Tingyi (cayman Islands) Holding Corp. · HKEX:322
Tingyi (cayman Islands) — FY2024 Earnings Presentation
17 slides from Tingyi (cayman Islands)'s earnings presentation, Mar 25, 2025
Slide 1: Presentation on 2024 Annual Results
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in re
Slide 2: Tingyi Holding Corp. 2024 Annual Results
Tingyi Holding Corp. 2024 Annual Results 24 March 2025
Slide 3: Disclaimer
Disclaimer The information contained in this presentation is intended solely for your personal reference. Such information is subject to change without notice and no representation or warranty express or implied is made as to, and no reliance, should be placed on, the fairness, accuracy, completenes
Slide 4: Financial Highlights
Financial Highlights RMB in Million 2024 2023 YOY Revenue 80,651 80,418 0.3% Gross Profit 26,696 24,467 9.1% Gross Margin 33.1% 30.4% 2.7ppt EBITDA 9,628 8,207 17.3% Net Profit 4,322 3,517 22.9% Profit Attributable to Owners of the Company 3,734 3,117 19.8% Net Margin 4.6% 3.9% 0.7ppt EPS (cents) 66
Slide 5: Revenue by Segment
Revenue by Segment Revenue and Structure Revenue Revenue Structure RMB in Million 90,000 RMB in Million 2024 2023 YOY 2024 2023 YOY 0.8%, 615 0.9%, 686 80,000 70,000 Instant Noodles 28,414 28,793 -1.3% 35.2% 35.8% -0.6ppt 60,000 64.0%, 63.3%, 50,000 51,621 50,939 40,000 Beverages 51,621 50,939 1.3%
Slide 6: Instant Noodle Revenue by Product
Instant Noodle Revenue by Product RMB in Million 2024 2023 YOY Snack Noodle & Others Bowl 2% 49% Mid-priced Packet Bowl 14,012 13,507 3.7% 2024 10% High-priced Packet High-priced Packet 11,098 11,850 -6.3% 39% Snack Noodle & Others Bowl Mid-priced Packet 2,875 2,984 -3.6% 2% 47% Mid-priced Packet 10
Slide 7: Beverage Revenue by Product
Beverage Revenue by Product RMB in Million 2024 2023 YOY CSD & Others 35% Tea 42% Tea 21,700 20,059 8.2% 2024 Water 5,013 5,375 -6.7% Juice, 13% Water, 10% Juice 6,478 7,150 -9.4% CSD & Others Tea 36% 39% 2023 CSD & Others 18,430 18,355 0.4% Total 51,621 50,939 1.3% Juice, 14% Water, 11% 6 ©2025 Tin
Slide 8: Gross Margin by Segment
Gross Margin by Segment Gross Margin % % 2024 2023 YOY 40 35 Instant Noodles 28.6 27.0 1.6ppt 30 Beverages 35.3 32.1 3.2ppt 25 20 Others 51.8 49.4 2.4ppt 15 H1 22 H2 22 H1 23 H2 23 H1 24 H2 24 Total 33.1 30.4 2.7ppt Total Instant Noodles Beverages 7 ©2025 Tingyi(Cayman Islands)Holding Corp., All rig
Slide 9: Net Profit by Segment
Net Profit by Segment RMB in Million RMB in Million 2024 2023 YOY 2500 2000 Instant Noodles 2,045 2,008 1.8% 1500 Beverages 2,506 1,660 51.1% 1000 Others -229 -151 -51.8% 500 0 Total 4,322 3,517 22.9% H1 22 H2 22 H1 23 H2 23 H1 24 H2 24 Total Instant Noodles Beverages 8 ©2025 Tingyi(Cayman Islands)H
Slide 10: Profit Attributable to Owners of the Company
Profit Attributable to Owners of the Company RMB in Million RMB in Million 2024 2023 YOY 3000 2500 Instant Noodles 2,045 2,008 1.8% 2000 Beverages 1,919 1,260 52.3% 1500 1000 Others -229 -151 -51.8% 500 0 Total 3,734 3,117 19.8% H1 22 H2 22 H1 23 H2 23 H1 24 H2 24 Total Instant Noodles Beverages 9 ©
Slide 11: EBIT Margin
EBIT Margin EBIT Margin % % 2024 2023 YOY 15.0 Instant Noodles 9.1 8.8 0.3ppt 10.0 Beverages 6.7 4.1 2.6ppt 5.0 Others 12.7 20.4 -7.7ppt 0.0 H1 22 H2 22 H1 23 H2 23 H1 24 H2 24 Total 7.6 5.9 1.7ppt Total Instant Noodles Beverages 10 ©2025 Tingyi(Cayman Islands)Holding Corp., All rights reserved.
Slide 12: Cash Flow and CapEx
Cash Flow and CapEx Net Cash from Operating Activities CapEx RMB in Million RMB in Million 0 4,000 25 8,264 3,644 3,608 0 3,500 3,239 20 0 3,000 0 5,495 2,500 15 0 4,475 2,000 0 10 1,500 0 1,000 0 5 0 500 - 2022 2023 2024 2022 2023 2024 11 ©2025 Tingyi(Cayman Islands)Holding Corp., All rights reserv
Slide 13: Shareholder Return
Shareholder Return Shareholder Return RMB in Million 195% 15,000 200% 166% 150% 10,000 100% 100% 100% 100% 100% 6,302 100% 5,132 5,000 4,062 3,734 3,331 3,117 2,463 50% - 0% 2018 2019 2020 2021 2022 2023 2024* Final Dividend Special Final Dividend Special Interim Dividend Payout Ratio * Proposed 12
Slide 14: Operation Efficiency
Operation Efficiency ROA and ROE Cash Conversion Days % Days 30% 0 26.6% 22.9% -10 20% 16.4% -20 11.5% -19.2 -19.8 -20.9 10% 8.5% 6.6% -30 0% -40 2022 2023 2024 2022 2023 2024 ROA ROE 13 ©2025 Tingyi(Cayman Islands)Holding Corp., All rights reserved.
Slide 15: Key Financial Indicators
Key Financial Indicators RMB in Million 2024 2023 Change ROA 11.5% 8.5% 3.0ppt ROE 26.6% 22.9% 3.7ppt Current Ratio 0.6 0.7 -0.1 Gearing Ratio* -19.3% -7.3% -12.0ppt A/R Turnover Days 7.2 7.7 -0.5 Finished Goods 17.6 19.5 -1.9 Turnover Days *Long-term time deposits were also taken into account for t
Slide 16: Material Price Index
Material Price Index H1 22=100 140 121 120 105 112 102 100 94 97 80 62 68 60 1H/22 2H/22 1H/23 2H/23 1H/24 2H/24 PET Resin Palm Oil Flour Sugar 15 ©2025 Tingyi(Cayman Islands)Holding Corp., All rights reserved.
Slide 17: Nation-wide Production and Distribution Network
Nation-wide Production and Distribution Network As at 31/12/2024 As at 31/12/2023 Production Lines Instant Noodles 158 166 Beverages 394 394 Others 9 11 Distribution Network Sales Office * 357 348 Warehouse 271 303 Wholesaler 67,215 76,875 Direct Retailer 220,623 217,087 * Sales Office: The statisti
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