| Tiandi No.1 Beverage | |
| Type: | public |
| Industry: | beverage |
| Founded: | 2002[1] |
| Founder: | Chen Sheng |
| Hq Location Country: | China |
| Area Served: | mainland China, Hong Kong |
| Brands: | Tiandi No.1 |
| Products: | apple vinegar |
| Revenue Year: | 2015 |
| Operating Income: | CN¥514.816 million |
| Income Year: | 2015 |
| Net Income: | CN¥441.590 million |
| Net Income Year: | 2015 |
| Assets: | CN¥2.538 billion |
| Assets Year: | 2015 |
| Equity: | CN¥1.365 billion |
| Equity Year: | 2015 |
| Footnotes: | in a consolidated basis, in Chinese accounting standards[2] |
Tiandi No.1 Beverage Inc. is a Chinese non-alcoholic beverage company. The company produces apple vinegar.
The founder of the company, Chen Sheng, invented his old vinegar recipe in 1997 and starts selling to the customers.[1] In 2002, the company was incorporated.[1] In 2007, the company starts selling Tiandi No.1 apple vinegar .[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, 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 (ranked 3rd for 4.98%) and Yan Bin (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]
Tiandi No.1 Beverage owned 18.06% shares of Haisheng Juice as of 2015.[6] Since 2016, Haisheng Juice is a supplier of Tiandi No.1 Beverage.[3]
In 2013, Guangdong "Time Weekly" 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 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" and "No.1 Native Chicken" .[10] Chen was ranked joint-357th in 2012 Forbes China Rich List.[11]