Master Kong

Source: Wikipedia, the free encyclopedia.
For other uses, see Master Kong (disambiguation).
Tingyi (Cayman Islands) Holding Corporation
Ting Hsin International Group (33.48%)
Sanyo Foods Co., Ltd (33.48%)
Websitewww.masterkong.com.cn

Master Kong (

instant noodle producer in China
.

Established in 1991, Master Kong is a branded company headquartered in

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

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

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

References

  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. 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.

External links

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