- Revenue: RMB1,622.4 million, representing a year-on-year increase of 40.5%

- Net Profit: RMB106.1 million, representing a year-on-year increase of 74.8%

- Adjusted Net Profit (a non-IFRS measure): RMB135.4 million, representing a year-on-year increase of 111.9%

- In 2025, the Group opened 156 new restaurants, comprising 134 self-operated restaurants and 22 franchised restaurants

- As of December 31, 2025, the Group operated 395 self-operated restaurants and 92 franchised restaurants across 24 cities in Mainland China, 15 restaurants in the Hong Kong Special Administrative Region and 1 restaurant in Singapore

HONG KONG, Mar 30, 2026 - (ACN Newswire) - Guangzhou Xiao Noodles Catering Management Co., Ltd. (the “Company” or “Xiao Noodles”; Stock Code: 2408.HK) is pleased to announce that the board of directors of the Company announces the unaudited consolidated results of the Company and its subsidiaries (the “Group”) for the year ended 31 December 2025 (the “Reporting Period”).

As the “First-listed Chinese Noodle Restaurant” on the Hong Kong Stock Exchange, the Group leveraged its standardized operational system and core product strengths in 2025 to comprehensively drive store expansion and optimize its business portfolio. Through synergies across its business segments, the Group achieved significant revenue growth during a period of profound industry restructuring.

During the Reporting Period, the Group generated revenue of RMB1,622.4 million, representing a year-on-year increase of 40.5%; net profit reached RMB106.1 million, up 74.8% year-on-year; and adjusted net profit (a non-IFRS measure) amounted to RMB135.4 million, up 111.9% year-on-year. In 2025, the Group opened 156 new restaurants, including 134 self-operated restaurants and 22 franchised restaurants. As of December 31, 2025, the Group operated a total of 503 restaurants, comprising 395 self-operated and 92 franchised restaurants across 24 cities in mainland China, 15 restaurants in the Hong Kong Special Administrative Region, and one restaurant in Singapore, marking significant expansion achievements.

Steady Growth in Self-operated Restaurants, Reinforcing the Core Business

The Group’s revenue primarily comes from self-operated restaurants operation and franchised restaurants management. Self-operated restaurants serve as the core revenue pillar, while franchised restaurants emerged as a new growth engine. The synergistic efforts of these two business segments are driving the Group’s continued improvement in profitability.

In terms of self-operated restaurant business, in 2025, the operational quality and efficiency of self-operated restaurants continued to improve, with core operational indicators delivering outstanding performance. The Group’s revenue from self-operated restaurant operations increased from RMB1,001.0 million in 2024 by 44.9% to RMB1,450.2 million in 2025, primarily attributable to the increase in the number of self-operated restaurants. Revenue from self-operated restaurant operations as a percentage of total revenue increased from 86.7% in 2024 to 89.4% in 2025. In addition, revenue from delivery business as a percentage of total revenue increased rapidly from 15.6% for the year ended December 31, 2024 to 23.3% for the year ended December 31, 2025.

During the Reporting Period, the average spending per order at the Group’s self-operated restaurants amounted to RMB29.9, remaining stable, while average daily orders per restaurant increased from 386 orders in 2024 to 406 orders in 2025, demonstrating improved customer attraction.

In terms of same-store operating performance, it remained robust, with same-store sales amounting to RMB745.612 million, representing a year-on-year increase of 1.0› average daily orders per same store increased from 391 orders in 2024 to 427 orders in 2025, and the average spending per order at same stores was RMB29.4, remaining stable.

In terms of franchised restaurants, in 2025, the Group’s franchised restaurant operations delivered excellent performance, with improvements across various core indicators. The Group’s revenue from franchise management increased from RMB152.5 million in 2024 by 12.3% to RMB171.3 million in 2025, primarily attributable to the increase in the number of restaurants.

Steady Progress in Domestic and Overseas Expansion to Actively Explore New Growth Opportunities

While maintaining the steady development of its existing business, the Group has actively expanded its business to the Hong Kong Special Administrative Region and overseas markets, steadily increasing market penetration and seeking new growth opportunities.

As of December 31, 2025, the Group had successfully opened 15 restaurants in the Hong Kong Special Administrative Region and one restaurant in Singapore, marking initial achievements in its overseas market layout. During the Reporting Period, the Hong Kong market delivered an outstanding overall operating performance with remarkable results in regional expansion. Going forward, the Group plans to further expand into Southeast Asia to enhance its brand recognition, optimize its market layout, and drive long-term, steady and diversified revenue growth.

Future Outlook

Looking ahead to 2026, driven by a series of national policies to stabilize the economy and promote growth, China’s domestic economy and consumer market are expected to continue their recovery, with residents’ consumption capacity and confidence further strengthened, injecting strong impetus into the development of the Chinese fast food industry.

Against this backdrop, the Group will firmly seize market opportunities, leverage its brand advantage as the "First-listed Chinese Noodle Restaurant", and promote the expansion of its restaurant network, with plans to open 150 to 180 new restaurants in 2026. Meanwhile, the Group will continue to increase investment in brand building to deepen brand recognition and influence, steadily advance its overseas market expansion, consolidate its leading position in the Chinese noodle restaurant segment, and strive to create greater value for shareholders.

About Guangzhou Xiao Noodles Catering Management Co., Ltd.

Guangzhou Xiao Noodles Catering Management Co., Ltd. is a Chinese noodle restaurants operator in China. We operate the Xiao Noodles brand in the Chinese Mainland and Hong Kong SAR. Our restaurant network encompassed 395 self-operated restaurants and 92 franchised restaurants across 24 cities in the Chinese Mainland and 15 restaurants in Hong Kong SAR and one restaurant in Singapore as of December 31, 2025. According to Frost & Sullivan, the Company ranked fourth largest Chinese noodle restaurants operator in China in terms of GMV in 2024. Based on the same source, we ranked the thirteenth in the overall Chinese QSR market in terms of GMV in 2024.

On 26th March, Haitian Flavouring released its 2025 annual report. Financial data shows that in 2025, the company achieved total revenue of RMB 28.873 billion, a year-on-year increase of 7.32%. Profitability improved simultaneously, with full-year net profit attributable to shareholders of the parent company reaching RMB 7.038 billion, up 10.95% year-on-year; net profit attributable to shareholders of the parent company after deducting non-recurring gains and losses amounted to RMB 6.845 billion, a year-on-year rise of 12.81%, and the gross profit margin of its core condiment business reached 41.78%, representing a year-on-year increase of 3.15 percentage points. All operating data hit record highs, demonstrating strong development resilience and core competitiveness, and further widening the gap with industry peers.

Product Matrix Diversification: Building a Foundation for Multi-Dimensional Growth

As a time-honored Chinese enterprise with a 400-year history deeply rooted in the condiment industry, Haitian Flavouring has built a stable and resilient multi-dimensional growth pattern through its continuously enriched product portfolio for the mass market, with its core product categories maintaining a globally leading competitive position.

In the soy sauce category, Haitian Flavouring has always adhered to a consumer-centric approach. Focusing on consumers’ diverse needs, the company has continuously innovated in flavor, functionality, and specifications, establishing a complete product matrix covering both basic mass consumption and various segmented scenarios. Its product lines include not only classic series, premium soy sauce series, and time-honored series for daily cooking, but also healthy and nutritious lines such as organic, less-sodium, iron-fortified, selenium-enriched, and gluten-free products, as well as trendy products such as matsutake premium soy sauce.

In the oyster sauce category, the company insists on selecting premium whole oysters from high-standard marine ranches and simmering them into sauce. With genuine ingredients and rigorous craftsmanship, Haitian oyster sauce maintains its advantage of being “rich in flavor, free from any fishy taste; one simple step to seal in freshness” . Currently, the company has launched diversified products such as Haitian superior oyster sauce and golden label oyster sauce, covering different flavors, packaging specifications, and price points. In response to consumer demand, the company has carried out scenario-based innovation, successively launching new products such as spicy oyster sauce and matsutake fresh oyster sauce to continuously enrich consumer choices.

In the seasoning sauce category, the company’s products are mainly divided into two categories: basic flavored sauces and compound flavored sauces. It has built a product system with rich categories, diverse flavors, and multiple scenarios, such as Chu Hou Paste, Hoisin Sauce, Sauce for Rice, and Mushroom Sauce, which are suitable for different cooking methods. Meanwhile, the company adheres to a dual-wheel layout of “traditional vinegar + specialty vinegar,” developing regional characteristic rice vinegar such as sweet rice vinegar, selected fresh rice vinegar, and kangle vinegar, as well as specialty fruit vinegar including sugar-free apple cider vinegar and raw orange vinegar. This has formed a rich and diverse vinegar product system, further consolidating the company’s all-category competitive advantages, providing solid support for its steady performance growth, and building a profound market barrier.

Benefiting from the recovery of the consumer market and its extensive product portfolio, Haitian Flavouring’s core categories including soy sauce, oyster sauce, and seasoning sauces maintained steady development in 2025, achieving operating revenues of RMB 14.934 billion, RMB 4.868 billion, and RMB 2.917 billion respectively, with year-on-year growth rates of 8.55%, 5.48%, and 9.29%. The three major categories maintained positive growth simultaneously, providing solid support for the overall performance.

