it was big challenge for this semester, finally i finished this assignment, otherwise i was loo late so i couldn’t get any feedback and give to other students. by the way, thanks for Martin’s lecture and helping your’s feedback during the semester. everyone good luck all the time. ASS #2 step 7-10New restate Tingyi (Cayman Islands) Holding Corp. Spreadsheet 2017
finally, i made restate statement. it was a bit hard financial performance part, however it was very interesting as well. please check my excel file of restate statement then give me a feedback. thanks for your help.
https://kangseon.files.wordpress.com/2018/01/tingyi-cayman-islands-holding-corp-spreadsheet-2017.xls
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E-mailChina.org.cn, September 22, 2016
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Instant noodle products are seen on the shelf in a supermarket. [File photo] |
Master Kong, the top instant noodles brand in China, has been suffering indigestion lately.
According to the interim report of owner Tingyi (Cayman Islands) Holding Corp., the net profit of its instant noodles products dived 60.30 percent year-on-year. On Sept. 5, the company was removed from the Hang Seng set of indexes.
Tingyi was included at the end of 2011, and the year became the watershed in its history. In the decade before 2011, the company share price rose more than 20-fold. However, from 2012, profits began to drop continuously, with the total market value shrinking nearly HK$100 billion from a peak HK$140 billion to the current HK$40 billion.
Master Kong is the largest instant noodles brand in China, and its current woes are typical of the dramatic change in the fast food industry.
According to the Chinese Institute of Food Science and Technology (CIFST), this is the fourth consecutive year that China’s instant noodles industry has seen sales decline, and this trend is expected to continue. Last year, 36.25 billion packages of instant noodles were produced on the Chinese mainland, down by 8.54 percent from the year before. Total sales stood at 49.09 billion yuan, down by 6.75 percent.
Meng Suhe, CIFST president, said: “The industry has made no progress since 2006.”
Faced with a shrinking market, major producers have tried all means possible to attract customers.
Master Kong spent a huge sum of money on advertising. However, this only added to costs and caused an even bigger revenue loss.
Uni-President, the arch rival of Master Kong, launched a series of high-end products and reaped some benefits. In the first half of 2015, gross profits of its instant noodles priced above five yuan grew 5.3 percent. However, when it tried to maintain the momentum by launching a premium cup noodles priced at 30 yuan, the result was a major setback.
The high price deterred both retailers and consumers back, so the product is rarely seen in supermarkets these days. Many consumers thought the idea crazy, because with that kind of money, they could order a decent meal online.
The emerging online food ordering and delivery industry indeed has inflicted a heavy blow to the instant noodles sector, because there is a considerable overlap in target consumers — young people less rich who spend a lot of time at home rather than eating out.
This group used to be the main consumers of instant noodles. However, they have gradually been abandoning instant noodles, as, with a few clicks on their cell phone, tempting dishes can be sent to their door. This is even easier than adding hot water to a cup of instant noodles, and obviously, the foods are more delicious and healthy.
JML, another major mainland instant noodles brand is trying to cope with the growing public pursuit of a healthier lifestyle. At the China Convenience Food Conference held last week, it launched two new products, using freeze drying technology to preserve daily dishes, so as to add more flavor and healthiness to instant noodles. It also vowed to launch one or two novel products every year.
However, Chinese financial author Wu Xiaobo believes that, no matter what approach producers adopt, the decline of the instant noodles industry is inevitable, and is a natural symptom of China’s reform process.
On one hand, the emerging of middle class has brought about a major change in consumption patterns, with growing demand for natural, healthy foods. On the other hand, China’s labor structure is undergoing a significant transformation. Since 2011, the growth of the number of migrant workers, chief customers of instant noodles, has slowed down and this is reflecting in slumping sales.
“Industrial transformation marked the ‘second half’ of China’s reform, which featured consumption upgrading and labor transformation. The fate of instant noodles shows the pain of change and the dawn of success,” Wu said.
