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WH Group
WH Group (Chinese: 万洲国际; pinyin: Wànzhōu Guójì), formerly known as Shuanghui Group (Chinese: 双汇集团; pinyin: Shuānghuì Jítuán), is a publicly traded Hong Kong-based multinational meat and food processing company headquartered in Hong Kong. Sometimes also known as Shineway Group in English-speaking countries, the company's businesses include hog raising, consumer meat products, flavoring products, and logistics. It is the largest meat producer in China.
In 2021, WH Group ranked 3rd on FBIF's Top 100 Chinese Food & Beverage Companies list.
Wan Long is the chairman and chief executive officer of WH Group. Kenneth M. Sullivan, the president and chief executive officer of Smithfield Foods, became an executive director of WH Group in January 2016.
Shuanghui has 13 facilities that produce more than 2.7 million tons of meat per year. It slaughters more than 15 million pigs a year, but only raises about 400,000; the rest are purchased from suppliers. The company holds more than 500 patents and produces 1,000 products. As of May 2013, Zhijun Yang is the managing director. The company employs approximately 101,000 employees as of 2019, and is 30% employee-owned.
Shuanghui was founded by the Luohe municipal government in 1958 with a single processing plant. Wan Long joined the plant in 1968, and became the plant's general manager by 1984. Under Wan, the company has expanded aggressively. In his first year, he turned around a struggling company, bringing it from a net loss to a net profit of 5 million yuan ($1.7 million).
In 1992, sausage sales fueled the expansion of the company which in turn resulted in investors from six countries founding Shuanghui International.
The company introduced its first branded meat product to the market in February 1992. Later that year, Shuanghui formed a joint venture with 16 institutional investors from six countries. In 1994, the venture was consolidated as Shuanghui Group. Shuanghui subsidiary Henan Shuanghui Investment & Development Company Limited (SZSE: 000895) was established and listed on the Shenzhen Stock Exchange in 1998. In 2000, Shuanghui started a post-secondary educational-work research division.
By 2006, Shuanghui was the largest food processor in China by corporate valuation, and 131st largest company overall. The company was valued at $1.3 billion, and controlled more than 50% of China's high-temperature processed meat market at that time. That year, Luohe government sold its share of Shuanghui to a joint venture of Goldman Sachs and private equity firm CDH Investments. Goldman Sachs later sold most of its share, reportedly for a large profit, but owned 5.2% of the company as of May 2013. Wan Long was appointed chairman of the company on 16 October 2007.
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WH Group
WH Group (Chinese: 万洲国际; pinyin: Wànzhōu Guójì), formerly known as Shuanghui Group (Chinese: 双汇集团; pinyin: Shuānghuì Jítuán), is a publicly traded Hong Kong-based multinational meat and food processing company headquartered in Hong Kong. Sometimes also known as Shineway Group in English-speaking countries, the company's businesses include hog raising, consumer meat products, flavoring products, and logistics. It is the largest meat producer in China.
In 2021, WH Group ranked 3rd on FBIF's Top 100 Chinese Food & Beverage Companies list.
Wan Long is the chairman and chief executive officer of WH Group. Kenneth M. Sullivan, the president and chief executive officer of Smithfield Foods, became an executive director of WH Group in January 2016.
Shuanghui has 13 facilities that produce more than 2.7 million tons of meat per year. It slaughters more than 15 million pigs a year, but only raises about 400,000; the rest are purchased from suppliers. The company holds more than 500 patents and produces 1,000 products. As of May 2013, Zhijun Yang is the managing director. The company employs approximately 101,000 employees as of 2019, and is 30% employee-owned.
Shuanghui was founded by the Luohe municipal government in 1958 with a single processing plant. Wan Long joined the plant in 1968, and became the plant's general manager by 1984. Under Wan, the company has expanded aggressively. In his first year, he turned around a struggling company, bringing it from a net loss to a net profit of 5 million yuan ($1.7 million).
In 1992, sausage sales fueled the expansion of the company which in turn resulted in investors from six countries founding Shuanghui International.
The company introduced its first branded meat product to the market in February 1992. Later that year, Shuanghui formed a joint venture with 16 institutional investors from six countries. In 1994, the venture was consolidated as Shuanghui Group. Shuanghui subsidiary Henan Shuanghui Investment & Development Company Limited (SZSE: 000895) was established and listed on the Shenzhen Stock Exchange in 1998. In 2000, Shuanghui started a post-secondary educational-work research division.
By 2006, Shuanghui was the largest food processor in China by corporate valuation, and 131st largest company overall. The company was valued at $1.3 billion, and controlled more than 50% of China's high-temperature processed meat market at that time. That year, Luohe government sold its share of Shuanghui to a joint venture of Goldman Sachs and private equity firm CDH Investments. Goldman Sachs later sold most of its share, reportedly for a large profit, but owned 5.2% of the company as of May 2013. Wan Long was appointed chairman of the company on 16 October 2007.