A popular instant food maker said Tuesday [3 January 2016] that its Chinese mainland business will not be affected by the dissolution of its subsidiary in Taiwan. The Tianjin-based Tingyi (Cayman Islands) Holding Corp., which makes and sells “Master Kong” instant noodles, beverages, and other foods, confirmed Tuesday that its subsidiary Master Kong (Taiwan) Foods Co. Ltd. was dissolved in Taiwan on Sunday…Full Article: ECNS.cn Jan 2017
- In October 2014, Ting Hsin International Group (parent company of Tingyi) was implicated in the Taiwan’s cooking oil scandal [mixing cooking oil and animal feed oil for retail sale]. The subsequent fallout irrevocably damaged sales of its instant noodles on the island.
- From 2011 to 2015, according to the World Instant Noodles Association, Chinese (mainland and Hong Kong) consumption of instant noodles decreased from 42.47 billion servings to 40.43 billion servings.
- From 2010 to 2015, according to Mintel Group, Chinese retail sales of instant noodles increased by 2.2% to CNY 65.3 billion [~US$10.4 billion]. However, in 2020, sales are forecasted to decline to CNY 62.1 billion. The four companies of Tingyi Holdings (Master Kong), Uni-President, Baixiang and Jinmailang account for 80% of China’s instant noodle sales.
- In 2014, Tingyi Holdings (Master Kong) had a 42.2% share of China’s instant noodle market. Tingyi Holdings was followed by Uni-President 13.3%, Jinmailang Food at 11.5%, Baixiang Food at 10.5%, Si Mei Te Food at 4.3%, Nissin Foods Holdings at 3.2%, Henan Nanjiecun Group at 1.5%, and Nongshim at 1.2%.
- Founded in 1992 and headquartered in Tianijn, Tingyi (Cayman Islands), subsidiary of Ting Hsin International Group (HKG:0322) is a beverage and instant noodle producer/distributor.
Hong Kong Trends