Nichirei reports leak of 53,866 personal records in cyberattack
Nichirei announced on the 18th that a cyberattack it suffered in July resulted in the leak of 53,866 pieces of personal information, including data on customers, executives and employees of business partners, and group employees. The findings came from an investigation conducted in cooperation with outside experts, and the company said no secondary harm such as fraudulent use has been confirmed at this point. The breakdown includes 3,308 records for customers to whom the group provided delivery services, with names, addresses, and phone numbers leaked. In addition, leaks were confirmed for 6,849 records of executives and employees of business partners, and 43,709 records of Nichirei Group employees, their family members, and job applicants. None of the leaked data included credit card information. The company said, "We deeply apologize to all those involved for the enormous inconvenience and concern we have caused."
Nestlé Weighs 'All Options' After Russian Business Seizure
Swiss food giant Nestlé said on the 18th that after its Russian business was seized, it is considering all options to protect its rights. Nestlé stated it "will take all necessary measures to protect its rights and ensure the continuation of its business operations, in the interests of all stakeholders, especially its employees," but did not touch on what specific measures it is considering. The company has six factories in Russia, producing coffee, pet care products, and infant formula, and according to its most recently published 2021 financial results, it recorded sales of about 2 billion Swiss francs in Russia and employs about 7,000 people in the country. Nestlé justifies continuing its business in Russia on the grounds that, as a food manufacturer, it supplies daily necessities. Kepler Cheuvreux analyst Jon Cox said, "Nestlé could lose these assets, and no amount of compensation would make up for it."
Ingredion Raises Quarterly Dividend 1.2% to $0.83 per Share
Ingredion declared a quarterly dividend of $0.83 per share, a 1.2% increase from its prior dividend of $0.82. The dividend carries a forward yield of 3.35% and is payable October 20 to shareholders of record as of October 1, which is also the ex-dividend date.
KGI upgrades beverage sector to Outperform, highlights CBG, OSP and ICHI as top picks
The analyst at KGI Securities (Thailand) Public Company Limited has raised its investment rating on Thailand's beverage sector to "Outperform" from "Neutral," viewing the recent share price decline as an opportunity to re-accumulate, since pressure from higher raw material costs following the escalation of the US-Iran conflict and the third-quarter low season are only short-term factors. The sector's total profit in the second half of 2026 will grow both from the first half and from the same period a year earlier, led by CBG, while third-quarter core profit will still grow year on year on revenue growth and good cost control at OSP and ICHI, despite the weak seasonal factors and higher costs for aluminium, PET resin and gas. Every 10% increase in key raw material costs could cut 2026 profit by roughly 2-6% for every stock in the sector. Nevertheless, fourth-quarter profit should re-accelerate from the previous quarter and from a year earlier, driven by lower raw material costs and better festive-season demand, before margins recover and return closer to normal in the first half of 2027. CBG is the top pick for the fourth quarter, followed by OSP and ICHI, in that order.
KCG first-half profit 276.8 million baht, up 25.2%
KCG Corporation, or KCG, announced its first-half 2026 operating results with a net profit of 276.8 million baht, up 25.2%, driven by efficient management of production costs and expenses despite challenging macroeconomic factors. Chief Executive Officer Dumrongchai Wipawattanakul expressed confidence that profit will continue to grow in the second half. Meanwhile, Sermsang Power Corporation, or SSP, reported a net profit attributable to shareholders of 325.1 million baht and electricity sales revenue of 1,572.1 million baht, following revenue recognition from the Leo 2 solar farm and increased power generation from SPN's repowering. Warut Thammawaranukup noted that business trends in the second half will grow prominently, with plans to sell power from two community waste-to-energy plants by year-end, and expressed confidence that power generation volume will more than double by 2028. Separately, Demco, or DEMCO, reported a first-half 2026 net profit of 30.2 million baht, up 519.4% from the same period last year. Chief Executive Officer Nattapong Korom said the current backlog stands at 2,699 million baht, to be gradually recognized as revenue within 2028, while the company pursues new business investment opportunities. Northeast Rubber, or NER, received an AGM Checklist assessment for 2026 at the excellent level of a full 100 points for the third consecutive year, and Starflex, or SFLEX, received an AGM Checklist score for 2026 in the 90–99 range, or the 4 gold-star level.
Generac Soars 19% on $2.4 Billion Amazon Data Center Generator Deal
Generac struck a deal with Amazon to supply backup power generators for its data centers, with initial deliveries expected to total $2.4 billion between 2027 and 2028, and also granted Amazon the right to buy up to $340 million worth of its stock. Generac shares soared 19% on the news, while Amazon's stock moved 1.3% higher. Fluence Energy shares tumbled 14% after the battery storage maker cut its full-year guidance, now expecting $2.4 billion in revenue for 2026 versus its prior guidance of $2.9 billion to $3.1 billion, and anticipating a loss of $200 million before interest, taxes, depreciation and amortization, more than its previous guidance range of $30 million loss to $10 million EBITDA. Workday rose 5% after CNBC's David Faber reported that efforts to gain financing for a bid to take the cloud-based human resources software platform private are continuing, citing unidentified sources. Tower Semiconductor rose almost 9% after agreeing with privately-held New Photonics to a high-volume shipment of laser-integrated optical engines designed to meet growing demand for high-bandwidth, energy-efficient optical interconnects in AI infrastructure, and Vital Farms climbed 9% after Axios said the Austin, Texas-based pasture-raised egg and butter producer is exploring strategic alternatives, including privatization.
