Tingyi (Cayman Islands) Holding Corp. · HKEX:322

Tingyi (Cayman Islands) — Q1 2014 Earnings Presentation

18 slides from Tingyi (Cayman Islands)'s earnings presentation, May 19, 2014

1. Slide 1: Presentation on 2014 First Quarterly 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

2. Slide 2: Tingyi Holding Corp. 1Q 2014 Results

   0322 HK Tingyi Holding Corp. 1Q 2014 Results 19 May 2014 Hong Kong Corporate web site: www.masterkong.com.cn Email: IR@tingyi.com © 2014 Tingyi Holding Corp., All rights reserved.

3. 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 norepresentation or warranty express or implied is made as to, and no reliance, should be placed on, the fairness, accuracy, completeness

4. Slide 4: Contents

   Contents  1Q 2014 review  Financial highlights  Market shares  Distribution network  Production summary 3 © 2014 Tingyi Holding Corp., All rights reserved.

5. Slide 5: 1Q 2014 – Sales & Profit Growth

   1Q 2014 – Sales & Profit Growth US$ million 1Q2014 1Q2013 Change% Turnover 2,782 2,648 5.04 Gross Profit 845 775 9.03 Gross Margin 30.38% 29.27% 1.11ppt. EBITDA 364 295 23.46 Profit 173 117 47.62 Profit attributable to owners of the Company 128 105 22.39 EPS (US cents) 2.29 1.88 US0.41 cents 4 © 201

6. Slide 6: Turnover by Products

   Turnover by Products US$ million 1Q2014 1Q2013 Change% Instant noodles 1,150 1,105 4.07 Beverages 1,554 1,462 6.28 Instant food 53 57 -7.29 Others 25 24 3.63 Total 2,782 2,648 5.04 1Q2013 1Q2014 Instant Instant Others Food Others Food 1% 2% 1% 2% Noodles Noodles Beverages Beverages 42% 41% 56% 55% 5

7. Slide 7: Instant Noodle Sales by Products

   Instant Noodle Sales by Products US$ million 1Q2014 1Q2013 Change% Bowl 568 553 2.65 High end Packet 425 423 0.61 Mid end Packet 127 109 16.06 Snack Noodle & Others 30 20 52.18 Total 1,150 1,105 4.07 1Q2013 1Q2014 Mid end Others Others Mid end Packet 2% 3% Packet 10% 11% Bowl High end Bowl 49% High

8. Slide 8: Beverage Sales by Products

   Beverage Sales by Products US$ million 1Q2014 1Q2013 Change% Tea 723 573 26.30 Water 207 154 33.87 Juice 316 342 -7.61 Carbonated drinks and Others 308 393 -21.60 Total 1,554 1,462 6.28 1Q2013 1Q2014 Carbonated drinks and Others Carbonated drinks and Others Tea Tea 27% 20% 39% 47% Juice Water 11% Ju

9. Slide 9: Gross Margin by Products

   Gross Margin by Products 1Q2013 38.17 40 36.52 1Q2014 % 32.08 30.16 30.38 28.03 28.42 29.27 30 20 10 0 Instant Beverages Instant Food Overall Noodles Change (ppt.) -2.13 3.66 -1.65 1.11 8 © 2014 Tingyi Holding Corp., All rights reserved.

10. Slide 10: EBIT by Products

    EBIT by Products US$’000 1Q2014 1Q2013 Change% Instant Noodles 121,652 127,097 -4.28 Beverages 125,849 57,715 118.05 Instant Food -4,073 1,056 -485.75 Others -4,883 2,004 -343.72 EBIT 238,545 187,872 26.97 9 © 2014 Tingyi Holding Corp., All rights reserved.

11. Slide 11: Profit

    Profit US$’000 1Q2014 1Q2013 Change% Instant Noodles 103,062 98,089 5.07 Beverages 83,532 21,479 288.90 Instant Food -3,780 846 -546.81 Others -9,944 -3,313 -200.15 Profit 172,870 117,101 47.62 10 © 2014 Tingyi Holding Corp., All rights reserved.

