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. The Group's main business segments have established leading market shares in the PRC's food industry. According to AC Nielsen December 2020 data, based on sales volume, in 2020, the Group was the market leader in instant noodles and ready-to-drink teas (incl. milk tea), having gained 43.7% and 43.6% market shares, respectively. In the overall juice drink market, the Group gained 17.3% market share, ranked No.2. According to GlobalData December 2020 data, based on sales volume, Pepsi carbonated soft drinks had 33.4% market share and held a second position. After years of hard work and accumulation, "Master Kong" has become one of the best-known brands among consumers in the PRC.
Being a leading brand in the fast moving consumer goods industry, Master Kong has to hold the industry responsibility of food safety and quality guarantee. The Group constantly builds and improves management system, establishes risk prevention management system, implements entire control over food safety and ensures product quality and safety. We will constantly strive for product quality and food safety, as well as provide consumers with safe, tasty and healthy food products.
The Group distributed its products throughout the PRC through its extensive sales network consisting of 365 sales offices and 236 warehouses serving 47,898 wholesalers and 210,366 direct retailers as of 31 December 2020. This extensive sales network is a significant contributor to the Group's leading market position and it enables the Group to introduce new products rapidly and effectively.
The Company was listed on The Stock Exchange of Hong Kong Limited in February 1996. Market capitalisation as at 31 December 2020 was US$9.6 billion. The Company is a constituent stock of Morgan Stanley Capital International (MSCI) China Index and Hang Seng China (Hong Kong-listed) 100 Index.
Focused on food manufacture, sales and distribution business, the Group will continue to strengthen its logistics and sales network in the PRC with target of becoming "The largest Group for Chinese Instant Food & Beverage in the World".
updated as per Annual Report 2020
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