LT Foods to buy Kameda Seika's 49% stake in rice-snacks JV
India's LT Foods is acquiring the remaining 49% stake in its rice-snacks joint venture with Japan's Kameda Seika. In a stock-exchange filing yesterday, LT Foods said it had struck a deal with Kameda Seika to buy its entire holding in Kameda LT Foods (India) Private Limited for Rs11.2m, or $117,026. The purchase lifts LT Foods' stake in the venture from 51% to 100%, making the business a wholly owned subsidiary, with the transaction expected to close by 31 December subject to legal requirements and other customary regulatory filings. Kameda Seika said in a separate disclosure in Japan that after restructuring its North American business and weighing the future of its overseas operations, it determined the share transfer would contribute to the growth of the joint venture and to its medium- to long-term growth strategy. The partners set up the venture in 2017 to manufacture and market rice snacks in India, including Kaki Kari, Krispy Hopu and Okaki; LT Foods said the JV posted turnover of Rs140.3m in the year ended 31 March, against Rs143.2m in 2025 and Rs73.6m in 2024, while Kameda Seika's filing showed net sales of Rs141m and a net loss of Rs121.1m for the same year.
WINNER appoints Kanlallus as CEO, succeeding Kanokporn, effective 1 October 2026
Winner Group Enterprise Public Company Limited, or WINNER, disclosed that the company has acknowledged the resignation of Ms. Kanokporn Kriangkraikritsada from the position of Chief Executive Officer, or CEO, effective from 1 October 2026 onwards. Ms. Kanokporn will continue to serve as a company director, an executive director, and a risk management committee member. At the same time, the company's board of directors passed a resolution approving the appointment of Ms. Kanlallus Wongisariyakul as Chief Executive Officer, or CEO, replacing Ms. Kanokporn, also effective from 1 October 2026. Ms. Kanlallus will continue to serve as a company director, an executive director, and a risk management committee member, but will step down from the positions of Managing Director, or MD, and Chief Financial and Accounting Officer, or CFO, effective on the same day.
TKN approves share buyback of 17 million shares worth 80 million baht
The board of directors of Taokaenoi Food & Marketing Public Company Limited, or TKN, has approved a share buyback programme for financial management of no more than 17 million shares, representing approximately 1.23% of the total issued and paid-up shares, under a budget of no more than 80 million baht. The buyback period is set from 22 September 2026 to 21 March 2027. Combined with the existing 15 million repurchased shares, the company will hold a maximum of 32 million treasury shares, or approximately 2.32% of all shares. The research department of Kasikorn Securities Public Company Limited, or KS, holds a slightly positive view on the matter in terms of investment sentiment, and estimates that if the company can complete the full buyback, it would boost earnings per share, or EPS, by approximately 1.3%. On the dividend outlook, KS believes TKN still has the accounting capacity to maintain its payout ratio near its previous level of approximately 90%, as the company has retained earnings in its separate financial statements of 674 million baht. After deducting interim dividends of 191 million baht and the 80 million baht buyback budget, approximately 403 million baht in retained earnings would remain, before including profit expected in the second half of 2026. However, the research department notes that liquidity remains a factor requiring close monitoring, since at the end of June the company had cash of approximately 191 million baht, a level close to the dividends already paid, while operating cash flow in the first half of 2026 was negative due to an increase in inventory. Therefore, the ability to maintain dividend levels near the previous rate going forward will depend mainly on the recovery of operating cash flow and the ability to clear inventory in the second half of 2026.
Nestlé signs memorandum of understanding to buy robusta coffee beans from Thai farmers for the 2026/2027 production season
Nestlé (Thai) Co., Ltd. has announced it will continue purchasing coffee beans from farmers in Thailand. Most recently, it signed a memorandum of understanding to buy robusta coffee beans directly from Thai farmers in the 2026/2027 production season, alongside transferring knowledge and promoting regenerative agricultural practices to raise production efficiency in both quality and output volume. Ms. Salinla Siihaphan, Executive Director of Corporate Affairs and Sustainability at Nestlé (Thai) Co., Ltd., said that this year's collaboration with coffee farmers in the southern region goes beyond the direct purchase of produce that has continued for several decades; it is a long-term joint effort to help farmers develop their potential and adapt to climate challenges. Mr. Thierachai Chukittiwibul, Governor of Chumphon Province, said that Chumphon gives importance to robusta coffee as a key economic crop and is pleased to continue its cooperation with Nestlé in supporting farmers in the area. In addition, Nestlé also held a NESCAFÉ Farmer Day event to pass on coffee cultivation techniques as well as regenerative agriculture to more than 300 farmers from various provinces in the southern region.
