EF001 EF001 免責聲明 | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 康師傅控股有限公司 | | 股份代號 | 00322 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 截至二零二五年十二月三十一日止年度業績公佈 | | | 公告日期 | 2026年3月23日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 末期 | | 股息性質 | 普通股息 | | 財政年末 | 2025年12月31日 | | 宣派股息的報告期末 | 2025年12月31日 | | 宣派股息 | 每 股 0.3992 RMB | | 股東批准日期 | 2026年6月8日 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發貨幣 | 有待公佈 | | 匯率 | 有待公佈 | | 除淨日 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 TINGYI (CAYMAN ISLANDS) HOLDING CORP. 康師傅控股有限公司 * （於開曼群島註冊成立之有限公司） （股份編號：0322） 2025 年年度業績演示材料 康師傅控股有限公司及其附屬公司截至 2025 年 12 月 31 日止之年度業績演示材料 可參閲以下附件。 承董事會命 康師傅控股有限公司 公司秘書 葉沛森 香港，2026 年 3 月 23 日 於本公告日期，本公司之執行董事為魏宏名先生、井田純一郎先生、魏宏丞先生、 筱原幸治先生、高橋勇幸先生及曾倩女士；本公司之獨立非執行董事為徐信群先 生、栃尾雅也先生及文暮良先生。 網址: http://www.masterkong.com.cn http://www.irasia.com/listco/hk/tingyi *僅供識別 (在開曼群島註冊成立之有限公司) (股份代號 : 0322) 康師傅控股有限公司 2025年全年 ...

Financial Performance - Total revenue for the year ended December 31, 2025, was RMB 79,068,022 thousand, a decrease of 2.0% compared to RMB 80,650,914 thousand in 2024[2] - Net profit for the year was RMB 5,175,852 thousand, representing a 19.8% increase from RMB 4,322,135 thousand in 2024[2] - Adjusted net profit attributable to shareholders was RMB 4,245,156 thousand, up 14.1% from RMB 3,720,427 thousand in 2024[2] - EBITDA for the year was RMB 10,606,522 thousand, reflecting a growth of 10.2% compared to RMB 9,627,802 thousand in 2024[2] - Total revenue for 2025 reached RMB 78,987,713 thousand, a slight decrease from RMB 80,582,017 thousand in 2024, representing a decline of approximately 1.97%[20] - The company's net profit for 2025 was RMB 5,175,852 thousand, an increase from RMB 4,322,135 thousand in 2024, marking a growth of approximately 19.7%[21] - The company reported a pre-tax profit of RMB 6,965,916 thousand for 2025, compared to RMB 6,059,654 thousand in 2024, an increase of about 14.9%[21] Revenue Breakdown - Revenue from instant noodles was RMB 28,278,066 thousand in 2025, compared to RMB 28,306,049 thousand in 2024, indicating a marginal decrease of 0.1%[20] - Beverage segment revenue was RMB 50,098,397 thousand in 2025, down from RMB 51,615,930 thousand in 2024, reflecting a decrease of about 2.93%[20] - The instant noodle business generated revenue of RMB 28,421.36 million in 2025, accounting for 35.9% of total revenue, with a gross margin increase to 29.7%[38] - The beverage segment's total revenue for 2025 is projected to be RMB 50.123 billion, accounting for 63.4% of the group's total revenue[42] Profitability Metrics - Gross profit margin increased to 34.8%, up by 1.7 percentage points from 33.1% in 2024[2] - The gross profit margin improved by 1.7 percentage points to 34.8% in 2025, driven by favorable raw material prices and product mix optimization[37] - The gross profit margin for the beverage segment increased by 2.2 percentage points year-on-year to 37.5% due to favorable raw material prices and product mix optimization[42] Cash and Liquidity - Cash and cash equivalents, including long-term deposits, amounted to RMB 19,486,056 thousand, an increase of RMB 3,483,388 thousand from the previous year[2] - The net debt to equity ratio stood at -29.8%, indicating a strong liquidity position[2] - The group's cash inflow from operating activities for the year is RMB 8.202 billion, while cash outflow from investing activities is RMB 5.309 billion[48] - As of December 31, 2025, the group's cash and bank deposits increased by RMB 3.483 billion to RMB 19.486 billion compared to the previous year[49] Assets and Liabilities - Total assets minus current liabilities for 2025 amounted to RMB 25,582,191 thousand, up from RMB 20,725,630 thousand in 2024, showing an increase of about 23.5%[11] - Total assets for 2025 reached RMB 54,939,771 thousand, an increase from RMB 53,148,855 thousand in 2024, reflecting a growth of approximately 3.4%[22][23] - Total liabilities for 2025 were RMB 36,440,563 thousand, compared to RMB 35,533,504 thousand in 2024, indicating a rise of about 2.55%[11] - The company's total equity increased to RMB 18,499,208 thousand in 2025 from RMB 17,615,351 thousand in 2024, reflecting a growth of approximately 5.01%[11] Capital Expenditures and Investments - Capital expenditures for 2025 were RMB 3,088,096 thousand, a decrease from RMB 3,626,035 thousand in 2024, indicating a reduction of approximately 14.8%[23][24] - Capital expenditure commitments for property, machinery, and equipment amounted to RMB 743.629 million, down from RMB 1,044.846 million in 2024[34] Corporate Governance and Leadership - A significant organizational change occurred with a smooth transition of the CEO position, ensuring continuity in leadership[5] - The company has adhered to the corporate governance code as per the Hong Kong Stock Exchange rules, with a commitment to enhancing accountability and transparency to increase long-term shareholder returns[61] - The audit