Impact of Covid-19 Pandemic on Food and Beverage Companies

Comparing International Companies and Domestic Companies in China

DOI

10.2991/978-94-6463-098-5_32How to use a DOI?

Keywords

Food and Beverage enterprises; COVID-19; Social responsibility; financial situations

Abstract

AS COVID-19 was spreading out at the end of 2019, the economies in the different countries have been impacted to varying degrees, and most industries are shocked. This paper, through the method of literature review, aims to describe domestic food and beverage companies in China and international food and beverage companies, examines the general trend of the food and beverage industry before and after the epidemic. Additionally, it analyses the differences between the behaviours of these two kinds of companies by graphing the data. According to the data analysis, the paper finds that food and beverage industry is developing steadily. The COVID-19 epidemic has an impact on the food and beverage industry, but it is not as severe as it is on other industries, such as the catering industry and tourist industry. Generally, the revenues and cost of sales are both increasing, and the profit rate is stable. In most sample companies, the rate of capital spending stays low, except for one Chinese domestic company. By comparing the data between the domestic and international food and beverage companies, it is obvious that there is still a huge gap between Chinese domestic companies and international companies. Domestic companies have a smaller scale and market. Their ability is not strong enough to cope with the unknown risks, so they hold more cash to prevent accidents. Besides, domestic companies in China do not pay enough attention to the community and environment. Some suggestions from the angles of operation mode, financial situation, innovation and soft power are provided to help domestic companies make progress.

Copyright

© 2023 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Qianyi Luo
PY  - 2022
DA  - 2022/12/27
TI  - Impact of Covid-19 Pandemic on Food and Beverage Companies
BT  - Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022)
PB  - Atlantis Press
SP  - 264
EP  - 273
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-098-5_32
DO  - 10.2991/978-94-6463-098-5_32
ID  - Luo2022
ER  -