PUCHONG, SELANGOR MALAYSIA, Sept 25, 2023 – (ACN Newswire) – The culinary world of Malaysia is about to get a spicy kick with the grand opening of Kawkki Korean Flaming Chicken (“Kawkki”) yesterday’s afternoon. Situated in the bustling IOI Mall Puchong, Kawkki aims to be more than just another restaurant. With an array of traditional and modern Korean flavours, the establishment offers a culinary journey that showcases both the rich cultural heritage of Korean cuisine and the vibrancy of contemporary culinary innovations.

A Fusion of Tradition and Modernity

Kawkki takes pride in its expansive and carefully curated menu that bridges the gap between traditional favourites and cutting-edge culinary innovations. The restaurant offers a gamut of Korean dishes, each one a testament to the rich tapestry of flavours that define Korean cuisine. From timeless classics to contemporary creations like Spicy Tteokbokki and Cheese Snow, Kawkki elevates gastronomic excitement to unprecedented heights. Notable signature dishes include:

A Culinary Saga of Tradition, Innovation, and Team Excellence

Situated in the vibrant community of Puchong, Kawkki’s wide-ranging menu serves as an intricate tapestry that narrates the rich history of chicken in Korean cuisine. This includes milestones from the American rotisserie influence of the 1960s to the cultural footprints left by KFC and K-Pop.

Present at the launch included President of Malaysian United Democratic Alliance (Muda), YB Syed Saddiq; Entrepreneur Inspirer Datuk Wira Calvin Khiu, and Founder and Chief Executive Officer of Kawkki Ben Kuan.

Ben Kuan said, “Our expert culinary team ensures a meticulous preparation process within 48-hours for each dish, encapsulating a unique blend of spices and the essence of Korean cuisine. With a well-rounded vision to bring the best Korean Flaming Chicken to our diners and strong execution, Kawkki has become more than just a place to eat—it’s a culinary journey that beautifully merges tradition, innovation, and market acumen.”

A Space Beyond Dining: The Restaurant’s Layout

With an intimate setting designed for 100 patrons, the restaurant serves not just as a dining space but as a sanctuary that promotes communal enjoyment and appreciation of intricate Korean flavours.

Uncompromising Quality

Kawkki places an intense focus on quality, choosing only the freshest ingredients and employing the finest culinary techniques. Each dish aims to be a celebration of textures and flavours, meticulously crafted to provide an unparalleled dining experience.

Looking Ahead

As for future plans, Kawkki Korean Flaming Chicken is already eyeing expansion opportunities in Kuala Lumpur and Selangor. The brand is also open to business collaborations that align with its values and vision.

To discover more about this culinary marvel, Kawkki Korean Flaming Chicken opens its doors daily from 10 a.m. to 10 p.m. For further insights, follow @kawkki.asia on Instagram and Facebook.

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

HONG KONG, Aug 31, 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 the unaudited interim results for the six months ended 30 June 2023 ("Review Period").

During the Review Period, the overall business of the Group remained stable and healthy, and the Group continued to focus on creating value, improving risk management and control capabilities and enhancing operational efficiency, so as to boost the Group's revenue and profitability, as well as to seize the opportunities brought by the gradual restoration of the market's purchasing power. The Group has been committed to expanding its sales network, strengthening its R&D and adding innovative elements to its existing products, with an aim to introduce more diversified and healthier fruit products and specialty beverages to the market.

In the first half of 2023, the Group recorded steady progress in its sales performance and continuous improvement in its results achieving revenue of approximately RMB355.6 million and net profit of approximately RMB143 million, with gross profit margin improved to 28.1%. The overall financial condition remained solid. The Group also continued to comprehensively enhance its product mix, its own brand series and its operation capability, driving the sustainable development of the Company.

Leading high-quality development in the industry as a socially responsible enterprise
The Group is committed to upholding ESG principles for sustainable development in green products, talents, corporate governance, and green and low carbon development, and leading the industry towards quality development. Aligning with China's "dual carbon" target, the Group has fulfilled our corporate social responsibility. During the period, Mr. Yang Ziyuan, the Chairman and Chief Executive Officer of the Group, was awarded one of Forbes China's "2023 GBA ESG Entrepreneur 30". We aim to achieve our ESG development goals by fully integrating ESG elements into our operations and business development and collaborating with our stakeholders.

