Tingyi (cayman Islands) Holding Corp. · HKEX:322
Tingyi (cayman Islands) — H1 2024 Earnings Presentation
16 slides from Tingyi (cayman Islands)'s earnings presentation, Aug 26, 2024
Slide 1: Presentation on 2024 Interim Results (HKEX announcement)
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 Interim Results
Tingyi Holding Corp. 2024 Interim Results 26 Aug 2024
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
Business Review Financial Highlights RMB in Million H1 2024 H1 2023 YOY Revenue 41,201 40,907 0.7% Gross Profit 13,440 12,466 7.8% Gross Margin 32.6% 30.5% 2.1ppt EBITDA 4,825 4,302 12.2% Net Profit 2,235 1,923 16.2% Profit Attributable to Owners of the Company 1,885 1,638 15.1% Net Margin 4.6% 4.0%
Slide 5: Revenue by Segment
Business Review Revenue by Segment Revenue and Structure Revenue Revenue Structure RMB in Million 50,000 RMB in Million H1 2024 H1 2023 YOY H1 2024 H1 2023 YOY 0.8%, 322 0.9%, 351 40,000 Instant Noodles 13,814 13,950 -1.0% 33.5% 34.1% -0.6ppt 30,000 65.7%, 65.0%, 27,065 26,606 Beverages 27,065 26,60
Slide 6: Instant Noodle Revenue by Product
Business Review Instant Noodle Revenue by Product RMB in Million H1 2024 H1 2023 YOY Snack Noodle & Others Bowl 1% 50% Mid-priced Bowl 6,857 6,451 6.3% H1 2024 Packet 9% High-priced Packet High-priced Packet 5,485 5,804 -5.5% 40% Snack Noodle & Others Bowl Mid-priced Packet 1,271 1,473 -13.8% 1% 46%
Slide 7: Beverage Revenue by Product
Business Review Beverage Revenue by Product RMB in Million H1 2024 H1 2023 YOY CSD & Others 36% Tea 42% Tea 11,392 10,080 13.0% H1 2024 Water 2,530 2,678 -5.6% Juice, 13% Water, 9% Juice 3,398 3,782* -10.1% Tea CSD & Others 38% 38% H1 2023 CSD & Others 9,745 10,066* -3.2% Total 27,065 26,606 1.7% Ju
Slide 8: Gross Margin by Segment
Business Review Gross Margin by Segment Gross Margin % % H1 2024 H1 2023 YOY 40 35 Instant Noodles 27.1 25.8 1.3ppt 30 Beverages 35.2 32.7 2.5ppt 25 20 Others 51.4 49.6 1.8ppt 15 H1 22 H2 22 H1 23 H2 23 H1 24 Total 32.6 30.5 2.1ppt Total Instant Noodles Beverages 7 ©2024 Tingyi (Cayman Islands) Hold
Slide 9: Net Profit by Segment
Business Review Net Profit by Segment RMB in Million RMB in Million H1 2024 H1 2023 YOY 2500 2000 Instant Noodles 850 806 5.4% 1500 Beverages 1,465 1,164 25.9% 1000 Others -80 -47 -69.4% 500 0 Total 2,235 1,923 16.2% H1 22 H2 22 H1 23 H2 23 H1 24 Total Instant Noodles Beverages 8 ©2024 Tingyi (Cayma
Slide 10: Profit Attributable to Owners of the Company
Business Review Profit Attributable to Owners of the Company RMB in Million RMB in Million H1 2024 H1 2023 YOY 3000 2500 Instant Noodles 850 806 5.4% 2000 Beverages 1,115 879 26.9% 1500 1000 Others -80 -47 -69.4% 500 0 Total 1,885 1,638 15.1% H1 22 H2 22 H1 23 H2 23 H1 24 Total Instant Noodles Bever
Slide 11: EBIT Margin
Business Review EBIT Margin EBIT Margin % % H1 2024 H1 2023 YOY 15.0 Instant Noodles 7.6 7.1 0.5ppt 10.0 Beverages 7.3 5.7 1.6ppt 5.0 Others 20.7 28.5 -7.8ppt 0.0 H1 22 H2 22 H1 23 H2 23 H1 24 Total 7.5 6.4 1.1ppt Total Instant Noodles Beverages 10 ©2024 Tingyi (Cayman Islands) Holding Corp., All ri
Slide 12: Cash Flow and CapEx
Business Review Cash Flow and CapEx Net Cash from Operating Activities CapEx RMB in Million RMB in Million 4,500 3,000 30,000 4,000 3,510 2,500 25,000 3,500 3,000 2,843 2,000 1,885 20,000 1,655 2,500 1,500 1,403 15,000 2,000 1,500 1,279 1,000 10,000 1,000 500 5,000 500 - - H1 2022 H1 2023 H1 2024 H1
Slide 13: Operation Efficiency
Business Review Operation Efficiency ROA and ROE Cash Conversion Days % Days 40% 0 28.6% 30% -10 22.9% 20% 16.4% -20 -19.2 -19.8 11.3% -23.3 8.5% 10% 6.6% -30 0% -40 2022 2023 H1 2024* 2022 2023 H1 2024 ROA ROE * Annualized 12 ©2024 Tingyi (Cayman Islands) Holding Corp., All rights reserved.
Slide 14: Key Financial Indicators
Business Review Key Financial Indicators RMB in Million H1 2024 2023 Change ROA 11.3% 8.5% 2.8ppt (Annualized) ROE 28.6% 22.9% 5.7ppt (Annualized) Current Ratio 0.6 0.7 -0.1 Gearing Ratio* -23.0% -7.3% -15.7ppt A/R Turnover Days 8.1 7.7 0.4 Finished Goods 16.7 19.5 -2.8 Turnover Days *Long-term time
Slide 15: Material Price Index
Business Review Material Price Index H1 22=100 120 115 103 107 100 98 95 94 80 65 60 62 H1 22 H2 22 H1 23 H2 23 H1 24 PET Resin Palm Oil Flour Sugar 14 ©2024 Tingyi (Cayman Islands) Holding Corp., All rights reserved.
Slide 16: Nation-wide Production and Distribution Network
Business Review Nation-wide Production and Distribution Network As at 30/6/2024 As at 31/12/2023 Production Lines Instant Noodles 158 166 Beverages 394 394 Others 11 11 Distribution Network Sales Office * 356 348 Warehouse 282 303 Wholesaler 73,180 76,875 Direct Retailer 225,464 217,087 * Sales Offi
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