Master Kong

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{{More citations needed|date=April 2020}}

{{short description|Taiwanese-Chinese instant noodle company}}

{{Infobox company

| name = Tingyi (Cayman Islands) Holding Corporation

| logo = masterkong.png

| logo_size = 300px

| type = Public company

| genre =

| foundation = 1991

| founder =

| location_city = Taipei, Taiwan
Tianjin, China

| location =

| native_name = 康師傅控股有限公司

| native_name_lang = zh

| trade_name = Tingyi (Cayman Islands) Holding Corporation
{{zh|c=頂益(開曼島)控股有限公司|p=Dǐngyì(Kāimàn dǎo)Kònggǔ Yǒuxiàngōngsī|labels=no}}

| traded_as = {{sehk|322}}
{{twse|910322}}

| key_people = CEO Wei Junxian[https://web.archive.org/web/20190801165009/http://www.xinhuanet.com/tw/2018-09/20/c_1123462106.htm 2018 Cross-Strait New Economic Forum held in Beijing]. Xinhua News Agency. 2018-09-20.

| area_served = China

| industry = Foods

| products = instant noodles, beverages, baked goods, soft drinks, bottled water

| services =

| revenue =

| operating_income =

| net_income =

| num_employees =

| parent =Ting Hsin International Group (33.48%)
Sanyo Foods Co., Ltd (33.48%)

| divisions =

| subsid =

| owner =

| company_slogan =

| homepage = {{URL|http://www.masterkong.com.cn/}}

}}

Master Kong ({{zh|first=t|s=康师傅控股有限公司|t=康師傅控股有限公司|p=Kāng-shīfu Kònggǔ Yǒuxiàngōngsī}}) is the largest instant noodle producer in China.

Established in 1991, Master Kong is a branded company headquartered in Taipei, Taiwan and Tianjin, China. It specialises in the production and distribution of instant noodles,{{cite web | url=http://money.msn.com/business-news/article.aspx?feed=OBR&date=20130520&id=16495800 | title=China's Tingyi Q1 profit falls 47 pct as sales slow | publisher=Reuters | date=20 May 2013 | access-date=2013-05-30 | archive-url=https://web.archive.org/web/20140902072318/http://money.msn.com/business-news/article.aspx?feed=OBR | archive-date=2 September 2014 | url-status=dead }} beverages, cakes, and relevant supporting industries. In 1996, it was listed in Hong Kong and is currently constituent of MSCI China Index and the Hang Seng China 100 Index.{{Cite web|url=http://www.masterkong.com.cn/trends/introduction/|title=康师傅介绍|website=www.masterkong.com.cn|access-date=2020-03-29}}

In 2019, Master Kong achieved revenue of 61.978 billion yuan, a year-on-year increase of 2.13%; achieved net profit of 3.331 billion yuan, a year-on-year increase of 35.22%.{{Cite web|url=http://www.xinhuanet.com/tech/2020-03/24/c_1125759361.htm|archive-url=https://web.archive.org/web/20200807230055/http://www.xinhuanet.com/tech/2020-03/24/c_1125759361.htm|url-status=dead|archive-date=August 7, 2020|title="免疫力"成康师傅年报亮点:2019年多赚35%,手握174亿现金 -新华网|website=www.xinhuanet.com|access-date=2020-03-30}} According to Nielsen, the sales volume of Master Kong instant noodles in 2019 accounted for 43.3% of market shares, ranking first in the market. According to Kantar, in 2019, Master Kong's juice ranks second in juice market penetration. Meanwhile, the penetration of Master Kong RTD tea reached 38%, 10 percentage points higher than the second.

