Group 1 - The core point of the article is the retirement of Mr. Chen Yingrang, the current CEO of Master Kong Holdings, who will not renew his service contract with the company [1] - Mr. Chen's service contract as CEO will expire on December 31, 2025 [1] - Mr. Wei Hongcheng has been appointed as the new CEO, effective from January 1, 2026, and he will continue to serve as an executive director [1]

Group 1 - The core point of the article is the retirement announcement of Chen Yingrang, the current CEO of Master Kong Holdings, and the appointment of Wei Hongcheng as the new CEO effective January 1, 2026 [1] Group 2 - Chen Yingrang has decided to retire and will not renew his service contract with the company, which is set to expire on December 31, 2025 [1] - Wei Hongcheng will take over as CEO and will continue to serve as an executive director [1]

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） 董事會成員及首席執行官名單、角色及職能 獨立非執行董事 徐信群 栃尾雅也 文暮良 本公司共設有兩個委員會。下表提供各董事會成員在各委員會中所擔任的職位。 | 董事 | 審核委員會 | 薪酬及提名委員會 | | --- | --- | --- | | 魏宏名 | — | M | | 井田純一郎 | — | — | | 魏宏丞 | — | — | | 筱原幸治 | — | — | | 高橋勇幸 | — | — | | 曾倩 | — | M | | 徐信群 | C | C | | 栃尾雅也 | M | M | | 文暮良 | M | M | 附註： C有關委員會主席 M有關委員會成員 二零二五年十二月十八日 於2026年1月1日生效的康師傅控股有限公司董事會（「董事會」）成員及首席執行官名單如 下。 執行董事 魏宏名（主席） 井田純一郎（副主席） 魏宏丞（首席執行官） 筱原幸治 高橋勇幸 曾倩 ...

更換首席執行官 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） 首席執行官退休 康師傅控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事會（「董事會」） 宣佈，陳應讓先生（「陳先生」）已決定退休，不再與本公司續期服務合約。本公司與 陳先生作為本公司首席執行官之間的服務合約將於2025年12月31日屆滿。 陳先生向本公司確認，其與董事會並無意見分歧，亦無有關其退休的事宜須敦請本 公司股東（「股東」）或香港聯合交易所有限公司（「聯交所」）垂注。 陳先生自2013年2月加入本集團以來，在培養新一代人才、引進外部合作夥伴、食 品安全和技術平台建設等領域取得了顯著成就，為本集團的業務發展做出了巨大貢 獻，助力本集團積極踐行高質量發展。他積極推動可持續發展，在本集團的 ESG體 系構建、綠色運營及社 ...

Core Viewpoint - The "2025 China Beverage Industry Association-Kangshifu Cup" college student beverage innovation competition serves as a platform for deep collaboration between Kangshifu and young people, reflecting the company's commitment to empowering the younger generation and aligning with their growth aspirations [1][3][8]. Group 1: Event Overview - The competition was officially launched on June 23, 2025, at Tianjin University of Science and Technology and concluded with the final round on December 11, 2025, focusing on the theme "Intelligent Innovation for a New Beverage Ecosystem" [5]. - The event targets three major trends in the beverage industry: green supply chain, health upgrades, and digital integration, bringing together multidisciplinary youth from the Beijing-Tianjin-Hebei region [5][6]. - The competition has evolved since its inception in 2013, now featuring a comprehensive innovation model that includes research, design, and marketing, thus enhancing the connection between young innovators and industry practices [8]. Group 2: Brand Engagement with Youth - Kangshifu emphasizes not just understanding but also empowering young people, creating a collaborative environment that allows their innovative ideas to flourish [3][6]. - The brand captures the emotional landscape of the younger generation, aligning its marketing strategies with their lifestyle and aspirations, as seen in campaigns like the "Painful Taste, Irreplaceable" for its iced tea products [9][15]. - The company has successfully integrated its products into popular culture, leveraging collaborations with media and events to resonate with the youth demographic [15][17]. Group 3: Product Innovation and Market Strategy - Kangshifu is advancing its product offerings by focusing on health and sustainability, introducing items like "Jasmine Longjing" and "Fresh Green Tea" that cater to the health-conscious consumer [19][21]. - The brand is also enhancing its premium product line, such as the "Tea Inheritor" series, which combines high-quality ingredients with sustainable practices, appealing to the younger generation's desire for responsible consumption [21][23]. - The company has implemented sustainable practices in its production and packaging processes, such as using lightweight bottles and automated factories, which align with the environmental values of young consumers [23][24]. Group 4: Future Outlook - Kangshifu's ongoing commitment to understanding and meeting the evolving needs of young consumers positions it as a leading brand in the beverage industry, capable of defining future trends [24].

