-APHIS publication here.

“With USDA approval for our GE pea, Moolec has now secured regulatory clearance for all of our key crops in the US: safflower, soybean, and pea,” said Gastón Paladini, CEO and Co-Founder of Moolec. “We are proud to be the only Molecular Farming company with three US regulatory approvals and a major commercial contract. This milestone underscores our leadership in the landscape with tangible, science-backed results.”

Moolec’s genetically engineered peas produce high yields of bovine myoglobin, a protein that boosts iron content, making it an ideal alternative for consumers seeking plant-based sources of iron. This product has the potential to revolutionize both the food ingredient market and the $65 billion pea industry by offering a nutritious, iron-rich alternative to traditional meat products.

Amit Dhingra, Chief Science Officer for the Company, stated, “The USDA-APHIS Regulatory Status Review for pea marks a significant milestone for Moolec. As the first review for GE pea, it represents a historic development. It validates Moolec’s strategic approach and exemplifies our commitment advancing sustainable food production through science and innovation. This approval is a critical step toward enhancing global food supply and meeting the growing demand for innovative, nutritious food solutions for the world.”

This approval not only showcases Moolec’s innovation in Molecular Farming but also highlights the company’s commitment to meeting the highest regulatory and safety standards. Moolec has also developed an Identity Preservation Program to ensure sustainable farming practices, promote stewardship for its crops and product quality for partners, clients and consumers alike.

According to USDA-APHIS regulation found at 7 CFR part 340, developers may submit a request for a RSR when they believe a GE plant is not subject to the regulation. APHIS reviews the GE plant and considers whether it might pose an increased plant pest risk compared to its non-GE comparator. If APHIS does not identify a greater pest risk relative to the comparator, the GE plant is not subject to this regulation. Regulation 7 CFR part 340 governs the importation, interstate movement, and the environmental release of certain organisms that have been modified or produced by genetic engineering.

The USDA-APHIS review process is a critical component of ensuring that genetically engineered crops can be grown safely, and this approval opens the floor for expanded field trials, seed scaling, and eventual commercialization. With increasing interest in science-based ingredients, this approval positions the company to lead a new wave of innovation in the food and agriculture sectors.

About Moolec Science SA
Moolec is a science-based ingredient company leader in the use of Molecular Farming technology for food and dietary supplementation markets. The Company’s mission is to create unique food ingredients by engineering plants with animal protein genes. Its purpose is to redefine the way the world produces animal proteins for the good of the planet. Moolec’s technological approach aims to have the cost structure of plant-based solutions with the nutrition and functionality of animal-based ones. Moolec’s technology has been under development for more than a decade and is known for pioneering the production of a bovine protein in a crop for the food industry. The Company’s product portfolio and pipeline leverage the agronomic efficiency of broadly used target crops like soybean, pea, and safflower to produce oils and proteins. Moolec also has an industrial and commercial R&D capability to complement the company’s Molecular Farming technology. Moolec secures a growing international patent portfolio (25+, both granted and pending) for its Molecular Farming technology. The Company is run by a diverse team of PhDs and Food Insiders, and operates in the United States, Europe, and South America. For more information, visit moolecscience.com and ir.moolecscience.com.

Forward-Looking Statements
This publication contains “forward-looking statements.” Forward-looking statements may be identified by the use of words such as “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements with respect to performance, prospects, revenues, and other aspects of the business of Moolec are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Although we believe that we have a reasonable basis for each forward-looking statement contained in this publication, we caution you that these statements are based on a combination of facts and factors, about which we cannot be certain. We cannot assure you that the forward-looking statements in this publication will prove accurate. These forward-looking statements are subject to a number of significant risks and uncertainties that could cause actual results to differ materially from expected results, including, among others, changes in applicable laws or regulations, the possibility that Moolec may be adversely affected by economic, business and/or other competitive factors, costs related to the scaling up of Moolec’s business and other risks and uncertainties, including those included under the header “Risk Factors” in Moolec’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”), as well as Moolec’s other filings with the SEC. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Accordingly, you should not put undue reliance on these statements.

Contact Information
Press & Media
comms@moolecscience.com

Investor Relations
ir@moolecscience.com

SOURCE: Moolec Science

Innovation Beverage Group Through Sysco, the Global Leader in Foodservice Distribution, Announces Australian Bitters Now Available Nationwide in the U.S.

