China: Joy Wing Mau aims for US$7.7B in sales by 2022

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China: Joy Wing Mau aims for US$7.7B in sales by 2022

Leading Chinese fruit company Joy Wing Mau (JWM) celebrated its 20th anniversary earlier this month with the announcement of an ambitious goal - to grow revenue from the current level of 10 billion RMB (US$1.55 billion) to 50 billion RMB (US$7.7 billion) within five years.

While such growth may seem difficult to imagine at first, it is worth remembering the company's revenue was 100 million RMB (US$15.5 million) in 2002. 

Joy Wing Mau chairman Mau Wah Liu.

At the event on Jan. 7 in Shenzhen - including delegates from top international fruit companies including Capespan, Hortifrut, T&G, Driscoll’s and Zespri, along with diplomats, wholesale market representatives and major domestic players -  Joy Wing Mau looked back on its history and announced plans for the future.

In a release, the company highlighted milestones in its development such as the introduction of enterprise resource planning (ERP) to China's fruit industry in 2004, the introduction of Capespan as a shareholder in 2011 and deals with T&G and Hortifrut in 2016.

"With series of innovative measures, Joy Wing Mau now has become the leading fruit company in China," the company said.

The group currently owns 50 demonstration production bases in China and six orchards abroad, and distributes 2,000 metric tons (MT) of fresh fruit every day, delivering fruit to more than 80 cities where it serves 5,000 retail stores, 10,000 fruit shops and 10 million consumers daily.

"It drives the common development of 1,200,000 growers in China," the company added. 

Chairman Mau Wah Liu said the group would become a world-class "sharer" of fruit value in the supply chain, but he also pointed out the urgency for China to access new fruit varieties and technologies from countries that are highly developed in agriculture.

He expressed the willingness to push the quality of Chinese fruit to go global, so that "we could serve the country through industrial development, promote the development of China’s fruit industry and bring benefits to growers and welfare to consumers".

Joy Wing Mau president Jason Zhang

"Please always keep our visions in mind. Provide safe, fresh fruit to consumers; provide an efficient fruit supply chain service to clients; provide a platform where employees work and live happily; improve the production technology of China’s fruit industry."

It was then JWM president Jason Zhang who announced the 50 billion RMB sales goal, which would place the group in the top 500 companies in China and well and truly establish its place as a leading international fruit company. 

"Through our efforts, we hope to improve the operation of the industry to reach international standards; promote the commercial civilization for sustainable development; improve the social value and social status of fruit industry," Zhang said.

"We expect in the next 20 years, our company will become a world-class “sharer of fruit value chain; become a leading fruit company with annual turnover of 100 bn; become a brand that deeply rooted in consumers; become a major contributor to China and even the world’s fruit industry! I’m in full confidence to realize that."

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