Legend Holdings invested billions of dollars in "drinking" tea

After Jiawo Blueberry, Kiwi, and Wine were unveiled, Legend Holdings entered the field of tea. Yesterday, Lenovo Holdings Jiawo Group announced in Hangzhou that it had reached a strategic cooperation with the Tea Research Institute of the Chinese Academy of Agricultural Sciences (hereinafter referred to as "China Tea Institute").

Jiawo acquired and controlled a 60% stake in Hangzhou Longguan Tea Industry Co., Ltd., a subsidiary of China Tea Company, which has a history of more than 60 years. The company has jurisdiction over five major Longjing tea production areas including Lion, Dragon, Cloud, Tiger and Mei.

According to reports, in fact, the two parties had already had more than six months of integration and collaboration before officially announcing their cooperation yesterday. The new Longguan Longjing series of spring tea jointly developed by Jiawo and China Tea was formally launched, including Yu Lian Xin, Golden Bowl Spike and Silver Puffin. The three series of tongues range from RMB 10,000 to RMB 1,000 per catty. On the sales channels, O2O's online and offline linkage model is adopted. In addition to offline distribution channels, they can also be purchased through the Jiawo Lynx flagship store.

"Jia Wo has to do tea is an established strategic direction for a long time," said Chen Shaopeng, president of Jiawo Group. Jiawo currently invests 100 million yuan in the field of tea. In the future, Jiawo Group must also vigorously expand its category of tea. Jia Wei, the deputy executive vice president of the company, said that Jiawo will also make a scale in the field of brewing tea in China. In the future, black tea, Pu'er tea and Tieguanyin will be the direction of Jiawo's expansion; in addition, tea including health products will be The tea deep-processing products are also in it.

Liu Chuanzhi, chairman of Legend Holdings, once again proudly represented his disciples Chen Shaopeng. At the signing ceremony, he stated that the Third Plenary Session of the 18th CPC Central Committee emphasized that China’s economic development should follow the path of a market economy. As a state-owned enterprise’s tea house, the reform of the property rights system is also the development of the mixed ownership economy in agriculture after the Third Plenary Session. In an important attempt, the cooperation between Jiawo and China Tea Institute will definitely bring about institutional innovation, property rights mechanism innovation, technology and business model innovation.

Jiawo Group is a modern agricultural sector company of Legend Holdings, which is mainly engaged in investment and related business operations in modern agriculture and food industry. Currently, it is investing in tea and wine and other business areas.