committee, consisting of three independent non-executive directors, recently reviewed the group's performance for the fiscal year 2025[66] Employee and Talent Management - The group has a total of 60,720 employees as of December 31, 2025[51] - The "活水计划" has supported multiple employees in internal transitions, enhancing talent retention and satisfaction[51] - The integration of AI in the recruitment system has improved talent selection and process efficiency[53] Sustainability and Innovation - The group has implemented energy-saving and emission-reduction measures in core factories, expanding photovoltaic deployment and green electricity procurement[55] - The digital transformation initiatives have led to real-time monitoring and management of equipment status and energy data[57] - The group has received multiple awards for its sustainable development practices, including recognition from the United Nations Global Compact and Forbes China ESG Top 50[59] Future Outlook - The company anticipates a moderately loose policy environment in 2026, focusing on high-quality development in the food and beverage industry, with products that combine functionality, emotional value, and green concepts leading industry growth[60] - The company aims to strengthen its core business and advance to a new stage of higher quality development, focusing on product innovation to meet national health needs[60] Dividends and Shareholder Information - The company plans to distribute a final dividend of RMB 0.3992 per share for 2025, an increase from RMB 0.3314 per share in 2024, totaling RMB 4,500.698 million for both ordinary and special dividends[31] - The proposed dividends are subject to approval at the annual general meeting scheduled for June 8, 2026[76] - The company will suspend the registration of share transfers from June 3 to June 8, 2026, to determine the list of shareholders entitled to attend the annual general meeting[77]

Investment Rating - The report rates the food and beverage industry as "Overweight" [1] Core Insights - The report highlights that the CPI (Consumer Price Index) has shown signs of recovery, with a year-on-year increase of 1.3% in February 2026, marking the highest growth since January 2023. This recovery is expected to benefit companies with strong pricing power in the food and beverage sector [2][15] - The report emphasizes the importance of companies that can effectively pass on costs to consumers, particularly in the condiment and restaurant supply chain sectors, as the industry transitions from a cost dividend phase to an initial stage of price increases [3][40] Summary by Sections CPI and Economic Recovery - The CPI has rebounded, indicating a shift towards moderate inflation, with the government targeting a CPI growth of around 2% for 2026. This is supported by fiscal policies aimed at stabilizing economic growth and reasonable price increases [6][15] - The service sector has become a key driver of growth, with significant increases in service prices contributing to the overall CPI rise [20][23] CPI-PPI Dynamics - The report discusses the narrowing of the CPI-PPI (Producer Price Index) gap, which is currently at 2.2 percentage points. This gap indicates that consumer prices are rising faster than production costs, benefiting companies with strong pricing power [28][30] - The report notes that the PPI has shown signs of improvement, with a year-on-year decline of 0.9% in February 2026, suggesting a stabilization in raw material prices [27][29] Cost Transmission and Pricing Power - The report identifies key raw materials that constitute 65%-85% of the operating costs for leading companies in the food and beverage sector, including soybeans, sugar, and dairy products. The ability to manage these costs effectively will be crucial for maintaining profitability [41][44] - Companies in the condiment and restaurant supply chain are highlighted as having strong pricing power, with expectations for a new round of price increases due to rising costs and improved demand conditions [3][40] Investment Recommendations - The report recommends focusing on leading companies with strong channel and product capabilities, clear price increase expectations, and high dividend attributes, such as Haidilao, Anjoy Foods, and Mengniu Dairy [3][40] - It also suggests investing in leading beer companies and high-growth regional leaders, as well as companies in the dairy and snack sectors that possess category and channel advantages [3][40]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內 容而引致之任何損失承擔任何責任。 TINGYI (CAYMAN ISLANDS) HOLDING CORP. 康師傅控股有限公司* 康師傅控股有限公司「（本公司」）之董事會「（董事會」）宣佈，本公司將於2026年3月 23日（星期一）舉行董事會會議，藉以（其中包括）批准刊發本公司及其附屬公司截至 2025年12月31日止之全年度業績公告，以及考慮派發末期股息（如適用）。 承董事會命 康師傅控股有限公司 公司秘書 葉沛森 香港，2026年3月9日 於本公告日期，本公司之執行董事為魏宏名先生、井田純一郎先生、魏宏丞先生、筱原幸治先生、 高橋勇幸先生及曾倩女士；本公司之獨立非執行董事為徐信群先生、栃尾雅也先生及文暮良先生。 * 僅供識別 （於開曼群島註冊成立之有限公司） （股份編號：0322） 董事會召開日期 網址： http://www.masterkong.com.cn http://www.irasia.com/listco/hk/ti ...