Own Brand Winning Positive Reviews and Successful Launch of New Beverage Series
With the increasing awareness of public health, the market demand for sports beverages is on the rise. In light of this, the Group has successfully developed vitamin sports beverages with fruit granules and fruit enzyme sports beverages, offering consumers with high-quality sports drink products for nutritional supplementation and maintaining physical health. The Group successfully held the "New 'Shiok Party' Fresh Fruit Sports Beverage Series Launch Event and Beverage Tasting Activity in Greater China" in May this year. The event was supported by accomplished guests and renowned sports superstars. This is an important step for the Group to bring high-quality and healthy sports beverages to the Chinese sports beverage market.

The Group successfully launched a new series of "Shiok Party" fresh fruit sports beverage, which fully upgraded the "Shiok Party" products in terms of flavour, taste and packaging and has become the first sports beverage product in the market that contains fruit granules. Products are made based on the theory of modern nutriology and sports medicine, providing nutritional supplementation to consumers and keeping them healthy. It is believed that the product will lead a new trend in China's fresh fruit sports beverage products, demonstrating the Group's outstanding performance in technological innovation.

As a company that has continuously won the title of National High-Tech Enterprise, the Group is actively exploring new product lines, enriching product mix and enhancing the technological level of food production by comprehensively promoting product R&D and innovation. The Group aims to offer high-quality and diversified products to consumers in China and abroad, as well as to realize business growth. The Group's series of own brand products have successfully gained a good reputation in the market, achieving impressive results. Meanwhile, in order to cope with the ever-changing market demand and cater for the needs of consumers, we continue to boost the brand image of the Group's own brand, enhance its product quality, upgrade the packaging of products and introduce more fashion and leisure elements to the products, with an aim to provide consumers with more diversified and trendy packaged products, as well as de-seasonal products, while enriching our product lines. In addition, the Group seized the opportunity to cultivate and optimize marketing layout by strengthening its interaction with consumers through various promotional activities and exhibitions, as well as boosting the image of its own brand and product sales.

Capacity Expansion and Successfully Launched New Beverage Series
In order to cater for the increasing market demand, the Group has been actively planning the expansion of production capacity, of which the production base in Shandong has been continuously improving its production facilities and enhanced automation. The newly built No. 5 and No. 6 production workshops have gradually been put into operation, which will significantly enhance the production capacity of the Group. In addition, it is expected that the Group's Yunnan production base in Mile Green Food Processing Park of Honghe Prefecture will start to be put into partial use by the end of 2023. It is expected that after Yunnan production base is completed and put into production, it can achieve synergies with Shandong production base to greatly enhance the production and sales of the Group's tropical, subtropical and temperate processed fruit products and specialty beverages.

During the period, we have been, and are continuing to, research on and develop new processed fruit products and specialty beverages, in order to satisfy and suit the tastes and demands of different consumer groups, particularly the younger consumers. Various new products are in the preparatory stage of production and sales.

Mr. Yang Ziyuan, Chairman and CEO of the Group said, "We believe that Tianyun International's new 'Shiok Party' series of fresh fruit sports beverages will create a national sports drink brand with influencing power on the international level. It will bring to the market quality products with distinctive features and a brand image that embodies Chinese characteristics. This will enable more consumers to recognize, understand, and love 'Shiok Party' as a trendy national brand."

"At the same time, we have been actively seeking strategic cooperation opportunities, anticipating collaborations with well-known brands, popular e-commerce platforms, online celebrities, and other channels and platforms. Through diversified marketing campaigns, we aim to jointly develop sales channels for our own brand products, increase brand awareness, create a high-potential online and offline sales network, and actively promote the culture of sports and healthy eating. These efforts will further broaden the Group's sources of income, explore new market opportunities, and strengthen the overall competitiveness of the Group."

"Looking forward, the Group will continue to invest in product research, development and innovation; capture the ever-changing market demand for specialty beverages; offer diversified and healthy specialty beverages and snacks for consumers, striving to become a leading international food and beverage enterprise so as to give back to society and consumers in return for their support to and trust in the Group."

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 and (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" 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, HALAL, SC, KOSHER, ISO9001, ISO45001, ISO14001, SMETA. 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.

