Fundraising Plans

First-half profit rose 21 percent to 1.63 billion yuan ($254 million), Bright Food said in a statement released before the ceremony. Sales increased 18 percent to 35.7 billion yuan. The company aims to reach sales of 120 billion yuan in 2015, according to Wang.

"Bright" is a brand created by Shanghai Yimin Foods Co, one of the four companies that merged to form Bright Food.

Bright Food might seek to raise 6 billion yuan through an initial public offering of its sugar unit and a bond sale, Wang said in April.

It inquired last year about acquiring GNC Holdings Inc, the retailer of vitamins and supplements, before the Pittsburgh-based chain raised $360 million in an IPO.

The company is in advanced talks to buy Australia-based Manassen Foods Australia Pty Ltd from Champ Private Equity, the Australian Financial Review reported last month, without saying where it got the information.

Bloomberg News