Tingyi (Cayman Islands) Holding (0322) AI Stock Analysis

• Market Cap: $64.09B
• Dividend Yield: 5.79%
• Average Volume (3M): 8.44M
• Price to Earnings (P/E): 14.4
• Beta (1Y): 0.59
• Revenue Growth: -1.68%
• EPS Growth: 22.06%
• Country: HK
• Employees: 64,802
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Packaged Foods
• EPS (TTM): 0.44
• Shares Outstanding: 5,636,516,600
• 10 Day Avg. Volume: 8,897,846
• 30 Day Avg. Volume: 8,441,205
• PEG Ratio: 0.72
• Price to Book (P/B): 3.76
• Price to Sales (P/S): 0.66
• P/FCF Ratio: 11.50
• Enterprise Value/Market Cap: 1.10
• Enterprise Value/Revenue: 0.89
• Enterprise Value/Gross Profit: 2.61
• Enterprise Value/Ebitda: 7.61
• 1Y Price Target: $12.61
• Price Target Upside: 7.38% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 67 Neutral
• Price Target: HK$13.00 ▲(10.73% Upside)

The overall stock score of 67 reflects a mixed financial performance with improved profitability but inconsistent revenue growth and cash flow challenges. The technical analysis shows bullish momentum, though the stock appears overbought. Valuation is reasonable with a strong dividend yield, making it attractive for income-focused investors.

Positive Factors

Profitability Improvement

Improved EBIT and EBITDA margins indicate better operational efficiency, which can enhance long-term profitability and competitiveness.

Strong Market Position

Holding a significant market share in China with a popular brand like Master Kong provides a competitive edge and stability in revenue streams.

Return on Equity

An improved return on equity indicates efficient use of shareholder funds, enhancing investor confidence and potential for reinvestment.

Negative Factors

Inconsistent Revenue Growth

Inconsistent revenue growth suggests challenges in maintaining sales momentum, which could impact long-term market expansion and profitability.

Increased Leverage

Increased leverage can strain financial flexibility and elevate risk, potentially affecting the company's ability to invest in growth opportunities.

Cash Flow Challenges

Challenges in cash flow generation limit the company's ability to fund operations and growth initiatives, impacting long-term sustainability.

Tingyi (Cayman Islands) Holding Business Overview & Revenue Model

Company Description

Tingyi (Cayman Islands) Holding Co., Ltd. is a leading food and beverage company based in the Cayman Islands, primarily engaged in the production and distribution of instant noodles, beverages, and other food products. The company operates in various sectors, including the fast-moving consumer goods (FMCG) industry, with a strong emphasis on its core products such as its popular Master Kong brand of instant noodles, bottled teas, and fruit juices. Tingyi holds a significant market share in China and has expanded its product offerings to meet the evolving preferences of consumers.

How the Company Makes Money

Tingyi generates revenue primarily through the sale of its instant noodles and beverage products. The company's main revenue streams include retail sales of packaged food and drinks, which are distributed through a wide network of supermarkets, convenience stores, and online platforms. Additionally, Tingyi benefits from strategic partnerships with various retailers and distributors, enhancing its market reach. The company also invests in marketing and brand development to strengthen consumer loyalty and promote new product launches, which contribute to its overall earnings.

Tingyi (Cayman Islands) Holding Financial Statement Overview

Summary

Tingyi (Cayman Islands) Holding shows a mixed financial performance. While profitability metrics like EBIT and EBITDA margins have improved, revenue growth has been inconsistent, and the company faces challenges in cash flow generation. The balance sheet indicates increased leverage, which could pose risks if not managed carefully.

Income Statement

The company's income statement shows a mixed performance. The gross profit margin has been relatively stable, with a slight increase in the TTM period to 34.03%. However, the net profit margin has decreased slightly over the years, currently at 5.18% TTM. Revenue growth has been inconsistent, with a negative growth rate of -0.69% in the TTM period, indicating potential challenges in maintaining sales momentum. EBIT and EBITDA margins have shown improvement, reflecting better operational efficiency.