As of the end of 2025, Haitian Flavouring has established 7 product series each generating over RMB 1 billion in revenue, and more than 30 product series each exceeding RMB 100 million, with product concentration and competitiveness continuing to improve. Among them, the two products series of Golden Label Light Soy Sauce and Mushroom Dark Soy Sauce have been bestsellers for over 60 years. The two products series of Premium Soy Sauce and Haitian Superior Oyster Sauce have achieved annual revenue of over RMB 1 billion per product for over 10 consecutive years, becoming the core drivers supporting the Company's steady performance growth and demonstrating strong product vitality and high market recognition.

While consolidating its advantages in core product categories, Haitian Flavouring proactively adapts to the trend of consumption upgrading, invests heavily in new product development, creates trend-setting new products, and forms a continuously evolving growth flywheel. Supported by its industry-leading product strength, the nutritionally healthy product series, represented by organic and less-sodium options, achieved operating revenue with a year-on-year growth rate of 48.3%, significantly outperforming the industry average growth rate and opening up a new growth curve for the Company's performance growth.

Furthermore, Haitian Flavouring is proactively transforming itself from a "condiments supplier" to a "comprehensive flavor solutions provider," accurately capturing the new market opportunities brought by the industrialization and chain-upgrading of the catering industry. As of the end of 2025, the Company has cumulatively provided one-stop commercial condiment solutions to catering chains, food enterprises, and numerous global retail brands, further expanding its profit margins.

Meanwhile, the Company boasts leading digitalization-enabled flexible production and customized service capabilities. It can produce up to over 20 specifications and more than 130 SKUs of different products on the same production line, with its customized service response and time-to-market speed leading the industry. Powered by its digital transformation, the Company's ultimate supply chain has established a new paradigm for the collaborative development of "customization, scale, quality-to-price performance ratio" in the manufacturing industry. This not only ensures stable and safe product quality to meet the stringent requirements of chain catering but also caters to the diverse needs of different users for condiments.

Digitalization Empowers Across the Entire Chain, Technological Innovation Boosts Efficiency

Technology development and technological innovation are the core engines driving Haitian Flavouring's performance growth. The Company proactively embraces the AI era, deeply integrating artificial intelligence and big data into the entire chain of R&D, production, supply, and sales. This promotes the organic integration of cutting-edge digital technologies with millennia-old brewing techniques, achieving a comprehensive leap in production efficiency, product quality, and operational effectiveness.

Every year, Haitian maintained R&D investment at approximately 3% of its operating revenue, solidifying the foundation for innovation with a long-term perspective. Meanwhile, the Company’s Gaoming production base was successfully recognized as the world's first "Lighthouse Factory" in the soy sauce brewing industry, a benchmark for smart manufacturing certified by the World Economic Forum, redefining the Digitalization height of the traditional condiments industry.

With comprehensive digital empowerment, Haitian's supply chain operational efficiency has significantly improved. In 2025, the Company's On-Time In-Full (OTIF) delivery rate continued to optimize, and customer service levels reached a new height. At the same time, the ratios of manufacturing expenses and direct labor costs to operating costs-two core cost indicators- surpassed those of most peers,  achieving a dual breakthrough in quality improvement, efficiency enhancement, and cost control.

Thanks to its outstanding digital practices, in 2025, the Company won numerous awards, including the "CGF China Supply Chain Digitalization and Sustainable Resilience Development Case" and the "National Typical Cases of Digital Transformation in Manufacturing", establishing itself as a benchmark for digital transformation in the industry. Additionally, the national standard " General Technical Requirements for Food Production Digital Factories", led by Haitian, was officially released. This fills the gap in the field of digital factory construction in China's food industry and provides authoritative and unified technical guidelines and an implementation framework for the Digitalization upgrading of the food industry.

Leveraging smart technologies, the Company also achieved notable progress in green manufacturing. In terms of energy structure, the scale of solar photovoltaic power stations increased by nearly 100%, and a biomass power generation project was also put into operation. Power generated from green energy reached 29 million kWh, while the share of green electricity exceeded 28%. Through a smart water-saving system, the Company made dedicated efforts to set a benchmark in water conservation, recycling 1.88 million cubic meters of water over the past year, equivalent to the capacity of 752 standard swimming pools. In 2025, the Company implemented 128 energy-saving and carbon-reduction initiatives, these efforts resulted in a total reduction of 29,000 tonnes of carbon dioxide equivalent, marking a solid step forward in its green and low-carbon development.

Accelerating Global Expansion, Charting a New Course on the World Stage

While maintaining its leading position and deepening its presence in the domestic market, Haitian Flavouring has been proactively expanding its international footprint and accelerating its pace to "set sail" for global markets. Adhering to a dual-track development approach of "global standards + local adaptation," the Company’s products are now sold in over 80 countries and regions worldwide. It has been named a "Chinese Brand Loved by Foreigners" for two consecutive years, reflecting its growing international influence and marking a transition from "product export" to "enterprise globalization."

Recently, the Company successfully upgraded its British Retail Consortium (BRC) rating from Grade B to Grade A, a testament to its quality control system receiving internationally recognized accreditation and achieving a world-class standard. This accomplishment has instilled strong confidence in the Company’s efforts to further expand its global footprint and enter premium retail channels in Europe and the United States, while also underscoring the high quality and international competitiveness of Haitian’s products.

On March 17, the Company was recognized as a Leading Enterprise in the 2026 Forbes China Pioneer Innovators in Industry Development Selection in recognition of its digital and intelligent transformation as well as its green development practices, affirming the Company’s long-term value creation.

In June 2025, the Company was successfully listed on the Hong Kong Stock Exchange, marking a new milestone as it now operates on the dual A+H share platform. The listing attracted eight prominent domestic and international institutions, including Hillhouse Capital and the Government of Singapore Investment Corp (GIC), to serve as cornerstone investors, underscoring the international market's recognition of the Company's growth potential and providing ample capital to support its global expansion strategy. In the same year, the Company also established its overseas production base, further enhancing its global production and sales network. This provides a solid foundation for building a global supply chain and leveraging the Company's competitive advantages from the domestic market, marking a critical step forward in the execution of its internationalization strategy.

On the brand development front, the Company continues to deepen its commitment to “400-Year Legacy of Oriental Flavor” Through iconic IPs such as Chef of China, it has captured widespread attention across Mainland China, Hong Kong, Macao, Taiwan, and beyond, creating a deep resonance between traditional brewing culture and modern consumer experiences. In addition, the Company launched the “Ambassador for Chinese Flavor” Initiative, bringing together collaborators to ignite global enthusiasm for authentic Chinese cuisine.

Overall, in 2025, Haitian Flavouring delivered an impressive performance, driven by its steady operations and forward-looking strategy. Building on a comprehensive product matrix and leveraging digital empowerment, the Company has successfully achieved a strategic transformation through in-depth, full-channel operations. This has enabled it to establish a core competitive edge capable of withstanding market volatility and navigating industry cycles.

Looking ahead, the Company will continue to uphold its dedication to craftsmanship and innovation, further consolidate its leading position in the domestic market, and steadily accelerate its global expansion. By doing so, it aims to support the high-quality development of the traditional condiment industry, bring the taste of China to the world, and continue to lead the industry toward a new era of higher quality.

Over the past year, the global economy has been marked by complexity and volatility, with heightened uncertainties arising from geopolitical tensions, inflation and exchange rate fluctuations. Compounded by intensifying competition amid a contracting domestic infant milk formula (IMF) market, the industry has faced multiple severe challenges. Against this backdrop, Ausnutria has maintained its strategic resolve, deepening its core strengths. The Company's international business has continued to unleash its growth momentum, while the Family Nutrition business has flourished across multiple fronts. Market share in core milk powder categories has steadily increased, and the level of refined management has improved significantly. Through these multi-dimensional efforts to enhance operational resilience, Ausnutria has laid a solid foundation for its long-term development.

Kabrita International Business Approaches RMB1 Billion Mark with CAGR Exceeding 50% for Three Consecutive Years

In 2025, Ausnutria further accelerated its internationalization efforts, continuously strengthening its comprehensive capabilities in global supply chain deployment, localised operations and digital collaboration, driving continued explosive growth in its overseas business. During the reporting period, revenue from the international business of Ausnutria's goat milk formula brand Kabrita recorded a year-on-year increase of 50.7% to approximately RMB974 million, making it the first infant goat milk formula brand from a Chinese dairy company to approach RMB1 billion in overseas sales. With a compound annual growth rate exceeding 50% for three consecutive years, the growing contribution of overseas markets has become increasingly prominent.

Revenue from the Middle East market recorded a year-on-year increase of 65.5%, accounting for 45.7% of total overseas revenue and maintaining its position as Ausnutria's largest overseas sales market. Growth in this region was primarily driven by strong performance across established markets including Saudi Arabia, the UAE, Qatar and Kuwait, where the Company strengthened its promotion through medical and healthcare professional channels, continuously enhancing the medical endorsement of its goat milk formula products in these markets. Saudi Arabia delivered a particularly outstanding performance, leveraging deep collaborations with local maternity, infant care and medical institutions to effectively boost consumer acceptance and market penetration. Notably, Kabrita was awarded the "Fastest Growing Brand" accolade by Nahdi, the largest pharmacy retailer in the country. The newly entered Oman market in 2025 also exceeded expectations, injecting fresh momentum into the Company's growth.

Revenue from the Commonwealth of Independent States (CIS) market recorded a year-on-year increase of 40.1%, accounting for 23.9% of total overseas revenue. As one of the Company's earliest overseas markets, the CIS market has achieved full product category coverage for Kabrita, encompassing infant formula, cereals, fruit purees, biscuits and more, comprehensively meeting the diverse consumer needs in the region. Through its "360° Omni-channel Marketing" strategy and "DTC Loyalty Program", the Company has engaged target consumers in a distinctive manner, building high value-added brand recognition and continuously consolidating and strengthening its core competitiveness in this market.

