TINGYI(HK:00322) 2 1 Shi Ji Jing Ji Bao Dao·2025-12-18 12:13Group 1 - The current CEO of Master Kong, Chen Yingrang, will retire on December 31, 2025, and Wei Hongcheng has been appointed as the new CEO effective January 1, 2026 [1] - Wei Hongcheng, aged 43, is the brother of the chairman Wei Hongming and the grandson of the founder Wei Yingzhou, holding degrees from Imperial College London and Harvard Business School [3] - As of the announcement date, Wei Hongcheng holds 5 million shares and 1.385 million stock options in the company, with a total compensation of approximately 9.37 million yuan for 2024 [4] Group 2 - For the first half of 2025, Master Kong reported revenues of 40.092 billion yuan, a year-on-year decrease of 2.7%, while the gross profit margin increased by 1.9 percentage points to 34.5% [4] - The company's net profit attributable to shareholders was 2.271 billion yuan, reflecting a year-on-year increase of 20.5% [4] - The core business of Master Kong, particularly the instant noodle segment, saw a revenue decline of 2.5% to 13.465 billion yuan, and the tea beverage segment dropped by 6.3% to 10.67 billion yuan, impacting overall beverage revenue which fell by 2.6% to 26.359 billion yuan [4] Group 3 - The decline in tea beverage revenue may indicate changing market demand for sugary tea products, and the number of marketing distributors has decreased from 67,215 to 63,806 [5] - The number of direct retail stores also declined from 220,623 to 219,124 [5] - Price increases in tea beverages, particularly for the 1L iced tea, are likely to have affected sales [6]