Taokaenoi launches CEO KIM brand to tap premium seaweed market with four flavors
Taokaenoi Food & Marketing, or TKN, has launched a new brand, CEO KIM (by TAOKAENOI), to move into the premium seaweed market. Orrapat Peeradechaphan, Chief Executive Officer of TKN, said the company sees an opportunity in the behavior of modern consumers who prioritize quality and are willing to pay more for superior products, and is therefore expanding its portfolio into the premium seaweed segment. The product's key selling point is the selection of high-quality seaweed harvested early in the season, the first harvest lot of each year, which gives it a particularly firm and crispy texture along with a natural umami flavor. CEO KIM (by TAOKAENOI) products come in four varieties: fried seaweed with Hokkaido corn soup flavor, fried seaweed with yuzu flavor, roasted seaweed with classic Japanese sauce, and roasted seaweed with Japanese yuzu sauce. The two fried seaweed flavors are fried in healthy rice bran oil and contain no added MSG. The company expects the new brand to be well received and to become a Product Hero in the premium seaweed category, helping expand its customer base and create new business opportunities, as well as laying the foundation for future overseas market expansion. The products will go on sale from mid-September at 7-Eleven and leading stores nationwide, along with upcoming activities with KOLs and influencers.
TU shares surge 7% as weak baht boosts exports; Bualuang says 2027 is the profit turning point
TU shares rose 7.26% to 13.30 baht, leading subsidiary ITC up 6.67% to 17.60 baht, supported by the baht weakening to 33.38-33.40 baht per US dollar and the onset of the export peak season. Meanwhile, Pi Securities is positive on Britain's move to cut import tariffs on Thai tuna to 0% from 24%, which should support revenue in the second half. Bualuang Securities said TU is entering a new profit cycle after its transition period begins to end, seeing 2027 as the turning point for profits, and raised its 2030 profit forecast by 30%, from 6.1 billion baht to 7.9 billion baht in an upside case, bringing ROE close to 15%, while maintaining a target price of 15.60 baht. The view aligns with TU's Investor Day in August 2026, led by Group Chief Executive Officer Thiraphong Chansiri and new Group Chief Financial Officer Ratiporn Ratcharoen, which indicated that TU is shifting from restructuring to harvesting benefits, with three main strategies over the next three years: expanding revenue, improving cost efficiency, and managing capital expenditure and cash flow cycles with greater discipline.
TU shares surge 5.65% on UK tariff cut for Thai tuna to 0%
Shares of Thai Union Group, or TU, rose 5.65% to 13.10 baht, up 0.70 baht, with trading value of 217.61 million baht, from an opening price of 13.00 baht, a high of 13.30 baht and a low of 12.90 baht. Pi Securities said TU has several positive factors in the second half, expecting it to enter its export peak season, and it also benefits from the weaker baht and from the United Kingdom cutting its import tariff on Thai tuna to 0% from 24%, which will support revenue growth in the second half. Meanwhile, Yuan Ta Securities views TU's rise after a long consolidation as turning the stock's price trend back to sideways-up, after the price climbed to test the upper range near 13.20 baht.
KKPS upgrades ITC to Buy with 18.70 baht target, shares jump 6%
Shares of i-Tail Corporation Public Company Limited, or ITC, stood at 17.50 baht, up 1.00 baht or 6.06%, on trading value of 169.30 million baht, after Kiatnakin Phatra Securities Public Company Limited, or KKPS, raised its recommendation on ITC to Buy from Underperform and lifted its target price to 18.70 baht from 14.70 baht, saying the previous pressures are beginning to ease, including the profit outlook, gross margin and dividend payments. The research team said the earlier concerns centered on two issues: the outlook for gross margin and profit from premium product lines, and a dividend payout ratio that could come in below expectations. Both factors are now showing improvement. For its second-quarter 2569 results, ITC posted an adjusted gross margin of 24.0%, above the expected 23.2%, while pet food exports to the United States grew faster than expected on higher average selling prices, particularly in the cat food segment. KKPS therefore raised its gross margin forecasts for ITC in 2569 to 2571 by an average of 0.6 percentage points and lifted its normal profit forecasts for the same period by 5.8%. On dividends, KKPS had previously expected ITC to pay out about 70%, but ITC paid a dividend for the first six months of 2569 of 0.55 baht per share, a payout ratio of about 95%. The research team thus raised its dividend payout forecasts for ITC in 2569 to 2571 to an average of 85% from 70%. ITC shares trade at a 2569 P/E of about 15 times, below the average of 29.4 times for OEM pet food producers in China. Return on equity for 2569 is expected at 13.8%, above the group average of 8.6%, while return on assets for 2569 is expected at 12.2%, above the group average of 5.4%. Earnings per share for ITC in 2569 are expected to grow 12%.
TKN approves 17 million share buyback worth 80 million baht, starting September 22
The board of directors of Taokaenoi Food & Marketing, or TKN, has approved a share buyback program for financial management of 17 million shares, representing 1.23% of total capital, with a total budget of 80 million baht. The company will buy back shares on the stock exchange from September 22, 2026 to March 21, 2027. News of the buyback program boosted the share price this morning, September 17, 2026, rising to a high of 4.26 baht before trading around 4.22 baht, up 0.08 baht, or 1.93%, as of approximately 10:45 a.m.
