Tingyi (cayman Islands) Holding Corp.HKEX: 322

Tingyi Cayman Islands Holding: Net profit rose 20.5% to RMB2.27 billion as gross margin improved despite lower revenue

· Issued by Tingyi (cayman Islands) Holding Corp.

Revenue declined 2.7% year-over-year to RMB40.09 billion, but gross margin improved to 34.5% and net profit attributable to owners rose 20.5% to RMB2.27 billion. Instant noodles and beverages both saw slight revenue declines but higher margins, while the company continued digital transformation and gained control of JNPS.

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