Stock Code : 600153.SH

RESOURCE-SHARING,
BEING PROFESSIONAL,
VALUE-CREATING

Xiamen C&D Inc. Stock Code: 600153.SH

Stock Code: 600153.SH

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C&D Merchandise Signs Letter of Intent with Luckin Coffee to Deepen China-Brazil Coffee Industry Cooperation

Date: 2024-06-07 | Source：C&D Inc.
On June 5, the China-Brazil Business Seminar was held in Beijing. During the seminar, C&D Merchandise, a wholly-owned subsidiary of C&D Inc. (600153.SH), signed a letter of intent for the procurement of Brazilian coffee beans with Luckin Coffee (China) Co., Ltd. (hereinafter referred to as Luckin Coffee) in the presence of Geraldo Alckmin, Vice President and Minister of Development, Industry, Trade, and Services of Brazil.

According to the agreement, Luckin Coffee plans to purchase approximately 120,000 tons of coffee beans from relevant coffee-producing regions in Brazil during 2024-2025, and C&D Merchandise will leverage its expertise in supply chain management to ensure that Luckin Coffee can consistently obtain high-quality supplies, meeting the growing demand for premium coffee in the Chinese market. This cooperation marks another significant milestone following the 2022 agreement between the two parties for a 45,000-ton coffee bean project. With the support of the Chinese and Brazilian governments, both sides will continue to collaborate in the coffee industry, sharing industrial insights and practical experiences to deepen cooperation in the coffee sector.

The year 2024 marks the 50th anniversary of the establishment of diplomatic relations between China and Brazil,and Brazil is already one of China's most important trading partners. As one of the world's leading producers and exporters of coffee, Brazil's unique geographical and climatic conditions contribute to the distinctive flavor and excellent quality of its coffee beans. Luckin Coffee, as one of China's largest coffee chains, has a high demand for the stable supply of premium coffee beans. The involvement of C&D Merchandise will provide a solid guarantee for Luckin Coffee's supply chain, helping the brand to build a more comprehensive high-quality coffee supply chain globally.

This signing signifies a shared commitment and vision for the future development of the coffee industry by C&D Merchandise and Luckin Coffee. It also aims to promote further development of the coffee industry in both China and Brazil. Moving forward, C&D Merchandise will continue to collaborate with partners in the coffee industry to bring consumers more high-quality, convenient, and cost-effective coffee services, driving the quality upgrade and mature development of China's coffee industry.
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