Tingyi (Cayman Islands) Holding Corp. reported revenue of RMB 40.55 billion for the six months ended 30 June 2026, an increase of 1.1 % year on year. Gross profit rose 5.0 % to RMB 14.51 billion, lifting the consolidated gross margin by 1.3 percentage points to 35.8 %.
Net profit reached RMB 2.89 billion, up 7.5 %, while profit attributable to owners of the company improved 7.1 % to RMB 2.43 billion. Excluding one-off gains recognised in 2025, adjusted attributable profit advanced 15.2 %. Net margin widened to 6.0 % from 5.7 %. EBITDA increased 3.6 % to RMB 5.65 billion and earnings per share came in at RMB 0.4316.
Segment performance • Instant noodles revenue grew 2.0 % to RMB 13.73 billion, supported by a 3.3 % expansion in high-priced packet products and a 7.8 % rise in snack noodles. Segment gross margin improved 2.5 percentage points to 30.3 %, driving net profit to RMB 1.00 billion (+5.5 %).
• Beverage revenue inched up 0.7 % to RMB 26.54 billion. Tea beverages delivered 9.1 % growth, raising their share of the beverage mix to 43.9 %. Water (-4.9 %), juice (-13.0 %) and carbonated soft drinks/others (-2.8 %) recorded declines. Segment gross margin gained 0.7 percentage point to 38.4 %, with net profit up 10.4 % to RMB 1.94 billion.
Operational metrics Operating cash flow stood at RMB 3.34 billion, recovering from RMB 3.12 billion a year earlier, while capital expenditure fell to RMB 1.07 billion from RMB 1.56 billion. Cash conversion remained negative at ‑23.9 days, reflecting continued working-capital efficiency.
Annualised return on assets improved to 13.8 % (2025: 12.9 %), and return on equity climbed to 34.9 % (2025: 30.8 %). The gearing ratio, which factors in long-term time deposits, moved further into net cash territory at ‑48.6 %.
Cost environment and capacity Commodity indices show divergent trends versus the first half of 2024 (base = 100): PET resin 90, palm oil 100, flour 124 and sugar 117. Tingyi operated 159 instant-noodle lines (+1) and 383 beverage lines (+2) across China. Direct retail outlets expanded to 309,265, while the wholesaler network rationalised to 53,321.
Management did not provide forward-looking earnings guidance in the announcement.