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Master Kong

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(Redirected from Tingyi)
For other uses, see Master Kong (disambiguation).
Tingyi (Cayman Islands) Holding Corporation
Tingyi (Cayman Islands) Holding Corporation
頂益（開曼島）控股有限公司; Dǐngyì（Kāimàn dǎo）Kònggǔ Yǒuxiàngōngsī
Native name
康師傅控股有限公司
Company typePublic company
SEHK: 322
TWSE: 910322
IndustryFoods
Founded1991
Headquarters
Shanghai
Tianjin
Area served
China
Key people
CEO Wei Junxian[1]
Productsinstant noodles, beverages, baked goods, soft drinks, bottled water
ParentTing Hsin International Group (33.48%)
Sanyo Foods Co., Ltd (33.48%)
Websitewww.masterkong.com.cn

Master Kong (simplified Chinese: 康师傅控股有限公司; traditional Chinese: 康師傅控股有限公司; pinyin: Kāng-shīfu Kònggǔ Yǒuxiàngōngsī) is the largest instant noodle producer in China.

Established in 1991, Master Kong is a branded company headquartered in Shanghai and Tianjin. It specializes in the production and distribution of instant noodles,[2] beverages, cakes, and relevant supporting industries. In 1996, it was listed in Hong Kong and is currently constituent of MSCI China Index and the Hang Seng China 100 Index.[3]

In 2019, Master Kong achieved revenue of 61.978 billion yuan, a year-on-year increase of 2.13%; achieved net profit of 3.331 billion yuan, a year-on-year increase of 35.22%.[4] According to Nielsen, the sales volume of Master Kong instant noodles in 2019 accounted for 43.3% of market shares, ranking first in the market.[4] According to Kantar, in 2019, Master Kong's juice ranks second in juice market penetration. Meanwhile, the penetration of Master Kong RTD tea reached 38%, 10 percentage points higher than the second.[4]

In November 2011, Master Kong and PepsiCo established a strategic alliance for the production and sales of all non-alcoholic beverages in China.[5] In March 2015, Master Kong and Starbucks officially entered into cooperation agreement for the production and sales of Starbucks bottled and canned ready-to-drink products in China.[6]

In June 2018, Master Kong was shortlisted in the national brand project of Xinhua News Agency.[7]

History

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The company was founded in Tianjin by the Wei brothers from Changhua County, Taiwan in 1991.[8] It was listed on the Hong Kong Stock Exchange in 1996.[9]

It is owned 33.48% by Ting Hsin International Group[10] and 33.48% by Sanyo Foods.

In March 2011, Unilever was fined 2 million Yuan for the distribution of information about future price hikes and Tingyi was given a warning about publicly discussing their price increases.[11]

In June 2011, Master Kong[12] was recognized by market research firm, TNS, to be the second most valued brand in China.[13]

As of 2013, its main competitors are Want Want China and Uni-President.[2]

In 2014, Master Kong was facing the food safety problem in Taiwan.[14]

In 2015, Master Kong stopped distributing its instant noodles in Taiwan. The group's board of directors has approved a plan to completely withdraw from the Taiwanese market.[15]

See also

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References

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  1. ^ 2018 Cross-Strait New Economic Forum held in Beijing. Xinhua News Agency. 2018-09-20.
  2. ^ a b "China's Tingyi Q1 profit falls 47 pct as sales slow". Reuters. 20 May 2013. Archived from the original on 2 September 2014. Retrieved 2013-05-30.
  3. ^ "康师傅介绍". www.masterkong.com.cn. Retrieved 2020-03-29.
  4. ^ a b c ""免疫力"成康师傅年报亮点：2019年多赚35%，手握174亿现金 -新华网". www.xinhuanet.com. Archived from the original on August 7, 2020. Retrieved 2020-03-30.
  5. ^ "Tingyi Holding and PepsiCo Finalize Strategic Alliance in China" (Press release).
  6. ^ "Starbucks Signs Agreement with Tingyi Holding Corp. to Expand in China's $6 Billion Ready-to-Drink Coffee & Energy Category" (Press release). 18 March 2015.
  7. ^ "康师傅入选新华社民族品牌工程 以航天品质践行民族品牌企业使命". Archived from the original on June 27, 2018.
  8. ^ "Tingyi to take on local instant noodle makers - Taipei Times". www.taipeitimes.com. 26 November 2002.
  9. ^ "irasia.com - Tingyi (Cayman Islands) Holding Corp". www.irasia.com.
  10. ^ "Tingyi Targets Up to 16% Growth on China Stimulus (Update1)". Bloomberg. 23 October 2009.
  11. ^ Sonne, Paul (2011-05-07). "China Fines Unilever for Price Comments". Wall Street Journal. ISSN 0099-9660. Retrieved 2019-10-28.
  12. ^ Wang, Joy (1 April 2011). "Unilever, Ting Hsin delay hike in China". Shanghi Daily and RetalInAsia.com. Retrieved 2013-05-30.
  13. ^ Wexler, Alexandra (July 4, 2011). "Noodles and Electronics: Asia's Most Valued". Wall Street Journal.
  14. ^ 中時電子報. "康師傅精燉蔥燒排骨湯麵 回收 - 財經". 中時電子報 (in Chinese). Retrieved 2019-09-16.
  15. ^ "Master Kong withdrawing from Taiwan - Taipei Times". www.taipeitimes.com. 4 January 2017. Retrieved 2019-09-16.
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