HONG KONG, Mar 27, 2023 – (ACN Newswire) – Nissin Foods Company Limited ("Nissin Foods" or the "Company", together with its subsidiaries, the "Group"; Stock code: 1475) has announced its annual results today for the year ended 31 December 2022.

Results Highlights
— Revenue increased primarily attributable to the organic growth in sales volume of the Group's premium instant noodles throughout the year.
— Maintained a healthy financial position and recommended to declare a final dividend of HK15.16 cents per share.
— The acquisition of remaining 29.55% equity interests in Zhuhai Golden Coast Winner Food Products ("Zhuhai Winner") has given the Group more flexibility to deploy production capabilities in the Mainland China for responding to market demand and the changing business environment, and will in turn increase the overall income and profitability of the Group.

Revenue of the Group increased by 4.1% year-on-year ("YoY") to HK$4,025.0 million (2021: HK$3,866.3 million). Profit attributable to owners of the Group increased by 4.2% YoY to HK$316.5 million (2021: HK$303.8 million), representing a net profit margin of 7.9% (2021: 7.9%). The Group's basic earnings per share increased by 5.5% to 30.32 HK cents for 2022 (2021: 28.74 HK cents).

The Board recommends the payment of a final dividend of 15.16 HK cents per share (2021: 14.56 HK cents), representing a dividend payout ratio of 50.0% (2021: 50.7%) for the year.

Hong Kong Operations
Revenue from the Hong Kong operations increased by 7.4% YoY to HK$1,575.2 million (2021: HK$1,466.2 million), mainly attributable to the implementation of price adjustments and increase in sales volume of premium bag-type instant noodles but was partially offset by the decline in distribution business. Segment results amounted to HK$120.0 million (2021: HK$123.5 million). The decrease was mainly attributable to the continuous increase in logistics and storage costs throughout the year. Revenue from the Hong Kong operations accounted for 39.1% (2021: 37.9%) of the Group's revenue.

As the raw material prices soared during the first half year, the Group adjusted ex-factory product prices in two phases, which helped ease the rising pressures from climbing production costs and raw materials costs. Regarding the performance of instant noodles business, signature brands "Cup Noodles" and "Demae Iccho" attracted positive response from consumers after quality upgrade and sales volume of such products climbed. To further enrich its instant noodles portfolio, the Group launched different new flavours under the "Raoh", Nissin "U.F.O.", "Fuku" and "DOLL" brands. Along with tenets of innovation and creativity, a new W-tab design for regular type of "Cup Noodles" was launched, allowing better cup lid connection with container and greater eating convenience to consumers. Furthermore, a new membership programme "Nissin Foodium" was launched in Wechat Mini Program in Hong Kong in July 2022, aiming to retain existing consumers, boost product sales and allow the Group to better understand consumers' preferences.

On the non-noodle category, the Group's frozen foods business has achieved a decent growth notwithstanding the fierce competition. "KAGOME" business and granola has received remarkable response from new markets in Southeast Asia, especially granola, which has seen sales volume growing considerably in Taiwan and Singapore during the year. Moreover, fresh-cut vegetable business has shown a substantial rise in demand in 2022.

Mainland China Operations
Revenue from the Mainland China operations increased by 2.1% YoY (in local currency: 6.2%), rising from HK$2,400.2 million in 2021 to HK$2,499.8 million in 2022, due to geographical expansion and growth in sales volume of cup-type instant noodles, but is partially offset by a decline in distribution business. Segment results edged up by 4.8% YoY to HK$313.5 million (2021: HK$299.1 million), mainly attributable to the solid performance of instant noodles business, partly offset by the negative impact of the foreign exchange rate of Renminbi. Revenue from the Mainland China operations accounted for 60.9% (2021: 62.1%) of the Group's revenue.

During the year, the Group continued its geographical business expansion strategy in Mainland China and explored certain new markets in the Western and Northern regions of the country. The instant noodles business maintained a sales volume growth amid complicated business environment. The Group once again collaborated with a Japanese anime to launch limited-edition crossover packaging for "Cup Noodles". New SKUs from made-in-Hong Kong "Demae Iccho" brand have been made available in the Mainland China, offering consumers more premium choices. Moreover, new W-tab design for "Cup Noodles" and "Nissin Foodium" Wechat Mini Programme were introduced to consumers. In Mainland China, "Nissin Foodium" is also an e-commerce platform.