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 for consecutive four years. In 2020, the Group was also recognised as one of the Most Valuable Chinese Brands for the fourth consecutive year. In 2023, the Chairman and CEO of the Group was selected as one of the "2023 Top 30 ESG Entrepreneurs in the Greater Bay Area" by Forbes China.

For more information, please visit www.tianyuninternational.com


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

HONG KONG, Aug 30, 2023 – (ACN Newswire) – Nissin Foods Company Limited ("Nissin Foods" or the "Company", together with its subsidiaries, the "Group"; Stock code: 1475) has announced its unaudited interim results for the six months ended 30 June 2023 ("the reporting period").

The Group recorded revenue of HK$1,929.3 million for the reporting period. Gross profit grew by 1.9% to HK$658.3 million, boosting gross profit margin by 2.7 percentage points to 34.1% in 2023 from 31.4% (restated) in 2022. The increase in gross profit margin was mainly attributable to the price adjustments implemented in both Hong Kong and Mainland China in 2022 to offset the surge in manufacturing costs, as well as the easing of the key raw material costs.

Profit attributable to owners of the Company increased by 6.4% year-on-year to HK$171.7 million, improving the net profit margin from 7.9% to 8.9%. Profit and profitability improved over the same period last year mainly due to the implementation of price adjustments to offset the leap in production costs and the profit contribution from the acquisition of minority interests in Zhuhai Golden Coast Winner Food Products Limited last year. The Group's basic earnings per share for the reporting period increased to 16.45 HK cents.

The financial position of the Group remained healthy, with net cash of approximately HK$1,138.0 million and HK$820.0 million in available banking facilities as at 30 June 2023. The Group had no external borrowing as at 30 June 2023.

Review & Prospects of Instant Noodles and Non-Noodles Businesses
During the reporting period, revenue from Hong Kong and other Asia operations was HK$751.5 million. Its segment results jumped by 26.8% to HK$56.0 million. Meanwhile, for Mainland China operations, revenue of HK$1,177.8 million was recorded for the reporting period, and its segment results amounted to HK$160.6 million. Excluding the foreign currency impact, both segment results improved due to the implementation of price adjustments and the easing of raw material costs.

To drive the instant noodles business, the Group has continued to implement the premiumisation strategy and launch new products to enrich the portfolio. New flavours have been introduced to the "Cup Noodles", "Raoh", "Nissin U.F.O", "Fuku" and "Doll" brands to encourage additional consumption. During the reporting period, the Company offered three premium Japanese flavours of "Cup Noodles" Regular Cup to consumers. To provide consumers with an exciting and enjoyable experience, the Company collaborated with Japanese anime "Jujutsu Kaisen" and "Onmyoji" to launch crossover "Cup Noodles" products respectively in Hong Kong and Mainland China.

The diversification of the portfolio into non-noodles business continues and has reinforced a solid foundation for the Group to overcome adversity. During the reporting period, the Company has further expanded its exposure in various distribution channels to meet the intensified competition in the frozen food industry, while the strategy in Mainland China seems to be effective as the sales volume of frozen food products recorded satisfactory growth. The distribution business in Hong Kong recorded a substantial rebound during the first half of 2023 owing to the easing of pandemic and the revival of economic activities alongside with gradual pick-up in the number of tourist arrival. On top of it, the Company has also completed the acquisition of Hong Kong Eastpeak Limited, which wholly-owns Eastpeak Trading (Shanghai) Co., Ltd., thereby expanding the Group's distribution network in Mainland China. In addition, the performance of the "Kagome" business was outstanding following the relaxation of pandemic restrictions, and its products received remarkable consumer response from new markets in Southeast Asia. "Aojiru", a Japanese vegetable drink made from kale, has been strategically added to our portfolio to capture the health-conscious consumers in Mainland China. The Group also saw the sales volume of "Nissin Granola" grow progressively in overseas markets, with a new flavour added to enhance the product collection during the reporting period. In addition, the fresh-cut vegetables business has shown a rising demand and the distribution channels continued to expand ranging from supermarkets to restaurants, cafeterias and coffee shops.

Mr Kiyotaka ANDO, Executive Director, Chairman and Chief Executive Officer of Nissin Foods, said, "The consumer market remains a competitive landscape. We are pleased to see that the strategic initiatives implemented earlier in our business have started to gain positive results, demonstrating outstanding foresight and management capabilities of our management team.

