Fortune

What Fortune does

Fortune (SSE: 600965; 河北福成五丰食品股份有限公司) is a Beijing-Tianjin-Hebei-based, vertically integrated food conglomerate that also operates a funeral and cemetery services business. Founded in 1998 and listed on the Shanghai Stock Exchange in 2004, the company employs between 1,001 and 5,000 people and is headquartered in Sanhe City, Hebei. Core operations span the full cattle-to-consumer value chain: cattle breeding, slaughter, processed and prepared/frozen foods, dairy products, and a proprietary cold-chain distribution network, culminating in a retail restaurant chain under the "Fucheng Fat Cattle" brand (a China Well-Known Trademark). The company also owns and operates Lingshan Baota Cemetery in Sanhe (acquired 2014) and a 60% stake in Hunan Shaoshan Tiande Fudi Cemetery (acquired November 2018 for RMB 180 million), with combined burial capacity exceeding 200,000 plots.

The business generates revenue through three principal streams: (1) B2B sales of beef, processed meat, and prepared frozen foods to institutional customers including Haidilao, McDonald's, IKEA, Walmart, Carrefour, Hema, and other chain and military accounts; (2) consumer-facing retail via the Fucheng Fat Cattle hot pot/BBQ restaurant chain and Fucheng Youxuan direct retail stores; and (3) cemetery plot sales and related funeral services, which carry materially higher margins than the food side. Pricing is unit-based for meat and prepared-food SKUs, with the prepared-food catalog exceeding 200 SKUs, while cemetery revenue is driven by plot availability and Ministry of Civil Affairs-regulated pricing.

In 2021, third-generation owner Li Liang assumed the Chairmanship and initiated a strategic reset, restarting in-house beef cattle breeding (a 10,000-head farm completed December 2021), partnering with China Agricultural University and a biotech firm to develop indigenous Chinese beef cattle genetics, and launching the "Power Kitchen" sports nutrition consumer brand in October 2021 with partner Ma Jian. The company reported 2024 revenue of approximately $1.02B and 2025 revenue of approximately $1.16B, with H1 2021 revenue of RMB 6.36B (+39% YoY) and net profit up 120% YoY, reflecting a strong post-COVID rebound and partial benefit from the cattle restart.

Name

Fortune

Legal name

河北福成五丰食品股份有限公司

Website

https://fucheng.net

Company type

Public

Founded year

1998

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Fortune (SSE: 600965) is a vertically integrated Chinese beef and prepared-food conglomerate that also operates cemetery/funeral services, serving institutional B2B customers (Haidilao, McDonald's, IKEA, Walmart), military accounts, and retail consumers through its Fucheng Fat Cattle restaurants and Fucheng Youxuan stores.

Ownership category

akta.pro rank

Product category

Meat and Frozen Prepared Foods

NAICS

Animal Slaughtering and Processing (3116), Animal (except Poultry) Slaughtering (311611), Animal Slaughtering and Processing (31161), Meat and Meat Product Merchant Wholesalers (42447), Meat Retailers (44524), Meat Retailers (445240)

SIC

Sausages & Other Prepared Meat Products (2013), Canned, Frozen & Preservd Fruit, Veg & Food Specialties (2030), Dairy Products (2020), Wholesale-Groceries, General Line (5141), Wholesale-Groceries & Related Products (5140), Retail-Eating Places (5812)

akta.pro primary industry

Meat, Poultry & Seafood Wholesale (AFAIABAF)

akta.pro secondary industries

Meat, Poultry & Seafood Refrigerated Warehousing (TLALABAC), Refrigerated/Chilled Foods Wholesale (Deli, Prepared, Fresh Pasta, etc.) (AFAIAHAB)

Keywords

• Frozen prepared foods
• Beef cattle breeding
• Meat processing
• Cemetery funeral services
• Restaurant chain operations

Headquarters

HQ city

Sanhe

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Central Kitchen / Food Processing: Production and sale of frozen prepared foods, processed meat, dairy, and prepared meals. Products include acid-washed beef, Chinese-style braised meats, Western-style low-temperature meats, prepared meat dishes, instant foods, and dairy. Revenue from B2B institutional clients (restaurant chains, supermarkets, military catering) and B2C consumer retail via e-commerce and physical stores.
2. Funeral Services / Cemetery: Burial plot sales and related services at Sanhe Lingshan Pagoda Cemetery (三河灵山宝塔陵园) and Hunan Shaoshan Tiande Fudi Cemetery (湖南韶山天德福地陵园). High-margin revenue stream with gross margins above 87%. Customers primarily from Beijing (over 70% of cemetery customers).
3. Restaurant / Catering Services: Fucheng Fat Cattle (福成肥牛) hot pot and BBQ restaurant chain operations across 30+ locations. Revenue from dine-in dining and catering services primarily in Hebei's Sanhe/Yanjiao area.
4. Beef Cattle Breeding and Slaughter: Relaunched in 2021 after prior divestment in 2018. Beef cattle breeding (10,000-head facility) and slaughter operations. Vertical integration into upstream meat supply for food processing segment. Projected to add approximately 100 million yuan in combined profit from cattle and slaughter.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Hebei Fucheng Wufeng Food Co., Ltd. operates a vertically integrated food and funeral services business headquartered in Sanhe, Hebei. The company produces and sells frozen prepared foods, processed meat products, and dairy under the Fucheng Fat Cattle, Xian Dao Jia, and Mei Shi Jia brands through B2B institutional channels (restaurant chains, supermarkets, military/government catering) and B2C channels (e-commerce on JD.com and Tmall, Fucheng Youxuan physical retail stores). It also operates the Fucheng Fat Cattle restaurant chain, runs beef cattle breeding and slaughter operations, and provides cemetery and funeral services at Sanhe Lingshan Baota Cemetery and Hunan Shaoshan Tiande Fudi Cemetery.

