Elevator Pitch
I assign a Neutral rating to Hong Kong-listed Chinese food & beverage company Tingyi (Cayman Islands) Holding Corp. (OTCPK:TCYMY) (OTCPK:TCYMF) (OTC:TCYQY) [322:HK].
Tingyi Holding is the market leader in instant noodles, RTD (ready-to-drink) tea and cola carbonates in China. But Tingyi Holding faces competitive threats from online food delivery companies in the instant noodles business and street stalls/kiosks in the beverages segment, and the success of its product premiumization strategy is the key to mitigating the negative impact of such competitive threats.
Tingyi Holding's forward FY2020 dividend