Core Viewpoint - Beyond Meat, known as the "first plant-based meat stock," has independently terminated its Tmall flagship store operations, reflecting a significant retreat from the Chinese market due to declining demand for plant-based products [1][5][8]. Group 1: Business Operations - Beyond Meat announced in February that it would suspend operations in China by the end of June, planning to reduce its workforce by 95% [5][8]. - The company had previously viewed China as a strategic market, launching products in collaboration with major brands like Starbucks and KFC [6][7]. - As of November 27, Beyond Meat's Tmall flagship store ceased operations, and its Pinduoduo store no longer sells any products [1][8]. Group 2: Market Challenges - The demand for plant-based meat in China has significantly declined, with major partners like Starbucks, KFC, and Nestlé halting or selling off their plant-based product lines [9][12][14]. - Beyond Meat's revenue has been on a downward trend since 2022, with projected revenues of $4.65 billion in 2021, dropping to $3.27 billion in 2024, and net losses increasing from $1.82 billion to $1.60 billion over the same period [9][11]. - In the U.S. market, Beyond Meat has also experienced a decline in sales, with retail channel revenues down 18.4% and food service revenues down 27.3% in the latest quarter [11]. Group 3: Industry Trends - The overall market for plant-based meat in China is cooling, with various brands, including local ones, also facing challenges in maintaining product offerings [12][13]. - Nestlé and Unilever have both scaled back their plant-based meat initiatives in China, indicating a broader industry trend of reassessing the market potential for plant-based products [13][14].

Core Viewpoint - Beyond Meat has officially ceased its operations in the Chinese market, closing its Tmall flagship store and halting all e-commerce sales channels in China, following an earlier announcement to pause its business in the region [1][5]. Group 1: Company Actions - Beyond Meat closed its Tmall flagship store and has also stopped operations on Pinduoduo, marking the end of its e-commerce presence in China [1][3]. - The company announced in February 2024 that it would pause its Chinese operations as part of a global restructuring plan, with activities expected to cease by the end of the second quarter of 2025 [5]. - The decision to halt operations in China is part of cost-cutting measures aimed at reducing operational expenses, with expected savings of approximately $500,000 to $1 million in cash compensation costs [5]. Group 2: Financial Impact - In the third quarter of 2025, Beyond Meat reported a net revenue of $70.2 million, a year-on-year decline of 13.3%, with losses widening to $110.7 million compared to $26.6 million in the same period last year [5]. - The cessation of operations in China resulted in $1.7 million in related costs, including accelerated depreciation and inventory impairment, negatively impacting gross profit [5]. Group 3: Industry Context - Beyond Meat entered the Chinese market in 2020, which was considered the "year of plant-based meat" in China, alongside other brands like The Vegetarian Butcher and Garden Gourmet [6]. - Despite initial success, the plant-based meat industry in China began to cool down in the second half of 2021, leading to the exit of several brands, including Hey Meat, which had its business license revoked in April 2023 [6]. - Other brands, such as Garden Gourmet and The Vegetarian Butcher, have also faced challenges, with the latter being sold by Unilever and its team disbanded [7].