Tianyi Fruit

Background:Tianyi Fruit Holdings (0756:HKG) is one of China's few juice makers that grows its own fruit, insulating it from fluctuating raw material costs. In addition to making concentrated orange juice and related products such as fruit pulp, it also sells oranges wholesale domestically and overseas. The company supplies its juice to major brands such as Coca Cola (KO:NYSE), Suntory and Wahaha. Tianyi is the biggest domestic producer of frozen concentrate orange juice (FCOJ) with 10% market share, according to the China Beverage Industry Association.

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