Revenue from the North American market recorded a year-on-year increase of 39.5%, accounting for 22.2% of total overseas revenue. In 2025, Kabrita successfully entered Walmart, the largest retailer in the United States, and has now expanded into 780 stores, progressively developing both online and offline channels to reach a broader consumer base. In the newly entered Canadian market, the Company has been deepening its presence through the core Walmart channel while gradually building momentum on Amazon.

In addition, the Company achieved 100% year-on-year growth in the Southeast Asian market by strengthening product differentiation through formula upgrades, with a particular focus on advancing digital community engagement and deepening collaboration with e-commerce channels and local platforms.

Family Nutrition Achieves Steady Growth, Building Multi-dimensional Foundations for Future Success

As the Company's continuously nurtured "second growth curve" business, Ausnutria's nutrition products business achieved steady growth in 2025, with revenue recording a year-on-year increase of 5.2%. According to the announcement, this revenue growth was primarily attributable to continuous innovation in star probiotic strains and products, precise execution of channel strategies, and the sustained release of brand equity.

Research-driven brand development. Ausnutria entered into a six-year strategic partnership with Jiangnan University, establishing the Joint Innovation Centre for Microecology and Functional Dairy as well as the Collaborative Innovation Centre for Probiotics, embarking on a new chapter of full-chain innovation collaboration. In the B2B segment, the Company achieved several key breakthroughs in probiotic strains: Bifidobacterium longum subsp. infantis YLGB-1496 was approved by the National Health Commission (NHC) for inclusion in the list of edible bacterial strains for infants and young children. With this approval, Ausnutria now possesses two nationally approved infant probiotic strains, earning its distinction as the "double champion" in China's infant probiotics field. Additionally, the independently developed Bifidobacterium animalis subsp. lactis CP-9 obtained the U.S. FDA GRAS (Generally Recognized as Safe) certification, marking Ausnutria's achievement of world-leading standards in research innovation and quality control. The continuous breakthroughs in strain technology provide strong and enduring core momentum for brand development. In the B2C segment in 2025, NC Stomach Care Powder and NC Nasal Comfort Probiotics maintained top rankings in category search popularity on Xiaohongshu. As certified by Euromonitor International, NC was awarded the title of "No.1 in National Sales of Australian Brand Nasal Sensitivity Probiotics".

Innovation in response to emerging consumer demands. Bio(R) (Baoyichang(R)) Active Lactic Acid Bacteria Powder introduced a mini space capsule design, setting new aesthetic standards for probiotic products. Yili Changshi Probiotics, formulated with the patented BL-99 strain, achieved a top position on e-commerce bestseller lists. Diversified dosage form solutions, including instant-dissolve powder and micro-effervescent tablets, have effectively enhanced the product competitiveness of business partners. Throughout the year, NC launched 17 new products including G13 Growth Capsules and Sleep Well Probiotics, building a precision nutrition matrix covering gastrointestinal health, nasal sensitivity, sleep, growth, eye and brain health, liver and kidney health, and women's health.

Channel upgrades fueling business development. The Company continued to deepen its presence in pharmaceutical channels, achieving simultaneous growth in both scale and pace of expansion. Collaboration with leading platforms was further strengthened, driving rapid growth in private domain e-commerce. The application of star probiotic strains was reinforced, enabling continued expansion of brand clientele. The Company also made breakthroughs in overseas market reach by expanding into European and North American markets. NC achieved steady growth on mainstream e-commerce platforms such as Tmall and JD.com, with the Stomach Care and Nasal Comfort product lines becoming leading brands in the cross-border health supplement category through channels such as Sam's Club and China Duty Free (CDF). The Company partnered with XKA and Fengxiangjia to develop its private domain presence, building an incremental online growth matrix. Offline, the Company consolidated its core client base, expanded into potential customer segments, and achieved initial results from pharmaceutical channel pilot programmes, laying a solid foundation for diversified business development.

Domestic Milk Powder Business Steadily Increases Market Share, Solidifying Core Fundamentals

China's infant milk formula (IMF) industry is currently undergoing a period of deep structural adjustment, facing multiple pressures including overall market contraction, intensifying competition, and channel transformation, while birth rate fundamentals and channel structure remain under sustained pressure. During the reporting period, Ausnutria solidified its core fundamentals amid cyclical industry challenges, achieving steady growth in market share for its self-owned milk powder brands and recording overall revenue of approximately RMB5.321 billion.

According to NielsenIQ and Syntun data, Kabrita's market share in China's all-channel Goat Milk formula market increased by 2.6 percentage points to 30.2% in 2025. NielsenIQ data further shows that Kabrita has maintained a market share of over 60% in China's imported infant and child goat milk formula market for eight consecutive years (2018–2025). Confirmed by Frost & Sullivan research, Kabrita continues to hold the undisputed position of "No.1 in Global Goat Milk Formula by Both Sales Volume and Sales Value", underscoring its unassailable market leadership.

NielsenIQ data also indicates that the Company's cow milk formula business has stabilised its market share, marking the full conclusion of the transitional impact arising from earlier internal integration and channel restructuring. As of the date of this announcement, Ausnutria's Hyproca brand has been awarded dual certifications by iiMedia Research, namely "No.1 in National Sales of Comprehensive Nutrition Infant Formula in 2025" and "Pioneer of Comprehensive Nutrition Infant Formula in China", marking the third consecutive year that Hyproca has topped the comprehensive nutrition formula sales rankings.

In 2025, the Company successfully completed the registration of 24 products across 8 series under the New National Standard 2.0 and launched 6 infant formula products across 2 series as well as 25 modulated milk powder products, offering consumers a wider range of functionalised and differentiated product choices. Kabrita was awarded the First Prize for Technological Advancement at the Science and Technology Awards for its research and development project titled "Research and Development of an Infant Formula that Supports Immune Regulation and Alleviates Immune Stress". Meanwhile, Hyproca 1897 was recognized as a "100% Quality Product", with the Company's product strength receiving authoritative endorsement.

Lean Management Enhances Quality and Efficiency, Organizational Vitality Continues to Flourish

In 2025, Ausnutria continued to solidify the foundation for long-term development and achieve simultaneous improvements in organizational efficiency and development quality through a series of initiatives, including fully leveraging the momentum of its global supply chain, strengthening internal management effectiveness, establishing the cultural foundation for global collaboration, advancing the construction of its digital intelligence system, and enhancing its sustainable development governance capabilities.

Global supply chain momentum unlocks new value growth opportunities. Following Ausnutria's acquisition of Amalthea Group, a Dutch goat cheese company, the Company achieved self-sufficiency in goat whey, a core ingredient for goat milk formula, while also adding cheese to its product portfolio. In 2025, the Company's Goat Cheese business recorded revenue of RMB1.006 billion, further deepening the moat of its internationalization strategy. Concurrently, the Company launched four major goat-based ingredients: goat cheese protein hydrolysate, hydrolyzed goat whey protein powder, goat lactoferrin, and goat colostrum powder. Several of these core goat milk ingredients achieved breakthroughs in commercially viable global applications from scratch, opening up new avenues for value creation for the Company.

Internal management effectiveness strengthened to systematically drive sound operations. In 2025, the Company's inventory impairment provisions decreased by 0.9 percentage points year-on-year. Overall asset turnover ratio continued to improve, with inventory turnover days declining by 16 days. The Company continued to advance refined cost management, achieving a notable optimization in its expense ratio, which decreased by 1.4 percentage points year-on-year, with the selling and marketing expense ratio declining by 2.4 percentage points year-on-year.

Global systematization of business philosophy to strengthen global strategic synergy. To better align with the pace of business development and reinforce Ausnutria's "one global chessboard" strategic approach, the Company officially released the "Ausnutria Business Philosophy (Overseas Edition)". Co-created through multiple rounds of in-depth discussions among over 60 core managers from Ausnutria's global operations, this business philosophy systematically establishes the core values and management principles for Ausnutria's overseas business. It serves as a tailor-made cultural compass and behavioral benchmark for overseas teams, laying a solid ideological foundation for future business development.

Full-chain digital intelligence upgrade, empowering both business and management. The Company has introduced digital intelligence across all stages, from demand research and process design to implementation and execution, enabling traceable decision-making, monitorable processes and quantifiable results. Through the establishment of a data middle platform, intelligent analytical models and other tools, data has become the core enabler for optimising management and supporting business operations, fundamentally safeguarding the sustained and healthy development of the business.

Upholding sustainable development principles and actively fulfilling corporate social responsibility. The Company has always adhered to a long-term vision for sustainable development, actively responding to the United Nations Sustainable Development Goals. Centred on three strategic pillars "Better Life, Better Nutrition, Better Environment” the Company has embedded sustainability principles into its operational management framework and across all stages of the value chain. In 2025, Ausnutria organized the "Hyproca Gesang Flower Charity Campaign" for the ninth consecutive year and launched the "Kabrita Care · Worry-free Pregnancy" maternal mental health charity initiative, among other activities. The Company has continued to contribute its corporate strengths in areas such as rural revitalization, education support, national nutrition enhancement and natural disaster relief.

In 2025, with the support of consumers, shareholders and all sectors of society worldwide, together with the dedicated efforts of all employees, the Company successfully navigated the multiple challenges arising from economic and industry cyclical adjustments. Looking ahead to 2026, the internal and external environment remains complex and challenging. Ausnutria will continue to put consumers at the center, stay anchored to its operational objectives, accelerate systematic organizational development, drive growth through innovation, enhance efficiency through management excellence, and deliver superior products and performance to reward the trust of all stakeholders, in pursuit of long-term sustainable and high-quality development.

