HONG KONG -- The coronavirus pandemic has battered a wide variety of companies and industries across the globe, but makers of instant noodles have been an apparent beneficiary of countrywide lockdowns. With people in Asia the biggest consumers of the staple, manufacturers in the region are emerging as outperformers in an otherwise downbeat earnings season.
For Tingyi Holding, the mainland producer of China's top-selling Master Kong instant noodle brand, it has been a bumper year. Its first-half revenue rose 8% from the same period a year earlier to 32.93 billion yuan ($4.76 billion), while net profit soared 58.4% to a record 2.38 billion yuan.