ASIA 300 NIKKEI Asian Review
| Dec 8, 2017 | |
|---|---|
| Prev close: | 12.86 |
| Dec 8, 2017 | |
|---|---|
| Market cap: Market cap(USD): |
72,099.6M 9,234.12M |
| Shares: | 5,606.5M |
Currency in HKD
| Dec 8, 2017 | |
|---|---|
| Prev close: | 12.86 |
| Dec 8, 2017 | |
|---|---|
| Market cap: Market cap(USD): |
72,099.6M 9,234.12M |
| Shares: | 5,606.5M |
Currency in HKD
Spreed sheet 2013-2016 year ended 31 December
| Tingyi (Cayman Islands) Holding Corp] | |||||
| Statements of Movements in Equity | |||||
| Years ended [31 December] | |||||
| 2016 | 2015 | 2014 | 2013 | ||
| $’000 | $’000 | $’000 | $’000 | ||
| Total equity | 3,469,653 | 3,894,261 | 4,095,664 | 3,926,387 | |
| Issued capital | 28,023 | 28,019 | 28,019 | 27,982 | |
| Share premium | 66,467 | 65,421 | 65,421 | 53,431 | |
| Reserves | 2,525,490 | 2,940,117 | 2,940,117 | 2,798,879 | |
| Total capital and reserves | 2,619,980 | 3,033,557 | 3,033,557 | 2,880,292 | |
| Noncontrolling | 849,673 | 1,062,107 | 1,062,107 | 1,046,095 | |
| Total comprehensive income for the year | (127,810) | 33,580 | 396,140 | 627,698 | |
| (Profit for the year + Total other comprehensive income or loss) | |||||
| Total transactions with owners of the Company | (296,798) | (234,983) | (226,863) | (190,496) | |
| Total change of Equity | -424608 | -231403 | 169277 | ||
| Tingyi (Cayman Islands) Holding Corp] | |||||
| Balance Sheets | |||||
| as at [31 December] | |||||
| 2016 | 2015 | 2014 | 2013 | ||
| $’000 | $’000 | $’000 | $’000 | ||
| ASSETS | |||||
| Non-current assets | |||||
| Investment properties | 152,617 | 154,498 | |||
| Property, plant and equipment | 4,687,464 | 5,396,574 | 101 | 128 | |
| Prepaid lease payments | 566,185 | 607,822 | |||
| Intangible asset | 25,798 | 26,551 | |||
| Interest in associates | 23,678 | 30,065 | 1,189,293 | 928,464 | |
| Interest in joint ventures | 96,646 | 82,741 | |||
| Available-for-sale financial assets | 92,253 | 92,120 | 53,506 | 24,073 | |
| Other non-current assets | 0 | 15,400 | |||
| Deferred tax assets | 39,780 | 49,002 | |||
| 5,684,421 | 6,454,773 | 1,242,900 | 952,665 | ||
| Current assets | |||||
| Inventories | 357,383 | 325,793 | |||
| Trade receivables | 228,910 | 233,403 | 2,352 | 4,952 | |
| Tax recoverable | 17,402 | 14,780 | |||
| Prepayments and other receivables | 376,216 | 429,057 | 371 | 379 | |
| Pledged bank deposits | 6,098 | 12,048 | 310,000 | 310,000 | |
| Bank balances and cash | 1,467,059 | 1,011,652 | 54,298 | 13,641 | |
| 2,453,068 | 2,026,733 | 367,021 | 328,972 | ||
| Total assets | 8,137,489 | 8,481,506 | 1,609,920 | 1,281,637 | |
| EQUITY AND LIABILITIES | |||||
| Capital and reserves | |||||
| Issued capital | 28,023 | 28,014 | 28,019 | 27,982 | |
| Share premium | 66,467 | 63,900 | 65,421 | 53,431 | |
| Reserves | 2,525,490 | 2,817,145 | 251,689 | 243,988 | |
| Total capital and reserves attributable to owners of the Company | 2,619,980 | 2,909,059 | 0 | 0 | |
| Non-controlling interests | 849,673 | 985,202 | 0 | 0 | |
| Total equity | 3,469,653 | 3,894,261 | 345,129 | 325,401 | |
| Non-current liabilities | |||||
| Financial liabilities at fair value through profit or loss | 21,978 | 9,080 | |||
| Long-term interest-bearing borrowings | 990,597 | 1,326,367 | 876,504 | 495,172 | |
| Employee benefit obligations | 29,598 | 42,901 | |||
| Deferred tax liabilities | 212,223 | 221,807 | 15,045 | 14,708 | |
| 1,254,396 | 1,600,155 | 891,549 | 509,880 | ||
| Current liabilities | |||||
| Trade payables | 949,587 | 722,288 | 520 | 841 | |
| Other payables and deposits received | 964,347 | 1,008,234 | 11,763 | 15,515 | |
| Current portion of interest- bearing borrowings | 1,319,378 | 1,123,198 | 360,960 | 430,000 | |
| Advance payments from customers | 146,218 | 123,179 | |||
| Taxation | 33,910 | 10,191 | |||
| 3,413,440 | 2,987,090 | 373,243 | 446,356 | ||
| Total liabilities | 4,667,836 | 4,587,245 | 1,264,792 | 956,236 | |
| Total equity and liabilities | 8,137,489 | 8,481,506 | 1,609,921 | 1,281,637 | |
| Net current assets (liabilities) | (960,372) | (960,357) | (6,222) | (117,384) | |
| Total assets less current liabilities | 4,724,049 | 5,494,416 | 1,236,678 | 835,281 | |