Core Viewpoint - The discrepancy in product naming between domestic and international markets for Master Kong instant noodles has raised concerns about potential misleading descriptions and compliance with local advertising laws [1][2]. Group 1: Product Naming Discrepancies - Master Kong instant noodles sold overseas, such as in the US and New Zealand, are labeled with "flavor" instead of "noodle," which differs from the domestic product names [1]. - Consumers in various countries, including the US, Australia, and Singapore, have reported similar naming conventions for Master Kong products, indicating a broader trend [1]. - The company has acknowledged the issue, stating that domestic products comply with Chinese food safety standards while export products adhere to local regulations [2]. Group 2: Financial Performance - In the first half of the year, Master Kong reported a revenue of approximately 40.09 billion yuan, a year-on-year decline of 2.7% [2]. - The company's net profit attributable to shareholders was about 2.27 billion yuan, reflecting a year-on-year increase of 20.5% [2]. - For the first half of 2025, the revenue from the instant noodle business was approximately 13.47 billion yuan, a decline of 2.5% year-on-year, accounting for 33.6% of total revenue [3]. - The gross profit margin for the instant noodle segment improved by 0.7 percentage points to 27.8%, leading to a year-on-year increase in net profit attributable to shareholders of 11.9% to 951 million yuan [3].

Core Insights - The article discusses the year-end review of the beverage market, focusing on the top 100 new products from December 2024 to November 2025, and compares them with the same period from the previous year to identify trends and shifts in the market [1][4]. Summary by Sections Overview of the Year-End Review - The year-end review will analyze the top 100 new beverage products and their market performance over the specified period, highlighting new trends and shifts in consumer preferences [1]. Data Collection and Methodology - The data for the top 100 products is sourced from the "马上赢" brand CT and various models, covering a wide range of retail channels across major cities in China [3]. - The selection criteria for the top 100 products exclude private label products and multi-pack items, focusing solely on individual SKUs based on sales revenue [1][2]. Market Performance Analysis - The beverage market is categorized into ten subcategories, including packaged water, functional drinks, dairy drinks, ready-to-drink tea, and more [4][5]. - The analysis reveals that dairy drinks are the only category exceeding 20% market share, while ready-to-drink tea, functional drinks, and carbonated beverages also hold significant shares [8]. Year-on-Year Comparison - A comparison between the two periods shows that the market share of dairy drinks has decreased by approximately 2%, with a sales growth decline of over 13% [13]. - Functional drinks and ready-to-drink juices have shown positive growth, while traditional categories like carbonated drinks and Asian traditional beverages have experienced declines [12][13]. New Product Trends - The top 100 new products for the current year show a significant increase in non-refrigerated ready-to-drink juices and sweetened ready-to-drink teas, while categories like sugar-free ready-to-drink tea and sports drinks have seen a reduction in new product entries [19][14]. - Notably, the top brands include "元气森林" and "康师傅," each with multiple products in the top rankings, indicating strong competition and innovation in the beverage sector [19][22]. Pricing and Specifications - The average price per 100ml for new products varies across categories, with non-refrigerated ready-to-drink juices and sweetened ready-to-drink teas generally priced higher [28]. - The distribution of product specifications indicates a growing preference for larger packaging sizes, reflecting changing consumer consumption patterns [25]. Launch Timing Insights - The timing of new product launches has shifted, with a noticeable increase in products launched in February and March compared to the previous year, suggesting a trend towards earlier market entry [31].

Group 1 - The core objective of the "National Education Strong Country Construction Plan Outline (2024-2035)" is to promote deep integration between education and industry, cultivating compound talents with both theoretical knowledge and practical skills [1] - The event at Master Kong's headquarters showcased the company's strong brand foundation, with annual revenue reaching 80.65 billion and a household penetration rate of 82.4% [3] - The workshop emphasized the importance of integrating practical case studies with marketing theories, introducing frameworks like SEE and BOMB to enhance understanding of consumer trends and marketing strategies [5][8] Group 2 - The marketing strategies shared by Master Kong's executives highlighted the evolution from regional to national leadership, providing actionable insights for students [4] - The insights from the consumer trend report focused on the 18-30 age group, revealing their preferences for self-prioritization and minimal effort, which deepened the understanding of target audience positioning [4] - The dual-track teaching model of the Shanghai Jiao Tong University Antai EMBA program aims to broaden students' business perspectives and enhance practical abilities, reflecting the synergy between education and industry [8]

