Formerly named Huafeng Group, with focus on textile manufacturing, the firm changed its name last month after the injection of the tea business.
General manager and executive director Cai Yangbo said it is seeking to sell the textile business whose profit margin is lower than that for tea.
Cai said his family moved into the tea business in 2007, spending 4 million yuan (HK$5.09 million) on 46.67 hectares of oolong tea plantation sites in Anxi.
The company has been increasing acquisition, culminating in the purchase of China Natural Tea Holdings in July this year for HK$2.49 billion.
The firm currently holds 2,586 hectares of plantations in Anxi.
In 2012, revenue from tea sales was 389 million yuan, while net profit was 191 million yuan. Between 2010 and 2012, the net profit grew by 30 percent annually.
Cai told of a production model involving the purchase of land from farmers who are given fertilizer and pesticide and are monitored in groups. The farmers then sell tea leaves to Ping Shan which refines, packages, and sells them. "Quality can be ensured. We will apply this model should we buy plantation sites in other places," Cai said.
Only 10 percent of the revenue is contributed by retail sales under Ping Shan's own brand in 27 self-operated shops and 119 other retail outlets. Cai hopes products will be available at 400 retail outlets by 2015. The rest is made up of wholesale revenues. The product is not exported.
Cai said the firm has been seeing acquisition opportunities in places beyond Anxi, such as Yunnan, for black tea to enrich the product range. It may also launch tea bags, green tea powder, and even open tea shops. STAFF REPORTER