HONG KONG
,
March 22, 2022
(press release)
–
Nissin Foods Company Limited ("Nissin Foods", and together with its subsidiaries, the "Group"; Stock code: 1475) will increase the ex-factory price of certain bag-type and container-type instant noodle products in Hong Kong by mid-to-highsingle-digit percentages, effective 1 April 2022. The price adjustment will be applied to the "Demae Iccho" series, "Cup Noodles" series and "U.F.O." products. The last price adjustment on "Damae Iccho" bag noodles was 14 years ago in 2008, and three years ago in 2019 on container-type noodles, including "Cup Noodles". 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. In the face of increasing cost pressures arising from soaring raw materials and logistics costs, the Group has implemented measures to optimize our operational and production efficiency so as to offset the rising costs. It has reached the point where the Group found it necessary to adjust its product prices in order to more effectively alleviate the cost pressure. 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 to improve its operational efficiency and enhance its product portfolio, ensuring sustainable growth and higher value creation for shareholders. - End - 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 (日清)" and "DOLL (公仔)" together with a diversified portfolio of iconic household premium food brands. The Group's five flagship product brands, namely "Cup Noodles (合味道)", "Demae Iccho (出前一丁)", "Doll Instant Noodle (公仔麵)", "Doll Dim Sum (公仔點心)" and "Fuku (福)" 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. Page 1 of 2 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.
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