logo
DFI Retail Group and Dingdong Announce Strategic Partnership With first-year sales target of HKD100 million

DFI Retail Group and Dingdong Announce Strategic Partnership With first-year sales target of HKD100 million

The Sun07-05-2025

HONG KONG SAR - Media OutReach Newswire - 7 May 2025 - DFI Retail Group (DFI or the Group), and Dingdong (Cayman) Limited (Dingdong or DDL), a leading fresh food e-commerce platform in the mainland, recently announced their partnership to their supply chains and retail networks. Together, they aim to build a digitalised cross-border supply chain system. Through DFI's Wellcome supermarkets, they will provide Hong Kong customers a diverse selection of quality products at competitive price, targeting sales of HKD 100 million in the first year of its launch. The first phase began on 9 April 2025, six selected Dingdong vegetables have already been made available in nearly 280 Wellcome stores, as well as Wellcome's Online Shop (www.wellcome.com.hk) and food delivery platform foodpanda. The sales will gradually be expanded to other upscale supermarket brands, such as Market Place and 3hreesixty.
Enhancing Cross-Border Supply Chain. Faster and Fresher Food from Mainland to Hong Kong
Hong Kong's fresh food market has long relied on imports, often facing price fluctuations of over 50% for leafy vegetables due to unstable weather. This collaboration allows DFI to leverage Wellcome's network of nearly 280 stores across Hong Kong while DDL utilises its nationwide sourcing and efficient transportation methods. This partnership aims to streamline the supply of fresh produce 'from farm to table.'
The two parties plan to jointly build a digitalised cross-border supply chain and integrate their data. An AI prediction system will dynamically help adjust the inventory across DFI's supermarkets to reduce / minimise out-of-stock rates. For example, the system can anticipate fluctuations in demand for leafy vegetables based on weather changes and holidays in Hong Kong, ensuring accurate supply. This digitalised supply chain, from upstream planting to downstream retail, improves the efficiency of the fresh food supply chain.
In addition, to ensure quality, DFI and DDL plan to adopt 'one product, one code' traceability technology for vegetables supplied to Hong Kong. Customers can scan a code after purchasing DDL products at DFI's supermarkets to access planting records, inspection reports, and transportation routes, achieving full transparency.
Curtis Liu, Chief Executive Officer, Food, at DFI Retail Group, said, 'This partnership with DDL, is to fully leverage the core strengths of both parties to jointly build an efficient digitalised cross-border supply chain. It enhances the quality and cost-effectiveness of fresh produce for our customers, creating a win-win situation. We believe this innovative model will significantly improve supply chain efficiency, ensuring that every customer can enjoy fresh, high-quality products.'
Yang Shaoming, Vice President of DDL, said, 'This collaboration integrates DDL's supply chain capabilities with Hong Kong's retail network. We will utilise our direct sourcing and digitalised supply chain to efficiently deliver high quality, safe fresh food to Hong Kong, enriching local shopping options, and making choices more affordable.'
DDL expands across Hong Kong with various vegetables available in nearly 280 Wellcome stores
The initial six types of vegetables available this time – Chinese Lettuce, Indian Lettuce, Choy Sum, Baby Bok Choy, Chaozhou Mustard Greens, and Spring Greens – are all selected from DDL's direct supply bases in mainland. The products meet both mainland and Hong Kong safety standards, ensuring quality and safety control at every stage from farm to shelf. The fresh vegetables are pre-cooled and freshness-locked within 2 hours after harvesting and transported in temperature-controlled trucks. Before arriving at the stores, they undergo a second manual sorting process, with strict control over quality and weight to ensure the freshness of shelf products. Within a month of launch, total sales exceeded 100,000 kilograms.
These selected vegetables are available in nearly 280 Wellcome stores and on Wellcome's Online Shop and foodpanda. The partnership plans to add regular categories such as bitter melon, okra, and green beans in 2025, along with vegetables popular on Chinese social media platforms and other regional specialties. This will give Hong Kong customers to enjoy a taste of seasonal specialties like Hubei Hongshan Cabbage in winter, Yunnan wild mushrooms and purple lettuce in spring, and Shandong cucumbers and Yunnan corn in summer. Notably, Yunnan's edible Banlangen and Red Little Spinach will be available in Hong Kong for the first time, meeting customers' diverse tastes and nutritional needs. Additionally, fruits, as well as soy products, ready-to-eat meals, snacks, and alcoholic beverages will be introduced, with over 150 products expected by the end of the year.
These products will cover all 18 districts of Hong Kong through Wellcome stores, Wellcome Online Shop, and foodpanda, achieving omni-channel availability and allowing customers to enjoy seasonal fresh vegetables from across the country. The two parties will actively explore expanding the cooperation to DFI's supermarkets in Macao and Cambodia, benefiting more customers in these regions.
https://www.dfiretailgroup.com/
https://www.linkedin.com/company/dfi-retail-group