"Our outlook remains cautiously optimistic. To address the future challenges, we will continue to roll out more premium products to delight consumers and pursue further diversification of the business portfolio to non-noodle business. In Mainland China, we will carry on the geographic expansion strategy to penetrate into more areas alongside the development of additional sales channels. In addition, we believe that the acquisition of Nissin Vietnam will enable the Group to explore more market opportunities for premium instant noodles products in Vietnam. Going forward, Nissin Foods will continue to reinforce its overall competitiveness through a well-diversified product portfolio and premiumization strategy, while increasing brand recognition in the operating regions to create long-term value for our customers and shareholders."

About Nissin Foods Company Limited
Nissin Foods Company Limited ("Nissin Foods", together with its subsidiaries, 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, primarily focusing on the premium instant noodle segment. The Group officially established its presence in Hong Kong in 1984 and is the largest instant noodle company in Hong Kong. The Group primarily manufactures and sells instant noodles, high-quality frozen food products, including frozen dim sum and frozen noodles, and also sells and distributes other food and beverage products, including retort pouches, snacks, mineral water, sauce and vegetable products under its two core corporate brands, namely "NISSIN" and "DOLL" together with a diversified portfolio of iconic household premium 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, Aug 29, 2023 – (ACN Newswire) – Dynasty Fine Wines Group Limited ("Dynasty" or the "Group") (Stock Code: 00828), a premier grape winemaker in China, today announced its unaudited interim results for the six months ended 30 June 2023.

During the period, the sales, especially in the middle-end wine products, were recovered, as a result of the normalization of consumption scenes and the resumption of consumer sentiment in Mainland China after the dismantlement of pandemic control measures at the end of last year. Therefore, in the first half of 2023, the Group's revenue increased by 27% to HK$128.2 million, compared to the same period last year, whereas profit attributable to owners of the Company remained at HK$10.7 million. Gross profit margin decreased to 37% from 40% in the first half of 2022, as material costs and delivery charges increased during the period.

Benefiting from the resumption of consumption scenario such as banquets and gatherings nationwide, sales of red wine products grew well over the period, reaching the sales level of white wine products. Both red and white wine products served as the Group's major revenue contributors, each accounting for approximately 48% of the Group's revenue for the period. Gross margin of red wine products and white wine products were 31% and 45% respectively (2022 1H: 35% and 44% respectively).

The Group produces a wide range of more than 100 wine products under the "Dynasty" brand. It has been actively pursuing innovation, creating the most competitive products, and embracing the "5+4+N" product strategy. The Group's "5" key series of products comprise the air dry series, seven-year reserve series, merlot series, classic series and best-selling series, which cover fully the price range of mainstream markets, whereas the "4" advantageous product categories include dry red wines, dry white wines, brandy and sparkling wines, which enlarge vertical market shares for the Group. Furthermore, the Group boasts the development of "N" kinds of customized products to meet the diversified needs of Chinese consumers.

With China chic on the rise, the Group has launched the "China Chic" series, a series of new high-end products, to further strengthen the recognition of the Dynasty brand and attract mainstream consumer groups fancying China-made products and China chic. The flagship product of this series is the "Dynasty Chinese Zodiac Commemorative Dry Red Wine for the Gui Mao Year of Rabbit," which integrates high quality with Chinese zodiac culture, resonating with Chinese consumers' cultural confidence. Additionally, to satisfy the needs of customer groups with different consumption habits, the Group has launched the Dynasty NIANHUA series, priced between RMB100 and RMB500. Furthermore, with leading and well-proven technologies it has developed, the Group carried out a comprehensive upgrade of production techniques and packaging design of its Golden Dynasty products.

In addition, the Group sold chateau wines imported from France and other foreign-branded wines in China through the Group's existing distribution network. In that way, the Group introduced classic "old world" and "new world" varietals to cater to the consumer group preferring the taste of foreign premium wines.