12. Slide 12: Financial Position

    Financial Position 1Q2014 FY 2013 * ROA (Annualized) 10.95% 8.92% *ROE (Annualized) 17.69% 15.06% Current Ratio 0.75 0.66 Gearing Ratio -0.08 0.15 A/R Turnover /Days 9.07 8.23 Finished Goods Turnover/Days 12.08 12.90 At 31/12/2013,Cash and cash equivalents was US$1.88 billion *ROA：EBIT to average to

13. Slide 13: Material Price

    Material Price RMB/Ton 3,700 Flour 3,480 11,500 Palm Oil 3,500 3,300 10,500 3,100 9,500 2,900 8,500 2,700 7,500 2,500 6,090 2,300 6,500 2,100 5,500 1,900 4,500 1,700 3,500 1,500 /07 /07 /08 /08 /09 /09 /10 /10 /11 /11 /12 /12 /13 /13 /14 /07 /07 /08 Q /08 Q /09 Q /09 Q /10 Q /10 Q /11 Q /11 Q /12 Q

14. Slide 14: Instant Noodle Market Share by Value and Volume

    Instant Noodle Market Share-by Volume Instant Noodle Market Share-by Value 60.0 Tingyi Holding % 70.0 Tingyi Holding % 47.7 57.4 57.1 57.1 57.1 56.2 56.7 56.3 56.5 56.3 56.5 57.2 50.0 45.7 46.3 60.0 54.9 55.7 56.0 55.6 56.0 56.4 44.0 44.944.2 43.1 42.3 42.7 43.3 42.9 44.0 43.9 41.4 42.1 41.8 41.2 50

15. Slide 15: RTD Tea Market Share by Volume and Value

    RTD Tea Market Share-by Volume RTD Tea Market Share-by Value 60.0 60.0 % 56.3 % 54.9 Tingyi Holding 54.4 Tingyi Holding 56.1 53.4 54.1 50.9 52.2 53.4 53.6 50.3 51.6 51.5 52.5 51.3 49.7 51.2 50.0 47.4 47.8 47.8 50.0 48.3 50.8 45.2 45.7 45.8 47.4 43.9 44.0 46.3 43.4 42.4 41.8 47.2 47.6 40.0 40.0 36.7

16. Slide 16: RTD Tea (no milk tea) Market Share by Volume and Value

    RTD Tea (no milk tea) Market Share-by Volume RTD Tea (no milk tea) Market Share-by Value 70.0 70.0 % % Tingyi Holding 60.8 Tingyi Holding 59.4 57.5 58.4 58.0 60.0 60.0 57.1 57.3 57.1 56.8 57.1 56.5 56.1 55.9 54.8 55.9 54.5 53.0 55.2 53.6 53.8 53.5 53.1 52.0 52.2 56.7 55.6 55.1 50.0 53.4 50.0 53.3 52

17. Slide 17: Bottle Water and Diluted Juice Drinks Market Share by Volume

    Bottle Water Market Share-by Volume Diluted Juice Drinks (5-39% juice content) Market Share-by Volume 40.0 30.8 30.0 Tingyi Holding 29.9 % Tingyi Holding % 25.9 33.8 25.3 35.0 33.2 33.6 33.5 25.7 25.1 24.1 32.1 31.9 32.4 32.1 25.0 24.1 31.7 22.6 30.0 31.0 22.6 22.7 22.5 22.7 29.9 30.1 30.5 22.6 Play

18. Slide 18: Nation-Wide Distribution Network and Production Lines

    Nation-Wide Distribution Network and Production Lines a) Nation-Wide Distribution Network As at 31/3/2014 As at 31/12/2013 Sales Office 584 566 Warehouse 85 75 Wholesaler 35,500 33,504 Direct Retailer 114,421 110,355 b) Production Lines Noodles 229 229 Beverage 424 410 Instant Food 15 15 17 © 2014 T

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