Investment Rating - The report does not explicitly provide an investment rating for the wealth management industry or specific funds [1][6][11]. Core Insights - The report highlights the performance of major stock indices, with the S&P 500 index at 6878.88, showing a weekly decline of 0.44% and a year-to-date increase of 0.49% [13]. - The report notes that the Invesco Global High-Quality Corporate Bond Fund has an average credit rating of A- and a duration of 6.0 years, indicating a moderate risk profile [19]. - The escalation of the US-Iran conflict has led to increased risk aversion in global markets, with funds flowing into traditional safe-haven assets like gold and US Treasuries [19]. - The report emphasizes that high-rated US Treasuries are seen as a core choice for risk-averse investors due to their low-risk attributes and liquidity [19]. - The fund's performance over the past year was 6.18%, slightly below the Bloomberg US Corporate Bond Index's 6.91% return, attributed to conservative credit selection [22]. Summary by Sections Market Performance - Major stock indices have shown varied performance, with the Nasdaq index down 0.95% year-to-date and the Dow Jones index up 1.90% [13]. - The report provides a detailed table of bond indices, with the Bloomberg US Treasury Index showing a year-to-date increase of 1.72% [26]. Fund Highlights - The Invesco Global High-Quality Corporate Bond Fund has 747 investments, ensuring diversification and reducing credit risk [19][24]. - The fund's geographic distribution includes the US (27.7%), UK (14%), and Italy (5.8%), with no single country exceeding 30% to mitigate economic and policy risks [24]. Recent Market Developments - The report discusses the recent issuance in the primary market, with New City Development issuing a 3-year bond of $355 million at a yield of 13.25% [36]. - It also mentions the positive outlook for Hong Kong property prices, with Morgan Stanley raising its forecast from 5%-7% to 10%-15% for the year [41].

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年2月28日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 康師傅控股有限公司 呈交日期: 2026年3月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00322 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 7,000,000,000 | USD | | 0.005 USD | | 35,000,000 | | 增加 / 減少 (-) | | | 0 | | | USD | | 0 | | 本月底結存 | | | 7,000,000,000 | USD | | 0.005 USD | | 35,000,000 | 本月底法定/註冊股本總額： USD 35,00 ...