The Group's overall business potential has been enhanced through online platforms. On one hand, the e-commerce team of the Group comprehensively operated online stores itself on traditional e-commerce platforms, such as JD.com, Tmall and Pinduoduo for product sales. On the other hand, the Group made comprehensive innovation on its brand, product categories, business systems, procedures and models via new retail platforms, including East Buy, RED, Kuai and TikTok. These efforts facilitated the Group's autonomous brand communications so that it could enhance effective market penetration of the Group's products in the young consumer group. Meanwhile, the e-commerce team also actively cultivated e-commerce live broadcasting talents to expand its sales channels further and establish a new customer base. The Group continues putting resources into the improvement of the online sales channels and optimisation of the online stores' interface. During the period, the e-commerce sales grew significantly and reached the level of the whole year of 2022.

Production of quality wines greatly depends on the sufficient supply of quality grapes or grape juice. Currently, the Group has more than 10 major grape juice suppliers with whom the Group has enjoyed long-term relationships, mainly located in Tianjin, Hebei, Ningxia and Xinjiang. To ensure reliable supplies of quality grapes and grape juice, the Group continues to actively work with vignerons and equip their vineyards with state-of-the-art techniques for assuring quality. During the period, the Group also enhanced its industrial footprint, and procured quality grapes and grape juice from premium vineyards through setting up subsidiaries in Ningxia and Xinjiang, so as to raise the supply of the Group's products.

Mr. Wan Shoupeng, Chairman of Dynasty, concluded, "Looking ahead to the second half of 2023, Dynasty will kick off the development of the first phase of a winery near the Eastern foot of Helan Mountain in Ningxia, named TianXia Winery. The winery will integrate pressing, fermentation, processing, testing and research and development as a whole, with an annual production and processing capacity of 5,000 tonnes. It will become a new business growth driver of the Group and help to perfect the regional layout for the Group's grape wines. The Board currently remains cautiously optimistic on the business in the second half of 2023. It will continue to focus on product quality, reshape the consumption scene and guide market consumption, in order to create Dynasty as the representative brand of China's grape wines and Dynasty grape wines as the most signature products."

About Dynasty Fine Wines Group Limited
Dynasty Fine Wines Group Limited was listed on the Main Board of The Stock Exchange of Hong Kong Limited with the stock code 00828 on 26 January 2005. Founded in 1980, Dynasty is the premier grape winemaker in China. It is principally engaged in the production and sale of grape wine products under its reputable "Dynasty" brand. Dynasty is the first Sino-foreign joint venture wine company in China with Tianjin Food Group Limited and the French grape wine giant, Remy Cointreau, as its major shareholders. The Group produces and sells more than 100 grape wine product series, and introduces imported wine products, providing high-quality and value-for-money grape wines to the full range of consumer groups in China.


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

HONG KONG, Aug 29, 2023 – (ACN Newswire) – Weilong Delicious Global Holdings Ltd ("Weilong" or the "Company") (Hong Kong stock code: 9985.HK) announced its unaudited interim results for the six months ended 30 June 2023 (the "Reporting Period").

As the impact of the Covid-19 gradually wanes, the consumption scenarios are constantly improving, and the consumption conditions are constantly getting better. China's economy is steadily recovering and returning to normal operations. As a leader and pioneer in the spicy snack food industry in China, Weilong is not only dedicated to enhance research and development ("R&D") capabilities, intensively cultivate existing product categories and expand product portfolio but also actively explored the snacks specialty retailer channel, expanded the nationwide sales and distribution network and deepening development of online channels, through youth-oriented brand marketing to enhance interaction with young consumers and establish closer connection with consumers.

Weilong's performance was solid during the Reporting Period, recording a revenue of RMB2,327.3 million, representing a year-on-year (YoY) increase of 3.0%, primarily due to (i) the Group making structure adjustments to its main products and upgrading its operations in the Previous Year, initial results in the Reporting Period have been achieved due to these adjustments and upgrades; (ii) a drop in the consumer flow of offline traditional channels and channels of hypermarkets and supermarkets during the Reporting Period and (iii) an increase in the average selling price resulted from the Group's structural adjustment of main products in the Previous Year, which was partially offset by a decrease in the sales volume of the products. Gross profit increased by 28.4% YoY to RMB1,106.2 million and gross profit margin improved to 47.5% from 38.1% in the same period last year, mainly due to (i) an increase in the average selling price resulted from the Group's structural adjustment of main products in the Previous Year; (ii) a decrease in the price of raw materials during the Reporting Period; and (iii) the optimization of the Group's cost management by streamlining production process continuously. Net profit of RMB447.1 million was up 271.4% YoY. Adjusted net profit increased by 17.0% YoY to RMB497.0 million and adjusted net profit margin improved to 21.4% from 18.8% in the same period last year mainly due to the increase in gross profit.

