Master-Kong maker Tingyi Holding Corp. has reported a fall in first-half sales and profits after weakness in its noodle and instant food businesses.

The firm posted an 18.9% drop in profit to US$273.3m and a 3.4% fall in EBITDA to US$679.6m.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Tingyi said its noodle business in the first half saw an 11.8% fall in sales to US$1.79bn as "the instant noodle industry was characterised with a fall in volume and an increase in price."

Tingyi also reported a 25.4% slide in sales at its instant food business to $66.8m, as a result of the slowdown of growth in the Chinese economy and "the impact on the continuing sluggishness in the traditional biscuit market".

Turnover for the group, which includes the results of its beverage business, fell 11.5% to $4.8bn.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now