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For other uses, see Master Kong (disambiguation).

Master Kong (traditional Chinese: 康師傅控股有限公司; simplified Chinese: 康师傅控股有限公司; pinyin: Kāng-shīfu Kònggǔ Yǒuxiàngōngsī) is an instant noodle producer in China.

Established in 1991, Master Kong is a branded company headquartered in Taipei, Taiwan and Tianjin, China. It produces instant noodles,[2] beverages, and cakes.

Master Kong reported a revenue and net profit of 62 and 3.3 billion yuan, respectively,[3] accounting for 43.3% of instant noodle market.[3]

Since November 2011, Master Kong produces producing non-alcoholic beverages for PepsiCo.[4] The company also produce bottled and canned coffee drinks for Starbucks since March 2015.[5]

In June 2018, Master Kong was shortlisted in the national brand project of Xinhua News Agency.[6]

History

The company was founded in Tianjin by the Wei brothers from Changhua County, Taiwan in 1991.[7] It was listed on the Hong Kong Stock Exchange in 1996.[8]

It is owned 33.48% by Ting Hsin International Group[9] and 33.48% by Sanyo Foods.

In March 2011, Unilever was fined 2 million Yuan for the distribution of information about future price hikes and Tingyi was given a warning about publicly discussing their price increases.[10]

In June 2011, Master Kong[11] was recognized by market research firm, TNS, to be the second most valued brand in China.[12]

As of 2013, its main competitors are Want Want China and Uni-President.[2]

In 2014, Master Kong was facing a food safety problem in Taiwan.[13] In 2015, Master Kong stopped distributing its instant noodles in Taiwan. The group’s board of directors has approved a plan to completely withdraw from the Taiwanese market.[14]

See also

References

  1. ^ 2018 Cross-Strait New Economic Forum held in Beijing. Xinhua News Agency. 2018-09-20.
  2. ^ a b “China’s Tingyi Q1 profit falls 47 pct as sales slow”. Reuters. 20 May 2013. Archived from the original on 2 September 2014. Retrieved 2013-05-30.
  3. ^ a b ““免疫力”成康师傅年报亮点：2019年多赚35%，手握174亿现金 -新华网”. www.xinhuanet.com. Archived from the original on August 7, 2020. Retrieved 2020-03-30.
  4. ^ “Tingyi Holding and PepsiCo Finalize Strategic Alliance in China” (Press release).
  5. ^ “Starbucks Signs Agreement with Tingyi Holding Corp. to Expand in China’s $6 Billion Ready-to-Drink Coffee & Energy Category” (Press release). 18 March 2015.
  6. ^ “康师傅入选新华社民族品牌工程 以航天品质践行民族品牌企业使命”. Archived from the original on June 27, 2018.
  7. ^ “Tingyi to take on local instant noodle makers – Taipei Times”. www.taipeitimes.com. 26 November 2002.
  8. ^ “irasia.com – Tingyi (Cayman Islands) Holding Corp”. www.irasia.com.
  9. ^ “Tingyi Targets Up to 16% Growth on China Stimulus (Update1)”. Bloomberg. 23 October 2009.
  10. ^ Sonne, Paul (2011-05-07). “China Fines Unilever for Price Comments”. Wall Street Journal. ISSN 0099-9660. Retrieved 2019-10-28.
  11. ^ Wang, Joy (1 April 2011). “Unilever, Ting Hsin delay hike in China”. Shanghi Daily and RetalInAsia.com. Retrieved 2013-05-30.
  12. ^ Wexler, Alexandra (July 4, 2011). “Noodles and Electronics: Asia’s Most Valued”. Wall Street Journal.
  13. ^ 中時電子報. “康師傅精燉蔥燒排骨湯麵 回收 – 財經”. 中時電子報 (in Chinese). Retrieved 2019-09-16.
  14. ^ “Master Kong withdrawing from Taiwan – Taipei Times”. www.taipeitimes.com. 4 January 2017. Retrieved 2019-09-16.