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Revision as of 12:41, 21 August 2020 edit Johnpacklambert (talk \| contribs) Autopatrolled, Extended confirmed users, Pending changes reviewers 602,648 edits added Category:1999 establishments in China using HotCat ← Previous edit		Latest revision as of 09:13, 11 December 2024 edit undo Smallangryplanet (talk \| contribs) Extended confirmed users 5,807 edits Actually their HQ is in Qingdao, it turns out Tag: 2017 wikitext editor
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Line 1: {{Short description\|Chinese monosodium glutamate and xanthan gum producer}} {{Infobox company \| name = Fufeng Group ~~<br /> 阜丰集团~~ \| logo = Fufeng.png \| type = [[Privately held company]] \| genre = \| foundation = {{Start date and age\|1999}} \| founder = \| location_city = [[Qingdao]], [[Shandong]]<ref>{{Cite web \|title=联系方式 - 阜丰集团 \|url=http://www.fufeng-group.com/list-41-1.html \|access-date=2024-12-11 \|website=www.fufeng-group.com}}</ref> ~~\| location_city = [[Jinan]], [[Shandong]]~~ \| location_country = [[People's Republic of China]] \| location = ~~\| origins =~~ \| key_people = [[Chairman]]: Mr. Li Xuechun \| area_served = People's Republic of China \| industry = [[monosodium glutamate]] and [[xanthan gum]] \| products = \| services = \| revenue = \| operating_income = \| net_income = \| num_employees = \| parent = \| ~~divisions~~owner = \| homepage = {{Official URL}} ~~\| subsid =~~ }}{{Infobox Chinese ~~\| owner =~~ \| t = 阜豐集團 ~~\| slogan =~~ \| s = 阜丰集团 ~~\| homepage =[http://www.fufeng-group.com/html/en/ Fufeng Group]~~ \| p = Fùfēng jítuán \| l = Rich Abundance Group }} '''Fufeng Group''' ({{hkex\|546}}) is the largest private-owned [[monosodium glutamate]] ([[flavour enhancer]]) and the second largest [[xanthan gum]] producer in [[~~Mainland~~mainland China]]. Its products include flavour enhancers, xanthan gum, [[fertilizer]], [[starch]], and [[sugar substitute]]. ~~Its~~The ~~headquarters~~company was founded in 1999 and is headquartered in [[Binzhou]], [[Shandong ~~province~~Province]], China. ~~Its~~The company's current [[CEO]] is [[Li Xuechun. Fufeng Group is one of the largest MSG producers in China and has a global presence, with operations in Asia, Europe, and the Americas. The company's products are sold under the brand name "Weifang Fufeng," and it also produces other food additives such as xanthan gum, citric acid, and sodium bicarbonate. Fufeng Group is listed on the [[Hong Kong Stock Exchange]]. == History == Fufeng was founded in 1999 and listed on the [[Hong Kong Stock Exchange]] on 8 February 2007 ~~with [[Initial Public Offering\|IPO]] price at HK$2.23 per [[share (finance)\|share]]. Its share price at the first trading day was HK$3.01, with a 35% increase compared with its IPO price~~.<ref>[http://finance.sina.com.cn/stock/t/20070209/03341208913.shtml finance.sina.com.cn] {{Webarchive\|url=https://web.archive.org/web/20110716060652/http://finance.sina.com.cn/stock/t/20070209/03341208913.shtml \|date=2011-07-16 }} {{in lang\|zh}}</ref> However, after issuing a [[profit warning]] and profit decline at the first half year in 2007 due to a rise in the price of [[maize\|corn]], its share price dropped below the IPO price ~~and currently is below HK$1~~.<ref>[http://www.mpfinance.com/htm/Finance/20070707/News/ec_eck4.htm ww.mpfinance.com] {{Webarchive\|url=https://web.archive.org/web/20070713201126/http://www.mpfinance.com/htm/Finance/20070707/News/ec_eck4.htm \|date=2007-07-13 }} {{in lang\|zh}}</ref><ref>[http://hk.jrj.com.cn/2007/08/210000399153.shtml hk.jrj.com.cn] (in Chinese)</ref> Its share price showed the poorest performance among all [[listed company\|newly listed stocks]] in 2007.