Nissin Foods Announces Price Revision in Mainland China, Effective 1 March 2022

Jan 05, 2022 17:10 JST

Source: Nissin Foods Co Ltd

HONG KONG, Jan 05, 2022 - (ACN Newswire) - Nissin Foods Company Limited ("Nissin Foods", and together with its subsidiaries, the "Group"; Stock code: 1475) will adjust the ex-factory price of its key instant noodle products in Mainland China, effective 1 March 2022.

The most recent price adjustments by Nissin Foods on its instant noodles in Mainland China was over a decade ago in 2011. As a leading food manufacturer, the Group has been devoted to enhancing the taste and quality of its products while also ensuring a stable supply of quality instant noodles at reasonable prices for the past 11 years.

In face of the increasing cost pressures from the unstable supply and soaring price of raw materials, particularly in the past year, the Group has been working to offset the rising costs by improving its production efficiency and reducing expenses. It has come to the point where the Group found it necessary to adjust its product prices in order to alleviate the cost pressure in a more effective manner.

Effective 1 March 2022, Nissin Foods will increase the ex-factory price of its key instant noodle products in Mainland China by a mid-single-digit percentage point on average. The price adjustment will be applied to Cup Noodles, Demae Iccho (bag, cup and bowl types), Nissin Pasta, Raoh and so on.

Nissin Foods appreciates the understanding of all business partners and consumers. The Group remains committed to providing safe, tasty and quality products to delight consumers. In addition, Nissin Foods will continue to make investments in order to improve its operational efficiency and enhance its product portfolio, ensuring sustainable growth and creating higher value for shareholders.

About Nissin Foods Company Limited
Nissin Foods Company Limited (The "Group"; Stock code: 1475) is a renowned food company in Hong Kong and Mainland China with a diversified portfolio of well-known and highly popular brands and the largest instant noodle company in Hong Kong. The Group officially established its presence in Hong Kong in 1984. The Group primarily manufactures and sells instant noodles, frozen foods and other food products under its two core corporate brands, namely "NISSIN" and "DOLL" together with a diversified portfolio of iconic household premium food brands. The Group's five flagship product brands, namely "Cup Noodles", "Demae Iccho", "Doll Instant Noodle", "Doll Dim Sum" and "Fuku" are also among the most popular choices in their respective food product categories in Hong Kong. In the Mainland China market, the Group has introduced technology innovation through the "ECO Cup" concept and primarily focuses its sales efforts in first-and second-tier cities.

Nissin Foods is a constituent of eight Hang Seng Indexes, namely: Hang Seng Composite Index, Hang Seng Consumer Goods & Services Index, Hang Seng Stock Connect Hong Kong Index, Hang Seng Stock Connect Hong Kong MidCap & SmallCap Index, Hang Seng Stock Connect Hong Kong SmallCap Index, Hang Seng SCHK Mainland China Companies Index, Hang Seng SCHK ex-AH Companies Index, and Hang Seng Small Cap (Investable) Index. For more information, please visit www.nissingroup.com.hk.

For media enquiries:
Nissin Foods Company Limited
Public Relations Department
Blanche Wong / Riko Lee
Email: pr@nissinfoods.com.hk

For investor enquiries:
Nissin Foods Company Limited
Investor Relations Department
Shingo Yamazaki
Email: ir@nissinfoods.com.hk

Strategic Financial Relations Limited
Vicky Lee Tel: (852) 2864 4834 Email: vicky.lee@sprg.com.hk
Sharon Lau Tel: (852) 2864 4852 Email: sharon.lau@sprg.com.hk
Aggie Fang Tel: (852) 2114 4987 Email: aggie.fang@sprg.com.hk

Sectors: Food & Beverage