Labixiaoxin 1262

Labixiaoxin 1262

Postby winston » Tue Jan 29, 2013 12:06 pm

not vested

Value Partners lifts holdings of LABIXIAOXIN (01262.HK) to 7.94%

HKEx disclosed that Value Partners purchased 34.2 million shares in LABIXIAOXIN (01262.HK) at an average price of $3.88 apiece on 23 January, involving capital of $133 million, lifting the holdings from 4.9% to 7.94%.

The Company announced yesterday that the strategic shareholder, COFCO BVI, sold 34.2 million shares, or 3%, of the Company, and ceased to be controlling shareholder.

Source: AAStocks Financial News
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Re: Labixiaoxin 1262

Postby winston » Tue Jan 29, 2013 12:09 pm

LABIXIAOXIN (01262.HK) records upbeat sales of candies in Angry Bird-concept; planning to open online shops
Nov 7, 2012

Crayon Shinchan (01262.HK) Executive Director Zheng Yu Huan said at a press conference that the new series of candies in Angry Bird concept received upbeat response in the Mainland and the Company will launch a new series of jelly candy during the Spring Festival.

Yap Yung, Chief Financial Officer, added, in September, for example, the new series of the candies accounted for 15% of the total sales of candies.

He believed that promotions, new packaging and new flavors will draw the interest of the customers.

Zheng added the Group is planning to open online store, hoping to use Angry Bird popularity to promote the Company's snack foods.

Source: AAStocks Financial News
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Re: Labixiaoxin 1262

Postby winston » Mon Mar 17, 2014 6:25 am

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Toxic news on jelly

Jelly producer Labixiaoxin Snacks Group (1262) faced fresh bad news, after being linked to poisonous gelatine from waste leather to produce gummy candies.
This follows a separate report alleging it had overstated sales.

CCTV claimed the gelatine Labixiaoxin used for making food was extracted from discarded shoe leather.

Yap Yung, chief financial officer of the company, explained that the producer of the toxic gelatine - Gelita - does not supply Labixiaoxin. Instead, another firm that makes gummy candies on behalf of Labixiaoxin obtained its raw material from Gelita.

Yap said 13,000 boxes of contaminated products will be recalled, but this will not pose any material impact on the firm's financial situation as gummy candies account for less than 2 percent of the group's sales.

Chairman Zheng Yulong earlier refuted allegations that the company had overstated its sales data.

Source: The Standard HK
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