---
title: "FMCG Daily | China Resources Beer CEO Sets 10 Billion Yuan Target for Baijiu Segment; Three Squirrels Responds to Former Largest Supplier Smuggling Case..."
description: "China Resources Beer CEO Hou Xiaohai announced a short-term target of 10 billion yuan for its baijiu segment. Three Squirrels responded to the smuggling case involving its former largest supplier, Jiangsu Hongbin Food Co., Ltd., stating that cooperation has ceased."
author: "New Distribution"
publisher: "New Distribution"
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published: "2023-02-28"
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# FMCG Daily | China Resources Beer CEO Sets 10 Billion Yuan Target for Baijiu Segment; Three Squirrels Responds to Former Largest Supplier Smuggling Case...

> China Resources Beer CEO Hou Xiaohai announced a short-term target of 10 billion yuan for its baijiu segment. Three Squirrels responded to the smuggling case involving its former largest supplier, Jiangsu Hongbin Food Co., Ltd., stating that cooperation has ceased.

**1. China Resources Beer CEO Sets 10 Billion Yuan Target for Baijiu Segment**
Recently, China Resources' baijiu "family"—Jinzhongzi Liquor, Jinsha Distillery, and Jingzhi Liquor—appeared at the 2022 Alcohol Industry Innovation and Investment Conference (AIIC). China Resources Beer CEO Hou Xiaohai stated: "We have a short-term goal to move towards 10 billion yuan. Let's set a small goal first, then look at bigger goals." (Securities Daily)

**2. Three Squirrels Responds to Former Largest Supplier Smuggling Case**
In response to the alleged smuggling case involving its former largest supplier, Jiangsu Hongbin Food Co., Ltd. (hereinafter "Jiangsu Hongbin"), Three Squirrels told Red Star Capital Bureau today that it no longer cooperates with Jiangsu Hongbin. According to a recent report by China Times, the case of Jiangsu Hongbin smuggling American nuts is currently in the second instance stage. (Red Star Capital Bureau, China Times)

**3. Alibaba Determines Five Major Strategies for Taobao in 2023**
Alibaba's management recently determined Taobao's five major strategies for this year: livestreaming, private domain, contentization, local retail, and price competitiveness. Currently, preliminary plans for how to implement these five strategies have been developed by core management, but they have not yet been finalized. (LatePost)

**4. Yanjin Shop 2022 Net Profit Up 99.86% Year-on-Year**
Yesterday, Yanjin Shop released its 2022 performance report. During the period, Yanjin Shop achieved operating revenue of 2.894 billion yuan, up 26.83% year-on-year; operating profit of 340 million yuan, up 100.38% year-on-year; and net profit attributable to shareholders of listed companies of 301 million yuan, up 99.86% year-on-year. (Company announcement)

**5. Hengshun Vinegar Annual Net Profit 138 Million Yuan**
On February 28, Hengshun Vinegar released its 2022 annual report. The company achieved operating revenue of 2.139 billion yuan from January to December 2022, up 12.98% year-on-year, with net profit attributable to shareholders of listed companies of 138 million yuan, up 16.04% year-on-year, and earnings per share of 0.1390 yuan. (Company announcement)

**6. Pinduoduo Launches "Agricultural Cloud Action"**
On February 27, according to Beijing News, to further serve rural revitalization and respond to the "digital commerce to revitalize agriculture" initiative, Pinduoduo recently announced the launch of the "Agricultural Cloud Action," concentrating superior resources to promote 100 agricultural production belts across the country to "go cloud" faster, creating a more resilient and competitive digital agricultural production belt. (Beijing News)

**7. Uni-President Launches Noodle, Rice Noodle, Egg, and Meat Sausage Combo**
It is understood that the content of the noodle, rice noodle, egg, and meat sausage combo includes 30g vermicelli and 70g noodle cake, paired with 30g marinated egg and 18g Jinluo meat sausage, with a net weight of 180g, creating a double happiness in one bucket. Currently, the product is available in two flavors: tempting sour and spicy, and golden soup beef. The retail reference price is 6 yuan per bucket. (foodtalks)

**8. Wandashan Dairy Unveils 27 New National Standard Products**
Recently, Beidahuang Wandashan Dairy's new national standard series milk powder launch conference was held in Qingyuan City, Guangdong Province. At the new product launch segment, 27 new national standard products from 9 series of Wandashan Dairy were officially unveiled. (Company release)

**9. Zhong Xue Gao's Shanhe Cup Launches 3 New Products**
Recently, Zhong Xue Gao's official Xiaohongshu account announced that Shanhe Cup has launched 3 new products, including chocolate chip ice cream, coconut-flavored coffee double-flavor ice cream, and pure milk flavor ice cream. (Company release)

**10. Penfolds Strategic Talks with China Alcoholic Drinks Association**
A delegation from Penfolds, a brand under Australian wine giant Treasury Wine Estates, visited the China Alcoholic Drinks Association last week. The two parties discussed strengthening strategic cooperation and enhancing the international influence of Chinese wine. (ACB News)


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