Published: JAN 06, 2020

(January 6, 2020, Xiamen, China) On January 6, Ruixing Coffee (Nasdaq: LK) and Home Appliance Group (Louis Dreyfus Company, hereinafter referred to as "Home Appliance Group") joint venture coffee roasting plant groundbreaking ceremony will be held in Xiamen. After the factory is put into production, the annual production capacity of roasted coffee beans will reach 30,000 tons.

It is understood that the project covers an area of 35,000 square meters and will adopt high-tech, equipped with first-class equipment, and use the world's leading cutting-edge technology to clean and roast coffee beans, and realize environmentally friendly production. The plant is expected to be completed and put into operation in the middle of 2021. After it is put into production, the annual production capacity of roasted coffee beans will reach 30,000 tons, and the second phase will expand to 40,000 tons of roasted coffee beans. In the future, the coffee beans produced by the joint venture coffee roasting plant will provide Ruixing Coffee with high-quality raw materials.

Established in 1851, the Home Appliances Group has been in China for more than 40 years. It has a leading agricultural product trading and processing company, has more than 30 years of experience in the coffee field, and has business networks in 12 major coffee bean production areas around the world. Luckin Coffee has reached strategic cooperation with a number of top suppliers. Its joint coffee roasting plant project is another strategic move by Luckin Coffee and Louis Dreyfus after signing an agreement in September 2019 to establish a joint venture company for fruit juice.

"The Home Appliances Group is one of the world's largest green coffee traders, with a diversified product and regional portfolio that can meet Luckin Coffee's high standards for green bean quality and flavor blending." Luckin Coffee Co-founder, Senior Vice President Guo Jinyi said that through the establishment of a joint venture with the Home Appliance Group, Luckin Coffee has also extended to upstream raw materials and production links, which is conducive to the entire process of controlling product quality and bringing users a better experience.

"We are very pleased to continue to deepen cooperation with Luckin Coffee." Michael Gelchie, Global Chief Operating Officer of Home Appliances Group, said that since its establishment, Luckin Coffee has gained a broad user base with its leading technology applications and model innovations. . Our cooperation will further promote the establishment of a more complete, transparent and sustainable supply chain, and work together to provide Chinese consumers with high-quality, convenient and cost-effective coffee.

About Louis Dreyfus

The Home Appliance Group (hereinafter referred to as the "Home Appliance Group") is the world's leading agricultural product trading and processing company. It uses its global influence and extensive asset network to provide customers and consumers around the world with safe, effective and reliable services. Supply the right product to the right place at the critical time. Our diversified business portfolio runs through the entire value chain from farm to table, involving a wide range of business platforms. Since our establishment in 1851, our business has grown gradually, covering the fields of cereals, oilseeds, rice, shipping, global markets, coffee, cotton, sugar and juice. Every year, we plant, process and transport approximately 80 million tons of agricultural products worldwide, providing food and clothing to approximately 500 million people worldwide. Louis Dreyfus has 6 business regions around the world, covering 8 business platforms, and more than 18,000 employees in more than 100 countries around the world.