KKPS upgrades TU to "Buy" with 16 baht target, expects EPS to grow an average 18% per year
Kiatnakin Phatra Securities, or KKPS, has raised its recommendation on Thai Union Group, or TU, from "Hold" to "Buy" and lifted its target price from 13.30 baht to 16.00 baht, saying the current share price of 12.40 baht still offers attractive upside. Today at 10:14 a.m., TU shares stood at 13.10 baht, up 0.70 baht, or 5.65%, with a high of 13.30 baht and a low of 12.90 baht on turnover of 214.97 million baht. The research team sees two key points in the investment case for TU: the core business excluding ITC is undervalued relative to the value of its stake in i-Tail Corporation, or ITC, and the core business looks set to shift from a drag on earnings to a driver of growth going forward. TU holds a 79.3% stake in ITC. After deducting the value of the ITC shares TU holds from TU's total market value, the core business excluding ITC is left with a value of roughly 7.0 billion baht, equivalent to a P/E of just 3.5 times for 2026, even though that business generates 42% of total profit in 2025 and is expected to rise to 47% in 2028. The research team expects the net margin of the ex-ITC business to rise from 1.7% in 2026 to 2.3% in 2028, supporting earnings per share growth averaging 18% a year over the next three years. KKPS also expects TU's ROA to rise from 2.6% in 2025 to 3.7% in 2028, and has raised its normalized earnings forecasts for 2026 to 2028 by an average of 16%. On dividends, it estimates TU will offer a dividend yield of 5.9% in 2026 and 6.7% in 2027, while its P/E estimate falls from 10.02 times in 2026 to 7.73 times in 2028. KKPS also issued a research report on ITC in parallel and raised its recommendation to "Buy" as well, as the two companies are linked through their shareholding structure and operating results.
TKN approves buyback of 17 million shares worth 80 million baht, starting September 22
Taokaenoi, or TKN, has approved a share buyback programme worth up to 80 million baht, for a maximum of 17 million shares, representing no more than 1.23% of total issued and paid-up shares. Buying will begin on September 22, 2026 and run through March 21, 2027, via the automatic matching system of the Stock Exchange of Thailand. Jirapong Suntipiromkul, Deputy Managing Director of Taokaenoi Food & Marketing Public Company Limited, said the board meeting No. 6/2026 on September 16, 2026 approved the programme, setting the buyback price at no more than 115% of the average closing price over the five trading days preceding each buyback. The 30-day weighted average closing price from August 4 to September 15, 2026 stood at 4.28 baht per share. The company cited the need to build confidence in its financial position, profitability and business potential, as well as to improve shareholder returns through capital structure management, which may help raise return on equity and earnings per share. TKN previously carried out a buyback in 2025 for 15 million shares, or 1.09% of total issued and paid-up shares, spending a total of 127.30 million baht and completing the purchases on January 24, 2025. If the new programme buys the full 17 million shares, the company will hold cumulative treasury shares of no more than 32 million shares, or 2.32% of total issued and paid-up shares.
Finansia Syrus Securities Public Company Limited, or FSS, has maintained its buy recommendation on GFPT Public Company Limited, or GFPT, and raised its 2027 target price to 13 baht per share, citing an earnings recovery driven by higher chicken prices and export growth expected to return in 2027. FSS has revised up its GFPT profit forecasts for 2026-2027 by 13-15%. In addition, capacity expansion and an expected share of profit from GFN and McKey of approximately 600-800 million baht per year will support long-term growth. GFPT is still trading at a 2026 P/E of around 5.7 times, which is considered an inexpensive valuation. Key risks to monitor include competition from Chinese operators and volatility in animal feed costs.
TKN approves share buyback of 17 million shares worth 80 million baht, starting 22 September 2026
Taokaenoi Food & Marketing Public Company Limited, or TKN, has informed the Stock Exchange of Thailand that its Board of Directors, at its 6/2026 meeting held on 16 September 2026, approved a share buyback programme for financial management purposes with a maximum value of no more than 80 million baht and a maximum number of shares to be repurchased of no more than 17,000,000 shares, representing no more than 1.23% of total issued and paid-up shares. The buyback will be conducted through automatic matching in the trading system of the Stock Exchange of Thailand, with the period set from 22 September 2026 to 21 March 2027. The company stated that it previously carried out its first share buyback programme in 2025, between 13 January 2025 and 11 July 2025, representing 1.09% of total issued and paid-up shares. If it repurchases the full maximum of 17,000,000 shares under this programme, the company will hold no more than 32,000,000 treasury shares in total, or 2.32% of total issued and paid-up shares, which remains within the prescribed criteria. The company will refrain from buying back shares during the 30 days before and within 48 hours after the disclosure of information that may affect the rights or benefits of securities holders, investment decisions, or changes in securities prices, and will comply with the guidelines and requirements of the Stock Exchange of Thailand in a transparent manner.
TKN approves share buyback of up to 80 million baht, starting September 22, 2026
The board of directors of Taokaenoi Food & Marketing Public Company Limited, or TKN, has approved a share buyback program for financial management purposes with a maximum budget of 80 million baht, covering no more than 17 million shares, or 1.23% of total issued and paid-up shares. The buyback will take place on the stock exchange from September 22, 2026 to March 21, 2027. Previously, the company carried out its first buyback program in 2025, from January 13, 2025 to July 11, 2025, with a size equal to 1.09% of total issued and paid-up shares. If the company repurchases the full maximum of 17 million shares under this program, its total treasury shares will not exceed 32 million shares, or 2.32%, which is within the 20% limit of total issued and paid-up shares. The company will refrain from buying back shares during the 30 days before and within 48 hours after the disclosure of information that may affect the rights or benefits of securities holders or their investment decisions.
