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Industrial Securities: Beverage-driven revenue growth, sugar-free leads product upgrades.
Sugar-free tea and other niche segments have a fast-growing demand, consumer recovery drives the recovery of soft drink demand, and the income side shows steady growth.
[Brokerage Focus] Goldman Sachs rates Tingyi Holdings (00322) as 'neutral', pointing out that the profitability of the beverage business has recorded a slight negative growth since Q3.
Goldman Sachs released a research report stating that Tingyi (00322) has seen a slight negative growth in profitability in the beverage business since the third quarter, mainly dragged down by fruit juice and carbonated soft drinks (CSD). However, there was some improvement in August, and it is expected that the base effect in September will be more favorable. Based on the more favorable sugar cost and stricter promotional activities in the fourth quarter, management expects the gross margin in the second half of this year to expand similarly to the same period last year. As for the instant noodle business, sales volume declined by single digits in July and August due to the sharp rise in prices, falling behind competitors' positive growth. Management expects the market share to gradually recover by the end of the year. The bank pointed out that the management reiterated its focus on
S&P Affirms Tingyi (Cayman Islands) Holding's A- Ratings on Solid Market Position
TINGYI: 2024 Interim Report
Analysts Are Updating Their Tingyi (Cayman Islands) Holding Corp. (HKG:322) Estimates After Its Half-Year Results
Kangshifu instant noodles semi-annual report disclosed, profit growth driven by cost-effective advantage.
During this year's financial report season, the performance of consumer goods has undoubtedly attracted market attention. Recently, tingyi's performance report has been released. How do we analyze the performance of instant noodles? Where is the future of the instant noodle market? The performance still focuses on steady and healthy growth. On the 26th, tingyi released its interim performance report, focusing on tingyi's instant noodle business. The company's income for the period was 13.814 billion, accounting for 33.5% of the group's total income. Due to the optimization of raw materials and product portfolio, the gross margin increased by 1.3 percentage points to 27.1% year-on-year. After carefully studying tingyi's half-year performance announcement for 2024 (departmental performance), we found that
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