Financial Highlights (Audited)

HONG KONG, Mar 26, 2026 - (ACN Newswire) - Dynasty Fine Wines Group Limited (“Dynasty” or “the Group”) (Stock Code: 00828), a premier grape winemaker in China, today announced its audited annual results for the year ended 31 December 2025 (“the Year”).

In 2025, due to the impact of macroeconomy as well as weak demand in wine consumer market in the PRC, the Group’s sales of medium to high-end products significantly declined, resulting in a 37% year-on-year decrease in revenue to HK$170.0 million. In addition, due to the decline in sales revenue and gross margin, as well as an increase in loss allowances for trade receivables owing to extended repayment from certain distributors, the profit attributable to owners of the Company decreased by 59% year-on-year to approximately HK$13.7 million, although such decrease in profit was already partly offset by a net gain on compensatory surrender recognised during the year. Earnings per share of the Company was HK0.97 cents per Share.

With strengthened marketing effort for dry white in coastal region and the launch of new white wine and sparkling wine products, sales of white wine products served as the Group’s primary revenue contributor. Sales of red and white wines products accounted for approximately 39% and 54% of the revenue respectively for the year (2024: approximately 41% and 56% respectively). The gross margin of red wine products and white wine products in 2025 were 25% and 35% respectively (2024: 36% and 41% respectively). The overall gross profit margin decreased to 31% in 2025 (2024: 39%), mainly due to change in product mix with more products with lower prices and margin in response to market dynamics and needs during the year.

The Group has been actively pursuing innovation, embracing the “5+4+N” product strategy, with “N” standing for developing various customised products and continuously creating new products to meet the diverse needs of different Chinese consumer groups. During the year, the Group launched a new gift set product, i.e. Dynasty Chinese Zodiac Commemorative Dry Red Wine for the Yi Si Year of Snake, integrating with the Chinese zodiac culture and the leading rise of Chinese-style fashionable products, by presenting the zodiac culture in a youthful visual language to attract potential consumers. In addition, based on its existing high-quality products, the Group continues to introduce new products and promote product upgrades. The Group participated in the 112th China Food & Drinks Fair in March 2025, introducing new products such as Tianyang Tea-flavoured wine series, Dynasty Baifu VSOP brandy, etc., to further improve its product matrix and provide consumers with diverse consumption choices. Breaking through from the constraints of traditional wine, this tea-flavoured wine series, with its core concept of “tea and wine fusion,” has captured market attention with its unique craftsmanship. During the China Food & Drinks Fair, the Group also held wine-tasting events, where the new wines from Dynasty Ningxia Winery won industry praise for their unique flavor and exquisite craftsmanship. In the second half of the year, the Group also introduced new products “Hi” tea-flavoured wine series in response to the market need, which are very suitable for ready-to-drink scenarios among young consumers.

In addition to enriching the product matrix, the Group has been closely cooperating with distributors, pressing ahead with its marketing campaign, accelerating the innovation of consumption scenarios, and enhancing and strengthening the wine cultural experience. The Group held its national tour tasting and business events, new products launch ceremonies at various exhibitions and wine fairs, as well as promotion activities for the 20th anniversary of listing in Hong Kong, during which the Group actively promoted its latest product mix that covered all product lines.

During the year, two joint venture companies approved by the Group were established in February 2025, for the manufacturing and sales of yellow wine and Chenpi wine and trading of sauce-flavour baijiu products nationwide in the PRC respectively. For the yellow wine project, installation and testing of production equipment of a manufacturing plant with a tank capacity of 3,000 tonnes of yellow wine and special yellow wine – Chenpi wine in Jiangsu is expected to be completed in the second half of 2026. Upon completion of the project, the Group will be able to produce special yellow wine – Dongtai Chenpi Wine which allows the Group to effectively expand product categories, seize development opportunities in the Chinese yellow wine industry. The project expansion aims to effectively implement Dynasty’s strategic plan, further improving the industrial layout, expanding category tracks, tapping into industry potential, creating new performance growth points, and realising Dynasty Group’s transformation into a full category, full industry-chain enterprise. For the sauce-flavour baijiu segment, Dynasty sauce-flavour baijiu products, namely ‘Han’, ‘Tang’, ‘Song’ and ‘Ming’ have been newly launched in the core-market in Tianjin and Shanghai and will be further strategically promoted to other regions in 2026. The sauce-flavour baijiu products satisfy the needs of customer groups with different spending habits and contributing to the Group’s business. In the future, the continuous development and expansion of the sauce-flavour baijiu industry and the improvement of the level of customer groups will inevitably and effectively drive the increase in the sales scale of Dynasty wine and related products, thereby enhancing our industry influence and brand awareness.

Regarding online sales, the e-commerce team of the Group comprehensively operates online stores itself on the traditional e-commerce platforms, such as JD.com, Tmall and Pinduoduo  for product sales, as well as comprehensive innovation on its brand, product categories, and business systems, procedures and models via interest-based e-commerce platforms, including Rednote, Kuai and TikTok. The Group continues investing resources in a timely manner for improvement of the online sales channels and optimisation of online stores interface so as to capture the change of customer consumption behaviour in the PRC. The Group jointly develops exclusive products with leading e-commerce platforms, and promote AI livestreaming models in various channels to increase brand exposure and livestreaming sales, adopts big data analysis to accurately understand consumer demand, and injects strong momentum into the continued expansion of market scale. To establish an online brand matrix, the Group selected and authorised new online distributors during the year. The Group believes that the online platforms not only serve as business-to-customer trading platforms between the Group and the consumers, but also additional marketing and promotion channels for the brand, which can enhance the overall business potential of the Group.

During the year, the Group had boasted brilliant results in major wine appraisal competitions. Among the numerous awards, “Dynasty Jin. Y Brandy XO barrel-aged 12 years” has won the Silver Award, at the 2025 International Wine & Spirit Competition (“IWSC”). The competition is considered the international standard for wine and spirits quality. Dynasty Baifu VSOP Brandy, Golden Dynasty Marselan Dry Red Wine, as well as Tianyang Tea Wine series are also awarded at the “2024 Qingzhuo Awards” in respective categories by China Alcoholic Beverages Association. “Dynasty Mengyuan White wine” has also won the Grand Gold Medal at the France International Wine Awards (“FIWA”) China region, Spring 2025 for its excellent quality. In addition, “Dynasty Inherit series – Dry Red Wine” has garnered the Gold Award at the same competition. These wines stood out from other entries for their elegant aroma, smooth body and round taste, and won the awards at the competitions, showing the charm and strengths of Dynasty wines to the country and the world. Dynasty has won the Silver Medal in the Sparkling Wine/China category, the Silver Medal in the Dry Wine/China category, and the Bronze Medal in the Medium/China category for its Dynasty Tianyang Winery Jasmine Sparkling Wine, Dynasty Inherit Series – Dry Red Wine, and Dynasty Inherit Series – Semi Dry White Wine, respectively, at the 2025 Cathay Global Wine & Spirits Awards Asia (“GWSAA”) (formerly known as the Cathay Hong Kong International Wine & Spirit Competition (“HKIWSC”)). This marks the 15th consecutive year that Dynasty products have won awards at the event, demonstrating industry-wide recognition of Dynasty’s exceptional winemaking skill and quality. In addition, “Dynasty Pinyue VSOP brandy” also won the Gold Medal in the brandy category of 2025 China Fine Wine Challenge.

Mr. Wan Shoupeng, Chairman of Dynasty, concluded, “Looking ahead to 2026, the Group will continue to focus on market and consumer demand, reinvent consumption scenarios and promote product quality. At the same time, the Group will continue to innovate marketing strategies to stimulate brand vitality, further expand the market share of Dynasty’s products, strengthen Dynasty’s brand image as a representative of domestic wines, and set a benchmark for the Chinese wine industry, with the aim of bringing Dynasty’s superior wines to more consumers in the PRC. The Group will continue to uphold quality, seize the development trend of low-alcohol and younger consumer markets, and proactively develop new marketing prospects through innovation in products categories and consumption scenarios.”

About Dynasty Fine Wines Group Limited

Dynasty Fine Wines Group Limited was listed on the Main Board of The Stock Exchange of Hong Kong Limited with the stock code 00828 on 26 January 2005. Founded in 1980, Dynasty is the premier grape winemaker in China. It is principally engaged in the production and sale of grape wine products under its reputable “Dynasty” brand. Dynasty is the first Sino-foreign joint venture wine company in China with Tianjin Food Group Limited and the French grape wine giant, Remy Cointreau, as its current major shareholders. The Group produces and sells more than 100 grape wine product series, and introduces imported wine products, providing high-quality and value-for-money grape wines to the full range of consumer groups in China.

For media enquiries:
Strategic Financial Relations (China) Limited
Ms. Anita Cheung Tel: 2864 4827
Ms. Gianna Ye    Tel: 2864 4837
Ms. Hazel Ye     Tel: 2864 4893
Ms. Chloe Lyu    Tel: 2864 4835
Email: sprg-dynasty@sprg.com.hk

HONG KONG, Mar 26 , 2026 - (ACN Newswire) – Nissin Foods Company Limited (“Nissin Foods” or the “Company”, together with its subsidiaries, the “Group”; Stock code: 1475) today announced its annual results for the year ended 31 December 2025.

