Jack Ma’s Holding Company Obtains Food Sales License

Recently, 1.8 Meters Food Technology (Zhejiang) Co., Ltd. has obtained administrative licenses for the sale of pre-packaged (regular) food, bulk food (excluding cooked food products), and health food sales. The licensing authority is the Market Supervision Administration of Xihu District, Hangzhou City. 1.8 Meters Food Technology (Zhejiang) Co., Ltd. is jointly held by 1.8 Meters Technology Holding Limited, Hangzhou Dajingtou Twenty-Two Cultural Art Co., Ltd., and 1.8 Meters Enterprise Management (Hangzhou) Partnership Enterprise (Limited Partnership). Jack Ma holds a 99.9% stake in Hangzhou Dajingtou Twenty-Two Cultural Art Co., Ltd.

After stepping down as the Chairman of Alibaba Group Holding Limited, Jack Ma’s movements have been closely watched by the public. Recently, the disclosure of Jack Ma’s series of investment actions has shown that his areas of focus are expanding beyond education and philanthropy to include agriculture and food.

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According to Hu Xiaoming, the chairman of 1.8 Meters Technology, the name “1.8 Meters” comes from a original intention of Jack Ma, the founder of Alibaba Group Holding Limited, to participate in agriculture. Every mother in the world hopes that their children can grow up healthy and be taller than 1.8 meters. Currently, seafood products under the 1.8 Meters brand have been launched on Freshippo platform. Among them, a 330g frozen yellow croaker is priced at 99 yuan (approximatly ＄14) per box and Zhoushan Xiasi Archipelago scallops are priced at 29.9 yuan (approximatly ＄4.2) for 750g.