IBG’s award-winning Australian Bitters, the first bitters to be sold by Sysco, is now available through Sysco.com, SyscoMarketplace.com, and SuppliesontheFly.com
Marks expansion of IBG’s sales channels for Australian Bitters in the U.S. beyond traditional alcohol distributors and into the foodservice category
U.S. is the largest bitters market by volume in the $11 billion global bitters market which is expected to grow to $14 billion by 2030

Innovation Beverage Group Ltd, (IBG or the Company) (Nasdaq:IBG), an innovative developer, manufacturer, and marketer of a growing beverage portfolio of 60 formulations across 13 alcoholic and non-alcoholic brands, announced today that through its U.S. distributor, Buettner Global Services, a provider of high performance sourcing, procurement, and supply chain management, IBG’s Australian Bitters is now available nationwide in the United States through Sysco.

Sysco, the global leader in foodservice distribution, sells, markets, and distributes food products to restaurants, healthcare and educational facilities, lodging establishments, and other customers who prepare meals away from home. The company operates 340 distribution facilities worldwide and serves approximately 730,000 customer locations.

IBG’s flagship product, Australian Bitters, is hand crafted in small batches in Australia from the finest natural botanical herbs and spices. Australian Bitters won the Gold Medal at the Los Angeles Spirts Awards and is available in every major U.S. city.

Accounting for 40% of the global bitters market by volume, the U.S. is the most valuable bitters market in the world, with Australia being second, representing 13% of the global market by volume.

“We are very excited to expand availability of our award-winning Australian Bitters brand to the world’s largest market, and with the largest food distributor. With a shared commitment to quality and customer satisfaction, Sysco, brings extensive industry experience and a robust distribution network. Together, we aim to make Australian Bitters more accessible to restaurants, bars, and consumers across the United States,” commented IBG’s Chief Executive Officer, Dean Huge.

About Innovation Beverage Group
Innovation Beverage Group is a developer, manufacturer, marketer, exporter, and retailer of a growing beverage portfolio of 60 formulations across 13 alcoholic and non-alcoholic brands for which it owns exclusive manufacturing rights. Focused on premium and super premium brands and market categories where it can disrupt age old brands, IBG’s brands include Australian Bitters, Bitter Tales, Drummerboy Spirits, Twisted Shaker, and more. IBG’s most successful brand to date is Australian Bitters, which disrupted a 200-year-old market leader, giving the Company a market dominating position in several territories including a partnership in Australia with Coca-Cola Europacific Partners. Established in 2018, IBG’s headquarters, distillery, innovation, and manufacturing facility are located in Sydney, Australia with a U.S. sales office is located in New Jersey. For more information visit: https://www.innovationbev.com/

Forward Looking Statement
This press release contains “forward-looking statements” and “forward-looking information.” This information and these statements, which can be identified by the fact that they do not relate strictly to historical or current facts, are made as of the date of this press release or as of the date of the effective date of information described in this press release, as applicable.

The forward-looking statements herein relate to predictions, expectations, beliefs, plans, projections, objectives, assumptions, or future events or performance (often, but not always, using words or phrases such as “expects,” “anticipates,” “plans,” “projects,” “estimates,” “envisages,” “assumes,” “intends,” “strategy,” “goals,” “objectives” or variations thereof or stating that certain action events or results “may,” “can,” “could,” “would,” “might,” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) and include, without limitation, statements with respect to projected financial targets that the Company is looking to achieve.

All forward-looking statements are based on current beliefs as well as various assumptions made by and information currently available to the Company’s management team. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections, and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. We caution any person reviewing this press release not to place undue reliance on these forward-looking statements as several important factors could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions, and intentions expressed in such forward-looking statements. These risk factors may be generally stated as the risk that the assumptions and estimates expressed above do not occur.

The Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by Company or on behalf of the Company except as may be required by law.

Contact:
TraDigital IR
John McNamara
917-658-2602
John@tradigitalir.com

Contact Information
John McNamara
Investor Relations
john@tradigitalir.com
917-658-2602

SOURCE: Innovation Beverage Group

Pluk Phak Praw Rak Mae PCL (SET: OKJ) Eyes Expansion as the ‘King of Organic Salad’

– Expanding Investments in Organic Farming and Health-Focused Restaurants
– Raising Funds for New Branches of ‘Ohkajhu,’ ‘Oh! Juice,’ and ‘Ohkajhu Wrap & Roll’
– Aiming for More Than 150 Locations by 2028

Pluk Phak Praw Rak Mae PCL (SET: OKJ)(OKJ, the Company), a leading of food, beverages, and health products services provider known for its slogan “Be Organic from Farm to Table”, focuses on organic agriculture to strengthen its growth as the “King of Organic Salad” in Thailand after listing on the Stock Exchange of Thailand (SET) today, reinforcing its strong business fundamentals. The Company confirms positive feedback from investors and is ready to move forward with expanding its organic farming and health-focused businesses by opening new branches of ‘Ohkajhu,’ ‘Oh! Juice,’ and ‘Ohkajhu Wrap & Roll,’ targeting to be over 150 branches by 2028.

