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Want Want

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Want Want
IndustryFood and drink
FounderJonathan Shuai Qiang Ng
Key people
Tan Swee Ling[1]
(Board member)
SubsidiariesWant Want China, China Times

Want Want Holdings Limited (Want Want; Chinese: 旺旺集團有限公司; pinyin: Wàngwàng Jítuán Yǒuxiàn Gōngsī) is a food manufacturer from Taiwan. It is one of the largest rice cake and flavored drink manufacturers in Taiwan.[2][3] It engages in the manufacturing and trading of snack foods and beverages, divided into four businesses: rice crackers, dairy products, beverages, snack foods (candies, jellies, popsicles, nuts, and ball cakes), and other products.[4] It operates over 100 manufacturing plants in mainland China and 2 in Taiwan, and employs over 60,000 people.[5]

History

I Lan Foods headquarters

In 1962, Want Want began operations in the name of I Lan Foods Industrial Company Limited (宜蘭食品工業股份有限公司) in Yilan County, Taiwan, which manufactured canned agricultural products. It was founded by Tsai Eng-meng's father, Jonathan Shuai Qiang Ng.[citation needed]

Tsai Eng-meng took over his father's food business at the age of 19 and came up with a new product—crackers made from rice flour.[6]

1983, it collaborated with Iwatsuka Confectionery Company Limited, one of the top three Japanese rice cracker makers, to develop a rice cracker market in Taiwan. In return, Iwatsuka obtained 5% of the common stock of the company.[7] In 2009, Iwatsuka's share in Want Want was valued at about US$350M, nearly three times as much as Iwatsuka's own market value of US$125M.[8]

1987, it became the first Taiwanese operator to apply for the registration of the "Want Want" trademark in China. In 1992, it started its business in Mainland China. In 1994, it commenced its first production plant in Changsha, Hunan. 1996, it was listed on the Singapore Stock Exchange under the name Want Want Holdings Pte Ltd.[citation needed]

2007, Want Want Holdings Pte Ltd was delisted from the Singapore Stock Exchange.[9] In 2008, its subsidiary, Want Want China Holdings Limited, was listed on the Hong Kong Stock Exchange.[10][11]

2008, Want Want China Holdings Ltd. was listed on the Main Board of the Hong Kong Stock Exchange Limited. HKEX STOCK CODE 0151. 2011, Want-Want China Holdings Ltd. was ranked one of the top choice of stocks to buy on the Hang Seng index.

2009, Want Want purchased China Times, as well as China Television (CTV) and CtiTV in 2009.[12]

2014, Want Want China Holdings Ltd. won the Largest Food and Beverage Enterprise Award in the Global Top 1000 Chinese Entrepreneurs by Asia Business Week. President Tsai Eng-Meng was ranked Top 100 CEO appraised by Harvard Business Review Magazine.

2015, Want Want China Holdings Chief Operating Officer, Matthew Tsai, was honored with the "Chinese F&B Association of Science and Technology Innovation Award: Notable Youth Award." Want Want proudly obtains the title of "Consumer's Favorite Brand of 2015" for both the food industry and beverage industry.

2017, Want Want China Holdings Ltd. was selected as one of the top 20 international brands in Taiwan.

2020, Want Want China continued to receive third place for 12 consecutive years in Taiwan's Top 25 International Company Brands.

The logo of Want Want is of a boy wearing blue and yellow overalls. He sometimes has red cheeks, and is on all of the Want Want products, usually in a small print. Most of the time, his eyes are looking up.[13]

Controversy

Want Want has faced repeated accusations of close links to the Chinese Communist Party[14] and has received subsidies from the Chinese government.[15] The Financial Times reported that these ties include coordination with the Chinese government's Taiwan Affairs Office.[16]

In November 2019, Wang Liqiang, a self-proclaimed Chinese spy who defected to Australia, claimed that the Want Want China Times Group's media brands China Television and Chung T'ien Television had received Chinese funding in return for airing stories unfavorable of the Taiwanese government and sought to influence the upcoming 2020 election.[17] The Want Want China Times Group denied these allegations.[18][19]

See also

References

  1. ^ "Want Want Holdings Ltd - Company Profile and News". Bloomberg News.
  2. ^ "Taiwan's Wei family to buy cable TV operator CNS for $2.4 bln -source". Reuters. 2014-08-24. Retrieved 2021-01-26.
  3. ^ "China Times Group is sold to Want Want - Taipei Times". www.taipeitimes.com. 2008-11-05. Retrieved 2021-01-26.
  4. ^ bakeryandsnacks.com. "Want Want Holdings set to be 'one of the greatest brands in Chinese history'". bakeryandsnacks.com. Retrieved 2021-02-11.
  5. ^ "TAIWAN: China Times Group is sold to Want Want". Archived from the original on 2012-02-13. Retrieved 2009-02-23.
  6. ^ "Forbes: The Snack King of China - Want Want". SLOW Movement. Retrieved 2021-02-08.
  7. ^ "Rise of the new media moguls". South China Morning Post. 23 June 2012. Retrieved 30 May 2020.
  8. ^ Flannery, Russell (9 October 2009). "Extending His Reach". Forbes. Archived from the original on 1 January 2016. Retrieved 30 May 2020.
  9. ^ "Schenker-BAX Merger Completed, Want Want Plans HK IPO". Archived from the original on 2008-03-28. Retrieved 2009-02-23.
  10. ^ Want Want Shares Fall in Hong Kong Debut
  11. ^ "Want Want Holdings Ltd". Archived from the original on 2008-12-08. Retrieved 2009-02-23.
  12. ^ Burrett, Tina; Kingston, Jeffrey (2019-11-05). Press Freedom in Contemporary Asia. Routledge. ISBN 978-0-429-01303-4.
  13. ^ "Want Want China Logo | LOGOSURFER.COM". Archived from the original on 2021-01-27. Retrieved 2021-02-08.
  14. ^ Aspinwall, Nick. "Taiwan Shaken by Concerns Over Chinese Influence in Media, Press Freedom". thediplomat.com. The Diplomat. Archived from the original on 7 January 2020. Retrieved 24 November 2019.
  15. ^ Kawase, Kenji (April 30, 2019). "Chinese subsidies for Foxconn and Want Want spark outcry in Taiwan". The Nikkei. Archived from the original on April 27, 2020. Retrieved August 12, 2020.
  16. ^ Kurlantzick, Joshua. "How China Is Interfering in Taiwan's Election". www.cfr.org. Council on Foreign Relations. Archived from the original on 29 November 2019. Retrieved 24 November 2019.
  17. ^ and Paul Sakkal, Nick McKenzie, Grace Tobin (22 November 2019). "The moment a Chinese spy decided to defect to Australia". www.theage.com.au. The Age. Archived from the original on 23 November 2019. Retrieved 24 November 2019.{{cite web}}: CS1 maint: multiple names: authors list (link)
  18. ^ Strong, Matthew (23 November 2019). "Taiwan TV stations reject defector's allegations of China funding". Taiwan News. Archived from the original on 28 November 2019. Retrieved 24 November 2019.
  19. ^ "Taiwan TV station in media freedom row gets internet boost". Reuters. 2020-12-10. Retrieved 2021-02-08.
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