On the afternoon of November 6, EAST BUY (HKG: 01797) held a press conference titled "Five-True Tangerine Peel · A Three-Year Promise," officially launching its in-house Xinhui tangerine peel product. Sun Jin, Executive President of EAST BUY (HKG: 01797), attended and delivered a speech.
Sun Jin stated that "in-house" is not merely an additional label, but an additional layer of responsibility. When discussing the criteria for EAST BUY (HKG: 01797) to develop in-house products, Sun Jin pointed to three aspects: "The market has pain points, users have demand, and we have the capability." Regarding the layout of the in-house tangerine peel project, Sun Jin said that EAST BUY (HKG: 01797) has invested over 100 million yuan cumulatively over three years.
At the event, EAST BUY (HKG: 01797) released the "East Buy Five-True Tangerine Peel Standard," which sets strict and detailed requirements across five dimensions: origin, variety, storage, craftsmanship, and safety. According to the introduction, EAST BUY (HKG: 01797) has anchored itself to the core production area of Xinhui, locked its seed source to authentic Xinhui tea-branch mandarin, and conducted pre-inspections on air, soil, and seedlings of partner orchards, establishing a "one orchard, one file" system.
In terms of cooperation models, EAST BUY (HKG: 01797) will exercise full-chain self-control: purchasing at the current year's fresh peel price and locking in demand volume and orchard resources in advance; suppliers are responsible for initial processing of fresh fruit and daily warehouse management, and must provide orchard information and traceability materials; EAST BUY (HKG: 01797) dispatches quality control teams to conduct regular on-site management at the source around the clock.
"Not all Xinhui tangerine peel can become East Buy's Xinhui tangerine peel. Being 'authentic' Xinhui tangerine peel alone is not enough; it must also be 'good' Xinhui tangerine peel. Anything that fails to meet our quality control standards will absolutely not be launched," Sun Jin said.
It is reported that due to unfavorable weather conditions in the production area this year, combined with an "off-year" for mandarin fruit, standards for fruit diameter, appearance defects, maturity, and pesticide residues were strictly enforced item by item, and only 51.4% of the fruit truly met EAST BUY (HKG: 01797)'s requirements. Since the beginning of this year, EAST BUY (HKG: 01797) has continued to increase investment in quality control, conducting regular risk interception from the source. Sun Jin introduced that EAST BUY (HKG: 01797) has invested approximately 27 million yuan in quality control over the past three months, with the full-year total expected to exceed 100 million yuan, mainly for source on-site management, third-party testing, monthly unannounced inspections, and full-process traceability. Quality control personnel have doubled in half a year and will reach 150 by the end of the year.
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