Fufeng Group (SEHK: 546) is the largest private-owned monosodium glutamate (flavour enhancer) and the second largest xanthan gum producer in Mainland China. Its products include flavour enhancers, xanthan gum, fertilizer, starch, and sugar substitute. Its headquarters are in the Shandong province. The company's current CEO is Li Xuechun.
 | |
| Company type | Privately held company |
|---|---|
| Industry | monosodium glutamate and xanthan gum |
| Founded | 1999 |
| Headquarters | , |
Area served | People's Republic of China |
Key people | Chairman: Mr. Li Xuechun |
| Website | Fufeng Group |
| Fufeng Group | |||||||
|---|---|---|---|---|---|---|---|
| Traditional Chinese | 阜豐集團 | ||||||
| Simplified Chinese | 阜丰集团 | ||||||
| Literal meaning | Rich Abundance Group | ||||||
| |||||||
Fufeng was listed on the Hong Kong Stock Exchange on 8 February 2007.[1] However, after issuing a profit warning and profit decline at the first half year in 2007 due to a rise in the price of corn, its share price dropped below the IPO price.[2][3]
In 2022, a proposed Fufeng plant in Grand Forks, North Dakota garnered opposition and legal challenges due to national security concerns about the parent company's connections with the Chinese government, the proposed plant's proximity to Grand Forks Air Force Base, and the company's labor practices in Xinjiang.[4][5][6][7] The United States-China Economic and Security Review Commission 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.[4][8]
References
- ^ finance.sina.com.cn Archived 2011-07-16 at the Wayback Machine (in Chinese)
- ^ ww.mpfinance.com Archived 2007-07-13 at the Wayback Machine (in Chinese)
- ^ hk.jrj.com.cn Archived 2011-07-07 at the Wayback Machine (in Chinese)
- ^ a b Javers, Eamon (2022-07-01). "Chinese purchase of North Dakota farmland raises national security concerns in Washington". CNBC. Retrieved 2022-07-01.
- ^ "Fufeng COO: Proposed plant would have no 'direct relationship with China government'". Grand Forks Herald. 2022-03-30. Archived from the original on 2022-04-22. Retrieved 2022-06-18.
- ^ Jurgens, Paul (June 7, 2022). "Grand Forks City Council approves annexation for Fufeng plant". KFGO (AM). Archived from the original on 2022-06-07. Retrieved 2022-06-18.
- ^ Barrett, Doug. "Judges appointed to hear Fufeng court challenge". KNOX News Radio. Archived from the original on 2022-06-20. Retrieved 2022-06-18.
- ^ Meny, Josh (2022-07-21). "Fufeng project in Grand Forks under national scrutiny". KX Television. Retrieved 2022-07-24.