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Easou Technology Holdings Limited Enters into Agreement to Raise Over HKD 180 Million Through Share Placement
Easou Technology Holdings Limited Enters into Agreement to Raise Over HKD 180 Million Through Share Placement

The Sun

time9 hours ago

  • The Sun

Easou Technology Holdings Limited Enters into Agreement to Raise Over HKD 180 Million Through Share Placement

HONG KONG SAR - Media OutReach Newswire - 20 June 2025 - Easou Technology Holdings Limited ('Easou' or the 'Company,' together with its subsidiaries, collectively referred to as the 'Group'; HKEX stock code: 2550)a leading AI-powered search and recommendation technology company, is pleased to announce that it has entered into a placing agreement with Growth Value LTD to raise approximately HKD 183.5 million through the placement of 57,330,000 new shares (the 'Placing Shares') at a placing price of HKD 3.2 per share (the 'Placing'). The Company presently intends to use the net proceeds from the Placing to fund: the research and development of its AI recommendation engine and artificial intelligence-generated content (AIGC), enabling new application scenarios across various entertainment verticals. Proceeds will support the expansion of its online gaming and short drama content in overseas markets, as well as the ongoing upgrades and development of its intelligent advertising platforms. This transaction will strengthen Easou's capital base and enhance its financial position and net assets base for long-term development and growth. The funds raised will enhance the Group's research and development capabilities, reinforce its technological edge, support its positioning as a third-party online reading platform, and accelerate the expansion of its digital marketing services and international business. In a demonstration of confidence in the Company's future, Mr. Wang Xi, Executive Director, Chairman, and CEO of Easou, has voluntarily committed not to sell any of his shares for 75 days from the date of the agreement. Mr. Wang Xi commented: 'This fundraising marks a pivotal step in the Group's strategy to build its AI+ content ecosystem. By prioritizing investment in the research and development of AI recommendation engines and AIGC technologies, we are empowering the growth of our digital marketing services while accelerating the rollout of high-potential content formats such as short dramas and online games. At the same time, our overseas expansion strategy is aimed at capturing the vast opportunities presented by the global AI market. This transaction will significantly enhance Easou's capital base and investor foundation, further strengthening our leadership in the rapidly evolving AI era.'

Alibaba movie unit's pivot, rebrand bring US$2b value gain
Alibaba movie unit's pivot, rebrand bring US$2b value gain

