Jianlibao Group
Jianlibao Group is a soft drink producer based in Foshan, Guangdong, China which was established in 1984. In 1990s, The Jianlibao drink was one of the best sellers in China, on a par with Coca-Cola and Pepsi. However, poor management and stiff competition let to a total debt of more than 1 billion Renminbi yuan (US$121 million) in 2005.
In February 2007, Zhang Hai, former Jianlibao president and CEO, was sentenced 15 years jail time for embezzling public funds after nearly two years of detaining.
Under Zhanghai, Jianlibao was the sponsor of the Shenzhen Jianlibao football club between 2002 and 2005, who won the China Super League title in 2004.
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