On July 1, the official microblog of beyond meat, a leading American Meat maker, announced that it would officially enter the retail market in mainland China. The company's artificial meat burger will be sold in 50 HEMA fresh raw stores in Shanghai from the end of this week, and will also be provided on HEMA app platform.
Beyond meat's main products are vegetable meat substitutes with animal protein taste and texture, which are made of soybean or pea protein. In May last year, beyond meat was listed on NASDAQ in the United States, with a sharp rise of 163% on the first day, creating the best performance on the first day of IPO of American companies since the 21st century, known as "the first stock of artificial meat", which also led to the rise of the concept stocks of "artificial meat" in the A-share market.
Since the beginning of this year, beyond meat has accelerated its market layout in China and has cooperated with several fast food giants to launch artificial meat products. In April, Starbucks China announced the launch of three brand-new vegetable beef products, namely, special beef green sauce pasta, classic lasagna and American hot and sour sauce rolls. The raw materials are provided by beyond meat. In June, yum! China also announced that it would cooperate with beyond meat to launch artificial meat burgers and other products in designated restaurants of KFC, Pizza Hut and Taco Bell.
It is worth mentioning that the meat supply chain in the United States has been impacted under the new crown epidemic, which has brought space for the development of artificial meat enterprises to a certain extent. According to financial report data, beyond meat achieved a net profit of $1815000 in the first quarter of this year, while it lost $6.649 million in the same period of last year, and realized a net profit of $97.1 million, up 141% year-on-year.
As of press release, beyond meat closed at $149.39, up 11.5%.