In November 2022, the Group acquired the remaining 29.55% equity interest in Zhuhai Winner, allowing it to consolidate control over Zhuhai Winner. The acquisition of remaining 29.55% equity interests in Zhuhai Winner has given the Group more flexibility to deploy production capabilities in the Mainland China for responding to market demand and the changing business environment, and will in turn increase the overall income and profitability of the Group.

Although the performance of joint venture distribution business in Shanghai has been inevitably affected during the year by lockdowns, the Group seized the opportunity from pandemic rampant to expand product categories, covering frozen and chilled food such as frozen pasta and ramen, resulting in a considerable growth in the sales volume of frozen foods. Furthermore, benefiting from consumers' rising awareness of health consciousness, the sales of "KAGOME" vegetable and fruit juice and granola products gathered stronger growth momentum.

Prospects
The Group is cautiously optimistic about the long-term business development in the regions and continues to look into ways to alleviate the cost pressure under this competitive landscape. Consumer consumption in the Mainland China continues to improve as per capita spending rises and the per capita income gap between urban and rural residents is narrowed. The Group plans to enlarge the connection with consumers at the locations with heavy flow of people such as retail outlets and transportation hubs, after the recovery of consumers' mobility from pandemic. Moreover, the Group continues to expand its business territory and penetrate into other areas alongside the development of additional sales channels. In Hong Kong, Nissin Foods expects tourism rebound following the border reopening of Mainland China will further revive the local economy, helping invigorate higher purchasing power and consumption sentiment.

To further consolidate overall competitiveness, the Group has been actively implementing automated, robotic and smart technology at its production plants to realise digitalisation for the purpose of improving operational efficiency, productivity, product quality and customer experience.

Mr Kiyotaka ANDO, Executive Director, Chairman and Chief Executive Officer of Nissin Foods, said, "We've gained valuable experience in adapting to challenging circumstances swiftly from the pandemic in the past three years. The pandemic has put our businesses through rigorous tests which in turn proves the resilience of our strategic direction towards flexible operational and management practices.

"Stepping into 2023, as anti-pandemic restrictions are lifted, the economy is expected to stage a visible rebound. In leveraging our solid foundation and footholds in Hong Kong and Mainland China, as well as the rich and diversified product portfolio that we have developed over time, Nissin Foods will adhere to its premiumisation strategy and provide good-quality food that delivers contentment and enjoyment to its valuable customers, while realising continuous and long-term growth."

About Nissin Foods Company Limited
Nissin Foods Company Limited (the "Group"; Stock code: 1475) is a renowned food company in Hong Kong and Mainland China with a diversified portfolio of well-known and highly popular brands and the largest instant noodle company in Hong Kong. The Group officially established its presence in Hong Kong in 1984. The Group primarily manufactures and sells instant noodles, frozen foods and other food products under its two core corporate brands, namely "NISSIN" and "DOLL" together with a diversified portfolio of iconic household premium food brands. The Group's five flagship product brands, namely "Cup Noodles", "Demae Iccho", "Doll Instant Noodle", "Doll Dim Sum" and "Fuku" are also among the most popular choices in their respective food product categories in Hong Kong. In the Mainland China market, the Group has introduced technology innovation through the "ECO Cup" concept and primarily focuses its sales efforts in first-and second-tier cities.

Nissin Foods is a constituent of eight Hang Seng Indexes, namely: Hang Seng Composite Index, Hang Seng Consumer Goods & Services Index, Hang Seng Stock Connect Hong Kong Index, Hang Seng Stock Connect Hong Kong MidCap & SmallCap Index, Hang Seng Stock Connect Hong Kong SmallCap Index, Hang Seng SCHK Mainland China Companies Index, Hang Seng SCHK ex-AH Companies Index, and Hang Seng Small Cap (Investable) Index. Nissin Foods is eligible for trading under Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect. For more information, please visit www.nissingroup.com.hk.


Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

HONG KONG, Mar 24, 2023 – (ACN Newswire) – Tianyun International Holdings Limited ("Tianyun International", together with its subsidiaries, the "Group") (Stock code: 6836.HK) a leading seller and manufacturer of processed fruits products in China, is pleased to announce its audited annual results for the year ended 31 December 2022 ("Year Under Review"). Being a consumer goods company, the annual results of the Group demonstrate stable revenue and profit, and showcase successful achievements in R&D and innovation, introduction of new product categories, enhancement of brand reputation, expansion of production capacity planning, sales network, and development strategies for the future. The Group recorded a revenue of approximately RMB680.7 million, a gross profit of approximately RMB189.8 million and a net profit of approximately RMB96.6million, with gross profit margin improved to 27.9%. In view of the Group's strong overall financial position and the steady improvement in its core competitiveness of the business, the Board recommends a final dividend of HK$0.05 per share for 2022.

Being a role model for the industry with award-winning quality
Shandong Tiantong Food Co., Ltd. ("Shandong Tiantong Food"), a wholly-owned subsidiary of the Group, was awarded the "Certificate of High-tech Enterprise" by the Shandong Provincial Department of Science and Technology, the Shandong Provincial Department of Finance and the Shandong Provincial Taxation Bureau of the State Administration of Taxation and will continue to enjoy the preferential policies of the State on income tax exemption for high-tech enterprises.

The Group also received the title of "Excellent Quality and Safety Management Enterprise" jointly awarded by Shandong Entry-Exit Inspection and Quarantine Association and other organisations. Meanwhile, Shandong Tiantong Food received the honorary titles of "Social Responsibility Model" and "Advanced Enterprise of Outstanding Contribution" of the canned food industry for the Thirteenth Five-year Plan as well as "Top 10 Enterprises (Export)" in China's canned food industry by the China Canned Food Industry Association ("CCFIA")., in recognition of the Group's outstanding contribution in the three-year special campaign to build a brand in China's canned food industry. Moreover, the Group was once again selected as a 2022 municipal-level "Specialized, Excellent, Featured and Innovative" Enterprise by the Linyi Municipal Bureau of Industry and Information Technology. The above honours represent a tremendous recognition of the Group's comprehensive strength.

Enhanced marketing of own brands with new products widely recognised by the market
The Group has a series of own brands, including "Bingo Times", "fruit zz", "Tiantong Times", "Shiok Party" and "Demon Fruit Season", enabling it to enhance its brand image in an all-round manner. Progress has been made in various aspects such as product diversification, packaging diversification and production de-seasonalisation. Meanwhile, the Group has actively responded to the ever-changing consumer market, continuously improved product quality, upgraded product packaging, and incorporated more fashion and leisure elements. The Group also actively enriched its product series. The Group identified the recent rise in demand for canned yellow peaches in the market and responded by launching new product lines, such as "Chinese trend style" canned peaches, Zodiac-branded canned fruit products, and brown sugar canned pears. In addition, in response to the significant growth of the functional beverage market in recent years and the expansion of consumption scenarios, the Group developed a range of specialty beverages to enhance its competitiveness in this area and optimized its product offerings.

The Group capitalized on an opportunity to significantly refine its marketing strategy and bolstered its engagement with consumers by launching various promotional activities. These efforts have resulted in enhanced brand image and increased sales of its own brand products. Currently, the Group's own brand products are available for sale in 27 provinces, municipalities, and autonomous regions across China, and the Group continues to utilize a "online + offline" sales model. The Group has established a presence on several popular online shopping platforms as its primary sales channels and has also partnered with online live-streaming entertainment platforms during major events like "Double Eleven" and "New Year's Eve" to increase its market visibility, strengthen its brand promotion, and execute wide-reaching marketing campaigns. Looking forward, the Group plans to fully leverage on the advantages of digital technologies to further facilitate online sales of its own brand products.

Focus on OEM and the sales of fresh fruits business development
The Group's OEM business has exhibited steady development. Over the years, the Group has maintained close partnerships with globally renowned food brands and traders. Given the sustained demand for "Made in China" processed fruit products in foreign markets, the Group plans to actively seek out additional high-quality customers in developed countries and regions like Europe, Australia, New Zealand, Japan, the United Kingdom, the United States, and Canada, in order to expand its share in the international market.

The sales of Chinese fresh fruits always have advantages both locally and overseas, and the Group has accumulated many years of experiences in this regard. The Group plans to diversify its fresh fruit product portfolio and expand its sales network to other regions. In addition, the Group's Yunnan production base is situated amidst plenty fruit resources, allowing the Group to source and process a greater variety of exotic fruits and vegetables from tropical regions. This, in turn, will provide consumers with a wider selection of high-quality, diverse fruit and vegetable products.