The Group’s revenue increased by 5.0% year-on-year from HK$3,811.9 million in 2024 to HK$4,001.1 million in 2025, driven by the continued growth of the core instant noodles business, improved consumer sentiment in the Chinese Mainland, and increased demand in overseas markets. Gross profit increased by 5.6% from HK$1,312.1 million in 2024 to HK$1,385.1 million in 2025. Gross profit margin slightly increased by 0.2 percentage points from 34.4% in 2024 to 34.6% in 2025 due to a more favourable sales mix and the Group’s continued implementation of cost efficiency initiatives, which effectively absorbed cost pressure and supported margin improvement.

Profit attributable to owners of the Company increased significantly by 64.9% year-on-year to HK$331.4 million, representing a net profit margin of 8.3% for the year. Profit and profitability improved substantially over the year, owing to enhanced operational efficiency and the absence of non-cash charges related to asset impairment losses recognised for the year ended 31 December 2024. The Group’s basic earnings per share increased to 31.76 HK cents for the year. At the Adjusted EBITDA level, the Group recorded an increase of 1.7% from HK$612.5 million in 2024 to HK$622.8 million in 2025, representing an Adjusted EBITDA margin of 15.6% for the year (2024: 16.1%). The Board recommends the payment of a final dividend of 15.88 HK cents per share, representing a dividend payout ratio of 50.0%.

Review & Prospects by Business Region

During the year under review, revenue from the Hong Kong and other regions operations increased by 7.7% to HK$1,658.7 million, mainly attributable to the steady performance of the instant noodles business in Hong Kong and increased demand in other regions. Segment results rose by 16.1% to HK$152.8 million, driven by continued sales expansion in the premium instant noodles category. Meanwhile, revenue from the Chinese Mainland operations increased moderately by 3.1% to HK$2,342.4 million for the year, with segment results rose by 3.5% to HK$339.9 million, mainly attributable to ongoing efforts to expand sales in inland areas and the sustained sales momentum in the Chinese Mainland.

In Hong Kong, the Company continued to enrich its instant noodle portfolio with new SKUs, including Cup Noodles Regular Cup Kyoto Tori Paitan Flavour Instant Noodle and Donbei Meat Broth Flavour Cup Udon (Instant Noodle). To boost sales and consumer engagement, Cup Noodles and Demae Iccho partnered with the virtual singer “Hatsune Miku”. The Company also enhanced its digital marketing in catering channels through a WeChat mini programme. In line with its premiumisation strategy for its frozen food business, the Company launched the Nissin The Chef’s Signature series to cater to consumers seeking elevated home culinary experiences. Meanwhile, the Company continued to broaden its non-noodle portfolio, strengthening its beverage line with seasonal products and expanding the Crisp Choco snack line with a new bite-sized mini version. Hong Kong-made Nissin Granola and fresh-cut vegetable continued to appeal to health-conscious consumers, reinforcing the Company’s commitment to health, wellness and nutrition.

For its overseas markets, the Group pursued strategic market expansion and brand enhancement, achieving significant progress. In Vietnam, which remained one of Southeast Asia’s fastest-growing economies, the Company capitalised on strong consumer demand by expanding its sales and distribution channels into modern retail and targeting the youth segment with new products. In Taiwan, the establishment of a wholly-owned subsidiary has provided clearer sales direction and enhanced support to local partners, contributing to sales momentum and long-term business growth. In Korea, the business achieved a solid performance, leveraging the global popularity of K-content and Nissin's international sales network to expand its Gaemi Food Co. Ltd. (“Gaemi Food”) confectionery products into new overseas markets. Meanwhile, in Australia, the Company deepened the operational integration of ABC Pastry Holdings Pty Ltd (“ABC Pastry”) while also broadening its sales network for instant noodle products by capitalising on the growing interest in Asian cuisines across both mainstream and Asian retail channels.

In the Chinese Mainland, the Company delivered a solid performance, driven by the volume expansion of its instant noodle business and strategic efforts to expand its geographical footprint into inland regions. To enhance consumer engagement and brand awareness, promotional activities were intensified through increased in-store food tasting, digital marketing on platforms such as the WeChat mini program, and a high-profile collaboration with the Japanese virtual singer “Hatsune Miku”. As part of its premiumisation strategy, the Company enriched its product offerings with new launches such as the Nissin Donbei Kitsune Cup Udon (Instant Noodle). The non-noodle business also demonstrated positive development; the distribution business broadened its portfolio with new premium imported products, including European bottled water, Japanese carbonated beverages, and Japanese chocolate and cookies, while the snack business performed well thanks to its potato chips and festive offerings such as the limited-edition Crisp Choco.

Demonstrating a strong commitment to mid- to long-term growth, the Group acquired land use rights of two land parcels in Zhuhai at an aggregate consideration of RMB30.68 million during the year. The Group intends to invest over RMB240 million in acquiring the Land Parcels, constructing new buildings, and installing new production lines.

Mr Kiyotaka ANDO, Executive Director, Chairman and Chief Executive Officer of Nissin Foods, said, “We are cautiously optimistic about our growth prospects as we continue to focus on cost control and operational efficiency. The global economy faces an uneven recovery due to geopolitical tensions and supply chain restructuring due to rising trade protectionism. Against this backdrop, we remain committed to continuous product upgrades and execution capabilities in markets where we see clear and sustainable demand. In Hong Kong, government initiatives are expected to underpin the economy and household spending, providing a more favourable environment for the continued premiumisation of our product portfolio. The Chinese Mainland offers significant opportunities with its growing middle class, while Vietnam's thriving retail sector and Korea's focus on health support our strategies. Additionally, the rising demand for high-quality frozen foods in Australia presents valuable growth potential.

By leveraging our premiumisation and diversification strategies, we strengthen our competitiveness across these regions. With a solid financial position, cash generation, and strong brand recognition, we are well-positioned for sustained revenue and earnings growth over the medium to long term.”

About Nissin Foods Company Limited

Nissin Foods Company Limited ("Nissin Foods”, together with its subsidiaries, 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, primarily focusing on the premium instant noodle segment. The Group officially established its presence in Hong Kong in 1984 and is the largest instant noodle company in Hong Kong. The Group primarily manufactures and sells instant noodles, high-quality frozen food products, including frozen dim sum and frozen noodles, and also sells and distributes other food and beverage products, including retort pouches, snacks, mineral water, sauce and vegetable products under its two core corporate brands, namely “NISSIN” and “DOLL” together with a diversified portfolio of iconic household premium 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. In addition, Nissin Foods operates business in other regions including Vietnam, Taiwan, Korea and Australia markets.

Nissin Foods is currently a constituent of five Hang Seng Indexes, namely: Hang Seng Composite Index, Hang Seng Composite SmallCap Index, Hang Seng Composite Industry Index - Consumer Staples, Hang Seng SCHK Consumption Index and Hang Seng SCHK Consumer Staples Index. Nissin Foods is eligible for trading under Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect. For more information, please visit www.nissingroup.com.hk.

HONG KONG, Mar 24, 2026 - (ACN Newswire) - On March 23, 2026, Tingyi (Cayman Islands) Holding Corp. (0322.HK, the “Company”, together with its subsidiaries, the “Group”) is pleased to announce its 2025 annual results. In 2025, amid drastic changes in consumer behaviours and a complex market environment, the Group remained firmly committed to the consumer-centric approach, advanced the high-quality development in a coordinated manner, promoted product innovation and upgrades to precisely meet the demands of diverse scenario-based needs, while accelerating the expansion into high-growth channels. It comprehensively improved overall operational efficiency and drove steady growth of all key financial indicators. For the twelve months ended on December 31, the Group’s revenue decreased by 2.0% year-on-year to RMB 79.068 billion. Among which, the revenue from the Instant Noodles Business was RMB28.421 billion, while the revenue from the Beverages Business was RMB50.123 billion. The gross profit margin grew 1.7 percentage points to 34.8% year-on-year, EBITDA increased by 10.2% year-on-year to RMB 10.607 billion. The profit attributable to shareholders of the Company increased significantly by 20.5% year-on-year to RMB4.501 billion. The directors recommended the payment of a final dividend and a special final dividend of RMB39.92 cents and RMB39.92 cents per ordinary share respectively. Dividend payout ratio for the year remained at 100%.

Financial Summary

In 2025, China's economy demonstrated resilience with a 5% year-on-year GDP growth. However, the food and beverage market entered into the stage of stock competition and demand upgrading for functional and emotional values. Brand, quality, and flavors remained key drivers of purchasing decisions. Additionally, emerging formats such as instant retail, snack discount stores, and membership stores had brought about drastic changes in channels and consumer behaviors. Against the backdrop of intensifying market competition and evolving consumption patterns, a company's core competitiveness increasingly lies in building a strong moat for their core brands. Those that continuously drive product innovation and channel optimization around consumer needs will be more agile in capturing market opportunities, strengthening consumer trust, and ultimately achieving high-quality and sustainable long-term development.