Malaysian Reserve

time13-06-2025

  • Malaysian Reserve

Alibaba movie unit's pivot, rebrand bring US$2b value gain

DAMAI Entertainment Holdings, formerly Alibaba Pictures Group, is shifting its focus from movies production to faster-growing entertainment segments targeting younger consumers — and investors are taking notice. Since its May 19 earnings report, which highlighted a pivot toward IP licensing and live events, the company's shares have roughly doubled, making it the top performer on Hong Kong's Hang Seng Composite Index and adding $2 billion in market valuation. Several analysts have since upgraded their outlooks. The rebrand to Damai Entertainment, effective this month, reflects this broader focus. While its core film production business shrank, Damai still posted double-digit growth in both sales and profit for the fiscal year ended March 31 — driven by its IP merchandising and live entertainment arms. The Damai name, originally tied to its concert and event unit, now represents the company's alignment with China's 'new consumption' trend. Young consumers are increasingly drawn to tech-driven, emotionally engaging experiences, and Beijing is encouraging more spending to boost the economy. The name change and strategic shift are a 'turning point,' signaling Damai's ambition to become a more well-rounded offline entertainment provider, Citigroup analysts including Vicky Wei said in a note. The stock has already surpassed Citi's HKD$0.92 target and China International Capital Corp.'s revised HKD$0.98 target. Still, Damai remains a penny stock with notable risks. Its film and TV segment shrank 9.6% last year, and content investment remains volatile. Citi maintains a 'Buy/High Risk' rating, citing margin uncertainties. Its valuation has also become high, according to Shen Meng, a director at Beijing-based Chanson & Co. 'Short-term stock price fluctuations increase valuation risks,' he said. The stock is trading at nearly 29 times its forward earnings estimates, far above a ratio of around 10 for the Hang Seng Index, data compiled by Bloomberg show. But he believes the pivot toward younger consumers is smart: 'Young people have a longer consumption cycle.' That's already playing out. Gen Z's spending on hobby goods and celebrity merch has fueled stock surges for companies like Pop Mart International Group and Bloks Group — and now Damai. The IP merchandising unit, including the sublicensing business AliFish, partners with brands like Pokémon, Sanrio, and Chiikawa, and sublicenses them to merchants. The unit's revenue grew 73% last year. The Citigroup analysts call AliFish 'the nation's largest IP licensing agent' and 'young people's underlying supplier for IP merchandising.' Meanwhile, Damai's live entertainment business — concerts, festivals, exhibitions — saw a 236% revenue jump. It also runs a major ticketing platform and expects more growth from international concert sales. 'Entertainment in China has strong, diverse demand,' Shen said. 'If one has liked something since childhood, they will basically always like it.' –BLOOMBERG

CNOOC Limited Brings On-stream Weizhou 5-3 Oilfield Development Project
CNOOC Limited Brings On-stream Weizhou 5-3 Oilfield Development Project

Malaysian Reserve

time09-06-2025

  • Malaysian Reserve

CNOOC Limited Brings On-stream Weizhou 5-3 Oilfield Development Project

HONG KONG, June 9, 2025 /PRNewswire/ — CNOOC Limited (the 'Company', SEHK: 00883 (HKD Counter) and 80883 (RMB Counter), SSE: 600938) today announces that Weizhou 5-3 Oilfield Development Project has commenced production. The project is located in the Beibu Gulf Basin of the South China Sea, with an average water depth of approximately 35 meters. The main production facility includes 1 self-installing wellhead platform, which leverages the adjacent existing facilities for development. 10 development wells are planned to be commissioned, including 7 production wells, 2 water injection wells and 1 gas injection well. The project is expected to achieve a plateau production of approximately 10,000 barrels of oil equivalent per day in 2026. The oil property is medium crude. CNOOC Limited holds 51% interest in the project, and Smart Oil Investment Ltd. holds the remaining 49%. — End — Notes to Editors: More information about the Company is available at *** *** *** *** This press release includes forward looking information, including statements regarding the likely future developments in the business of the Company and its subsidiaries, such as expected future events, business prospects or financial results. The words 'expect', 'anticipate', 'continue', 'estimate', 'objective', 'ongoing', 'may', 'will', 'project', 'should', 'believe', 'plans', 'intends' and similar expressions are intended to identify such forward-looking statements. These statements are based on assumptions and analyses made by the Company as of this date in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that the Company currently believes are appropriate under the circumstances. However, whether actual results and developments will meet the current expectations and predictions of the Company is uncertain. Actual results, performance and financial condition may differ materially from the Company's expectations, including but not limited to those associated with macro-political and economic factors, fluctuations in crude oil and natural gas prices, the highly competitive nature of the oil and natural gas industry, climate change and environmental policies, the Company's price forecast, mergers, acquisitions and divestments activities, HSSE and insurance policies and changes in anti-corruption, anti-fraud, anti-money laundering and corporate governance laws and regulations. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements. The Company cannot assure that the results or developments anticipated will be realised or, even if substantially realised, that they will have the expected effect on the Company, its business or operations. *** *** *** *** For further enquiries, please contact: Ms. Cui LiuMedia & Public RelationsCNOOC LimitedTel: +86-10-8452-6641Fax: +86-10-8452-1441E-mail: mr@ Mr. Cheng YaoEver Bloom (HK) Communications Consultants Group LimitedTel:+852 5540 0725Fax:+852 2111 1103Email:

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store