TKN approves share buyback worth 80 million baht, no more than 17 million shares
Taokaenoi Food & Marketing Public Company Limited, or TKN, announced that its board of directors meeting approved a share buyback program for financial management, with a maximum budget of no more than 80 million baht and a maximum of 17 million shares, or 1.23% of total issued and paid-up shares. The company will buy back shares through the Stock Exchange of Thailand's Automatic Order Matching system from September 22, 2026 to March 21, 2027. If it purchases the full amount, the company will hold treasury shares totaling no more than 32 million shares, or 2.32% of total issued and paid-up shares, which includes the first program in 2025 that already bought back 1.09%.
TKN approves share buyback of 17 million shares worth 80 million baht, starting 22 September 2026
Taokaenoi Food & Marketing Public Company Limited, or TKN, informed the Stock Exchange of Thailand that its Board of Directors meeting No. 6/2569 on 16 September 2026 resolved to approve a share buyback programme for financial management with a maximum value of not more than 80 million baht. The number of shares to be repurchased is not more than 17 million shares, representing not more than 1.23 percent of all issued and paid-up shares. The purchases will be made through automatic matching via the exchange's trading system, with the period set from 22 September 2026 to 21 March 2027. Mr. Jirapong Santiphiromkul, Deputy Managing Director, stated that the company previously carried out its first share buyback programme in 2025, between 13 January and 11 July 2025, representing 1.09 percent of all issued and paid-up shares. If the full maximum of 17,000,000 shares is repurchased under this programme, the company will hold treasury shares totalling not more than 32,000,000 shares, or 2.32 percent, which does not exceed 20 percent of all issued and paid-up shares. The company will refrain from buying back shares during the 30 days before and within 48 hours after the disclosure of information that may affect the rights or benefits of securities holders or their investment decisions.
TKN approves share buyback of 17 million shares, worth 80 million baht
Taokaenoi Food & Marketing, or TKN, announced that its board of directors, at its sixth meeting of 2026 held on September 16, 2026, approved a share buyback program for financial management purposes with a budget of no more than 80 million baht. The company will buy back no more than 17 million shares, representing no more than 1.23% of all issued shares. The buyback program will run from September 22, 2026 to March 21, 2027.
SUN launches Sun Pack project to package sweet corn in paper boxes, production to begin this November
Sunsweet Public Company Limited, or SUN, is preparing to begin testing the systems and machinery of its Sun Pack project, a project to install machinery for packaging sweet corn in paper box packaging, in October 2026. The machinery has already been moved into the factory area and is currently being installed. Production is expected to begin in November 2026, before entering the process of obtaining various standards certifications. As Weera Noppawatanakorn, Director of the Accounting and Finance Department, told Than Hoon, the company expects to begin commercial sales and deliver products to customers at the earliest by the end of 2026, or at the latest in early 2027, and will begin recognizing revenue from the project from early next year onward. Some orders have already begun to come in, and the company has started ordering production of boxes according to the specified design. If the market responds well, it may consider investing in a second set of machinery in the future. The installation of the new machinery does not significantly affect the overall capacity utilization rate. Currently, SUN has total production capacity of approximately 300,000 tons per year and a capacity utilization rate of approximately 50%. Meanwhile, in mid-October, which coincides with the vegetarian festival, the company expects demand for its products to increase from normal levels, since its main products are plant-based products that appeal to vegetarian food consumers. At the same time, the company is maintaining its revenue growth target for 2026 at approximately 10-15%, supported by the weakening of the baht, which helps increase its export competitiveness.
RBF confident of continued growth in the second half of 2026, driving overseas markets with 150 million baht investment in a Chinese factory
R and B Food Supply Public Company Limited, or RBF, expects its operating results in the second half of 2026 to continue growing from the same period last year, driven mainly by outstanding growth in overseas markets across Vietnam, Indonesia, and India, which has steadily expanded the share of revenue coming from abroad. Dr. Somchai Rattanapumphinyo, Chief Executive Officer, said the company is focusing on its core product groups with high potential and strong profitability, particularly the Flavour and Food Coating segments, while strengthening its position in Indonesia and India to reach customers more comprehensively. Company director Lt. Col. Dr. Janjida Rattanapumphinyo discussed the plan to expand production in China, saying the company is investing 150 million baht to build a factory and install machinery for producing breadcrumbs and premixes in the Food Coating group. Construction is expected to be completed around the end of 2026, followed by trial runs and applications for permits from the Chinese government, so that commercial operations can begin in 2027. Meanwhile, the Indonesian factory is preparing space to meet rising demand, and the Vietnamese factory has adjusted its production plan to support exports to the Cambodian market, helping raise capacity utilization more efficiently. The company is confident that its overall business performance in 2026 will grow better than in 2025, supported by orders both at home and abroad.
