[Edaily Reporter Kwon Oh Seok ] KOSDAQ-listed company WING YIP FOOD HOLDINGS GROUP(900340)announced on the 10th that it recently signed a contract with a Chinese state-owned enterprise for the contract manufacturing of meat products and is accelerating its expansion into the Chinese food supply chain with the support of that state-owned enterprise.

WING YIP FOOD HOLDINGS GROUP explained that it has signed a contract manufacturing agreement for processed meat products with “Shenzhen Zhenpin Group Co., Ltd.” Under the agreement, WING YIP FOOD HOLDINGS GROUP will leverage its competitive edge in processed meat manufacturing to produce and deliver products tailored to Shenzhen Zhenpin Group’s orders. The volume of the first order amounts to 1,000 metric tons.
The delivered products will be labeled with the food brand operated by Shenzhen Zhenpin Group and are scheduled to be distributed to end-consumer channels throughout China. As these products were selected after passing strict government standards, they are expected to inspire high levels of consumer trust.
Shenzhen Zhenpin Group is a state-owned enterprise based in Shenzhen, China, and serves as the operating entity for local agricultural product brands fostered by the Shenzhen municipal government to enhance food safety standards and strengthen the competitiveness of local businesses. It operates with the goal of increasing market trust and distribution competitiveness for products that meet strict quality standards.
With the recent rise in demand for food safety and quality control within the Chinese food market, the competitiveness of companies with stable production capacity and manufacturing management capabilities has become increasingly important. Major distribution and supply chain operators are also focusing on securing partners capable of flexible production responses.
WING YIP FOOD HOLDINGS GROUP places great significance on the fact that it has secured a state-owned enterprise as a new partner, having been recognized for its excellent production infrastructure and quality management capabilities. Using this as a springboard, the company plans to continue seeking opportunities for collaboration with various food distribution companies and supply chain operators across China.
A company official emphasized, “This collaboration with the state-owned enterprise is expected to develop into a medium- to long-term partnership, and we will consider expanding our production facilities in line with future sales growth across China.” The official added, “As we are also discussing plans to expand into overseas markets based on this collaboration with the state-owned enterprise, we will further strengthen this partnership through rigorous quality control.”