About NISSIN FOODS Company

We are a leading food company in Hong Kong and Mainland China, primarily focused on the premium instant noodle market. Our portfolio of well-known brands enjoys high brand recognition and widespread consumer appeal. According to Frost & Sullivan, premium instant noodles in the Hong Kong and Mainland Chinese markets are defined as high-quality products typically priced at more than HK$6.00 or RMB 5.00 per cup/bowl/bag. Over the past five years, we have been the largest instant noodle company in Hong Kong, accounting for approximately 65.3% of the total Hong Kong instant noodle market by retail value and 62.6% by retail volume in 2016. Although we rank as the fifth- and sixth-largest instant noodle companies in China—representing about 2.8% of the national market by retail value and 1.4% by retail volume in 2016—we were the second-largest player in China's premium instant noodle segment in 2016, capturing roughly 19.8% of that market by retail value. In addition, we manufacture and sell premium frozen foods, including frozen dim sum and frozen noodles, as well as other food and beverage products such as retort-pouched items, snacks, mineral water, and sauces. According to Frost & Sullivan, we are also the second-largest frozen dim sum company in Hong Kong, accounting for approximately 25.2% of the Hong Kong frozen dim sum market by retail value and 23.8% by retail volume in 2016. Our primary sales channel is wholesale distribution to third-party distributors, who then resell our products to their own tier-two distributors. We also directly sell certain products to retailers—including supermarkets, hypermarkets, and convenience stores—as well as to other direct customers such as restaurants, hotels, airlines, and corporate clients, thereby minimizing sales and distribution costs. Leveraging a well-established sales and distribution network across Hong Kong and Mainland China, we target consumers with higher purchasing power who have a strong demand for premium instant noodles, high-quality frozen foods, and other specialty food products. In addition, we export a small portion of our products—primarily instant noodles—to Macau, Taiwan, and several overseas markets, including the United States, Canada, the United Kingdom, and Australia, with Chinese communities as our primary customer base. As of December 31, 2016, we had maintained business relationships lasting an average of over six years with our top five customers. Nissin Japan is a global leader in the instant noodle industry, committed to transforming food cultures around the world and enjoying a strong first-mover advantage in proprietary production know-how and technology. Nevertheless, we continuously enhance our R&D capabilities to pursue excellence, refine our production technologies and processes, and develop innovative solutions that better align with local consumer tastes and preferences. As of December 31, 2016, we offered more than 520 SKUs across various product brands in Hong Kong and Mainland China, encompassing over 230 flavors of instant noodles. Currently, we produce most of our food products and packaging materials at nine manufacturing facilities strategically located in Hong Kong and Mainland China. We also maintain multiple outsourcing and procurement arrangements with third-party contract manufacturers and/or suppliers to produce and/or supply certain instant noodles, frozen foods, and other food and beverage products under our own and other brands.