TCP Group Featured in People’s Daily Article Highlighting Foreign Companies’ Strong Confidence in the Chinese Market’s Long-term Stability and Growth Prospects

People’s Daily published the article The Whole Year’s Work Depends on a Good Start on its front page, which emphasizes that strategic plans should be made to make a strong beginning to this important year. It noted that, “Spring ploughing and preparations have been carried out in an orderly manner; major projects have been vigorously advanced; foreign capital utilization has continued to achieve double-digit growth; and the economy has performed within an appropriate range.” The article also said:

“Against the backdrop of a turbulent global economy, China has been integrated into the world more than ever and has been dedicated to providing more stability against the world’s rising uncertainties while also striving to achieve self-reliance and independence. BMW Group raised its capital investment by 27.9 billion yuan, increasing its shareholding in BMW Brilliance Automotive Ltd. (BBA) from 50% to 75%; a 30GWh (gigawatt-hour) power battery project of SK Inc. from South Korea began in Yancheng, Jiangsu; and the Red Bull Drink (Sichuan) Production Base of TCP Group from Thailand was launched in Neijiang, Sichuan…In the first four months of the year, China’s actual use of foreign capital increased by 20.5% year-on-year, showing foreign enterprises’ confidence in the growth and long-term stability of the Chinese market.”

People's Daily article The Whole Year’s Work Depends on a Good Start on its front page

TCP Group has accelerated its development in China since the Supreme People’s Court made the final decision that the Red Bull series of trademarks belongs to TCP Group, effectively safeguarding the brand owner’s legitimate rights. On March 29, the second day after Sichuan Province’s project investment work meeting, as well as the promotion meeting for major projection construction under the “14th Five-Year Plan,” the Red Bull Drink (Sichuan) Production Base officially started construction in the Neijiang Economic and Technological Development Zone.

The Red Bull Drink (Sichuan) Production Base is backed by TCP Group’s largest investment and number of production lines and most advanced modern technology in China. It is also the largest project in Neijiang to attract foreign direct investment in recent years.

The Groundbreaking Ceremony for TCP Group Red Bull Drink (Sichuan) Production Base

With an investment of 1.1 billion yuan, the project will cover a total area of 400 mu, with 300 mu for the factory and 100 mu for the supporting facilities. Together with the construction of other ecosystems, the total investment for the project is expected to reach 2 billion yuan. It is estimated that the facility’s total annual production capacity will reach 1.44 billion cans, which will be deployed primarily to cover the market in western China.

The Red Bull Drink (Sichuan) Production Base marks a significant expansion of TCP Group’s investment in China. It is also one of the important steps being taken by TCP Group to achieve highly localized production in the country and continue to fulfill the diversified and rapidly evolving needs of Chinese consumers. Thanks to the favorable business environment provided by the Chinese government, TCP has been able to successfully implement its investment plan. At the same time, it also demonstrates TCP Group’s strong commitment to further deepening its presence in China and its high level of confidence in the continued steady development of the Chinese market.

In the future, TCP Group will continue to work with all of its partners in China to build a positive environment for achieving win-win cooperation, actively fulfill its public responsibilities, and help realize its vision of “Energizing a Better World for All.”