Interim Report 2024

CORPORATE INFORMATION 公司資料

As at 28 August 2024

於2024 年8 月28 日

BOARD OF DIRECTORS

Executive Directors

Mr. Kiyotaka Ando

Mr. Toshimichi Fujinawa

Mr. Shinji Tatsutani

Mr. Yasuhiro Yamada (resigned on 1 July 2024)

Mr. Kiyoshi Matsuura (appointed on 1 July 2024)

Mr. Katsunori Hiroi

Mr. Xi Xiaotong

董事會

執行董事

安藤清隆先生 藤縄利通先生 辰谷真次先生

山田恭裕先生（於2024 年7 月1 日辭任） 松浦潔先生（於2024 年7 月1 日獲委任） 廣井克則先生

奚曉彤先生

02 NISSIN FOODS COMPANY LIMITED  

• 日清食品有限公司

SENIOR MANAGEMENT

Mr. Akifumi Aiba (appointed on 1 July 2024)

Mr. Hijiri Fukuoka (appointed on 11 August 2024) Mr. Gu Chunlei

Mr. Takeshi Kikunaga Mr. Yutaka Komori

Mr. Lau Wing Leung Max

Mr. Gen Matsunobu (resigned on 11 August 2024) Mr. Kiyoshi Matsuura (resigned on 1 July 2024) Mr. Takeshi Shigemi

Ms. Tang Yuen Man Amy Mr. Tse Chi Ping Roy

Ms. Wong Wai Fong Blanche Mr. Zhao Xiongda

(The order is alphabetised by the last names   of the senior management members.)

REGISTERED OFFICE

21-23 Dai Shing Street

Tai Po Industrial Estate

Tai Po

New Territories

Hong Kong

HEADQUARTERS AND PRINCIPAL PLACE OF BUSINESS

11-13 Dai Shun Street

Tai Po Industrial Estate

Tai Po

New Territories

Hong Kong

PRINCIPAL BANKERS

Mizuho Bank, Ltd.

MUFG Bank, Ltd.

SHARE REGISTRAR AND TRANSFER OFFICE

Computershare Hong Kong Investor Services Limited

Shops 1712-1716, 17th Floor

Hopewell Centre

183 Queen's Road East

Wanchai

Hong Kong

CONTACT INFORMATION

Website: www.nissingroup.com.hk

Investor Relations Email: ir@nissinfoods.com.hk

Media Relations Email: pr@nissinfoods.com.hk

STOCK CODE

1475

高級管理層

饗庭彰文先生（於2024 年7 月1 日獲委任） 福岡聖先生（於2024 年8 月11 日獲委任） 古春雷先生

菊永健先生 小森裕先生 劉永亮先生

松延玄先生（於2024 年8 月11 日辭任） 松浦潔先生（於2024 年7 月1 日辭任） 繁實建史先生

鄧婉雯女士 謝志平先生 王惠芳女士 趙雄達先生

（排序按高級管理層成員姓氏的 英文字母順序排列。）

註冊辦事處

香港新界

大埔大埔工業邨 大盛街21-23 號

總辦事處及主要營業地點

香港新界

大埔大埔工業邨 大順街11-13 號

主要往來銀行

瑞穗銀行 三菱UFJ 銀行

股份過戶登記處

香港中央證券登記有限公司 香港灣仔

皇后大道東183 號 合和中心

17 樓1712-1716號舖

聯絡資料

網址：www.nissingroup.com.hk

投資者關係電郵：ir@nissinfoods.com.hk

媒體關係電郵：pr@nissinfoods.com.hk

股份代號

1475

INTERIM REPOR T 2024  

二零二四年中期報告 03

The board of directors (the "Board") of Nissin Foods Company Limited ("Nissin Foods" or the "Company") is pleased to announce the interim results for the six months ended 30 June 2024.

日清食品有限公司（「日清食品」或「本公司」）董 事會（「董事會」）欣然宣佈截至2024 年6 月30 日 止六個月之中期業績。

04 NISSIN FOODS COMPANY LIMITED  

• 日清食品有限公司

For the period under review, the Group's overall business was dampened relatively because of the weakened consumption sentiment. Revenue decreased by 5.5% to HK$1,822.5 million (2023: HK$1,929.3 million), primarily attributable to the decrease in consumption and the negative effects of foreign currency translation for Hong Kong Dollars against Renminbi. Gross profit declined by 3.2% to HK$637.5 million (2023: HK$658.3 million). Gross profit margin rose 0.9 percentage points to 35.0% in 2024 from 34.1% in 2023, mainly attributable to the easing of the key raw material costs.

Profit attributable to owners of the Company slightly decreased by 1.3% to HK$169.5 million (2023: HK$171.7 million), representing the net profit margin of 9.3% for the period (2023: 8.9%). The Group's basic earnings per share slightly decreased to 16.24 HK cents for the period (2023: 16.45 HK cents).