Seamild Foods' 'Seamild Shiyang' Trademark Rejected Again, Hindering Brand Rights for Its Second Growth Curve
Seamild Foods' application to register the 'Seamild Shiyang' trademark has been rejected again. The China National Intellectual Property Administration issued a rejection notice on September 8, and trademark number 92741690 for 'Seamild Shiyang' in international class 30, featuring a seal-carved framed artistic graphic style, failed to pass. Previously, from January to April 2026, nine word-mark applications for 'Seamild Shiyang' were all rejected after review of the rejection. The review authority determined that the trademark contains the characters 'Shiyang', meaning food-based nourishment, and when used on grain and food products, it could easily mislead the public about the function and purpose of the goods. This constitutes a deceptive situation under item 7 of the first paragraph of Article 10 of the Trademark Law of the People's Republic of China, and this clause is an absolute prohibition that cannot be overcome through use to obtain registration. On July 2, the company changed its strategy, adjusting the trademark from a pure word mark to a seal-carved framed artistic graphic style and reapplying, which was seen as a key move to bypass the prohibition on 'Shiyang'. However, the rejection notice on September 8 gave a negative answer. At the company level, the nourishing powder has been clearly defined as a purely incremental addition and the second growth curve. The investor relations activity record disclosed on July 21 shows that the related online business uses 'Seamild Shiyang' as an independent brand with a dedicated team and store matrix, and the company plans to expand the nourishing powder series to nationwide offline channels and expand SKUs in 2026. The record disclosed on August 21 shows that in the first half of the year, nourishing powder sales came mainly from some offline channels, and online promotion will begin in the second half. In an email reply to reporters, the company said that the trademark registration application for 'Seamild Shiyang' has been resubmitted and is currently in the normal examination process, and this matter will not affect the product promotion or daily operations of the company's nourishing powder segment.
Jinjian Rice Industry hits nine daily limit-ups in a month; Ministry of Agriculture and Rural Affairs issues 15th Five-Year Plan for crop farming
On September 17, the A-share grain sector rose again, with Jinjian Rice Industry surging to its daily limit-up and its latest market value exceeding 8.3 billion yuan. In the most recent month since August 17, Jinjian Rice Industry has recorded nine limit-ups in total, with its share price climbing from around 6 yuan per share to a stage high of 15.07 yuan per share, and the latest share price at 13.02 yuan per share. On the same day, stocks such as Dunhuang Seed, Wanxiang Doneed, Shennong Seed, Qiule Seed, and Kangnong Seed also hit limit-ups or rose sharply. In terms of news, the Ministry of Agriculture and Rural Affairs recently issued the National Crop Farming Development 15th Five-Year Plan, proposing that by 2030 China's comprehensive grain production capacity will reach about 1.45 trillion jin, firmly safeguarding the bottom line of basic self-sufficiency in grain and absolute security of staple food, and making arrangements around improving grain production capacity, consolidating soybean and oilseed production, stabilizing cotton and sugar production, and enriching the "vegetable basket" product supply. Jinjian Rice Industry stated in its investor relations activity record disclosed on September 2 that in 2025 the company completed the rotation task of reserve grain with high quality at 22,500 tonnes. As of the end of 2025, its rice processing capacity including commissioned production was 228,000 tonnes, flour product processing capacity was 121,000 tonnes, and edible vegetable oil processing capacity including commissioned production was 212,000 tonnes. It also said that current inventories of grain and oil, dairy products, and snack foods are within a reasonable range, and as of the end of June 2026, inventories of major finished products had all declined compared with the beginning of the year.
Vital Farms shares jump on report of strategic review including possible sale
Vital Farms is reviewing strategic alternatives, including a possible sale, according to an Axios Pro report on Wednesday. Shares of the egg producer rose 8.5% in after-hours trading following the report. Vital Farms has a market cap of $430 million, and its shares have dropped 55% since going public in July 2020. The stock carries a short interest of 22%.
Key Coffee Q1 Operating Profit Jumps 95.3%, Reaching 86.8% of Full-Year Plan
In its first-quarter results for the fiscal year ending March 2027, announced on July 31, 2026, Key Coffee reported operating profit of 781 million yen, up 95.3% from 400 million yen a year earlier. Net sales rose 16.7% year on year to 24.118 billion yen, ordinary profit climbed 83.2% to 928 million yen, and quarterly net profit increased 95.2% to 627 million yen. With green coffee bean prices continuing to surge, the profit gain was supported by passing on costs through price revisions in both the commercial and household markets, as well as by expanded sales of high-value-added products and the launch of the new strategic KEY DOORS+ JET BREW series, which improved the product mix. The operating margin of the coffee-related business rose from 1.96% a year earlier to 3.51%. The company's full-year forecast calls for sales of 95 billion yen and operating profit of 900 million yen, a plan of higher revenue but lower profit, yet the first quarter alone has already reached 86.8% of that target. Separately, the shareholder benefit program with a record date of September 30 applies to shareholders holding 100 shares or more, with the last day to buy for eligibility on September 28 and the ex-rights date on September 29.