In November 2011, Master Kong and PepsiCo established a strategic alliance for the production and sales of all non-alcoholic beverages in China.{{Cite press release|title=Tingyi Holding and PepsiCo Finalize Strategic Alliance in China|url=https://www.prnewswire.com/news-releases/tingyi-holding-and-pepsico-finalize-strategic-alliance-in-china-145295165.html}} In March 2015, Master Kong and Starbucks officially entered into cooperation agreement for the production and sales of Starbucks bottled and canned ready-to-drink products in China.{{Cite press release|title=Starbucks Signs Agreement with Tingyi Holding Corp. to Expand in China's $6 Billion Ready-to-Drink Coffee & Energy Category|date=18 March 2015 |url=https://www.businesswire.com/news/home/20150318006570/en/Starbucks-Signs-Agreement-Tingyi-Holding-Corp.-Expand}}

In June 2018, Master Kong was shortlisted in the national brand project of Xinhua News Agency.{{Cite web|url=http://www.xinhuanet.com/food/2018-06/27/c_1123043847.htm|archive-url=https://web.archive.org/web/20180627061052/http://www.xinhuanet.com/food/2018-06/27/c_1123043847.htm|url-status=dead|archive-date=June 27, 2018|title=康师傅入选新华社民族品牌工程 以航天品质践行民族品牌企业使命}}

History

The company was founded in Tianjin by the Wei brothers from Changhua County, Taiwan in 1991.{{Cite web|url=http://www.taipeitimes.com/News/biz/archives/2002/11/26/184846|title=Tingyi to take on local instant noodle makers - Taipei Times|website=www.taipeitimes.com|date=26 November 2002 }} It was listed on the Hong Kong Stock Exchange in 1996.{{Cite web|url=http://www.irasia.com/listco/hk/tingyi/profile.htm|title=irasia.com - Tingyi (Cayman Islands) Holding Corp.|website=www.irasia.com}}

It is owned 33.48% by Ting Hsin International Group{{cite news| url=https://www.bloomberg.com/apps/news?pid=20601080&sid=aqwOLSP9Mz4s | work=Bloomberg | title=Tingyi Targets Up to 16% Growth on China Stimulus (Update1) | date=23 October 2009}} and 33.48% by Sanyo Foods.

In March 2011, Unilever was fined 2 million Yuan for the distribution of information about future price hikes and Tingyi was given a warning about publicly discussing their price increases.{{Cite news|url=https://www.wsj.com/articles/SB10001424052748703859304576306401272168750|title=China Fines Unilever for Price Comments|last=Sonne|first=Paul|date=2011-05-07|work=Wall Street Journal|access-date=2019-10-28|language=en-US|issn=0099-9660}}

In June 2011, Master Kong{{cite web | url=http://www.shanghaidaily.com/nsp/Business/2011/04/01/Unilever%2BTing%2BHsin%2Bdelay%2Bhike/ | title=Unilever, Ting Hsin delay hike in China | publisher=Shanghi Daily and RetalInAsia.com | date=1 April 2011 | access-date=2013-05-30 | author=Wang, Joy}} was recognized by market research firm, TNS, to be the second most valued brand in China.{{Cite news|url=https://blogs.wsj.com/scene/2011/07/04/noodles-and-electronics-asias-most-valued/|title=Noodles and Electronics: Asia's Most Valued|first=Alexandra|last=Wexler|newspaper=Wall Street Journal |date=July 4, 2011}}

As of 2013, its main competitors are Want Want China and Uni-President.

In 2014, Master Kong was facing a food safety problem in Taiwan.{{Cite web|url=https://www.chinatimes.com/realtimenews/20140913003080-260410?chdtv|title=康師傅精燉蔥燒排骨湯麵 回收 - 財經|last=中時電子報|website=中時電子報|language=zh-Hant-TW|access-date=2019-09-16}} In 2015, Master Kong stopped distributing its instant noodles in Taiwan. The group's board of directors has approved a plan to completely withdraw from the Taiwanese market.{{Cite web|url=http://www.taipeitimes.com/News/biz/archives/2017/01/04/2003662452|title=Master Kong withdrawing from Taiwan - Taipei Times|website=www.taipeitimes.com|date=4 January 2017 |access-date=2019-09-16}}

See also

References

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