Investment Rating - The investment rating for the essential consumer sector in China is "Outperform" for multiple companies including Kweichow Moutai, Wuliangye, and Yili Industrial Group [1]. Core Insights - The report highlights that among the eight key tracked essential consumer industries in February 2026, five maintained positive growth, two recorded negative growth, and one remained flat. The growing industries included frozen food, condiments, beer, catering, and soft drinks, while the declining industries included sub-high-end and above liquor and dairy products. The improvement in data is attributed to the increased number of Spring Festival holidays and heightened consumer enthusiasm for travel, which boosted demand for catering and supply chain products [3][35]. Demand Summary - In February 2026, five out of eight essential consumer industries showed positive growth, with frozen food, condiments, beer, catering, and soft drinks experiencing growth. In contrast, sub-high-end and above liquor and dairy products faced declines. The overall growth rate improved for seven industries compared to the previous month, primarily due to the Spring Festival holidays and increased consumer travel [3][35]. Price Summary - The wholesale price of high-end liquor rebounded month-on-month, while sub-high-end and below liquor prices mostly fell. Discounts on liquid milk and condiments decreased, with average discount rates for liquid milk increasing by 4.7 percentage points and condiments by 1.2 percentage points compared to January. Convenience food discounts increased, while discounts for beer, soft drinks, and infant formula remained stable [4][36]. Cost Summary - In February, the spot cost indices for six categories of consumer goods generally fell, while futures cost indices mostly rose. The spot cost indices for soft drinks, instant noodles, frozen food, beer, condiments, and dairy products changed by -1.28%, -1.03%, -0.52%, -0.52%, +0.06%, and +0.27% respectively. Year-on-year changes for can, plastic, paper, and glass prices were +12.1%, -0.3%, -7.4%, and -17.7% respectively [4][37]. Capital Flow Summary - As of the end of February, the net inflow of Southbound Stock Connect funds was 80.32 billion yuan, an increase from 61.73 billion yuan in the previous month. The essential consumer sector's market value accounted for 5.86%, up by 0.04 percentage points from the previous month. The dairy industry represented 17.2% of the Southbound Stock Connect market value, while the food additive industry accounted for 14.4% [5][38]. Valuation Summary - At the end of February, the PE historical quantile for A-share food and beverage was 17% (20.5x), remaining stable from the previous month. The sub-sectors with lower quantiles included beer (1%, 20.6x) and liquor (12%, 18.3x). The median valuation for A-share food and beverage leaders was 22x, unchanged from the previous month [5][39]. Suggestions - The report suggests several favorable aspects for allocating essential consumption, including increased international capital inflow into China, low institutional allocation levels, and the gradual recovery of industries like dairy and liquor. Recommendations for March include stocks that align with fundamental and dividend yield improvement logic, such as Mengniu Dairy, Yili Industrial Group, and Tsingtao Brewery, as well as those favored by long-term institutional investors like Luzhou Laojiao and Kweichow Moutai [6][40].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內 容而引致之任何損失承擔任何責任。 TINGYI (CAYMAN ISLANDS) HOLDINGCORP. 康 師 傅 控 股 有 限 公 司 * 葉沛森 香港，2026年3月2日 於本公告日期，本公司之執行董事為魏宏名先生、井田純一郎先生、魏宏丞先生、筱 原幸治先生、高橋勇幸先生及曾倩女士；本公司之獨立非執行董事為徐信群先生、栃尾雅也 先生及文暮良先生。 （在開曼群島註冊成立之有限公司） （股份編號：0322） 海外監管公告 本公告是由康師傅控股有限公司 (「本公司」) 根據香港聯交所有限公司證券上市規則第 13.10B條而作出。 以下附件是本公司依臺灣證券交易所股份有限公司規定於2026年3月2日在臺灣證券交易 所股份有限公司刊發的公告。 承董事會命 康師傅控股有限公司 公司秘書 1. 金融監督管理委員會證期局核准發行日期及文號： 中華民國 98 年 11 月 30 日金管證發字第 0980063536 號函 2. 臺灣存託憑證原核 ...

Core Insights - The emergence of a new form of energy drink that satisfies both the need for energy and health-conscious preferences is highlighted, with the launch of Kang Shifu's Ice Red Tea Energy as a significant development in the market [1][4] Market Demand - The Chinese energy drink market is expanding, with well-known brands like Red Bull and Dongpeng leading the way. However, there is a shift towards lower sugar and natural ingredients due to rising health awareness, with 67.87% of consumers expressing a desire to reduce sugar intake and 43% preferring energy drinks made from natural ingredients [5] - Traditional energy drinks, characterized by high sugar and caffeine, are increasingly seen as misaligned with current consumer preferences for healthier options, creating a gap in the market [5] Product Innovation - Kang Shifu's Ice Red Tea Energy aims to fill this gap by combining the popular taste of iced red tea with the functional benefits of energy drinks, creating a new category that appeals to a broad consumer base [5] - The product features a "5X5 Super Energy Formula" that uses five times the natural caffeine from red tea and incorporates five natural plant ingredients, providing a gentler and more sustained energy boost without the traditional high-stimulant components [7][9] - The drink also addresses taste concerns by maintaining the refreshing flavor of iced red tea while ensuring a low-sugar formula free from artificial colors and preservatives, thus enhancing consumer trust [9] Market Expansion - The successful integration of functionality, taste, and health opens up new consumption scenarios beyond traditional high-pressure situations, targeting leisure and entertainment contexts as well [10] - Kang Shifu's Ice Red Tea Energy is positioned to appeal to younger consumers in various daily activities, such as music festivals, camping, and late-night entertainment, thereby expanding the market's growth potential [10] Conclusion - The launch of Kang Shifu's Ice Red Tea Energy represents a significant shift in the energy drink market towards healthier, more enjoyable options that integrate seamlessly into daily life, indicating a new era for energy beverages [12]