<ref>[http://www.infocastfn.com/victory_portal/IpoExpress/IpoPerformance.asp www.infocastfn.com] {{~~webarchive~~Webarchive\|url=https://web.archive.org/web/~~20080115020132~~20110707020508/http://~~www~~hk.~~infocastfn~~jrj.com.cn/~~victory_portal~~2007/~~IpoExpress~~08/~~IpoPerformance~~210000399153.~~asp~~shtml \|date=~~2008~~2011-0107-1507 }} (in Chinese)</ref> ~~The market capitalization of Fufeng Group is around $5.3B HKD in Jan 2016.~~ === North Dakota plant === ~~After years of hard working and expanding, FUFENG has become the largest manufacture for MSG, Xanthan Gum, and Amino Acid.~~ In 2022, a proposed Fufeng plant in [[Grand Forks, North Dakota]] garnered opposition and legal challenges due to national security concerns. Civic groups and journalists voiced concerns about the parent company's connections with the [[Government of China\|Chinese government]], the company's labor practices in [[Xinjiang]], and the proposed plant's proximity to [[Grand Forks Air Force Base]].<ref name=":0">{{Cite news \|last=Javers \|first=Eamon \|date=2022-07-01 \|title=Chinese purchase of North Dakota farmland raises national security concerns in Washington \|url=https://www.cnbc.com/2022/07/01/chinese-purchase-of-north-dakota-farmland-raises-national-security-concerns-in-washington.html \|access-date=2022-07-01 \|website=[[CNBC]] \|language=en \|archive-date=2022-09-25 \|archive-url=https://web.archive.org/web/20220925184530/https://www.cnbc.com/2022/07/01/chinese-purchase-of-north-dakota-farmland-raises-national-security-concerns-in-washington.html \|url-status=live }}</ref><ref>{{Cite news \|date=2022-03-30 \|title=Fufeng COO: Proposed plant would have no 'direct relationship with China government' \|url=https://www.grandforksherald.com/news/local/fufeng-coo-proposed-plant-would-have-no-direct-relationship-with-china-government \|access-date=2022-06-18 \|website=Grand Forks Herald \|language=en \|archive-date=2022-04-22 \|archive-url=https://web.archive.org/web/20220422183320/https://www.grandforksherald.com/news/local/fufeng-coo-proposed-plant-would-have-no-direct-relationship-with-china-government \|url-status=live }}</ref><ref>{{Cite news \|last=Jurgens \|first=Paul \|date=June 7, 2022 \|title=Grand Forks City Council approves annexation for Fufeng plant \|url=https://kfgo.com/2022/06/07/grand-forks-city-council-approves-annexation-for-fufeng-plant/ \|access-date=2022-06-18 \|website=[[KFGO (AM)]] \|language=en \|archive-date=2022-06-07 \|archive-url=https://web.archive.org/web/20220607185433/https://kfgo.com/2022/06/07/grand-forks-city-council-approves-annexation-for-fufeng-plant/ \|url-status=live }}</ref><ref>{{Cite news \|last=Barrett \|first=Doug \|title=Judges appointed to hear Fufeng court challenge \|url=https://knoxradio.com/2022/06/13/judges-appointed-to-hear-fufeng-court-challenge/ \|access-date=2022-06-18 \|website=KNOX News Radio \|language=en \|archive-date=2022-06-20 \|archive-url=https://web.archive.org/web/20220620220113/https://knoxradio.com/2022/06/13/judges-appointed-to-hear-fufeng-court-challenge/ \|url-status=live }}</ref> Specific concern was raised about the possibility of the plant being used as a site for [[signals intelligence]] and [[electronic warfare]] against the Air Force base.<ref name=":0" /> The [[United States-China Economic and Security Review Commission]] also raised concerns about the plant and the ranking members of the [[United States Senate Select Committee on Intelligence]] voiced opposition and requested a review of the transaction by the [[Committee on Foreign Investment in the United States]] (CFIUS).