Asia300

Tingyi (Cayman Islands) Holding Corp.

China

  • 1m
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  • 1y
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May 29, 2017
Prev close: 9.69
May 29, 2017
Market cap:
Market cap(USD):
54,310.71M
6,968.04M
Shares: 5,604.82M

Currency in HKD

Company profile

Market(Ticker): HKG(322)
Sector:
Industry:
Consumer Non-Durables
Food: Specialty/Candy
Full time employees: 65,182

Business summary

Tingyi (Cayman Islands) Holding Corp. engages in the production and distribution of instant noodles, beverages, and instant food products. It also manufactures, bottles, packages, distributes, and sells PepsiCo nonalcoholic drinks in the PRC. The company was founded in 1992 and is headquartered in Shanghai, China.

Company background

Tingyi (Cayman Islands) Holding is a major Taiwan-based food and beverage maker. It is a subsidiary of Taiwan's Ting Hsin International Group, which operates businesses in such fields as retailing, telecommunications and property development.

In China, Tingyi instant noodle products control nearly half the market. In beverages, its ready-to-drink teas, such as those under its Master Kong brand, account for at least 50% of the market, and its Fresh Daily C juice has a share of over 20% of the juice market. Its carbonated drinks hold the second-largest share in China after Coca-Cola of the U.S.

The conglomerate was established in Tianjin, China, in 1991. It started making instant noodles in 1992 and formally launched its beverage business in 1996. In 2012, it acquired the Chinese carbonated-beverages unit of U.S. company PepsiCo.

In 2015, the company agreed to manufacture and distribute ready-to-drink products for U.S. coffee giant, Starbucks, throughout mainland China.

As of the end of 2014, it had 582 sales offices and 77 warehouses in China supplying products to about 120,000 retailers.

Tingyi also has strong corporate links with Japan. Trading house Itochu and Asahi Group Holdings, which owns Asahi Breweries, hold stakes of 18.7% and 6.5%, respectively, in Ting Hsin International, while Tingyi is one-third owned by Japan's Sanyo Foods, a major instantnoodle maker.

Asahi Group Holdings also owns 30.4% of Tingyi-Asahi Beverages Holding, a subsidiary of Tingyi Holding that also operates joint ventures with other Japanese players, such as ketchup maker Kagome and major snack maker Calbee.

In the news

Financial highlights

Dec 2016

  • Local currency
  • US Dollar
Revenue 64,986.22M
Gross profit 20,337.16M
Operating income 4,364.92M
Income before tax 2,885.95M
Net income 1,373.05M
EBITDA 8,755.18M
Diluted EPS 0.24
Dividends per share 0.12
Total assets 63,091.17M
Total liabilities 36,190.43M
Total equity 20,313.09M
Operating cash flow 9,192.36M

Currency in HKD

Revenue 8,371.86M
Gross profit 2,619.93M
Operating income 562.31M
Income before tax 371.78M
Net income 176.88M
EBITDA 1,127.88M
Diluted EPS 0.03
Dividends per share 0.01
Total assets 8,137.48M
Total liabilities 4,667.83M
Total equity 2,619.97M
Operating cash flow 1,184.20M

Currency in USD

Valuation measures

Dec 2016

PER 38.44
ROA 2.13%
ROE 6.40%
Operating margin 6.71%
Profit margin 2.11%

Key executive

  • Chief Executive Officer: Chun-Hsien Wei
  • Chief Financial Officer: Kuo Wei Liu
  • Chief Technology & Development Officer: Richard Chen
  • Chief of Staff: Jammy Xu
  • Chief Auditor: Wilson Wu

Share holders

  • WEI FAMILY(33.6%)
  • Sanyo Foods Co., Ltd. (Tokyo)(33.5%)
  • Genesis Investment Management LLP(2.6%)
  • OppenheimerFunds, Inc.(1.7%)
  • Eastspring Investments (Singapore) Ltd.(1.1%)
  • Invesco Hong Kong Ltd.(1.0%)
  • Hermes Investment Management Ltd.(0.9%)
  • The Vanguard Group, Inc.(0.7%)
  • Norges Bank Investment Management(0.6%)
  • BlackRock Fund Advisors(0.5%)

Address

  • Website: http://www.masterkong.com.cn
  • Address: 1688 Wuzhong Road, Minhang District, Shanghai, 201103, China
  • Phone: +852 2511 1911

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