About NISSIN FOODS Company

We are a leading food company based in Hong Kong and mainland China, primarily focused on the premium instant noodle market. Our diverse portfolio of brands enjoys high recognition and widespread customer appeal. According to data from Frost & Sullivan, premium instant noodles in the Hong Kong and mainland China markets are defined as high-quality instant noodles typically priced at over HK$6.00 per cup/bowl/bag or RMB 5.00 per cup/bowl/bag. Over the past five years, according to Frost & Sullivan, 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 sales value and 62.6% by retail volume in 2016. Although we ranked fifth and sixth among China’s instant noodle companies in 2016, with market shares of about 2.8% and 1.4% respectively by retail sales value and retail volume, we were the second-largest player in China’s premium instant noodle market in 2016, capturing roughly 19.8% of the overall Chinese premium instant noodle market by retail sales value. In addition, we are also engaged in the production and sale of premium frozen foods, including frozen dim sum and frozen noodles, as well as other food and beverage products such as steamed and cooked pouch products, snacks, mineral water, and sauces. According to Frost & Sullivan, we are the second-largest frozen dim sum company in Hong Kong, accounting for approximately 25.2% and 23.8% of the total Hong Kong frozen dim sum market by retail sales value and retail volume, respectively, in 2016. We primarily sell our products through wholesale channels to third-party distributors. These distributors then resell our products to their secondary distributors. Additionally, we directly sell certain products to retailers, mainly supermarkets, hypermarkets, and convenience stores, as well as other direct customers—including restaurants, hotels, airlines, and other businesses—thereby minimizing sales and distribution costs. Leveraging our well-established sales and distribution network across Hong Kong and mainland China, we primarily target consumers with higher purchasing power who have a strong demand for premium instant noodles and high-quality frozen foods and other food products. Furthermore, we also sell a small portion of our products—mainly instant noodles—to Macao, Taiwan, and several overseas countries such as the United States, Canada, the United Kingdom, and Australia, catering to Chinese-speaking communities. As of December 31, 2016, we had maintained business relationships lasting an average of more than six years with our top five customers. Nissin Foods of Japan is a global leader in the instant noodle industry, dedicated to transforming food cultures around the world. The company enjoys a strong first-mover advantage in terms of its proprietary food production know-how and technology. Nevertheless, we continue to enhance our R&D capabilities relentlessly, striving for continuous improvement and optimization of our production technologies and processes, ensuring that our products meet the tastes and preferences of local consumer groups. As of December 31, 2016, we were able to offer over 520 stock-keeping units of various product brands and more than 230 flavors of instant noodles in Hong Kong and mainland China. Currently, we produce most of our food products and packaging materials through nine manufacturing facilities strategically located in Hong Kong and mainland China. We also enter into multiple outsourcing and procurement arrangements with third-party contract manufacturers and/or suppliers to manufacture and/or supply certain instant noodles, frozen foods, and other food and beverage products under our own brand and those of other companies.