What does the company do?
Foshan Haitian has over 300 years of history in soy sauce making and is today China’s largest condiment producer. It is a household brand in China with strong consumer recognition. It has the largest market share in soy sauce, oyster sauce and cooking wine and is constantly developing new products which have been readily adopted by consumers.
It has been consistently investing in R&D to drive product innovation and improve operational efficiency. This has enabled the company to build a robust and diversified product portfolio and industry-leading low-cost operation.
The Investment Manager has invested in Foshan Haitian for over 5 years in a number of its other portfolios and considers that it remains a cornerstone investment for the Company. On the ESG front, the company has established strong internal controls to ensure good corporate governance. Unusually for a Chinese company, it has an internal audit team reporting directly to the board to conduct regular audits in order to assess and improve management and operational processes.
Foshan Haitian has set specific targets to reduce energy consumption and water use. The company has also been making conscious efforts to improve ESG disclosures and published its first ESG report in 2020.
Companies selected for illustrative purposes only to demonstrate the investment management style described herein and not as an investment recommendation or indication of future performance.