Based on the Group's surplus and overall financial conditions, the Board has resolved to the distribution of an interim dividend of RMB0.12 (tax inclusive) per share, representing approximately 60% of the net profit of the Group for the Reporting Period. The dividend is expected to be paid on or about October 12, 2023.

During the Reporting Period, on the product side, the Group adhered to the strategy of "multiple categories and large single product", continued to expand our product portfolio through years of research and development and innovation to respond to changing market conditions and consumer preferences quickly.

In terms of channel, Weilong continued to strengthen the offline sales strategy of "sales support and sales assistance" to further enhance the coverage and the execution quality of POS. With the quick rise of the new channel of snacks specialty retailers across China, the Group actively launched customized products targeting this new channel of snacks specialty retailing in the hope of seizing the development opportunities brought by such new channel more effectively.

On the branding front, the Group continuously strengthens brand building through brand activities centering around young consumers and conducts consumer research and interaction to actively explore improvements of brand awareness and reputation, combined with in-depth online content marketing to enhance user engagement, so as to provide consumers with better product experience.

Mr. Liu Weiping, Chairman of the Board of WEILONG, commented, "In the face of the diversified changes in the sales channels of China's snack food industry, new channels such as snacks specialty retailers and content e-commerce platforms are continuing to increase in traffic. Weilong will actively embrace the development opportunities brought by new channels with a more proactive and open mindset. At the same time, the Group will continuously strengthen product building and brand building, refine and improve the Group's product portfolio and the Group's brand awareness and reputation. The Group will continue to consolidate its manufacturing capabilities and R&D capabilities, enhance organizational capabilities and the construction of digital intelligence to improve its overall operational efficiency and consumer experience. Finally, the Group will stay true to its original aspiration and mission, striving to maximize returns for consumers, clients, shareholders, investors, employees and the society."

About Weilong Delicious Global Holdings Ltd
WEILONG Delicious Global Holdings Limited ("WEILONG") is an all-in-one spicy snack products enterprise, leading in the research and development, production, processing, and sales of spicy snack foods in China. With strong growth momentum and a highly influential brand, WEILONG has been committed to transforming the traditional food into a more entertaining, casual, and convenient format that is also affordable. Since pioneering the first spicy snack in 2001 and leading the construction of industry standards to this day. Our goal is to create delicious casual food and enjoyable consumer experiences for our customers. With its outstanding "multiple categories and large single product" strategy and category expansion capabilities, WEILONG has successfully expanded into categories such as vegetable products, bean products, and other products, launching single products such as "Konjac Shuang", "Fengchi Kelp", and "78 Degree Celsius Braised Eggs". WEILONG is a popular snack food brand among young Chinese consumers and has won several marketing awards. In 2023, WEILONG won the "Top Digital Innovation Marketing Award – Content E-commerce Special Award" and "The 14th Tiger Roar Awards – Social Media Marketing (Bronze)". For more information, please visit https://www.weilongshipin.com/


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

HONG KONG, Aug 23, 2023 – (ACN Newswire) – Tingyi (Cayman Islands) Holding Corp. (0322.HK, "Master Kong" or the "Company", together with its subsidiaries, the "Group") is pleased to announce its interim results for the six months ended 30 June 2023. The Company's fundamentals demonstrated exceptional resilience, with sustained growth in its two primary business lines of instant noodles and beverages. The Group's revenue reached RMB40.907bn, an increase of 7.04% year-on-year. Revenue from instant noodles increased by 2.97% year-on-year, while revenue from beverages increased by 9.50% year-on-year. The gross profit margin increased to 30.47%, up 2.25 percentage points year-on-year. Profit attributable to shareholders of the Company increased by 30.66% year-on-year to RMB1.638bn. Basic earnings per share increased by RMB6.82 cents to RMB29.07 cents.

