Core Viewpoint - The American plant-based meat giant, Beyond Meat, has officially announced the suspension of all operations in the Chinese market after a five-year expansion effort that ended in failure [1][3]. Group 1: Company Performance - Beyond Meat, once hailed as the "first stock of plant-based meat," saw its stock price soar by 163% on its debut in 2019, reaching a market capitalization of over $20 billion [3]. - The company's market value has since plummeted by over 99%, now standing at less than $200 million, while its debt has reached $11 billion [5]. - The withdrawal from China is part of a broader global contraction due to poor performance in various markets [5][29]. Group 2: Market Challenges - The high prices of Beyond Meat products have been a significant barrier to consumer acceptance, with a 230-gram box priced at 30 yuan, while fresh meat can be purchased for nearly half a kilogram at the same price [7]. - The taste and texture of the products have not met consumer expectations, leading to a lack of repeat purchases [11][13]. - Health concerns have arisen due to the presence of numerous additives in the products, which contradict the initial marketing claims of being "low-fat" and "healthy" [16][20]. Group 3: Consumer Preferences - The products have not adapted well to Chinese cooking methods, resulting in poor performance in local culinary contexts [13][15]. - Local consumers have shown a preference for products that align with their taste and cooking habits, which has benefited domestic plant-based brands [31][33]. - Beyond Meat's marketing strategies, which included moral appeals regarding environmental impact, have not resonated with Chinese consumers, who prioritize taste, affordability, and health [29][33]. Group 4: Industry Trends - The overall plant-based meat industry in the U.S. is facing significant challenges, with refrigerated plant-based meat sales down 22% year-on-year and over 50% of American consumers rejecting these products due to excessive additives [24][26]. - The gross margin for these companies is only 13.1%, significantly lower than traditional meat industries, leading to continued financial losses [27]. - The failure in the Chinese market reflects a broader trend of misunderstanding consumer needs and preferences in international markets [33].

Core Viewpoint - The company "Beyond Meat," known for its plant-based meat products, is facing significant operational challenges, including plans to terminate its online store in China by November 2025 and a substantial decline in revenue and increasing losses over recent years [2][4]. Group 1: Company Overview - Beyond Meat, founded in 2009 and headquartered in El Segundo, California, is one of the earliest companies focused on the research and production of plant-based meat [4]. - The company went public on NASDAQ in 2019 and offers products such as plant-based beef patties, pork, and chicken [4]. Group 2: Financial Performance - Beyond Meat's revenue has been under pressure, with reported revenues of $419 million in 2022, $343 million in 2023, and projected $326 million in 2024, alongside net losses of $366 million, $338 million, and $160 million for the same years respectively [4]. - For the third quarter of 2025, the company reported revenues of $214 million, a year-over-year decrease of 14.37%, and a net loss of $193 million, which is an increase from a net loss of $115 million in the previous year [4]. Group 3: Strategic Decisions - In response to ongoing financial pressures, Beyond Meat announced a "cost-cutting" strategy, which included suspending operations in the Chinese market and reducing its workforce by 95% [4]. - The closure of its online channels in China appears to have been part of a premeditated plan due to the declining performance in the plant-based meat sector [4].

Core Viewpoint - Beyond Meat, known as the "first stock of plant-based meat," has closed its flagship stores on major e-commerce platforms in China, indicating a significant retreat from the market [2][3]. Company Overview - Beyond Meat was founded in 2009 and went public in 2019, experiencing a stock price surge of 163% on its debut. Notable investors include Bill Gates and Leonardo DiCaprio [4]. - The company initially entered the Chinese market in 2020 through partnerships with major food chains like Starbucks and KFC, aiming to capture the B2B market [4][6]. Market Performance - As of November 30, 2023, Beyond Meat's flagship stores on Tmall and Pinduoduo have ceased operations, with the Tmall store announcing plans to terminate operations by November 27, 2025 [2][3]. - The company has faced declining revenue, with a drop from $419 million in 2022 to $326 million in 2024, and a cumulative loss of $864 million during the same period [8]. - In the third quarter of 2025, Beyond Meat reported a revenue of $214 million, a year-on-year decrease of 14.37%, and a net loss of $193 million, worsening from a loss of $115 million in the previous year [8]. Product Pricing and Consumer Perception - Beyond Meat's products are priced higher than local alternatives, with plant-based meat products costing over 60 yuan per kilogram, comparable to domestic beef prices [3][7]. - Consumer feedback indicates dissatisfaction with the taste and texture of plant-based meat, with many describing it as inferior to real meat [10][12]. Industry Trends - The plant-based meat sector in China has seen a decline in investment and interest since late 2021, with many startups facing financial difficulties or shutting down [9]. - A report indicates that approximately 74% of consumers are not inclined to repurchase plant-based meat products, primarily due to taste issues [10]. - Despite challenges, the market for plant-based meat in China is projected to grow, with estimates suggesting a market size of $760 million by 2024 and $3.85 billion by 2033, maintaining a compound annual growth rate of around 20% [13]. Stock Performance - Beyond Meat's stock has significantly declined, trading at $0.982 per share as of November 28, 2023, with a total market capitalization of $445 million [14].