In 2025, the gross profit of the Instant Noodles business improved steadily. The Group’s revenue from the Instant Noodles Business was RMB28.421 billion, which grew slightly year-on-year, accounting for 35.9% of the Group’s total revenue. During the year, due to favorable raw material prices and selling prices, the gross profit margin of instant noodles expanded by 1.1 percentage points year-on-year to 29.7%, and the profit attributable to shareholders of the Company for the year of 2025 in the Instant Noodles Business increased significantly by 10.1% year-on-year to RMB 2.252 billion, driven by the year-on-year increase in gross profit margin. During the year, in the face of intensifying industry competition, the Instant Noodles Business steadily advanced its core strategy of “consolidating blockbuster products, seizing the popular flavors track, and cultivating innovative products.” By continuously improving the product portfolio and forging deep collaborations with popular IPs, it effectively amplified brand presence and steadily optimized gross margin structure. On the product front, the business relied on deep cultivation of core blockbuster products and iterative flavor upgrades, while closely aligning with evolving consumer trends to precisely target the health-focused and premium market segments, tapping into new growth opportunities. On the marketing front, it leveraged mainstream social platforms such as Bilibili and Xiaohongshu to conduct omnichannel communication, combined with cross-industry collaborations with well-known IPs to reinforce the brand perception of high-end and convenient consumption. As a result, brand influence and market recognition improved significantly. Meanwhile, guided by aerospace-grade quality standards, the business promoted the full application of aerospace patented temperature control technology in the production line, fully demonstrating the brand’s differentiated advantages in product quality and technological innovation.

The Beverages Business firmly executed the strategy of “consolidating core products and developing innovative products”, the revenue from the Beverages Business was RMB50.123 billion, accounting for 63.4% of the Group’s total revenue. During the year, due to favorable raw material prices and optimized product mix, the gross profit margin of Beverages expanded by 2.2 percentage points year on-year to 37.5%. Driven by a year-on-year expansion of gross profit margin, the profit attributable to shareholders of the Company in the Beverages Business for the year of 2025 increased significantly by 18.5% year-on-year to RMB 2.274 billion. During the year, the Beverages Business strengthened its core category advantages and proactively positioned itself in emerging tracks, establishing a collaborative growth model across the full product portfolio. On the product front, while consolidating core products, it continuously expanded into incremental growth segments by launching high-quality sugar-free offerings and aligning with the wellness consumption trend to create herbal wellness scenarios, successfully opening up new growth spaces such as products made from homologous medicinal and food materials. On the marketing front, the Company deepened IP collaborations to broaden audience reach, enhanced its presence in cultural tourism channels and high-end hotel partnerships, and targeted premium consumption scenarios. These efforts consistently elevated brand value, providing strong support for the business to achieve steady operations and sustainable growth.

Mr. Wei Hong-Chen, Chief Executive Officer, commented, “As the first year of the 15th Five-Year Plan period, 2026 is expected to see expanding domestic demand become a key driver of economic growth under a more proactive and effective macroeconomic policy, while the consumer market will also usher in a critical window of profound transformation. The food and beverage industry will closely follow the theme of high-quality development, and consumption stratification will become more refined. Functional attributes, emotional resonance, and green concepts are shifting from trends to mainstream factors, becoming core elements driving brand growth. In the face of opportunities and challenges in the new cycle, the Group will be guided by the spirit of “Back to Day 1” as its strategic direction, embracing the efficiency, agility and entrepreneurial drive of our founding days, and building a platform that encourages honesty, bold experimentation and mutual growth, thus fully unleashing the vitality of all employees. While unleashing organizational vitality, we will continue to strengthen our foundational R&D capabilities and digital operation systems. Rooted in the health needs of the nation, we will drive product iteration and upgrades through technological innovation, continuously elevate product value, and align high-quality supply with the evolving consumption landscape. Adhering to the “economic-ESG” sustainable development philosophy, we will internalize social responsibility as the foundation of our development, solidify user trust through quality products, build a brand moat with long-term value, and create a sustainable and stable return system for shareholders, propelling the Group toward steady and sustained progress in the new stage of high-quality development.”

About Tingyi (Cayman Islands) Holding Corp. (0322.HK)

Tingyi (Cayman Islands) Holding Corp. (the “Company”), and its subsidiaries (the “Group”) specialise in the production and distribution of instant noodles and beverages in the People’s Republic of China (the “PRC”). The Group started its instant noodle business in 1992, and expanded into 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 soft drinks in the PRC. After years of hard work and accumulation, “Master Kong” has become one of the best-known brands among consumers in the PRC.

For enquiries, please contact:

Investor Enquiries
Investor Relations Team, Tingyi (Cayman Islands) Holding Corp.
E-mail: ir@tingyi.com

Christensen China Limited
Stephanie Chen
E-mail: stephanie.chen@christensencomms.com
Tel: +852 2117 0861

HONG KONG, Mar 17, 2026 - (ACN Newswire) - Guoquan Food (Shanghai) Co., Ltd. (Stock Code: 2517.HK, “Guoquan”) recently released its annual results for the year ended December 31, 2025. The company delivered a stellar performance, showcasing remarkable growth resilience within the community catering retail sector.

The announcement reveals that while maintaining steady revenue growth, Guoquan has demonstrated a powerful surge in profitability. By adhering to its “community central kitchen” strategy, Guoquan has successfully converted its scale into a profit advantage through deep penetration of lower-tier markets, smart store upgrades, and the “one-product-one-factory” supply chain model.

Strong Financial Performance Driven by Substantial Improvements in Earnings Quality

In 2025, Guoquan achieved synchronized growth in scale and efficiency, with financial performance exceeding market expectations. According to the annual results, for the year ended December 31, 2025, the company recorded total revenue of RMB 7.81 billion, a year-on-year (YoY) increase of 20.7%. Net profit reached RMB 454 million, representing a stunning YoY surge of 88.2%, marking a major milestone in the company’s profitability. The core operating profit (Non-IFRS measure), which excludes non-recurring items, amounted to RMB 461 million, representing a year-on-year increase of 48.2%. Notably, the profit growth rate significantly outpaced revenue growth, reflecting continuous optimization of earning efficiency. The core operating profit margin rose to 5.9%, further improving from 2024.

In terms of profitability, the company maintained a stable gross margin of 21.6%. Cost control initiatives yielded significant results, as the growth rates of selling, distribution, and administrative expenses remained below the rate of revenue growth, allowing for the continuous release of economies of scale. Furthermore, the Board has proposed a final dividend of RMB 0.0381 per share (tax inclusive) for 2025. Total shareholder return via dividends and share repurchases for the full year amounted to approximately RMB 570 million.

Elevating Network Scale and Quality Through Lower-tier Market Penetration and Intelligent Evolution

In 2025, Guoquan further solidified its foundation as a ten-thousand-store enterprise, achieving dual breakthroughs in network scale and operational quality. As of December 31, 2025, the total store count rose to 11,566, with a net addition of 1,416 stores across 31 provinces, autonomous regions and municipalities. The franchise-led network structure remained stable, supported by a mature and highly efficient operational system.

Lower-tier markets functioned as a pivotal growth driver as the company accurately addressed consumption needs across counties and townships. In 2025, Guoquan achieved a net addition of 1,004 township stores, bringing the year-end total to 3,010 and representing 26.0% of the entire network. These township outlets have become a vital pillar of revenue growth by leveraging tailored product assortments and differentiated merchandising that align perfectly with the consumption patterns of lower-tier markets. Meanwhile, the company fast-tracked its intelligent transformation by completing smart and unmanned upgrades for over 3,000 retail stores during the year. The rollout of 24-hour unmanned outlets has successfully extended operating hours and reached a wider range of consumption scenarios, leading to a comprehensive elevation in both operational efficiency and service delivery.

Enhancing Omni-channel Operations to Maximize Membership Ecosystem

Guoquan has built an instant retail network through the deep integration of online and offline channels, establishing the “Guoquan Instant Commerce” system to consistently enhance omni-channel conversion capabilities. The company’s social media and e-commerce performance was particularly strong, leveraging a multi-tiered TikTok (Douyin) account matrix to achieve over 9.41 billion platform exposures. This digital momentum drove store-level GMV on TikTok (Douyin) to RMB 1.49 billion, representing a significant year-on-year increase of 75.3%.

The membership ecosystem reached a new milestone as registered members surged to 64.9 million by the end of 2025, up 57.1% year-on-year. The prepaid card program within this ecosystem yielded substantial results, with the year-end prepaid card balance reaching RMB 1.20 billion, a 22.3% increase from the previous year. This vast and highly engaged member base provides a robust foundation for maintaining stable store traffic and executing precision marketing strategies.

Fortifying Competitive Moats through Integrated Product and Supply Chain Excellence

Guided by its core product philosophy of “tasty, convenient and value-for-money”, Guoquan continued to diversify its product matrix in 2025 by launching 282 new SKUs in the hotpot and barbecue categories. The company upgraded its scenario-based offerings, including “Barbecue Camping Container Set”, “Crayfish Feast Set”, and “Six Popular Hot Pot Sets”, while expanding into the beverage segment with NFC fruit juices and craft beers to satisfy diverse consumer needs across all four daily meal occasions.

The company also deepened its industrial footprint as the “one-product-one-factory” strategy yielded significant results. During the reporting period, Guoquan operated seven major food production facilities covering core categories such as seasonings, paste and aquatic products, and beef, creating a comprehensive production capacity matrix. The commencement of the Hainan Danzhou food production base further optimized the company’s supply chain radius. This integrated “production-supply-retail” closed-loop system has substantially enhanced upstream bargaining power and cost control, establishing an impenetrable supply chain moat.

Scaling Innovative Formats and Unveiling the 2026 Four Stores Strategic Blueprint

In 2025, Guoquan actively explored new consumption scenarios with the successful rollout of innovative formats such as Guoquan Stir-fry and Guoquan Camping. These ventures have successfully extended the business from ingredient retail into freshly prepared meals and outdoor social dining, effectively unlocking a new growth curve for the company.