<ref name=":0" /><ref>{{Cite web \|last=Meny \|first=Josh \|date=2022-07-21 \|title=Fufeng project in Grand Forks under national scrutiny \|url=https://www.kxnet.com/news/top-stories/fufeng-project-in-grand-forks-under-national-scrutiny/ \|access-date=2022-07-24 \|website=[[KX Television]] \|language=en-US \|archive-date=2022-09-25 \|archive-url=https://web.archive.org/web/20220925184531/https://www.kxnet.com/news/top-stories/fufeng-project-in-grand-forks-under-national-scrutiny/ \|url-status=live }}</ref> In September 2022, the mayor of Grand Forks paused construction of the plant.<ref>{{Cite news \|last=Turley \|first=Jeremy \|date=2022-09-01 \|title=Grand Forks to pause construction on Fufeng mill after federal panel asks for more information \|url=https://www.grandforksherald.com/news/north-dakota/grand-forks-to-halt-construction-on-fufeng-mill-after-federal-panel-asks-for-more-information \|access-date=2022-09-17 \|website=[[Grand Forks Herald]] \|language=en \|archive-date=2022-09-07 \|archive-url=https://web.archive.org/web/20220907135612/https://www.grandforksherald.com/news/north-dakota/grand-forks-to-halt-construction-on-fufeng-mill-after-federal-panel-asks-for-more-information \|url-status=live }}</ref> In response, the [[House Appropriations Committee]] subsequently enacted a ban on purchases of U.S. farmland by China and certain other nations in its 2023 funding bill.<ref>{{Cite web \|last=Zilber \|first=Ariel \|date=2022-07-01 \|title=Chinese firm bought North Dakota farm near US Air Force drone base: report \|url=https://nypost.com/2022/07/01/chinese-firm-bought-farm-near-us-air-force-drone-base-report/ \|access-date=2022-07-28 \|website=New York Post \|language=en-US \|archive-date=2022-07-27 \|archive-url=https://web.archive.org/web/20220727230959/https://nypost.com/2022/07/01/chinese-firm-bought-farm-near-us-air-force-drone-base-report/ \|url-status=live }}</ref><ref>{{Cite web \|date=2022-06-28 \|title=House committee votes to block China & others from U.S. farmland buys \|url=https://www.agdaily.com/news/update-to-bill-may-block-china-and-russia-from-farmland-purchases/ \|access-date=2022-07-28 \|website=AGDAILY \|language=en-US \|archive-date=2022-07-28 \|archive-url=https://web.archive.org/web/20220728122809/https://www.agdaily.com/news/update-to-bill-may-block-china-and-russia-from-farmland-purchases/ \|url-status=live }}</ref> In January 2023, the [[United States Air Force]] called the proposed plant a "significant threat to national security."<ref>{{Cite news \|last=Smith \|first=Mitch \|date=2023-02-01 \|title=Air Force Says Proposed Chinese-Owned Mill in North Dakota Is ‘Significant Threat’ \|language=en-US \|work=[[The New York Times]] \|url=https://www.nytimes.com/2023/01/31/us/corn-mill-fufeng-china-north-dakota.html \|access-date=2023-02-01 \|issn=0362-4331}}</ref> On February 7, 2023, officials in Grand Forks, North Dakota voted 5–0 to strike down the company's plans for a corn mill on the site. The vote allows the company to own the property but denies infrastructure and building permits at the site.<ref>{{Cite web \|last=Norman \|first=Greg \|date=2023-02-07 \|title=Chinese company's North Dakota corn mill project struck down by Grand Forks, prompting cheers of 'USA!' \|url=https://www.foxbusiness.com/economy/china-fufeng-north-dakota-corn-mill-project-halted-grand-forks-city-council \|access-date=2023-02-07 \|website=[[Fox Business]] \|language=en-US}}</ref> ==References== Line 37 ⟶ 47: ==External links== {{Portal\|Companies}} {{Official website}} [http://www.fufeng-group.com/html/en/ Fufeng Group] {{Food companies of China}} Line 46 ⟶ 56: [[Category:Companies based in Jinan]] [[Category:Chemical companies established in 1999]] [[Category:~~1999~~Chinese ~~establishments~~companies established in ~~China~~1999]] [[Category:1999 in Jinan]]