| Tingyi (Cayman Islands) Holding Corp] | |||||
| Income Statements | |||||
| Years ended [31 December] | |||||
| 2016 | 2015 | 2014 | 2013 | ||
| $’000 | $’000 | $’000 | $’000 | ||
| Revenue | 8,371,863 | 9,102,810 | 10,237,982 | 10,940,996 | |
| Profit before taxation | 371,784 | 471,498 | 69,359 | 722,990 | |
| Taxation | 158,757 | 190,014 | 208,820 | 228,679 | |
| Profit for the year | 213,027 | 281,484 | 484,749 | 494,311 | |
| Profit attributable to: | 176,884 | 256,340 | 400,482 | 408,544 | |
| Owners of the Company | 36,143 | 25,144 | 84,267 | 85,767 | |
| Non-controlling interests | 213,027 | 281,484 | 484,749 | 494,311 | |
| Profit for the year | 88,551 | 128,306 | 200,054 | 204,269 | |
| Dividends | |||||
| Earnings per share | US cents | US cents | US cents | US cents | |
| Basic | 3.16 | 4.57 | 7.15 | 7.30 | |
| Diluted | 3.16 | 4.57 | 7.13 | 7.28 | |
Dec 1 (Reuters) – Tingyi Cayman Islands Holding Corp :
* EXERCISED EXPEDITED CALL OPTION TO BUY AIB-HELD SHARES AT AGGREGATE CONSIDERATION OF US$611.9 MILLION
* EXERCISE PRICE FOR OPTIONS ON AIB-HELD SHARES IS US$2,849.71 PER SHARE
* TINGYI CAYMAN ISLAND -EXERCISED EXPEDITED CALL OPTION FOR ACQUISITION OF SHARES IN TINGYI-ASAHI BEVERAGES HELD BY AI BEVERAGE Source text for Eikon: Further company coverage:
My company Tingyi Cayman Islands
Tingyi (Cayman Islands) Holding Corp. (the “Company”), and its
subsidiaries (the “Group”) specialise in the production and distribution
of instant noodles, beverages and instant food products in the People’s
Republic of China (the “PRC”). The Group started its instant noodle
business in 1992, and expanded into the instant food business and
beverage business in 1996. In March 2012, the Group further expanded
its beverage business by forming a strategic alliance with PepsiCo for the
beverage business in the PRC. The Company exclusively manufactures,
bottles, packages, distributes and sells PepsiCo non-alcoholic drinks in
the PRC. The Group’s three main business segments have established
leading market shares in the PRC’s food industry. According to AC
Nielsen December 2016 data, based on sales volume, in 2016, the
Group was the market leader in instant noodles, ready-to-drink teas
and egg rolls, having gained 42.9%, 53.2% and 15.1% market shares
respectively. In the overall juice drink market, the Group gained 17.9%
market share, ranked No. 2 in the market. In bottled water, the Group
gained 15.1%, ranked No.3. According to Canadean December 2016
data, based on sales volume, Pepsi carbonated drinks had 30.6%
market share and held a second position. After years of hard work and
accumulation, “Master Kong” has become one of the best known
brands among consumers in the PRC.
Being a leading brand in the fast moving consumer goods industry,
Master Kong has to hold the industry responsibility of food safety
and quality guarantee. The Group constantly builds and improves
management system, establishes risk prevention management system,
implements entire control over food safety and ensures product quality
and safety. We will constantly strive for product quality and food safety,
as well as provide consumers with safe, tasty and healthy food.
The Group distributed its products throughout the PRC through
its extensive sales network consisting of 598 sales offices and 69
warehouses serving 33,653 wholesalers and 116,222 direct retailers
as of 31 December 2016. This extensive sales network is a significant
contributor to the Group’s leading market position and it enables the
Group to introduce new products rapidly and effectively.
The Company was listed on The Stock Exchange of Hong Kong Limited
in February 1996. Market capitalisation as at 31 December 2016 was
US$6.75 billion. The Company is a constituent stock of Morgan Stanley
Capital International (MSCI) China Index and Hang Seng China (Hong
Kong-listed) 100 Index.
Focused on food manufacture, sales and circulation business, the Group
will continue to strengthen its logistics and sales network in the PRC
with target of becoming “The largest Group for Chinese Instant Food &
Beverage in the World”.