Mr. Chalakon Eakchaipatanakul, Founder and CEO of OKJ PCL, whose Company shares started trading on October 4, 2024, on the SET under Agro & Food Industry / Food & Beverage Sector, using the ticker “OKJ”, “This milestone marks a significant step in strengthening the Company’s financial structure to support future business expansion. With the Company’s potential and its business fundamentals in providing organic foods, beverages, and health products under concept “Be Organic from Farm to Table” encompassing the brands “Ohkajhu,” “Oh! Juice,” and “Ohkajhu Wrap & Roll,” which will support OKJ to reach out positive feedback from investors who are seeking to invest in a growing business against economic trends with long-term sustainable growth.”

The Company aims to establish itself as the “King of Organic Salad” in Thailand by continuously developing food and beverage recipes to meet the diverse demands of customers, and leveraging the expertise, experience, and readiness of its R&D team. As a result, OKJ has become a pioneer in creating delicious, unique, and easy-to-eat healthy food that attracts consumers’ interest and boosts sales. OKJ typically takes only 1-2 months to develop and launch new menus or products.

Moreover, OKJ is committed to expanding its business with strategies to develop and introduce new brands, as well as exploring and innovating new products to create New S-Curve business. Over the next five years (2024-2028), the Company plans to open new branches across its 3 brands. This includes expanding the “Ohkajhu” to be 67 branches from its current 37 branches, which include Full-service Restaurants and Deliver & Kiosk formats. The “Ohkajhu Wrap & Roll” will grow to be 20 branches from the current 1 branch, while “Oh! Juice” will expand to be 70 branches from its current 8 branches, leading to a total of 157 branches by 2028. These branches will cover Bangkok, its vicinity, major tourist destinations, and key regional cities.

Additionally, the Company distributes its products through various channels to reach a wide range of customers. These include Delivery and Kiosk format with a focus on delivery and Grab & Go, drive-thru services, snack box services, and online sales via various food delivery platforms. The Company is also supported by OR, one of its indirect shareholders and a strong partner that helps drive growth in multiple areas. This includes expanding branches at PTT Stations in strategic locations and distributing the Company’s products through Café Amazon. Moreover, the Company sells organic products, such as fresh vegetables and ready-to-eat salads, through Rimping Supermarket in Chiang Mai and Gourmet Market in Bangkok. OKJ also plans to expand its healthy food and beverage services, including selling meal plans and offering catering services, which align with changing consumer trends and the growing focus on health and wellness.

The CEO of OKJ added that the Company prioritizes research and development to enhance crop yield efficiency, to maintain its leadership in organic farming. It has been studied and developed industrial organic farming methods to consistently produce the organic products, without the expansion of farming area. The Company plans to use the raised funds to invest in equipment and infrastructure that has researched and designed, with an expected increase of around 300% in yield compared to current production. Furthermore, the Company has strategies to invest and develop machines, equipment, and infrastructure to improve planting efficiency, such as seeders, transplanting machines, fertilizer spreaders, plows, and irrigation systems.

At the same time, OKJ commits to expand its organic farmers network to promote sustainable organic farming, which help diversify sourcing, create income and jobs for farmers, reduce chemical usage, and restore forests and watersheds to local communities. To ensure the quality of products from the farmers, the Company plans to develop an “In-house lab” to test the vegetables purchased from farmers, ensuring they meet the Company’s standards for use in restaurants and sale under the “Ohkad” project. OKJ also certifies its organic standards (Ohkajhu’s Certified) for farmers’ agricultural products to guarantee that all vegetables sourced from farmers are organic and free from toxic substances and chemical.

In addition, the Company is preparing to develop production machines and equipment to increase capacity and enhance efficiency throughout the value chain, with a plan to develop a new central kitchen in Bangkok, located in the Rangsit, Pathum Thani. This facility is expected to begin operation by Q3/2025 to boost production capacity and introduce new product lines. The Company also plans to develop machinery, equipment, vegetable washing facilities, and information technology systems to enhance production efficiency in the central kitchen, manage raw material and inventories, and improve office operations to support future growth.