Looking ahead to 2026, the company will focus on the synergistic development of four stores jointly advancing with concerted efforts—county and rural markets, community stores, Guoquan Stir-fry, and Guoquan Camping—to further penetrate lower-tier markets, upgrade community outlets, and expand innovative scenarios. Guoquan has set clear operational targets for 2026: total store count to exceed 14,500 with a net addition of over 2,934 outlets; maintaining a closure rate below 4%; expanding the registered member base to over 95 million; and ensuring that core operating profit growth significantly outpaces revenue growth.

HONG KONG, Mar 13, 2026 - (ACN Newswire) – 12 March 2026, Guoquan Food (Shanghai) Co., Ltd. ("Guoquan" or the "Company"; stock code: 2517.HK), a leading one-stop home meal products brand in China, announced its annual results for the year ended 31 December 2025, which have been reviewed by the Audit Committee of the Board.

Adhering to the strategic positioning of "community central kitchen" in 2025, the Company successfully established a holistic instant retail store network through a multi-channel, multi-scenario omni-channel layout and the deep integration of online and offline operating models. The Company continuously delved into consumers' demand, developed and iterated a diverse suite of product portfolios, deepened refined store operation and management, and strengthened the construction of a membership ecosystem, effectively enhancing store operational efficiency and market competitiveness. Concurrently, the Company continued to deepen its industrial layout and promote the integrated closed-loop construction of "production, supply and marketing", achieving stable development throughout the year.

For the year ended 31 December 2025, the Company's revenue amounted to RMB7,810.0 million, representing a year-on-year increase of 20.7%. Gross profit reached RMB1,686.6 million, a year-on-year increase of 19.0%. Net profit was RMB453.9 million, a significant year-on-year increase of 88.2%. Core operating profit (adjusted for non-recurring items such as gains or losses on fair value changes on unlisted convertible redeemable preferred shares and donations for fire rescue in Tai Po, Hong Kong) was RMB460.7 million, representing a year-on-year increase of 48.2%. Basic and diluted earnings per share were RMB0.1630, a substantial year-on-year increase of 93.8%.

Continuously Strengthening Omni-channel Instant Retail: Offline Expansion and Online Engagement Drive Growth

As of 31 December 2025, the Company's total number of stores nationwide reached 11,566, a net increase of 1,416 stores from 10,150 as at the end of 2024, covering 31 provinces, autonomous regions and municipalities. In terms of regional store layout, the Company achieved a net increase of 1,004 township-level stores in 2025. Addressing the consumption characteristics and needs of township markets, the Company developed differentiated product structures and store displays, accurately aligning with consumer demands in lower-tier markets and further enhancing township market penetration. Concurrently, the Company continued to deploy smart retail scenarios in mid-to-high-tier markets, completing the intelligent and unmanned transformation and upgrade of over 3,000 retail stores in 2025, achieving synergistic development between lower-tier and mid-to-high-tier markets.

To empower franchisees, facilitate their sales growth, and further expand consumer reach while offering a more flexible shopping experience, the Company continuously provides support and guidance to franchisees in core areas such as store operations and business development. Leveraging the Company's Guoquan APP, WeChat mini-program, third-party food delivery platforms and social commerce platforms (such as Douyin), a multi-level online sales network has been established. In 2025, the Company achieved over 9.41 billion impressions on platforms through its multi-level Douyin accounts matrix. Stores generated GMV of RMB1.49 billion via the Douyin channel, representing a year-on-year increase of 75.3%.

Membership Ecosystem Continuously Improved; Product Portfolio Enhances in Scenarization and Richness

In 2025, the operation of the Guoquan membership program yielded significant results, further releasing the value of the membership ecosystem. During the Reporting Period, the number of the Company's registered members reached approximately 64.9 million, a year-on-year increase of 57.1%, demonstrating rapid expansion of the membership base. The prepaid card business also achieved stable growth, with the value stored in prepaid cards amounting to approximately RMB1.2 billion during the Reporting Period, a year-on-year increase of 22.3%. This indicates continuously improving member stickiness and consumption contribution, forging a closer connection with consumers.

Relying on its substantial membership base, the Company persistently pursues innovation in its product offerings, consistently upholding the business philosophy of providing consumers with "tasty, convenient and value-for-money" products. It continuously enriches its product portfolio and iterates new products to comprehensively meet consumers' diverse dining needs. As of 31 December 2025, the Company had introduced 282 new SKUs of hot pot and barbecue products. It created multiple scenarized meal suites such as the "Barbecue Camping Container Set", "Crayfish Feast Set", and "Six Popular Hot Pot Sets", achieving deep integration of products and consumption scenarios. Furthermore, the Company expanded its product categories within the drinks and beverage consumption scenario, launching products such as NFC fruit juices, craft beer, and flavored tea beverages. This continuously enhances the richness and diversification of the product matrix, further perfecting the one-stop meal products supply system.

Deepening Industrial Layout; Strengthening Digitalized Supply Chain Control

Guoquan continues to promote the integrated closed-loop construction of "production, supply and marketing". Adopting a "one-product-one-factory" strategy, it further deepens the breadth and depth of its industrial layout, providing solid production capacity support for business development. As of 31 December 2025, the Company possessed seven food ingredient production plants, covering core categories such as condiments, meatballs, paste and aquatic products, and beef products, forming a comprehensive and well-defined production capacity matrix. Concurrently, the construction of the Company's food production base in Danzhou, Hainan Province, officially commenced. This base will further expand its geographical coverage, optimize the supply chain's radiation radius, and strengthen the national production capacity layout and logistics reach.

This solid industrial foundation continuously improves the operational efficiency of the digitalized supply chain. Based on the supply chain system operating from factory to central warehouse and to retail stores, the Company can monitor supply and demand dynamics from the procurement end to the store end, and closely manage inventory levels, thereby achieving efficient management of the entire supply chain. As of 31 December 2025, the Company had deployed 20 digitalized central warehouses across China, achieving swift product circulation through digital stock and barcode management. Simultaneously, the digitalization of the supply chain covering core segments such as production, procurement, warehousing, and logistics allows for precise monitoring of supply-demand dynamics and inventory levels, ensuring the timely supply of products to stores in the Chinese mainland. This comprehensively enhances the overall operational efficiency of the supply chain, solidifying core barriers in cost control and quality assurance.

Six Core Strategic Directions: Continuously Advancing Business Upgrades

In 2026, Guoquan targets that the total number of stores will exceed 14,500, representing a net increase of over 2,934 stores, with an estimated store closure rate of less than 4%. It targets high-single-digit growth in store efficiency, and the number of registered members is targeted to exceed 95 million. The Company targets that the growth rate of core operating profit will be significantly higher than that of its revenue.

First, Fully expand the sales network with four stores jointly advancing with concerted efforts. Guoquan will continue to build a multi-level sales network, accelerate the expansion of large stores in townships, practice the philosophy of "food equality", and precisely meet the consumption needs of residents in county and township markets. Concurrently, it will explore innovative store formats and upgrade the franchisee management system to build a symbiotic and mutually beneficial franchise ecosystem.

Second, Deepen the strategy of community central kitchen to expand community consumption scenarios. The Company will focus on creating food retail solutions for "four meals a day", continuously diversifying its product categories and building a more competitive product matrix to achieve organic sales growth while further consolidating its advantages in lower-tier market layout.

Third, Deepen membership operation and IP to advance the community brand project. The Company will continue to advance refined membership operation, deeply integrate media resources such as popular TV commercials, offline community advertising and social media and e-commerce platforms (such as Douyin) to expand its membership base, and improve the membership rights system to enhance member loyalty and stickiness. Furthermore, it will further deepen the operation of its brand IP image "Guobao" to strengthen brand value and emotional resonance with consumers.

Fourth, AI big data empower stores to innovate smart retail scenarios. By integrating Internet of Things, big data, and AI technology, the Company will drive the smart operation of stores with data. It will promote the in-depth integration of the Guoquan stir-fry business format with smart cooking machines, accurately analyze consumers' dining habits, optimize dish parameters and cooking procedures for smart cooking machines, realize the standardized production of stir-fry dishes, and optimize the consumer experience.

Fifth, Continue to promote the industrial layout and strengthen the advantage of one-product-one-factory. Adhering to the "one-product-one-factory" strategy, Guoquan will further integrate upstream resources domestically and internationally, accelerate the construction of the food production base in Danzhou, Hainan Province, increase R&D investment, and launch more product portfolios with a high quality-price ratio.

Sixth, Develop overseas markets in phases to deliver the good taste of China. Guoquan plans to explore and establish a presence in overseas regional markets in a phased manner to unlock long-term growth potential. Leveraging its core competitiveness, it will steadily advance its overseas market exploration. It also plans to take the lead in opening stores in Hong Kong Special Administrative Region, China to accumulate and gather operational experience, gradually achieving overseas product sales and enhancing global brand visibility.

About Guoquan Food (Shanghai) CO., LTD. (2517.HK):

Guoquan Food (Shanghai) Co., Ltd. (“Guoquan”; Stock Code: 2517.HK) is the leading one-stop home meal products brand in China, offering a variety of ready-to-eat, ready-to-heat, ready-to-cook and prepared ingredients, with a focus on at-home hotpot and barbecue products.  Leveraging Company’s robust supply chain capabilities, a strategic industrial layout with self-owned factories, a nationwide network of around 10,000 instant retail stores, and a carefully curated product portfolio, Company offer a variety of home meal products solution under the “Guoquan Shihui” brand, catering to different dining scenarios.

This press release is issued by EverBloom (HK) Communications Consultants Group Limited on behalf of Guoquan Food (Shanghai) Co., Ltd.