UK watchdog opens Phase 1 probe into Unilever-McCormick $44.8bn deal
The UK's Competition and Markets Authority has launched a Phase 1 investigation into McCormick & Co.'s $44.8bn acquisition of Unilever's food assets, assessing the deal's potential impact on competition in the UK. The transaction, announced in March, would see the US-headquartered seasonings and spices business take over most of the FMCG giant's food assets, including the Knorr soups and Hellmann's mayonnaise brands, but not Lipton drinks nor Unilever's operations in India, Nepal and Portugal. The CMA said it invited comments on 21 July, with interested parties given until 5 August to respond, and has set a deadline of 11 November to complete the Phase 1 probe, when it will decide whether to follow up with a more in-depth Phase 2 assessment. Last month, Unilever and McCormick decided to seek a buyer for Unilever's Colman's mustard brand, a move Unilever said was made to proactively address potential competition concerns; Colman's joins Unilever's lifestyle nutrition business, the Buavita unit, the Lipton brand and the India, Nepal and Portugal assets that are not included in the deal. Under the terms of the transaction, Unilever and its investors are to receive a mix of McCormick's existing voting and non-voting common stock equating to 65% of the combined business, with Unilever shareholders expected to own 55.1% of the enlarged group, McCormick shareholders 35% and Unilever 9.9%, alongside $15.7bn in cash subject to certain closing adjustments. The combined company, which will include McCormick brands such as Schwartz spices, French's mustard and Cholula hot sauces, will be led by McCormick CEO Brendan Foley and CFO Marcos Gabriel, with senior management representation from Unilever's food business.
Ispire Technology Q4 Revenue Rises 33% to $26.7 Million as Malaysia Production Begins
Ispire Technology reported quarterly revenue of $26.7 million for the quarter ended June 30, 2026, up 33% from $20.1 million a year earlier and 43% from $18.7 million in the prior quarter, though the company still posted a $13.8 million net loss. Gross profit was $1.7 million at a 6.3% margin, down from $2.5 million and 12.3% a year earlier, a decline Chief Financial Officer Jay Yu attributed to an inventory impairment recognized during the quarter. Operating expenses excluding credit losses fell 28.6% to $6 million, while credit losses of $9.2 million were down about 6.2% year over year, and adjusted EBITDA loss improved to $2.3 million from $4.4 million. For the full fiscal year, revenue fell to $96 million from $127.5 million, gross margin declined to 12.8% from 17.8%, and net loss improved to $33.2 million from $39.2 million, with cash ending the year at $19.3 million. President Steven Przybyla called the period an important inflection point and said Malaysia is central to fiscal 2027, with the company holding nicotine manufacturing licenses for vapor products and nicotine pouches and expecting its first full fiscal year of production at company-owned Malaysian facilities, where a second factory can accommodate up to 73 production lines. Ispire also said it is pursuing commercialization of its IKE age-gating and product-authentication platform, including potential pilots with authorized nicotine-device companies, and sees a possible liquidity event involving IKE during fiscal 2027, while cautioning that planned payments for the Malaysia facility could delay cash-flow positivity.
Ispire Technology Posts Q4 GAAP Loss of $0.24 Per Share, Revenue Up 32.8% to $26.7M
Ispire Technology reported a fourth-quarter GAAP loss of $0.24 per share on revenue of $26.7 million, a 32.8% increase year over year. The results were disclosed in the company's press release covering its fourth-quarter and fiscal-year 2026 financial results. Ispire Technology trades under the ticker ISPR.
Haitian Flavouring and Food Acquires Amoy Food from Trustar Capital
Foshan Haitian Flavouring and Food Company has acquired Hong Kong-based Amoy Food from private-equity group Trustar Capital, with financial terms of the deal undisclosed. Trustar confirmed it sold its entire equity interest in Amoy Food to Haitian, which holds dual listings in Shanghai and Hong Kong. Founded in 1908, Amoy makes soy sauce, oyster sauce, seasoning sauces and frozen dim sum, and distributes in more than 40 countries including the US, the UK, Canada, Australia and Japan. Trustar had acquired Amoy's global business in 2019 from Ajinomoto, and reports that the private-equity firm was looking to sell the asset emerged in 2023. Following the acquisition, Haitian and Amoy Food plan to integrate their distribution channels, production networks and supply chains to capture new opportunities for long-term growth and sustainable development. In the first six months of the year, Haitian posted total revenue of 16.15bn yuan, a near-6% increase from 15.23bn yuan a year earlier, while net profit attributable to shareholders of the parent company rose 7.2% to Y4.19bn.
CPF sets up Kraya Food subsidiary in Cambodia with 200 million riel capital
Charoen Pokphand Foods Public Company Limited, or CPF, informed the Stock Exchange of Thailand that it has established a new subsidiary in Cambodia to engage in the food products trading business. The new company is named Kraya Food Co., Ltd. with registered capital of 200 million Cambodian riel, or approximately 1.64 million baht. C.P. Cambodia Co., Ltd., a subsidiary of CPF, holds 100% of the shares. The funding for the establishment of this subsidiary came from the cash flow of C.P. Cambodia Co., Ltd., and the purpose of the establishment is to conduct the food products trading business in Cambodia.
CPF sets up new subsidiary in Cambodia, Kraya Food, with 1.64 million baht in capital
Charoen Pokphand Foods Public Company Limited, or CPF, announced that it has established a new subsidiary in Cambodia to engage in the food products trading business under the name Kraya Food Co., Ltd. This subsidiary has registered capital of 200 million Cambodian riel, or approximately 1.64 million baht. As for the shareholding structure, C.P. Cambodia Co., Ltd, or CPC, holds a 100 percent stake.