Actively research and develop new production techniques and construct new workshops and bases to expand production capacity
To enhance its production capacity and achieve sustainable growth, the Group has been actively investing in research and development of new products with independent core technologies, as well as continuously improving its production techniques. As a leading high-tech enterprise in the industry, the Group successfully developed two new specialty beverages during the review period: vitamin sports drinks with fruit pieces and fruit enzyme sports drinks. The vitamin sports drink is a beverage that contains fruit pieces processed from fruits, which can improve energy metabolism and alleviate fatigue. The fruit enzyme sports drink uses peaches, apples, and other raw materials to provide enzymes that meet daily nutritional requirements and is aimed at promoting better health. With the completion of R&D, the Group is entering the preparatory stage of production and sales for these two new products, which will soon be launched in the market, offering consumers more diversified choices.

The Group has been actively expanding its production capacity. The Shandong production base has made continuous improvements in its production facilities, increasing output and enhancing efficiency through automation. The installation of new production workshops No. 5 and No. 6 is nearly completed, which will significantly expand the production capacity of both new and existing processed fruit products. Additionally, the construction of the Yunnan production base began in 2022 and is expected to be partially operationalby the end of 2023. This is a significant step for the Group's development in China's tropical climate region, as it will comprehensively expand the Group's overall production capacity, improve logistics and warehousing, and offer customers a wider variety of processed fruit products and specialty beverages. The Yunnan production base will work in tandem with the Shandong production base to increase the production and sales of tropical, subtropical, and temperate processed fruit products and beverages.

Mr. Yang Ziyuan, Chairman and CEO of the Group said, "In the aftermath of COVID-19, as the world gradually reopens, the Group has focused on creating value, improving risk management, and enhancing operational efficiency. The Group aims to seize the opportunities presented by the restoration of normalcy by investing in R&D, developing new product categories, improving product packaging and design, and expanding its distributor network. These efforts will not only boost the Group's revenue and profitability but also provide customers and consumers with a greater variety of fruit products and specialty beverages. As the Group strengthens its capabilities and expands its investment in sales channels, it will prioritize diversified product categories and a robust brand portfolio as a core business strategy. Additionally, the Group will pursue domestic and international M&A opportunities and strategic partnerships to broaden its sources of revenue, promote a diversified development model, enhance its brand influential power, and reputation globally. By doing so, the Group will achieve sustainable growth and offer consistent and sustainable returns to its shareholders and investors."

About Tianyun International Holding Limited (Stock Code: 6836.HK)
Tianyun International Holdings Limited (the "Company") and its subsidiaries (collectively referred to as the "Group") are principally engaged in (i) the research and development, production and sales of processed fruit packaged in metal containers, plastic cups, glass containers and aluminum foil bags and beverages ii) trading of fresh fruit. Processed fruit products are sold both under its own brands "Bingo Times", "fruit zz" and "Tiantong Times" and on an OEM basis. The beverages are sold under its own brand Shiok Party "Shiok Party" and "Demon Fruit Season".

The Group has been consistently committed to providing its customers with healthy and safe products. As a food enterprise with one of the most complete quality certifications, we rigorously adhere to stringent international production standards and are accredited with BRC (A), IFS Food (High), FDA(FSMA), SC, KOSHER, SMETA and ISO9000, etc. in respect of our production facilities, quality control and management. The Group has also passed the internal food production standards reviews and audits from several UK and US supermarket chains. At the same time, as a Chinese "Equal production line; Equal standard; Equal quality" food production and export enterprise, the Group has been supplying products of consistent quality to domestic and international markets. Since 2016, the Group's own-brand processed fruit products have continued to achieve high market recognition, and have also been awarded the honor and qualification of "China Canned Product Quality Certification Label" by national associations.

The Group was awarded China's Most Promising Listed Companies by internationally-renowned financial magazine Forbes, and the "2017 Linyi Mayor Quality Award" by the PRC government in 2017. The Group's new and proprietary researched, developed and produced pure fruit snack food received a national "Certificate of Invention Patent" in 2018. In 2019 and 2022, the Group was awarded the national Hi-tech Enterprise Certificate consecutively. In 2020, the Group was recognised as one of the Most Valuable Chinese Brands for the fourth consecutive year.

For more information, please visit www.tianyuninternational.com


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