It is understood that the artificial meat product series called "Pure Farmland" is based on soy protein, including artificial meat burgers, meatballs, sausages and minced meat. This means that the artificial meat technology route used by Smithfield is plant protein meat, which is made by using plant protein raw materials, mainly soy protein, wheat protein, pea protein, etc., and adding plant hemoglobin synthesized by yeast.
Founded in 1936 in Virginia, Smithfield is the world's largest producer of pigs and a supplier of pork. In May 2013, Smithfield and Shuanghui International reached a strategic merger, Shuanghui International acquired Smithfield for a total price of $7.1 billion. In January 2014, Shuanghui International was renamed as Wanzhou International and listed on the Hong Kong Stock Exchange in August of that year. Its 2018 annual report shows that Wanzhou International achieved a revenue of US$22.6 billion and a net profit of US$943 million. According to the Fortune China Top 500 list released in July 2019, Wanzhou International ranked 66th.
Since May of this year, with the listing of Beyond Meat, the first man-made meat in the United States, the concept of "artificial meat" has been on fire. Beyond Meat soared 163% on the first day, creating the best performance of the US company's IPO on the first day since the 21st century, and at the same time drove the A-share market "artificial meat" concept stocks in mid-May. Since then, a number of A-share listed companies have indicated that they will enter the field of “artificial meat”, most of which use plant protein meat technology.
Smithfield Chief Business Officer John Paulie told the media that the company has been "watching" artificial meat for a long time, so it is not a "new player". By February 2020, Pure Farmland artificial meat products will be sold in 5000 retail supermarkets in North America.
On August 13th, Wanzhou International closed at 6.72 yuan per share, down 2.04%.