English | 简体中文 | 繁體中文 | 한국어 | 日本語
Monday, 7 November 2022, 18:08 HKT/SGT
Share:
    

Source: Nissin Foods Co Ltd
Nissin Foods Wins Bid for Acquiring Equity Interest in Zhuhai Winner at RMB352.44 Million
Gains Greater Flexibility to Deploy Production Capabilities
Captures Rising Opportunities in Hong Kong and Mainland China Instant Noodle Market

HONG KONG, Nov 7, 2022 - (ACN Newswire) - Nissin Foods Company Limited ("Nissin Foods", and together with its subsidiaries, the "Group"; Stock code: 1475) announced that its wholly-owned subsidiary Nissin Foods (China) Holding Co., Ltd. ("Nissin Foods China") has won a bid for 29.55% equity interest in Zhuhai Golden Coast Winner Food Products Limited ("Zhuhai Winner") (the "Proposed Acquisition") at RMB352.44 million.

An indirect subsidiary of Nissin Foods, Zhuhai Winner is 70.45% owned by Winner Food Products Limited, a wholly-owned subsidiary of the Company, and 29.55% owned by Zhuhai Western Development Co. Upon completion of the Proposed Acquisition, Zhuhai Winner will become an indirect wholly-owned subsidiary of Nissin Foods.

Zhuhai Winner is a manufacturer and distributor of instant noodles for Nissin Foods. Its principal activities include production and sale of instant noodles, seasonings, paper food containers and plastic packaging containers.

Mr Kiyotaka ANDO, Executive Director, Chairman and Chief Executive Officer of Nissin Foods, said, "We believe the Proposed Acquisition, if materialised, will give us greater flexibility to deploy production capabilities in Hong Kong and Mainland China to respond to market demand and the changing business environment. It will also present a good opportunity to the Group to advance our instant noodles production and distribution, as well as seize the long-term growth trends in the Mainland China, which will in turn bolster the Group's overall income and profitability. The move is also proof of our long-term commitment to the instant noodles business in Hong Kong and Mainland China which is in line with our strategic direction."

About Nissin Foods Company Limited
Nissin Foods Company Limited (The "Group"; Stock code: 1475) is a renowned food company in Hong Kong and Mainland China with a diversified portfolio of well-known and highly popular brands and the largest instant noodle company in Hong Kong. The Group officially established its presence in Hong Kong in 1984. The Group primarily manufactures and sells instant noodles, frozen foods and other food products under its two core corporate brands, namely "NISSIN" and "DOLL" together with a diversified portfolio of iconic household premium food brands. The Group's five flagship product brands, namely "Cup Noodles", "Demae Iccho", "Doll Instant Noodle", "Doll Dim Sum" and "Fuku" are also among the most popular choices in their respective food product categories in Hong Kong. In the Mainland China market, the Group has introduced technology innovation through the "ECO Cup" concept and primarily focuses its sales efforts in first-and second-tier cities.

Nissin Foods is a constituent of eight Hang Seng Indexes, namely: Hang Seng Composite Index, Hang Seng Consumer Goods & Services Index, Hang Seng Stock Connect Hong Kong Index, Hang Seng Stock Connect Hong Kong MidCap & SmallCap Index, Hang Seng Stock Connect Hong Kong SmallCap Index, Hang Seng SCHK Mainland China Companies Index, Hang Seng SCHK ex-AH Companies Index, and Hang Seng Small Cap (Investable) Index. For more information, please visit www.nissingroup.com.hk.

For media enquiries:
Nissin Foods Company Limited
Public Relations Department
Blanche Wong / Mabel Tan
Email: pr@nissinfoods.com.hk

For investor enquiries:
Nissin Foods Company Limited
Investor Relations Department
Shingo Yamazaki / Fanny Yan
Email: ir@nissinfoods.com.hk

Strategic Financial Relations Limited
Vicky Lee Tel: (852) 2864 4834 Email: vicky.lee@sprg.com.hk
Aggie Fang Tel: (852) 2114 4987 Email: aggie.fang@sprg.com.hk
Maggie Ko Tel: (852) 2864 4890 Email: maggie.ko@sprg.com.hk


Topic: Press release summary
Source: Nissin Foods Co Ltd

Sectors: Food & Beverage
https://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2023 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

 

Nissin Foods Co Ltd Related News
Jan 18, 2023 15:25 HKT/SGT
日清食品(香港)慈善基金於香港中文大學設立日清食品獎學金
Jan 18, 2023 15:24 HKT/SGT
Nissin Foods (Hong Kong) Charity Fund Establishes Nissin Foods Scholarship at The Chinese University of Hong Kong
Jan 12, 2023 12:29 HKT/SGT
日清食品加強支持本地網球新星王康怡 延長贊助三年至2025年
Jan 12, 2023 12:28 HKT/SGT
Nissin Foods Extends Sponsorship of Local Tennis Star Cody WONG for Three Further Years until 2025
Dec 19, 2022 12:22 HKT/SGT
日清食品(香港)慈善基金與香港教育大學推出精英運動員獎學金
More news >>
Copyright © 2023 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Cookies Policy | Privacy Policy | Disclaimer | Terms of Use | RSS
US: +1 214 890 4418 | China: +86 181 2376 3721 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575