Tiger Brokers

BUZZ-China's Tingyi hits 2-year peak on profit beat, special dividend

Reuters
Mar 25, 2025
BUZZ-China's Tingyi hits 2-year peak on profit beat, special dividend

** Shares of instant noodle and beverages producer Tingyi (Cayman Islands) Holding Corp 0322.HK rise 5.1% to HK$13.5, their highest since March 2023

** Stock on track for the biggest one-day pct rise since January 9; top pct gainer on Hang Seng Index .HSI, which is down 2.2%

** Tingyi said its 2024 profit attributable rose 19.8% y/y to 3.73 bln yuan ($513.7 mln) and it proposed to pay shareholders a final dividend of 0.3314 yuan and a special dividend of 0.3314 yuan per share

** Jefferies, with "buy" rating, says 2H24 net profit was 14% better than market estimates, thanks to lower-than-expected selling expenses

** Hang Seng Consumption Index .HSCGSI falls 1.7%, Index tracking consumer staples .HSCICS slips 0.9%

** Stock up 26.9% YTD

($1 = 7.2609 Chinese yuan renminbi)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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