JDB Group, the herbal tea seller, and Beijing Enterprises Group have reached cooperation in four areas: food and beverage, cultural sports, real estate and health elderly care, and investment in Beijing Enterprises Football Club.
JDB Group, which sells herbal tea and mineral water, is set to enter the sports industry, real estate, and health elderly care. This private company has found a strong state-owned enterprise as a partner.
On June 7, Beijing Enterprises Group Co., Ltd. (hereinafter referred to as Beijing Enterprises Group) and JDB Group Co., Ltd. (hereinafter referred to as JDB Group) signed a strategic cooperation framework agreement in Hong Kong. Besides the food and beverage industry, the cooperation will also involve cultural sports industry, real estate and health elderly care industry, and investment intention in Beijing Enterprises Football Club.
This cooperation is an attempt at mixed-ownership economy between a large state-owned enterprise and a private enterprise.
Beijing Enterprises Group, established in January 2005, is one of Beijing's largest state-owned enterprises and has been selected for many years as one of "China's Top 500 Enterprise Groups" and "China's Top 500 Enterprises". The main business of this state-owned enterprise is investment, operation, and management of urban infrastructure and public utilities, including gas, beer, water, environmental protection, real estate, instrumentation, energy, transportation, and information technology.
Currently, Beijing Enterprises Group owns five Hong Kong-listed companies: Beijing Enterprises (the largest overseas-listed enterprise in Beijing), Beijing Enterprises Water, Beijing Development, Beijing Construction, and China Gas, as well as two A-share listed companies: Yanjing Beer and Huiqian Beer.
JDB Group is a beverage enterprise founded in 1995, with main products including "JDB Herbal Tea" and "Kunlun Mountain Snow Mountain Mineral Water", holding a certain market share in herbal tea and high-end mineral water.
In fact, JDB's development in its main business of herbal tea and high-end mineral water is not easy. In the herbal tea field, JDB has lost 19 consecutive lawsuits against its rival Wanglaoji, with cumulative claims exceeding 4.6 billion yuan. Kunlun Mountain mineral water has also not yet formed a strong position in the high-end mineral water market.
Beijing Enterprises Group owns FMCG brands such as Yanjing Beer and Jiulongzhai Sour Plum Drink. Cooperation in this area first will also help achieve resource sharing.
Chen Hongdao, Chairman of JDB Group, stated at the press conference that the two parties will, based on their respective brand influence and appeal, achieve resource integration and sharing in areas such as technology research and development and marketing in the food and beverage industry.
However, JDB seems to be "not doing its proper job" and is interested in developing businesses beyond FMCG brands.
In terms of sports industry construction and commercial operation, the specific project for cooperation is the "Tongzhou Cultural Sports Industrial Park". The two parties will jointly invest in and manage the football and basketball schools, sports venues, and other supporting facilities created in the park, and rely on the "Tongzhou Cultural Sports Industrial Park" platform to develop commercial resources in sports tourism, cultural leisure, and other fields.
At the same time, JDB Group has expressed a strong investment intention in the "Beijing Enterprises Football Club" under Beijing Enterprises Group, intending to acquire part of the equity of the "Beijing Enterprises Football Club". Beijing Enterprises Group is also willing to introduce external funds to increase investment, helping the Beijing Enterprises Football Club "achieve the goal of promotion to the Super League as soon as possible and become a first-class professional football club with considerable popularity and influence at home and abroad".
"Regarding the acquisition of equity in the football club, we have reached a preliminary cooperation memorandum with Beijing Enterprises Group, but many details are still under discussion," said Pang Zhenguo, Party Secretary of JDB Group, at the press conference.
In addition, relying on their respective resources in the Beijing-Tianjin-Hebei region, the Pearl River Delta region, and other areas, the two parties also stated they will cooperate in commercial real estate development, health elderly care, and other fields.
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