Differentiator

Problem solved

Functional benefit

Brands

• 福成肥牛: China famous trademark, beef restaurant chain and processed beef products brand
• 鲜到家
• 福成盛筵
• 福成优选
• 力量厨房

Products and services

• Frozen Prepared Foods (速食品 / Xian Dao Jia) Frozen prepared foods covering acid-washed beef, Chinese-style braised meats, Western-style low-temperature meats, prepared meat dishes, instant foods, and dairy, with annual output of 10,000+ tons and sales approaching 400 million RMB. Distributed to restaurant chains, supermarkets, and consumers through cold chain delivery across 24 provinces.
• Fucheng Meat Products (福成肉制品)

Quantifiable outcome

• Funeral services gross margin: 87.96% (2018)
• +5 more outcomes

Named customers16 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core and minor.

• China Agricultural University (中国农业大学)coreStrategic or Co-development Partner · 1 May 2021Fucheng partners with China Agricultural University for industry-academia-research cooperation in food science and technology. Collaboration aims to enhance product development capabilities and technological innovation in the food processing segment.
• Top-tier domestic breeding biotechnology company (中国顶尖繁育生物技术公司)coreTechnology or Integration · 1 May 2021Strategic cooperation to establish an international first-class high-standard beef cattle breeding technology platform. Integrates whole genome testing, sex control, embryo transfer, and stem cell technologies. Aims to cultivate China-indigenous proprietary high-performance beef cattle genetics within 3 years.
• Sanhe City Liangrun Ecological Agriculture Cooperative (三河市粮润生态农业合作社)minorStrategic or Co-development Partner · 1 March 2021Fucheng co-founded an agricultural cooperative with 6 local farmers in Sanhe. Fucheng holds 88% stake. Cooperative focuses on seedling cultivation and ecological environment restoration. Expected to receive ~3,000 mu of land support for seedling base, connecting Fucheng with local farmers in feed supply chain integration.
• Beijing Dragon Wing Sports Culture Co., Ltd. (北京市龙领体育文化有限公司)minorStrategic or Co-development Partner · 15 October 2020Strategic cooperation with former national basketball player Ma Jian's Dragon Wing Sports to develop sports nutrition food products. Jointly established a 'Sports Nutrition Food Research Center' and launched '力量厨房' (Power Kitchen) concept. Fucheng provides high-quality meat and protein products for athletes and fitness consumers.

Scale indicators10 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Fu Shou Yuan International Group: China's largest listed funeral and cemetery services operator. Fucheng's Sanhe Lingshan Baota and Hunan Shaoshan Tiande Fudi cemeteries compete in the same regulated burial plot / memorial services market with comparable margin profile and high regulatory barriers.
• Tangrenshen Group: Vertically integrated pork and meat products operator covering feed-to-slaughter plus processed meat. Comparable to Fucheng's integrated beef breeding, slaughter, and processed meat (西式低温) products serving B2B food service and retail.
• Sanquan Foods: China's leading frozen and quick-frozen foods brand (dumplings, rice, and quick meals) with national retail and e-commerce distribution. Directly comparable to Fucheng's 速食品 / 鲜到家 quick-frozen prepared food business and similar e-commerce-led distribution model.
• Yurun Group: Major Chinese meat products processor with cold meat, prepared foods and sausages sold across retail and food service. Comparable to Fucheng's meat processing and B2B wholesale of prepared meat to supermarkets and restaurant chains.
• Anjoy Foods: China's leading frozen and prepared (预制菜) foods manufacturer, with hot pot ingredients and frozen meal SKUs sold nationwide through retail and food service. Comparable to Fucheng's 鲜到家 prepared meat/dairy SKUs of similar scale and channel mix.
• Delisi Food: Shandong-based prepared meat products specialist (sausage, low-temperature meat products) supplying retail and food service. Closely comparable to Fucheng Meat Products subsidiary's prepared/low-temperature meat portfolio with overlapping B2B and retail channels.
• Shuanghui Development (WH Group): China's largest vertically integrated meat processor with slaughtering, processing and branded fresh meat. Directly comparable to Fucheng's beef breeding-to-processing chain, scaled much larger but with the same core business model of B2B meat supply to retailers and food service.

Broad incumbents

• New Hope Liuhe: One of China's largest agricultural conglomerates spanning animal feed, hog and poultry breeding, slaughter, and processed meat. Operates on a much larger scale than Fucheng but overlaps meaningfully in cattle breeding technology, meat processing and downstream food distribution.

Regional players

• Beijing Sanyuan Foods: Beijing-based dairy and processed food manufacturer serving the Beijing-Tianjin-Hebei consumer market. Comparable to Fucheng's regional dairy and prepared food brands competing for overlapping B2C retail and e-commerce customers in the same geographic footprint.

Emerging players

• China Modern Dairy: Leading raw milk producer and integrated dairy operator now expanding downstream through branded milk products. Comparable to Fucheng's 福成乳制品 dairy subsidiary, which uses captive raw milk supply for both B2B and retail channels.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/fortune-ng-fung-food-hebei-co-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fortune