Mr. Pichet Sithi-Amnuai, President of Bualuang Securities PCL, as the financial advisor and lead underwriter, stated “OKJ is a leader in the healthy food and beverage industry in Thailand, which has received strong interest from institutional and retail investors during the recent IPO subscription period. The “Ohkajhu” brand is widely recognized as a leader in health-focused restaurants, offering premium-quality food. The Company uses high-quality ingredients, including fresh vegetables directly from their organic farms, which provide health benefits. Additionally, OKJ offers over 50 varieties of vegetables and flowers, distinguishing itself compared to other restaurants. The Company continues to innovate and develop a wide range of products, positioning itself as a trendsetter in creating unique, health-focused menu. As a result, OKJ has solid business fundamentals with significant potential growth in the future.”

Released by Public Relations Dept, MT Multimedia Co., Ltd. for Pluk Phak Praw Rak Mae PCL
For more information, please contact: Orn-anong Pattaravejkul (Fah)
Tel. +66 86-801-8888; E-mail: ornanong.p@mtmultimedia.com

Pluk Phak Praw Rak Mae PCL [SET: OKJ; OKJ/F; OKJ-R] https://www.okjgroup.com/en/home

Innovation Beverage Group Appoints Industry Leader Genevieve Jodhan, Former CEO of Angostura Holdings Limited, as Chief Sales Officer

Genevieve served in many executive leadership roles, including as CEO at Angostura Holdings Ltd, the world’s largest cocktail bitters producer and one of the Caribbean’s largest leading rum producers.
Genevieve has the experience and track record of delivering results and has proven leadership in international business development, revenue growth, and global distribution.
The new CSO appointment comes as Innovative Beverage Group is set to pursue robust growth following its IPO and Nasdaq listing.

Genevieve is well known in the beverage industry as a senior executive with proven experience in brand building. Genevieve joined Angostura Holdings Limited, the brand owner of the global iconic cocktail bitters brand, Angostura Bitters, in 2007. During her 11+ years at Angostura, she moved through five executive appointments, from Supply Chain Operations to Export Business Development, International Sales, and Marketing and, in 2017, she became the company’s first female Chief Executive Officer. She directed the commercial team that re-engineered the distribution model for Europe, the Middle East, Africa, Asia and Australia and the marketing of Angostura’s international brands including Angostura Aromatic Bitters. In addition to her role as CEO, Genevieve continued to lead the brand building team and developed strategic brand re-positioning tools that enabled international growth in the beverage alcohol industry. Genevieve is a graduate of the University of the West Indies with a BSc in Economics, and an MSc in Logistics and Supply Chain Management from Cranfield School of Management in the U.K. Genevieve completed the Advanced Management Program at Harvard Business School, and since 2021, she has been a guest lecturer on Supply Chain Resilience for the Supply Chain Leadership development program at the University of Warwick, U.K.

“With Genevieve on our team, IBG is ready to capture greater market share and continue our momentum as a disruptive innovator in the beverage market. Specific to bitters, as well as the broader alcoholic beverage market, she brings a strong industry network and a wealth of know-how as the former CEO of Angostura, reported to be the world’s most widely distributed beverage alcohol brand. Genevieve coming on board with IBG is a testament to the strength of our brand’s portfolio,” stated IBG’s CEO, Dean Huge.

“IBG brings creativity and innovation to the market with its new products, branding, and market positioning. I’ve been very impressed with its portfolio of cocktail bitters under the Australian Bitters and Bitter Tales brands and non-alcoholic drinks under the Drummerboy brand. In a short time, Australian Bitters has built brand awareness and favorability with bartenders who are seeking to create spicier more flavorful cocktails. I’m pleased to join this progressive team and look forward to leading the growth of an expanding portfolio of new beverages,” commented IBG’s new Chief Sales Officer, Genevieve Jodhan.

About Innovation Beverage Group
Innovation Beverage Group is a developer, manufacturer, marketer, exporter, and retailer of a growing beverage portfolio of 60 formulations across 13 alcoholic and non-alcoholic brands for which it owns exclusive manufacturing rights. Focused on premium and super premium brands and market categories where it can disrupt age old brands, IBG’s brands include Australian Bitters, Bitter Tales, Drummerboy Spirits, Twisted Shaker, and more. IBG’s most successful brand to date is Australian Bitters, which disrupted a 200-year-old market leader, giving the Company a market dominating position in several territories, including a partnership in Australia with Coca-Cola Europacific Partners. Established in 2018, IBG’s headquarters, distillery, innovation, and manufacturing facility are located in Sydney, Australia, with a U.S. sales office located in New Jersey. For more information visit www.innovationbev.com.

