Want Want Explained

Want Want
Industry:Food and drink; media
Predecessors:-->
Successors:-->
Founders:--> Jonathan Shuai Qiang Ng
Areas Served:-->
Key People:Tan Swee Ling[1]
(Board member)
Profit:-->
Profit Year:-->
Owners:-->
Subsid:Want Want China, China Times

Want Want Holdings Limited (Want Want;) is a food manufacturer and media corporation from Taiwan. It is one of the largest rice cake and flavored drink manufacturers in Taiwan.[2] [3] It engages in the manufacturing and trading of snack foods and beverages, divided into four businesses: rice crackers, dairy products, beverages, snack foods (candies, jellies, popsicles, nuts, and ball cakes), and other products.[4] It operates over 100 manufacturing plants in mainland China and 2 in Taiwan, and employs over 60,000 people.[5]

History

In 1962, Want Want began operations in the name of I Lan Foods Industrial Company Limited in Yilan County, Taiwan, which manufactured canned agricultural products. It was founded by Tsai Eng-meng's father, Jonathan Shuai Qiang Ng.

Tsai Eng-meng took over his father's food business at the age of 19 and came up with a new product—crackers made from rice flour.[6]

1983, it collaborated with Iwatsuka Confectionery Company Limited, one of the top three Japanese rice cracker makers, to develop a rice cracker market in Taiwan. In return, Iwatsuka obtained 5% of the common stock of the company.[7] In 2009, Iwatsuka's share in Want Want was valued at about, nearly three times as much as Iwatsuka's own market value of .[8]

1987, it became the first Taiwanese operator to apply for the registration of the "Want Want" trademark in China. In 1992, it started its business in Mainland China. In 1994, it commenced its first production plant in Changsha, Hunan. 1996, it was listed on the Singapore Stock Exchange under the name Want Want Holdings Pte Ltd.

2007, Want Want Holdings Pte Ltd was delisted from the Singapore Stock Exchange.[9] In 2008, its subsidiary, Want Want China Holdings Limited, was listed on the Hong Kong Stock Exchange.[10] [11]

2008, Want Want China Holdings Ltd. was listed on the Main Board of the Hong Kong Stock Exchange Limited. HKEX STOCK CODE 0151. 2011, Want-Want China Holdings Ltd. was ranked one of the top choice of stocks to buy on the Hang Seng index.

2009, Want Want purchased China Times, as well as China Television (CTV) and CtiTV in 2009.[12]

Want Want has been described as part of Taiwan's conservative camp with the Kuomintang.[13]

Logo

The logo of Want Want is of a boy wearing blue and yellow overalls. He sometimes has red cheeks, and is on all of the Want Want products, usually in a small print. Most of the time, his eyes are looking up.[14]

Controversy

Want Want has faced repeated accusations of close links to the Chinese Communist Party[15] and has received subsidies from the Chinese government.[16] The Financial Times reported that these ties include coordination with the Chinese government's Taiwan Affairs Office.[17] [18] Want Want subsequently sued the Financial Times correspondent for libel, which Reporters Without Borders called an "abusive" lawsuit.[19]

In November 2019, Wang Liqiang, a self-proclaimed Chinese spy who defected to Australia, claimed that the Want Want China Times Group's media brands China Television and Chung T'ien Television had received funding from a company affiliated with the People's Liberation Army in return for airing stories unfavorable of the Taiwanese government and sought to influence the upcoming 2020 election.[20] The Want Want China Times Group denied these allegations.[21] [22]

