The company launched a new business called Sanquan Fresh, which integrates online ordering and offline delivery. After introducing the service in Shanghai, the company plans to expand it to Beijing and other major cities.
In another effort to expand distribution and enhance customer convenience, Sanquan planned to introduce lunchtime vending machines in Shanghai. The company also worked to integrate the acquisition of H.J. Heinz’s four Long Fong China packaged food businesses.
Sanquan produces and sells frozen sweet dumplings, frozen rice dumplings, frozen noodles, frozen pastries and other convenience foods. Sanquan Food is traded on the Shenzhen Stock Exchange.
Net income dropped 40 percent to $11 million on a 21 percent revenue increase to $357 million, during the first half of 2014. For the full year 2013, net income fell 13 percent to $19 million, while revenue rose 38 percent to $581 million.