All forward-looking statements are based on current beliefs as well as various assumptions made by and information currently available to the company’s management team. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections, and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. We caution any person reviewing this press release not to place undue reliance on these forward-looking statements as several important factors could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions, and intentions expressed in such forward-looking statements. These risk factors may be generally stated as the risk that the assumptions and estimates expressed above do not occur.

Investor Relations Contact:
TraDigital IR
John McNamara
917-658-2602
John@tradigitalir.com

SOURCE: Innovation Beverage Group

DPC Dash Achieved Profitability with Double-Digit Revenue Growth Despite Industry Challenges

In the first half of 2024, the restaurant industry faced significant challenges due to shifting consumer preferences, changing spending habits and intensified competition. The increasing cost of goods and fiercely competitive pricing have resulted in an overall decline in industry profitability, with several large-scale restaurants reporting losses. Despite this challenging environment, DPC Dash (Domino’s Pizza China or the Company) (HKG: 1405) has leveraged these changes as a catalyst for growth, developing a new competitive edge focused on high quality-to-price ratios, allowing the company to flourish against prevailing trends.

DPC Dash, Domino’s Pizza’s exclusive master franchisee in the China Mainland, the Hong Kong Special Administrative Region of China, and the Macau Special Administrative Region of China, has successfully implemented its 4D strategy of Development, Delicious Pizza at Value, Delivery, and Digital. This approach has driven sustainable growth and profitability in the underserved Chinese pizza market in the first half of 2024, as reported in the company’s recently released interim financial report.

In the first half of 2024, DPC Dash generated record-high revenue of RMB2.04 billion, representing a year-over-year increase of 48.3%. This steady revenue growth reflects DPC Dash’s sustainable business model and resilient counter-cyclical strategy, which have significantly improved its profitability.

The Company’s financial improvement is demonstrated by its positive adjusted net profit and net profit after tax. Adjusted net profit turned positive in the first half of 2024 to reach RMB 50.9 million, compared to an adjusted net loss of RMB17.4 million in the same period of 2023. The company also reported a net profit after tax of RMB10.9 million, a 24.6% year-over-year increase compared to RMB8.8 million of the same period of 2023, positively impacted by the fair value gain of approximately RMB119.3 million on convertible senior ordinary shares.

Another testament to the company’s strong profitability is its same-store sales growth (SSSG), which compares the sales generated by same stores during the relevant period year-on-year. In the face of recent market challenges, it is extremely difficult to maintain positive SSSG momentum. DPC Dash has demonstrated its ability to deliver sustainable growth, achieving 28 consecutive quarters of SSSG, while continuing its expansion efforts.

As a franchisor of Domino’s Pizza, Inc., one of the world’s largest pizza companies, DPC Dash leverages this global strength to execute its 4D strategy, which continues to drive the company’s success in the underserved China pizza market.

DPC Dash has continued to execute its “go-deeper, go-broader” strategy, as DPC Dash added 146 stores and entered 4 cities in the first half of 2024. Total stores reached 914 across 33 cities as of June 30, 2024. This represents more than an eightfold increase in store numbers since the current management took over in 2017.

Newly-opened stores have been delivering exceptional performance. In the first half of 2024, revenue generated from new growth markets accounted for 61% of the total revenue, making new growth markets the Company’s main growth driver. Store numbers in the new growth markets exceeded 50% of all stores. At the beginning of May, DPC Dash expanded its presence by entering three new cities: Taizhou, Huizhou, and Jinhua in one week. The first stores in Huizhou and Jinhua both broke the DPC Dash record for daily sales. In June, DPC Dash celebrated the grand opening of its 900th store in Chengdu, Sichuan. As of July 31, 2024, DPC Dash held 28 of the top 30 positions for first 30-day sales among Domino’s stores globally. In newly entered markets, DPC Dash continues to expand its presence with more stores opening, while maintaining strong performance in existing stores. Among 42 stores the Company opened in 12 new cities from the late December 2023 through the first half of 2024, 18 stores have already achieved payback. The Company is expecting a shorter payback period on new stores than previously, reflecting the efficiency of its expansion strategy.