See also

Notes and References

  1. Web site: Want Want Holdings Ltd - Company Profile and News . . 2021-02-08 .
  2. News: 2014-08-24. Taiwan's Wei family to buy cable TV operator CNS for $2.4 bln -source. en. Reuters. 2021-01-26. 2022-06-13. https://web.archive.org/web/20220613082759/https://www.reuters.com/article/cns-mbk-idUSL3N0QU0BC20140824. live.
  3. Web site: 2008-11-05. China Times Group is sold to Want Want - Taipei Times. 2021-01-26. www.taipeitimes.com. 2021-02-26. https://web.archive.org/web/20210226074951/http://www.taipeitimes.com/News/biz/archives/2008/11/05/2003427822. live.
  4. Web site: bakeryandsnacks.com. Want Want Holdings set to be 'one of the greatest brands in Chinese history'. 2021-02-11. bakeryandsnacks.com. 13 June 2018. en-GB. 2022-06-13. https://web.archive.org/web/20220613082816/https://www.bakeryandsnacks.com/Article/2018/06/13/Want-Want-set-to-be-one-of-the-greatest-brands-in-Chinese-history. live.
  5. Web site: TAIWAN: China Times Group is sold to Want Want. 2009-02-23. 2012-02-13. https://web.archive.org/web/20120213160032/http://www.asiamedia.ucla.edu/article.asp?parentid=100385. dead.
  6. Web site: Forbes: The Snack King of China - Want Want. 2021-02-08. SLOW Movement. 2021-12-03. https://web.archive.org/web/20211203083938/https://chutzpah.typepad.com/slow_movement/2009/11/forbes-the-snack-king-of-china-want-want.html. live.
  7. Web site: Rise of the new media moguls. 23 June 2012. South China Morning Post. en. 30 May 2020. 24 February 2021. https://web.archive.org/web/20210224220729/https://www.scmp.com/article/1004719/rise-new-media-moguls. live.
  8. Web site: Extending His Reach. Flannery. Russell. 9 October 2009. Forbes. en. 30 May 2020. 1 January 2016. https://web.archive.org/web/20160101211656/http://www.forbes.com/global/2009/1019/companies-want-want-tsai-eng-meng-extending-his-reach.html. live.
  9. Web site: Schenker-BAX Merger Completed, Want Want Plans HK IPO . 2009-02-23 . 2008-03-28 . https://web.archive.org/web/20080328031732/http://www.bizchina-update.com/content/view/628/2/ . live .
  10. http://www.flex-news-food.com/pages/15171/China/Snack/Taiwan/want-want-shares-fall-hong-kong-debut.html Want Want Shares Fall in Hong Kong Debut
  11. Web site: Want Want Holdings Ltd. 2009-02-23. 2008-12-08. https://web.archive.org/web/20081208211848/http://www.irasia.com/listco/sg/wantwant/profile.htm. live.
  12. Book: Burrett. Tina. Press Freedom in Contemporary Asia. Kingston. Jeffrey. 2019-11-05. Routledge. 978-0-429-01303-4. en.
  13. Book: Jeffrey Kingston . Press Freedom in Contemporary Asia . Tina Burrett . November 5, 2019 . . 978-0-429-01303-4 . Even so, the anti-media monopoly legislation remains a work in progress, due mainly to the controversy between the reformist camp (i.e., DPP, the New Power Party and media reform groups) and the conservative camp (i.e., KMT and the Want Want-China Times Media Group) about what criteria should be used to separate the financial and media industries..
  14. Web site: Want Want China Logo LOGOSURFER.COM. 2021-02-08. en. 2021-01-27. https://web.archive.org/web/20210127090558/https://www.logosurfer.com/logo/want-want-china-logo. dead.
  15. Web site: Aspinwall . Nick . Taiwan Shaken by Concerns Over Chinese Influence in Media, Press Freedom . thediplomat.com . The Diplomat . 24 November 2019 . 7 January 2020 . https://web.archive.org/web/20200107034440/https://thediplomat.com/2019/07/taiwan-shaken-by-concerns-over-chinese-influence-in-media-press-freedom/ . live .
  16. News: Kawase. Kenji. April 30, 2019. Chinese subsidies for Foxconn and Want Want spark outcry in Taiwan. The Nikkei. live. August 12, 2020. April 27, 2020. https://web.archive.org/web/20200427175212/https://asia.nikkei.com/Business/Companies/Chinese-subsidies-for-Foxconn-and-Want-Want-spark-outcry-in-Taiwan.
  17. Web site: Kurlantzick . Joshua . Joshua Kurlantzick . November 7, 2019 . How China Is Interfering in Taiwan's Election . live . https://web.archive.org/web/20191129042946/https://www.cfr.org/in-brief/how-china-interfering-taiwans-election . 29 November 2019 . 24 November 2019 . .
  18. Web site: Taiwan primaries highlight fears over China's political influence . subscription . 2024-07-11 . . 2021-03-24 . https://web.archive.org/web/20210324175916/https://www.ft.com/content/036b609a-a768-11e9-984c-fac8325aaa04 . live .
  19. Web site: 2019-07-24 . Taiwan: Abusive libel suit against Financial Times correspondent . 2024-07-11 . . en . 2024-03-04 . https://web.archive.org/web/20240304135009/https://rsf.org/en/taiwan-abusive-libel-suit-against-financial-times-correspondent . live .
  20. Web site: Sakkal . Paul . Tobin . Grace . McKenzie . Nick . 22 November 2019 . The moment a Chinese spy decided to defect to Australia . live . https://web.archive.org/web/20191123145223/https://www.theage.com.au/national/the-moment-a-chinese-spy-decided-to-defect-to-australia-20191122-p53d0x.html . 23 November 2019 . 24 November 2019 . www.theage.com.au . The Age.
  21. Web site: Strong. Matthew. Taiwan TV stations reject defector's allegations of China funding. live. https://web.archive.org/web/20191128083957/https://www.taiwannews.com.tw/en/news/3823353. 28 November 2019. 24 November 2019. Taiwan News. 23 November 2019.
  22. News: 2020-12-10. Taiwan TV station in media freedom row gets internet boost. en. Reuters. 2021-02-08. 2020-12-22. https://web.archive.org/web/20201222233200/https://www.reuters.com/article/us-taiwan-media-idUSKBN28K0FT. live.

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