In the first half of 2023, the macro environment continued to improve, everyday economic activity returned to normal and the government gradually implemented various policies and measures to expand consumption, generating positive impacts on the overall consumer goods industry. Chinese consumers exhibited more rational behavior, with an increasing demand for healthy products. In the first half year, Master Kong continued to prioritize its strategic focus on "Serving Consumers Comprehensively and Perfectly", and upheld its key strategies of "Consolidate Core Businesses" and "Drive Innovative Businesses". Placing the consumer at the center, the Company comprehensively met consumers' diversified demands by improving the competitiveness of its brand, products and channels.

In the first half of 2023, the Group's revenue from the instant noodle business was RMB13.95bn, representing year-on-year growth of 2.97%, and accounting for 34.10% of the Group's total revenue. During the period, the gross profit margin of instant noodles increased by 5.20 percentage points year-on-year to 25.83%, due to favorable selling prices and raw material prices. In the first half of 2023, as a result of the year-on-year improvement in gross profit margin, the profit attributable to shareholders of the Company in the instant noodle segment increased by 48.11% year-on-year to RMB806m. In the first half year, with the increase in population mobility, the instant noodle business leveraged its scale advantages and made a sustained effort to meet consumers' diversified demands with a varied offering in terms of price bands, flavors and sizes. Sales volume and market share both showed steady growth, positioning Master Kong at the forefront of the industry and driving overall recovery in the sector. During the period, Master Kong's instant noodle business emphasized consolidating its core products, promoting innovative new product flavors, and laying the groundwork for premium products. Taking advantage of its healthy operating status, the business intensified its channel development and brand investment efforts. The business also maintained its firm commitment to product quality and won the title of "China Space Program Support Supplies Partner" in the convenience food category.

In the first half of 2023, beverage consumption picked up across the board as consumers travelled more. Revenue from the beverage business was RMB26.606bn, representing year-on-year growth of 9.50%, and accounting for 65.04% of the Group's total revenue. The gross profit margin of beverages increased by 0.52 percentage point year-on-year to 32.66%. The profit attributable to the shareholders of the Company in the beverage segment increased by 18.06% year-on-year to RMB879m in the first half of 2023. During the period, the beverage business of Master Kong continued to take the advantage of its comprehensive product portfolio and seize the trend towards the consumer focus on health, launching sugar-free tea, sugar-free carbonated soft drinks, sugar-free coffee drinks, and other health-oriented products. Its efforts were geared consistently towards optimizing the product portfolio across multiple channels and consumption occasions. To capture demand in the peak season, capital expenditure to support outdoor consumption was moderately increased.

Mr. Chen Yinjang, Chief Executive Officer, commented, "Looking ahead to the second half of 2023, we maintain an optimistic outlook on the Chinese economy. Domestic circulation will remain the main engine of domestic economic growth going forward. Consumers will always be at the center of our operations, and we will leverage our scale advantage to consolidate our core businesses and develop innovative businesses, to strengthen our competitive advantage across the entire price range of instant noodles and the full beverage product portfolio. We expect to benefit substantially from the recovery of consumption scenarios, increased purchasing power and consumer focus on health. We will continue to invest in product research and development, brand building and channel expansion, maintaining a long-term perspective. Ensuring the operational safety and sustainable development of the Company will also remain a key focus. We will adopt a forward-looking approach, strengthen our core competitiveness, operate in a healthy manner, and create long-term value for both consumers and shareholders."

About Tingyi (Cayman Islands) Holding Corp. (0322.HK)
Tingyi (Cayman Islands) Holding Corp. (the "Company"), and its subsidiaries (the "Group") specialise in the production and distribution of instant noodles and beverages in the People's Republic of China (the "PRC"). The Group started its instant noodle business in 1992, and expanded into instant food business and beverage business in 1996. In March 2012, the Group further expanded its beverage business by forming a strategic alliance with PepsiCo for the beverage business in the PRC. The Company exclusively manufactures, bottles, packages, distributes and sells PepsiCo soft drinks in the PRC. After years of hard work and accumulation, "Master Kong" has become one of the best-known brands among consumers in the PRC.

For enquiries, please contact:
Investor Enquiries
Investor Relation Team, Tingyi (Cayman Islands) Holding Corp.
E-mail: ir@tingyi.com

Christensen China Limited
E-mail: stephanie.chen@christensencomms.com
Tel: +852 2117 0861


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