At the Adjusted EBITDA level (Note), the Group increased by 1.5% to HK$300.3 million (2023: HK$295.9 million), representing the Adjusted EBITDA margin of 16.5% for the period (2023: 15.3%).

Note: Adjusted EBITDA is a non-HKFRS measurement used by the management to assess the performance of operating segments, allocate resources and make strategic decisions. The measurement basis of Adjusted EBITDA is defined as net profit before net interest expenses, tax, depreciation of property, plant and equipment, depreciation of the right-of-use asset and amortisation of intangible asset. This also excludes share of material gains or losses which are of capital nature or non-operational related and fair value changes on financial assets at fair value through profit or loss.

於回顧期間內，由於消費意慾減弱，本集團整體 業務相對受到影響。收入減少5.5% 至1,822.5 百 萬港元（2023 年：1,929.3 百萬港元），主要由 於消費減少及港元兌人民幣外幣換算所產生的負 面影響所致。毛利減少3.2% 至637.5 百萬港元 （2023 年：658.3 百萬港元）。毛利率由2023 年 34.1% 增加0.9 個百分點至2024 年35.0%，主要 由於重要原材料成本緩和所致。

本公司擁有人應佔溢利略減1.3% 至169.5 百萬港 元（2023 年：171.7 百萬港元），相當於期內純利

本集團經調整EBITDA（附註）增加1.5% 至300.3 百 萬港元（2023 年：295.9 百萬港元），相當於期內 經調整EBITDA利潤率16.5%（2023年：15.3%）。

附註：經調整EBITDA 為非香港財務報告準則的計量標 準，由管理層用於評估經營分部的表現、分配資 源及作出戰略決策。經調整EBITDA 的計量基準 定義為扣除淨利息開支、稅項、物業、廠房及設 備折舊、使用權資產的折舊及無形資產攤銷前的 純利。這亦不包括資本性質或非業務性的重大收 益或虧損及按公平值計入損益的金融資產公平值 變動。

BUSINESS REVIEW

Hong Kong and Other Asia Operations

The Hong Kong economy recorded a moderate growth in the first half of 2024, as real gross domestic products ("GDP") grew by 2.8% and 3.3% year-on-year in the first and second quarters, respectively, led by sustained external demand for goods and the expansion of investment expenditure. According to the Hong Kong Tourism Board and Census and Statistics Department, the number of visitor arrivals reached 21.1 million in the first half of 2024, representing a year-on-year growth of 64.2%.

業務回顧

香港及其他亞洲業務

INTERIM REPOR T 2024  

二零二四年中期報告 05

However, both total retail sales value and retail sales value of supermarkets and supermarket sections of department stores presented an opposite landscape and recorded year-on-year declines of 6.6% and 4.4%, respectively, mainly attributable to the leakage of local consumers' spending, changes in consumption patterns of both local consumers and visitors and the strength of the Hong Kong dollar. The average monthly outbound cross-border passenger traffic of Hong Kong residents to Shenzhen was approximately 5.9 million for the reporting period, accelerated from approximately 3.1 million in the same period last year. As a market leader in instant noodles and frozen foods in Hong Kong, the Company suffered from the disappointing consumption sentiment on daily necessities.

Revenue from Hong Kong and other Asia operations decreased by 6.1% to HK$705.9 million (2023: HK$751.5 million), mainly attributable to the leakage of Hong Kong consumers' spending on daily necessities to Shenzhen, offsetting the growth in other Asia regions. Currently, revenue from Hong Kong and other Asia operations accounted for 38.7% (2023: 39.0%) of the Group's total revenue.

In terms of segment results, the Hong Kong and other Asia operations dropped by 34.0% to HK$36.9 million (2023: HK$56.0 million) due to an increase in depreciation expenses for the new automated and labour-saving smart production lines and a decrease in product sales of the non-noodle business.

然而，零售業銷貨額及超級市場及百貨公司內超 級市場部門之零售業銷貨總額卻出現相反情況， 同比分別下降6.6% 及4.4%，乃主要由於本地消 費者支出外流、本地消費者及訪港旅客消費模式 的變化以及港元強勢所致。於報告期內，香港居 民每月前往深圳的平均跨境旅客人次約590 萬人 次，較去年同期約310 萬人次增加。作為香港即 食麵及冷凍食品市場的領導者，本公司受到日用 品消費低迷的影響。

來自香港及其他亞洲業務的收入減少6.1% 至

705.9 百萬港元（2023 年：751.5 百萬港元），主 要由於香港消費者在日用品方面的支出外流至深 圳，抵銷其他亞洲地區的增長。目前，來自香港 及其他亞洲業務的收入佔本集團總收入38.7%