CPF sets up new subsidiary in Cambodia to expand food business
Charoen Pokphand Foods Public Company Limited, or CPF, informed the Stock Exchange of Thailand that the company has established a new subsidiary in Cambodia to operate a food products trading business under the name Kraya Food Co., Ltd. The company has a registered capital of 200 million Cambodian riel, or approximately 1.64 million baht, with C.P. Cambodia Co., Ltd., or CPC, holding 100% of the shares and using CPC's cash flow as the funding source for the establishment of the company. This establishment of the subsidiary is an expansion of CPF's food products trading business in Cambodia to support the growth of its business in overseas markets.
RBF confident of a strong second half, invests 150 million baht to build China plant, targeting commercial operation in 2027
R&B Food Supply Public Company Limited, or RBF, told a securities analyst meeting that its second-half 2026 earnings are expected to improve from the same period a year earlier, driven by outstanding growth in overseas markets including Vietnam, Indonesia and India, which is steadily expanding the share of revenue from abroad. Chief Executive Officer Dr. Somchai Ratanapoompinyo said the company is focusing on high-potential, highly profitable product groups, especially Flavour and Food Coating, while strengthening its position in Indonesia and India. Company director Lt. Col. Dr. Janjida Ratanapoompinyo discussed the plan to expand production in China, saying the company is investing 150 million baht to build a factory and install machinery to produce breadcrumbs and premixes in the Food Coating group. Construction is expected to be completed around the end of 2026, followed by trial runs and applications for permits from the Chinese government, so that commercial operations can begin in 2027. Meanwhile, the Indonesian plant is preparing space to meet growing demand, and the Vietnamese plant has adjusted its production plan to support exports to the Cambodian market, helping to raise capacity utilisation efficiency. The company is confident that its overall business performance in 2026 will grow better than in 2025, supported by orders both at home and abroad.
RBF Confident Second Half of 2026 Will Improve, Boosting Overseas Sales Growth, Set to Open China Plant in 2027
R and B Food Supply Public Company Limited, or RBF, disclosed at a securities analyst meeting that its operating results in the second half of 2026 are expected to improve compared with the same period last year, driven by outstanding growth in overseas markets including Vietnam, Indonesia, and India, resulting in a continuously expanding share of revenue from abroad. Dr. Somchai Rattanapoompinyo, Chief Executive Officer, stated that the company is focusing on high-potential, profitable product groups, especially Flavour and Food Coating, while strengthening its position in Indonesia and India. Meanwhile, Lt. Col. Dr. Janjida Rattanapoompinyo, a company director, spoke about the plan to expand production in China, saying the company is investing 150 million baht to build a factory and install machinery for producing breadcrumbs and premixes in the Food Coating group. Construction is expected to be completed around the end of 2026, before trial runs and applying for a license from the Chinese government, with commercial operations set to begin in 2027. The Indonesia plant is meanwhile preparing space to accommodate growing demand, and the Vietnam plant has adjusted its production plan to support exports to the Cambodian market, helping to raise capacity utilization more efficiently. The company is confident that its overall business performance in 2026 will grow better than in 2025, supported by orders both domestically and overseas.
RBF confident of continued growth in the second half of 2026, pushing expansion into Indonesia and India
R&B Food Supply Public Company Limited, or RBF, says its performance in the second half of 2026 is expected to improve compared with the same period a year earlier, driven mainly by overseas markets including Vietnam, Indonesia and India, which are steadily raising the share of revenue coming from abroad. Chief Executive Officer Dr. Somchai Ratanapoompinyo said the company is focusing on core product groups with high potential and strong profitability, particularly Flavour and Food Coating, while strengthening its position in Indonesia and India to reach customers more comprehensively. Company director Lt. Col. Dr. Janjida Ratanapoompinyo discussed plans to expand production in China, saying the company is investing 150 million baht to build a factory and install machinery for producing breadcrumbs and premixes in the Food Coating group. Construction is expected to be completed around the end of 2026, followed by trial runs and applications for permits from the Chinese government, with commercial operations due to begin in 2027. Meanwhile, the plant in Indonesia is preparing space to meet rising demand, and the Vietnam factory has adjusted its production plan to support exports to the Cambodian market, helping to raise capacity utilisation efficiency. The company is confident that overall business performance in 2026 will grow better than in 2025, supported by orders both at home and abroad.
RBF confident of second-half growth, invests 150 million baht in China plant
R and B Food Supply, or RBF, expects its performance in the second half of 2026 to improve compared with the same period last year, driven mainly by outstanding growth in overseas markets including Vietnam, Indonesia and India, which has steadily expanded the share of revenue coming from abroad. Dr. Somchai Rattanapoompinyo, Chief Executive Officer, said the company is focusing on its core high-potential, high-margin product groups, especially Flavour and Food Coating, while strengthening its position in Indonesia and India. Company director Lt. Col. Dr. Janjida Rattanapoompinyo, speaking about the plan to expand production in China, said the company is investing 150 million baht to build a factory and install machinery to produce breadcrumbs and premixes in the Food Coating group. Construction is expected to be completed around the end of 2026, followed by trial runs and applications for permits from the Chinese government, so that commercial operations can begin in 2027. Meanwhile, the plant in Indonesia is preparing land to meet rising demand, and the Vietnam factory has adjusted its production plan to support exports of goods to the Cambodian market, helping to raise the Vietnam plant's capacity utilisation rate to a high level of efficiency. The company is confident that its overall business performance in 2026 will grow better than in 2025, supported by orders both at home and abroad.