A McKinsey report identifies several key trends shaping consumer behavior, including a notable rise in engagement among younger consumers, especially in lower-tier cities where confidence remains relatively high. This demographic is more inclined to explore new dining experiences and local cuisines, providing restaurants with opportunities to innovate and attract this growing market segment. The newly-opened stores of DPC Dash in new markets have enjoyed great popularity, with people forming long lines at new locations. In response, DPC Dash actively suspended delivery services for selected new stores to cater to the high demand for in-store dining.

Long queue in front of Domino‘s Pizza store in China Mainland

DPC Dash has continuously innovated its product offerings and services at value to better serve customers’ evolving tastes and provide satisfying dining experience. Domino’s Pizza has established a global reputation for tasty pizza products and very innovative menus. The company introduces new stock keeping units (SKUs) every six to eight weeks, on average. In the first seven months of 2024, DPC Dash introduced three new pizza varieties and two new crust options, such as barbeque pork stuffed crust and coconut and pumpkin double decker.

Now the menu boasts over 30 pizza varieties and approximately 20 crust options, with pizza sales contributing more than 75% of the total sales. DPC Dash recently launched the new Volcano crust, filled with oozing cheddar cheese magma and Oreo crumbs. This unique concept in the pizza industry has already garnered positive feedback and recognition from the customers.

At the same time, DPC Dash has been offering value options on its menu with regular promotions on “Crazy Tuesday & Wednesday” and the “Mega Weeks”. Limited-time promotions partnering with popular brands cross sectors, such as Tencent Games and Hello Kitty, have also proven attractive to customers.

Meanwhile, brand marketing activities have become more targeted and cost-effective as the company strengthened its brand through network growth and strong performance in newly-entered markets. The Company has continuously enhanced its offering of personalized rewards, improving both new customer conversion and existing customer retention. As of August 2024, DPC Dash’s loyalty program has surpassed 20 million members, nearly doubling from 10.9 million members in June 2023. The Company continue to drive customer engagement, attracting new customers by dynamically engaging them through multiple online channels.

To cater to the surging demand, DPC Dash has set up central kitchens in Sanhe, Shanghai and Dongguan. In the central kitchens, the Company has already introduced automated machines to further boost production efficiency and management capability, as well as to improve delivery efficiency.

The success of the 4D strategy execution is reflected in enhanced profitability metrics on both store and group levels. The store-level operating profit margin increased to 14.5% in the first half of 2024, up from 13.5% in the same period last year. The store-level EBITDA margin increased to 19.3% in the first half of 2024, up from 18.7% in the first half of 2023. At the group level, group adjusted EBITDA reached RMB233.4 million, representing an 83.7% year-over-year increase from 127.0 million in the first half of 2023. Accordingly, group adjusted EBITDA margin rose to 11.4%, nearly tripling from 3.9% in year end of 2021.

In addition to serving consumers, DPC Dash remains committed to delivering long-term value to its shareholders. Only one year after its successful listing on Hong Kong Stock Exchange, DPC Dash has been officially included in both the Shanghai-Hong Kong Stock Connect Program and Shenzhen-Hong Kong Connect Program, and has been selected to be a constituent stock for the Hong Kong Hang Seng Composite Index, effective in September.

Reuters reported on September 27, “China stocks record best week since 2008.” The New York Times stated, “The volatile Hang Seng Index in Hong Kong, which includes a range of companies with activities in Hong Kong and in mainland China, was also up 12.8 percent this week.” DPC Dash’s stock has experienced substantial growth since its IPO, increasing by over 20% in the past ten trading days as of September 27.

DPC Dash has announced plans to open approximately 240 new stores in 2024, and will open its 1000th store in the fourth quarter of 2024. As of August 20, 2024, the Company has opened an additional 31 stores, with 29 stores under construction, and 21 stores signed, putting it on track to meet its full-year opening target. The company expects to open approximately 300 to 350 stores in both 2025 and 2026.

The early months of 2024 have shown a remarkable 12.5% increase in foodservice sales, indicating a robust recovery in the hospitality sector, according to a report from McKinsey & Company. This surge reflects increased consumer confidence and a return to dining out as pandemic restrictions ease, suggesting that consumers are willing to spend more on experiences such as dining, which is crucial for the restaurant industry.

Amid the attractive, growing market with its vast geographical scope and population, companies are striving for profitability and growth that requires more stable and resilient strategies. DPC Dash will continue to execute its 4D strategy in an efficient manner, aiming to deliver delicious pizza at value to customers, and sustainable long-term value for all stakeholders.