Balance Sheet

The balance sheet reveals a moderate level of financial leverage, with a debt-to-equity ratio of 1.19 in the TTM period, which is higher than previous years, indicating increased reliance on debt. The return on equity has improved to 30.51% TTM, showcasing strong profitability relative to shareholder equity. However, the equity ratio has decreased, suggesting a higher proportion of assets financed by debt.

Cash Flow

Cash flow analysis indicates challenges in free cash flow generation, with a significant decline of -78.5% in the TTM period. The operating cash flow to net income ratio is relatively low at 0.21, suggesting limited cash generation from operations relative to net income. The free cash flow to net income ratio is moderate at 0.59, indicating some level of cash flow efficiency.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	79.54B	80.65B	80.42B	78.72B	74.08B	67.62B
Gross Profit	27.07B	26.70B	24.47B	22.90B	22.51B	22.43B
EBITDA	9.30B	8.67B	8.75B	7.86B	9.17B	10.03B
Net Income	4.12B	3.73B	3.12B	2.63B	3.80B	4.06B
Balance Sheet
Total Assets	55.95B	53.15B	53.15B	58.45B	60.31B	61.53B
Cash, Cash Equivalents and Short-Term Investments	13.08B	9.69B	11.40B	14.03B	16.56B	21.39B
Total Debt	15.25B	13.52B	14.06B	17.92B	14.02B	14.01B
Total Liabilities	39.88B	35.53B	35.93B	41.63B	37.90B	36.79B
Stockholders Equity	12.78B	14.23B	13.89B	13.37B	18.66B	21.11B
Cash Flow
Free Cash Flow	4.65B	4.66B	1.85B	1.24B	2.42B	6.32B
Operating Cash Flow	7.87B	8.26B	5.49B	4.48B	5.42B	8.55B
Investing Cash Flow	-2.91B	-2.86B	-3.72B	-3.38B	-4.04B	-2.89B
Financing Cash Flow	-4.01B	-4.67B	-7.32B	-4.62B	-6.94B	-1.63B

Tingyi (Cayman Islands) Holding Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 11.74
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0322, the sentiment is Neutral. The current price of 11.74 is below the 20-day moving average (MA) of 11.99, above the 50-day MA of 11.42, and above the 200-day MA of 11.69, indicating a neutral trend. The MACD of 0.07 indicates Positive momentum. The RSI at 47.82 is Neutral, neither overbought nor oversold. The STOCH value of 21.23 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:0322.

Tingyi (Cayman Islands) Holding Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
0288	75 Outperform	$106.36B	8.45	15.40%	6.82%	5.98%	62.13%
0322	67 Neutral	$64.09B	14.41	32.58%	5.79%	-1.68%	22.06%
0151	67 Neutral	$60.08B	12.84	24.70%	3.27%	2.03%	1.43%
1475	67 Neutral	HK$7.25B	34.91	5.55%	1.41%	7.29%	-33.19%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
2319	56 Neutral	$55.83B	―	-0.74%	3.80%	-7.36%	-107.25%
6186	55 Neutral	HK$38.13B	13.10	10.48%	6.90%	-0.64%	-24.62%

Tingyi (Cayman Islands) Holding Corporate Events

Tingyi Provides Additional Details on 2024 Annual and 2025 Interim Reports

Tingyi (Cayman Islands) Holding Corp. has released a supplemental announcement regarding its 2024 Annual Report and 2025 Interim Report. The announcement provides additional details on related party transactions and share option schemes. The company confirms compliance with applicable listing rules for connected transactions. The 2008 Share Option Scheme has expired with no options available for grant, while the 2018 Share Option Scheme has a significant number of shares available for issue, representing 7.32% of the issued share capital as of March 2025.

Tingyi Enters New Supply Agreement with Ting Fung for Key Ingredients

Tingyi (Cayman Islands) Holding Corp. has entered into a new Supply Agreement with Ting Fung, a company connected to its executive directors, for the purchase of modified potato starch, modified cassava starch, and seasoning flavor products. This agreement, effective from January 2026 to December 2028, is part of the company’s strategy to secure essential ingredients for its operations. The transactions under this agreement are classified as continuing connected transactions and are subject to specific reporting and review requirements, though they are exempt from independent shareholder approval.