（2023 年：39.0%）。

就分部業績而言，香港及其他亞洲業務減少 34.0% 至36.9 百萬港元（2023 年：56.0 百萬港 元），乃由於全新自動化及節約人力的智能生產 線折舊開支增加以及非麵類業務的產品銷量減少 所致。

Instant Noodle Business in Hong Kong

For the period under review, the instant noodle business in Hong Kong achieved a slight increase in revenue as the sales volume of bag- type instant noodles recovered as a result of our collective efforts in expanding the high-pricedpremium bag-typeinstant noodles, including Hokkaido Demae Iccho series, Nissin Chicken Ramen Instant Noodles and the Nissin Viet Signature Series. We further strengthened the export sales to North America, the United Kingdom, the European Union, Australia and New Zealand, which resulted in increased sales in Hong Kong. The Company also continued to promote its signature brands Cup Noodles and Demae Iccho to encourage additional consumption by consumers. This included the provision of exclusive products to certain key accounts, the supply of Cup Noodles and Demae Iccho to gaming arcades as prizes for claw machines and collaboration with Japanese anime such as "BLUE LOCK" (藍色監獄). To further enrich our instant noodle portfolio, the Company launched various new flavours under the Nissin Raoh, Nissin U.F.O, Fuku and Doll brands such as Doll Fried Noodle Seafood Oyster Sauce Flavour.

香港即食麵業務

於回顧期內，香港即食麵業務收入略增，乃由於 隨著我們共同努力拓展包括北海道出前一丁、日 清元祖雞汁即食麵及日清越粉系列在內的高檔袋 裝即食麵，使袋裝即食麵銷量恢復。我們進一步 加強對北美、英國、歐盟、澳洲及新西蘭的出口 銷售，香港銷量因此有所增加。本公司亦繼續推 廣其旗艦品牌合味道及出前一丁，鼓勵消費者進 一步消費，當中包括為若干主要客戶提供獨家 產品、向遊戲中心供應合味道及出前一丁，作 為「夾公仔」機的獎品，以及與日本動畫如「藍色 監獄」合作。為進一步豐富我們的即食麵產品組 合，本公司旗下的日清拉王、日清U.F.O、福及 公仔品牌推出了多個新口味，例如公仔炒麵王蠔

油海鮮味。

06 NISSIN FOODS COMPANY LIMITED  

• 日清食品有限公司

Frozen food products

During the reporting period, the performance of frozen food products was weak as consumers favoured eating out and outbound travelling, especially weekend trips to Shenzhen. As the competitive landscape of the industry has further intensified, the Company extended its focus on premium frozen food products. While offering a wider product range of premium products under the NISSIN brand, the Company increased its exposure via various sales channels, including catering industry and overseas exports, to drive its sales volume. The Company also rolled out new products including Ho e Sik Stir Noodle with Chicken in Laksa Sauce and Ho e Sik Stir Noodle in Sesame & Peanut Sauce.

冷凍食品

於報告期內，冷凍食品表現轉弱，乃由於消費者 更傾向外出用餐及外出旅遊，尤其是於週末前往 深圳旅行。由於行業競爭格局進一步加劇，本公 司將重心擴展至優質冷凍食品產品。除了提供日 清品牌旗下一系列廣泛的優質產品外，本公司亦 增加在各種銷售渠道（包括飲食業及海外出口） 的佈局，以帶動銷量。本公司亦推出新產品，包 括好e 食叻沙雞肉拌麵及好e 食擔擔拌麵。

Distribution business

MC Marketing & Sales (Hong Kong) Limited ("MCMS") is engaged in the distribution of beverages, confectionery, snacks, Japanese brand seasoning sauce and chilled products in Hong Kong. In order to increase the market penetration of our key products, staff sales, KOL promotion, tasting activities and chef demonstration events were organised. During the first half of 2024, its business continued to record growth as a result of the revival of inbound tourism.

分銷業務

香港捷菱有限公司（「香港捷菱」）在香港從事飲 料、洋菓子、零食、日本品牌醬料及冷凍產品的 分銷。為增加主要產品的市場滲透度，我們舉行 了員工銷售、KOL 推廣、試食活動及廚師示範活 動。於2024 年上半年，由於入境旅遊復甦，其業 務繼續錄得增長。

KAGOME, Nissin Granola, Fresh-cut vegetable and Nissin Yogurt

The Company continued to expand the sales channels of the KAGOME business in different regions, including convenience stores, business offices, fine dining restaurants and airline lounge. Various promotional activities, such as joint promotions with NISSIN products and tasting activities, were launched to increase product awareness. During the reporting period, seasonal products such as Setouchi Mandarin Mixed Juice and Ehime Setoka & Iyokan Mixed Juice were available for sale in selected convenience stores and supermarkets.

