Jack Ma's Influence Grows With Smart Fishery Investment and Food Processing Venture
Genghai Muyang, a company backed by Jack Ma's interests, plans a significant investment in Hainan's smart fishery sector. Meanwhile, Jack Ma's influence expands with the establishment of Majia Kitchen, focusing on pre-packaged meals and food processing.
Genghai Muyang, linked to Jack Ma's ventures, is set to invest RMB 1.4 billion (USD 197.27 million) in a smart fishery project in Danzhou, Hainan. The first phase is expected to start production in November 2023. This move aligns with Ma's ongoing interest in modernizing agriculture and reducing supply chain costs, as seen in Alibaba's Hema Fresh and Digital Rural Plan initiatives.
Majia Kitchen, a new subsidiary of Hangzhou Dajingtou 22nd Culture and Art, is led by Pau Jason John with a registered capital of RMB 10 million. Its business scope includes food sales, import and export, wholesale, hotel management, and technical services. Xu Shi, the supervisor, has a background intertwined with Jack Ma's ventures, having worked at the Jack Ma Charity Foundation and his art management and consulting enterprises. Majia Kitchen's future plans are unclear, but speculation suggests it may synergize with fisheries and aquaculture parks, focusing on food deep processing.
Jack Ma's influence in the agricultural sector has been growing since 2018. Apart from Majia Kitchen, he has established Genghai Muyang Investment and Hangzhou Yunqi Catering Management. His company Hangzhou Dajingtou 22nd Culture and Art has also set up Yimiba Food Technology and Yimiba Ocean Technology. The pre-packaged meal market in China, which reached RMB 419.6 billion (USD 59.12 billion) in 2022, is expected to exceed RMB 1 trillion (USD 140.91 billion) by 2026, presenting significant opportunities.
Jack Ma's influence in the agricultural sector continues to grow with Genghai Muyang's smart fishery project and the establishment of Majia Kitchen. Both ventures aim to modernize agriculture and reduce supply chain costs, contributing to the expanding pre-packaged meal market in China.
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