Nissin Foods (1475 HK) Epidemic drives product demand, domestic high-end market grows well June 7, 2021 203

PSR Recommendation: BUY Status: Maintained
Target Price: HKDHKD7.54

Investment Summary
On May 11, Nissin Foods announced its financial results (unaudited) for the three months
ended March 31, 2021. In 1Q21, company revenue was approximately HK$964 million, an
increase of 9.0% Yoy. The GPM was 32.1%, which was flat as the same period last year. The
net profit attributable to the parent recorded HK$93 million, a Yoy decrease of 5.8%, mainly
due to the increase in administrative expenses and marketing and promotion expenses during
the period. The net profit attributable to the parent decreased by 1.5 ppts to 9.7% Yoy

About the author

Profile photo of Timothy Chong

Timothy Chong
Analyst
Research

Timothy Chong received Bachelor’s Degree with first class honor in Banking and Finance from University of Leicester. He is currently studying Master of investment management in Hong Kong Polytechnic University. Before joining Phillip Securities, Timothy worked at BOCOM international and he is equipped with years of experience in the capital market. Timothy is now a licensed research analyst at Phillip Securities and covers Consumer / Property Management sectors.

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