The visit with underserved communities from the Penang Cheshire Home and volunteers together for a day of inclusion, connection, and shared moments in nature

TAIPING, Malaysia, Feb 20, 2026 - (ACN Newswire) - In conjunction with ongoing efforts to play their part in creating a more inclusive Malaysia, Spritzer Berhad (‘Spritzer’ or ‘the Company’), Malaysia’s leading natural mineral water brand, hosted residents and volunteers from the Penang Cheshire Home for a day of nature-based activities at the Spritzer EcoPark which is designed to be accessible and welcoming for persons with disabilities.

Spritzer EcoPark is known for being wheelchair-friendly to provide universal access, enabling persons with disabilities to navigate the space comfortably. The community engagement in the lush, natural setting of park reaffirms the Company’s commitment to wellness and meaningful human connection with underserved communities in Malaysia.

Photo 1: Spritzer EcoPark warmly welcomed volunteers and residents from Penang Cheshire Home

“The natural and tranquil environment of the Spritzer EcoPark offers the visitors a refreshing change of pace, allowing participants to explore the course freely together, share light-hearted moments and engage in recreational activities at their own pace. We have seen how natural spaces can foster joy, connection and confidence among individuals who may not often have access to outdoor recreational experiences. As a homegrown Malaysian brand, inclusion and how we serve communities around us is at the heart of our business and everyday decisions.

Welcoming the Penang Cheshire Home residents and volunteers to Spritzer EcoPark reminds us that shared experiences in nature and accessible spaces are powerful ways to nurture a sense of belonging and dignity for often marginalised groups. It was a heartwarming day of enjoying meals together, trying new activities and simply connecting on a human level, in an environment where everyone felt welcome and safe,” said Winnie Chin, Head of Public Relations at Spritzer.

“Visits like this are meaningful to our residents and volunteers, as it gives them the opportunity to step outside their daily routines and enjoy a welcoming environment together. We truly appreciate the accessibility and thoughtful setting at Spritzer EcoPark, which allowed everyone to participate comfortably, engage with each other on a deeper level and create memories together. Initiatives like these play an important role in fostering greater understanding, inclusion, and connection within the community,” said the President of the Penang Cheshire Home, Mr. Koay Say Loke Andrew.

Guided by its commitment to local community well-being, Spritzer believes that nature should be shared and experienced by everyone, regardless of ability, background or circumstance. This initiative is part of the Company’s ongoing outreach efforts to nurture shared moments that embrace diversity in spaces where all Malaysians can come together and enjoy the outdoors. The visit represents more than a community social responsibility (CSR) activity, it demonstrates Spritzer’s belief and commitment to meaningful, people-first community building.

The visit brought together 93 individuals, including residents with disabilities and volunteers, who received a warm reception with a communal lunch, allowing participants time to settle in before moving on to a mini golf activity within the park grounds. Designed to be interactive and enjoyable for all, the session encouraged bonding and active participation among attendees in a safe, comfortable and supportive setting.

Photo 2 and 3: Volunteers and residents, including residents with disabilities, had the chance to take part in activities like mini golf in a safe, accessible, and comfortable environment, while enjoying the lush green scenery

Spritzer acknowledges the longstanding impact of the Penang Cheshire Home, that has provided residential care, rehabilitation and skills development for persons with physical disabilities since 1978. The initiative with the Home is part of Spritzer’s broader commitment to championing inclusivity, well-being, and meaningful relationships. Moving forward, Spritzer EcoPark looks forward to welcoming more community groups and continuing its mission to create shared experiences that celebrate diversity and strengthen social bonds through nature-based activities.

About Spritzer

Established in 1989, Spritzer is a leading Malaysian bottled water brand, sourcing natural mineral water from a protected 430-acre rainforest in Taiping. Naturally filtered through underground rock layers for over 15 years, our water is enriched with essential minerals like Silica, known to support skin, bones, hair, and nails.

Combining smart manufacturing with sustainable practices, Spritzer ensures every bottle meets the highest quality and safety standards. Our packaging is 100% recyclable and made from recycled materials, reflecting our commitment to environmental stewardship and a circular economy.

Tested annually by SIRIM to be free from microplastics, Spritzer offers consumers trusted, natural hydration. Our diverse product range includes Natural Mineral Water, Original and Flavoured Sparkling Water, Distilled Water, and Fruit-Flavoured Beverages—crafted to suit every lifestyle and occasion.

With a clear vision to become a fully circular brand by 2030, Spritzer leads the industry in innovation, quality, and sustainability.

Spritzer — where nature, innovation, and sustainability come together in every bottle.

For more information, visit www.spritzer.com.my

For media inquiries please contact:

Imelia Kyra
Associate Consultant, Narro Communications
imelia@narrocomms.com

Winnie Chin
Head of Public Relations, Spritzer Bhd
winniecgl@spritzer.com.my       

SINGAPORE, Feb 19, 2026 - (ACN Newswire) - Asia’s largest food retailers, manufacturers, restaurant chains, and hospitality groups remain behind international better practice on sustainable and responsible protein sourcing, but progress is accelerating across the region, according to The Asian Protein Buyers 100: An Assessment of Responsible and Sustainable Sourcing released today by Asia Research & Engagement (ARE). 

The APB100 is a benchmark based on investor-backed priorities - assessing how 100 of Asia’s largest listed protein-buying companies — headquartered or operating across Hong Kong, India, Indonesia, Japan, Mainland China, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam — manage environmental, social, and governance risks embedded in meat, dairy, poultry, and seafood supply chains. Collectively, the companies assessed represent more than USD500 billion in market capitalisation and sit at the choke point of Asia’s protein system, where procurement decisions shape production standards, risk management and food-system outcomes.

The companies assessed include some of Asia’s most recognisable food and retail groups. These include China Mengniu Dairy, Yili Group, Yonghui and Yum China (Mainland China); AEON, Seven & I Holdings, Meiji, Nissin and NH Foods (Japan); CJ CheilJedang, Lotte and E-Mart (South Korea); Charoen Pokphand Foods and Thai Union (Thailand); Jollibee, Century Pacific Food and San Miguel Food & Beverage (Philippines); Vinamilk (Vietnam); and Hindustan Lever, Nestle India, Jubilant, Devyani, DMart, Westlife Foodworld (McDonald’s India) (India), among others.

Scores are improving, but the baseline remains low

Now in its second edition, the benchmark shows clear momentum since 2023 — but also highlights that most companies remain at an early stage of credible implementation.

The average overall score increased from 9% in 2023 to 16% in 2025, with around 80% of companies improving year-on-year. More than half of comparable companies moved up at least one performance tier.

However, no company reached the top two performance tiers, underscoring a persistent gap between sustainability commitments and on-the-ground execution.

A growing group of leaders is emerging

The number of companies in the leading Tier 3 group more than doubled from 10 in 2023 to 26 in 2025, while the lowest-scoring group halved from 44 to 21 companies.

Progress, however, remains uneven and concentrated among a subset of early movers and sustainability themes, while a significant minority of companies continues to disclose little or nothing across several material risk areas.

Climate, labour, and waste are moving fastest

Companies performed strongest on Water & Waste, Labour , and Climate Change, reflecting wider uptake of international disclosure frameworks and growing expectations around supply-chain due diligence.

Climate and labour show the fastest improvement since 2023, driven by emerging regulatory pressure and investor scrutiny, particularly around Scope 3 emissions and labour standards in supply chains.

Governance and protein diversification remain critical gaps

Several material risk areas continue to show weak performance. Governance in relation to protein sustainability, remains the lowest-scoring theme, averaging just 4.5%, with most companies scoring zero. Few have board-approved protein sustainability strategies, capital allocation plans, or accountability mechanisms.

Protein diversification also remains underdeveloped at 7.4%, indicating that most companies have yet to articulate how they will shift product portfolios toward truly low carbon plant proteins at scale.

Disclosures on deforestation and biodiversity, animal welfare, and antimicrobial resistance (AMR) also remain thin and rarely quantified. The intersection of climate and deforestation is still not being duly harnessed. Similarly, policies and procurement practices that strengthen animal welfare and enable antibiotic reduction remain a low point, with average animal welfare performance at just 14.1% and only one company aligned with recognised higher-welfare standards or independently certified disclosure.

Why this matters: Asia is the decisive region for global protein systems

Compared with innovative international peers, many of Asia’s protein buyers remain behind on deforestation-free sourcing, antibiotic stewardship, higher-welfare policies and procurement, plant-protein targets and science-based climate transition planning.

However, Asia now represents the most important opportunity for global leadership in responsible protein systems. And with less than five years to implement meaningful change towards various 2030 United Nations and related targets, the vision of a more responsible and sustainable food system is at risk.

“Asia is the world’s fastest-growing protein market, which means what happens here will determine the future of global food systems,” said Kate Blaszak, ARE Director, Protein Transition. “ThisAPB100 shows that disclosure and awareness are improving and aims to trigger a shift from Policy to Practice. With a realm of better practice examples in the report to also assist companies, the next phase must focus on full supply-chain coverage, measurable targets, and annual progress with board-level accountability.”

Download the APB100 Report HERE.

About Asia Research & Engagement (ARE)

ARE brings leading investors into dialogue with Asian-listed companies to address sustainable development challenges and help companies align with investor priorities. With decades of Asia experience, our cross-cultural team understands the region’s unique needs. Our high-quality independent research, robust investor network, and engagement expertise, provide corporate leaders and financial decision makers with insights leading to concrete action.

For media interviews and further enquiries, please contact:
Wani Diwakar
Asia Research & Engagement (ARE)
wani.diwakar@asiareengage.com