Tingyi (Cayman Islands) Holding Corp.
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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.
Business Summary
Financial Highlights
| Dec 2019 | HKD | USD |
| Revenue | 70,278.05M | 8,969.53M |
| Gross Profit | 22,398.30M | 2,858.67M |
| Operating income | 4,677.44M | 596.97M |
| Income before tax | 5,870.78M | 749.28M |
| Net income | 3,777.05M | 482.06M |
| EBITDA | 8,371.48M | 1,068.44M |
| Diluted EPS | 0.67 | 0.08 |
| Dividends Per Share | 0.65 | 0.08 |
| Total Assets | 64,833.41M | 8,320.72M |
| Total liabilities | 39,054.14M | 5,012.21M |
| Total equity | 21,900.50M | 2,810.71M |
| Operating cash flow | 9,533.42M | 1,216.74M |
| Currency in HKD | Currency in USD |
Historical Data
| Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | |
| Revenue | 70,570.20M | 64,986.22M | 67,978.84M | 71,879.34M | 70,278.05M |
| Gross Profit | 22,478.12M | 20,337.16M | 19,986.31M | 22,170.28M | 22,398.30M |
| Operating income | 5,409.55M | 4,364.92M | 4,474.28M | 5,498.54M | 4,677.44M |
| Income before tax | 3,655.32M | 2,885.95M | 3,912.11M | 4,713.33M | 5,870.78M |
| Net income | 1,987.29M | 1,373.05M | 2,097.55M | 2,917.69M | 3,777.05M |
| EBITDA | 9,555.87M | 8,755.18M | 8,531.71M | 9,312.27M | 8,371.48M |
| Diluted EPS | 0.35 | 0.24 | 0.37 | 0.51 | 0.67 |
| Dividends Per Share | 0.17 | 0.12 | 0.19 | 0.50 | 0.65 |
| Total Assets | 65,732.94M | 63,091.17M | 64,943.07M | 60,441.97M | 64,833.41M |
| Total liabilities | 35,551.83M | 36,190.43M | 38,180.29M | 33,515.36M | 39,054.14M |
| Total equity | 22,545.64M | 20,313.09M | 22,102.69M | 22,411.98M | 21,900.50M |
| Operating cash flow | 6,370.08M | 9,192.36M | 8,125.58M | 8,693.90M | 9,533.42M |
| Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | |
| Revenue | 9,102.81M | 8,371.86M | 8,723.26M | 9,171.15M | 8,969.53M |
| Gross Profit | 2,899.44M | 2,619.93M | 2,564.71M | 2,828.72M | 2,858.67M |
| Operating income | 697.77M | 562.31M | 574.15M | 701.56M | 596.97M |
| Income before tax | 471.49M | 371.78M | 502.01M | 601.37M | 749.28M |
| Net income | 256.34M | 176.88M | 269.16M | 372.27M | 482.06M |
| EBITDA | 1,232.60M | 1,127.88M | 1,094.81M | 1,188.16M | 1,068.44M |
| Diluted EPS | 0.04 | 0.03 | 0.04 | 0.06 | 0.08 |
| Dividends Per Share | 0.02 | 0.01 | 0.02 | 0.06 | 0.08 |
| Total Assets | 8,481.50M | 8,137.48M | 8,307.60M | 7,719.92M | 8,320.72M |
| Total liabilities | 4,587.24M | 4,667.83M | 4,884.07M | 4,280.73M | 5,012.21M |
| Total equity | 2,909.05M | 2,619.97M | 2,827.40M | 2,862.55M | 2,810.71M |
| Operating cash flow | 821.67M | 1,184.20M | 1,042.70M | 1,109.26M | 1,216.74M |
Valuation Measures
| Dec 2019 | |
| PER | 19.79 |
| ROA | 6.03% |
| ROE | 17.04% |
| Operating margin | 6.65% |
| Profit margin | 5.37% |
Key executives
- Chief Executive Officer: Chun-Hsien Wei
- Chief Financial Officer: Kuo Wei Liu
- Chief Research & Development Officer: Richard Chen
- Chief Administrative Officer: Jammy Xu
- Chief Customer & Marketing Officer: Joey Chen
Shareholders
- Sanyo Foods Co., Ltd. (Tokyo) (33.4%)
- WEI FAMILY (33.4%)
- The Vanguard Group, Inc. (1.0%)
- Massachusetts Financial Services Co. (0.9%)
- Eastspring Investments (Singapore) Ltd. (0.9%)
- Hermes Investment Management Ltd. (0.7%)
- BlackRock Fund Advisors (0.5%)
- Dimensional Fund Advisors LP (0.5%)
- Norges Bank Investment Management (0.4%)
- LGM Investments Ltd. (0.3%)
Contact Details
- Website:http://www.masterkong.com.cn
- Address: 1688 Wuzhong Road, Minhang District, Shanghai, 201103, China
- Phone: +852 2511 1911
Related Companies
- Master Kong Beverage Investment (China) Co., Ltd.
- NanJing Tingyi Food Co., Ltd.
- Master Kong Instant Foods (BVI) Co. Ltd.
- Tingtong (BVI) Ltd.
- Tingyi (BVI) Int'l Co., Ltd.
- Fumanduo Investment Co., Ltd.
- Master Kong (Shenyang) Convenient Food Co., Ltd.
- Master Kong Beverages (BVI) Co. Ltd.
- Tianjin Tingyu Consulting Co., Ltd.
- Yangzhou Tingjin Food Co. Ltd.
- Tingquan (Cayman) Holding Ltd.
- China Dingya Holding Ltd.
- Master Kong Instant Foods Investment (China) Co., Ltd.
- Fujian Tingjin Food Co., Ltd.
- Shanghai Tingtong Logistics Co. Ltd.
- Tingyi-Asahi Beverages Holding Co., Ltd.
- Wuhan Tingyi Food Co. Ltd.
- Tianjin Tingyuan Food Co., Ltd.
- Chongqing Tingjin Food Co., Ltd.
- Xi'an Tingjin Food Co., Ltd.
- Qingdao Tingjin Food Co., Ltd.
- Chuan-Kang Co. Ltd.
- Kang Chun Co. Ltd.
- Tingtong (Cayman Islands) Holdings Corp.
Competitors
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Last Updated on 28 Oct, 2020
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