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*Nestle to Build Its First Plant-Based Food Factory in China
On the heels of the rollout of a number of foreign-made meat substitutes in the country, Swiss food giant Nestle has announced plans to build its first plant-based food factory in China. The announcement is part of a 100 million Swiss franc ($104 million) investment to strengthen its capability in a country with an estimated 50 million vegetarians and where the spend on protein derived from some vegetarian sources is expected to see double-digit growth.
*Tech giant Xiaomi reports 13.6% revenue growth in Q1
China’s tech giant Xiaomi reported 13.6 percent year-on-year revenue growth in the first quarter of 2020 despite the COVID-19 epidemic. Its total revenue in the January-March period totaled 49.7 billion yuan ($7 billion), the Beijing-headquartered company announced Wednesday in its quarterly financial report.
*Liangpin Shop stated on the interactive platform that the company has cooperated with celebrities, Internet celebrities and well-known anchors in various forms of cooperation. Every month, we will choose new products and explosive products to cooperate with well-known anchors to enhance brand awareness and allow more live broadcast audiences to experience the products. The sales generated by online celebrity live broadcasts account for a small proportion of our sales.
*SoftBank Group said it will sell 240 million shares of its mobile subsidiary SoftBank Corp. as part of a 4.5 trillion-yen asset sale or monetization plan, and its shareholding ratio will drop to 62.1%
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