Our Nissin Granola continued to gain traction with customer's support due to their advocacy of health and wellness. Nissin Granola Oats Fruits , Nissin Granola Oats Matcha and Nissin Granola Oats Maple Syrup Flavour were added during the period to further enrich the product collection.

KAGOME、日清穀物麥片、鮮切蔬菜及日清 乳酪

本公司持續拓展KAGOME 業務在不同地區的銷 售管道，包括便利店、商業辦公室、高級餐廳、 航空公司休息室等。我們進行了各種推廣活動， 如與日清產品的聯合推廣及試食活動，以提高產 品知名度。於報告期內，我們於特選便利店及超 級市場銷售瀨戶內柑橘蔬果汁及愛媛瀨戶香& 伊 予柑蔬果汁等季節性產品。

我們的日清穀物麥片因客戶提倡健康生活而繼續

受彼等支持。期內，我們添加了日清穀物麥片燕 麥麥片豐盛果實、日清穀物麥片燕麥麥片宇治抹 茶及日清穀物麥片燕麥麥片楓糖漿味，進一步豐 富產品系列。

INTERIM REPOR T 2024  

二零二四年中期報告 07

The distribution channels of our fresh-cutvegetable include supermarkets, cafeterias and coffee shops. Further efforts were made to expand the sales channels during the reporting period.

The Company continued to broaden its non-noodle portfolio with the launch of new flavours in the low-fatNissin Yogurt series. New flavours such as tropical fruit, nata de coco, blueberry and orange were added to the existing plain and strawberry flavours, further enriching the product range.

我們的鮮切蔬菜分銷渠道包括超級市場、食堂及 咖啡店。於報告期內，我們進一步努力擴展銷售 渠道。

本公司繼續擴大其非麵類產品組合，並推出新口 味的低脂日清乳酪系列。除現有的原味及草莓 味，亦新增熱帶水果、椰果、藍莓及橙等新口 味，進一步豐富產品範圍。

Nissin Vietnam

The Vietnam's economy recorded a year-on-year growth of 6.42% in the first half of 2024, as reported by the General Statistics Office of Vietnam. The GDP growth rate increased to 6.93% in the second quarter from the previous year, surpassing 5.66% in the first quarter. In addition, the total retail sales of consumer goods and services grew by 8.6% over the previous year. The overall socio-economic situation in Vietnam was positive.

Nissin Vietnam primarily engages in the production and sale of bag- type instant noodles, under brands such as Nissin Raoh and Mi Cay Nissin . During the period under review, the Company proactively explored and expanded different sales channels in the domestic market with a focus on the youth segment. A good performance was achieved, and the overall business outlook was encouraging.

日清越南

越南統計總局的數據顯示，越南經濟於2024 年上 半年同比增長6.42%。第二季度GDP 增長率較上 一年度增長6.93%，超過了第一季度的5.66%。 此外，消費品及服務零售總額較去年增長8.6%。 越南社會經濟情勢整體良好。

日清越南主要以日清拉王及Mi Cay Nissin 等品 牌從事生產及銷售袋裝即食麵。於回顧期間內， 本公司積極探索並拓展國內市場的不同銷售渠 道，重點關注年輕消費者群體，並取得良好表 現，整體業務前景令人鼓舞。

Taiwan Office

The Company established a wholly-owned subsidiary in Taiwan engaging in trading activities in late 2023, as a growing interest in NISSIN products was observed among local consumers. By establishing a subsidiary in the area, clearer sales direction and more sales and promotional support were provided to our distributors and wholesalers in Taiwan, which is expected to achieve sales growth subsequently.

台灣辦事處

本公司於2023 年底在台灣成立全資附屬公司，從 事貿易活動，因當地消費者對日清產品表現出日 益濃厚的興趣。透過於該地區設立附屬公司，我 們能為台灣地區的分銷商及批發商提供更清晰的 銷售方向以及更多銷售和推廣支援，預期隨後達 致銷售增長。

Mainland China Operations

The Mainland China's economy grew at 5.0% year-on-year in the first half of 2024, driven by a stronger recovery in exports, as reported by the National Bureau of Statistics of China. The Chinese economy has been supported by the rise of new industries and new growth drivers, demonstrating a recovery momentum since the start of the year. The International Monetary Fund (IMF) revised China's economic growth rate to 5.0%, 0.4 percentage points higher than the previous forecast.

中國內地業務

中國國家統計局公佈，受出口呈現更強勁的復蘇 所帶動，2024 年上半年中國內地經濟同比增長 5.0%。中國經濟獲新興產業及新增長動力支撐， 自年初起呈現復蘇勢頭。國際貨幣基金組織(IMF) 將中國經濟增長率上調至5.0%，較之前的預測 高0.4 個百分點。

08 NISSIN FOODS COMPANY LIMITED  

• 日清食品有限公司