Core Viewpoint - The launch event for Master Kong's "Pure Fresh Chicken Soup" instant noodles showcased the company's innovative "patented freshness-locking" technology, setting a new benchmark in the industry for chicken soup instant noodles [1][4]. Group 1: Industry Insights - Master Kong, in collaboration with Frost & Sullivan, released a white paper titled "Current Status and Outlook of the Chinese Chicken Soup Instant Noodle Industry," which aims to inject strong momentum into industry development [4][18]. - The white paper confirms Master Kong as the "pioneer of patented freshness-locking technology" in the Chinese chicken soup instant noodle market, highlighting its role in driving industry innovation [4][18]. - The event featured discussions on the multi-dimensional value brought by Master Kong's innovative technology, including technical breakthroughs, industry leadership, cultural heritage, and emotional resonance [4][19]. Group 2: Consumer Trends - Consumer demand for instant food has evolved from basic "convenience" to higher expectations for "taste, health, and quality," making chicken soup instant noodles a significant force in industry optimization and consumption upgrade [9][20]. - Traditional chicken soup instant noodles have faced challenges such as inadequate flavor restoration and poor soup-noodle synergy, leading consumers to seek a product that offers a more authentic and nutritious experience [9][10]. Group 3: Technological Innovation - Master Kong has developed the "patented freshness-locking" technology over several years, which significantly preserves the flavor of chicken soup, providing consumers with a taste close to homemade [10][14]. - This technology represents a comprehensive upgrade from the processes of "stewing" to "fragrance" to "packaging," enhancing the overall product experience [14]. Group 4: Cultural Significance - Master Kong emphasizes the importance of preserving traditional Chinese dietary culture while innovating within the modern food industry, presenting "Pure Fresh Chicken Soup" as a solution to rejuvenate this cultural heritage [5][8]. - The brand's commitment to delivering not just a product but a sincere consumer promise reflects its dedication to maintaining the emotional connection associated with chicken soup in Chinese culture [8][21]. Group 5: Brand Engagement - The event featured brand ambassador Zhou Shen, who engaged with the audience, reinforcing the emotional connection between the brand and consumers through shared stories and experiences [21][25]. - Master Kong's initiatives, such as the "1 Square Meter Warm Noodle Shop," aim to provide warmth and comfort to urban dwellers, further solidifying the brand's presence in daily life [21][25].

Core Insights - The fast-moving consumer goods (FMCG) industry, particularly the instant noodle segment, is at a critical transformation point, with growth entering a plateau phase and cultural consumption trends providing new momentum [2][3] - Traditional functional appeals of instant noodles are losing traction among younger consumers, while interest in traditional culture is rising, with 85.2% of consumers showing increased interest in traditional culture [2] - The integration of regional cultural elements into products, such as the surge in sales of culturally infused flavors like snail noodles, indicates a shift towards cultural resonance in consumer preferences [2] Group 1: Marketing Revolution - The ultimate battleground for marketing is in cultural recognition rather than mere product placement, necessitating a shift from one-way information dissemination to two-way co-creation of meaning [4] - Brands must transition from being "advertisers" to "content co-creators," from providing "product functionality" to delivering "cultural recognition," and from "one-time transactions" to building "emotional assets" [4][6] - The collaboration between brands and cultural narratives, such as the partnership between Kang Shifu and the popular IP "Tang Chao Gui Shi Lu," exemplifies how cultural foundations can enhance brand positioning [4][6] Group 2: Cultural Integration - Kang Shifu's collaboration with "Tang Chao Gui Shi Lu" innovatively integrates products into the narrative, making them key elements of the story rather than mere background props [7][10] - The use of AI technology to create customized content for characters enhances viewer engagement, transforming product exposure into a meaningful brand experience [10][12] - Over 60% of consumers are willing to pay a premium for products that offer cultural resonance, indicating a significant shift in consumer expectations [12][14] Group 3: Experience Creation - Kang Shifu's marketing strategy moves beyond passive demand fulfillment to actively creating new consumer experiences through cultural resonance and engagement [27][30] - The brand's initiatives, such as the "Chasing Drama Calendar" and the immersive "Kang Shifu Noodle Shop" experience, exemplify how to create a tangible connection between cultural narratives and consumer behavior [29][30] - By redefining itself as an essential component of the cultural experience, Kang Shifu establishes a competitive edge in the market [33] Group 4: Future Implications - The case of Kang Shifu and "Tang Chao Gui Shi Lu" illustrates that the most effective brand communication occurs when consumers are fully engaged in meaningful cultural experiences [35] - The integration of traditional culture into modern marketing strategies not only meets the demand for cultural recognition among younger consumers but also revitalizes traditional culinary heritage [35][36] - The future of competition will hinge on cultural interpretation, content co-creation, and the ability to define consumer experiences, marking a shift in the rules of engagement in the market [36]