CLSA maintains HKD 13.70 target for Tingyi stock amid cost risk

Published on 10/25/2026 at 02:59 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

CLSA expects low-single-digit revenue growth and flat profit in 2026. Tingyi stock faces raw-material cost risk in 2026.

Guidance and valuation signals

CLSA kept its HKD 13.70 target for Tingyi on September 28, 2026.
The 2026 outlook calls for low-single-digit revenue growth and flat reported net profit.
Tingyi had a HKD 69.6 billion market capitalization on October 23, 2026.

Tingyi, KYG8878S1030, Illustration mit AI erstellt.

Tingyi (ISIN KYG8878S1030) retained a HKD 13.70 target from CLSA on September 28, 2026, while its 2026 outlook called for low-single-digit revenue growth and reported net profit at least flat year over year, according to Futu. The main investor question is whether input costs will limit that earnings outlook.

Raw materials shape the outlook

CLSA said instant-noodle sales growth in July and August accelerated from 2.00 percent in the first half of 2026, while beverage sales were broadly flat year over year after rising 0.70 percent in the first half. The report identified palm oil and polyethylene terephthalate costs as the main pressure points for margins.

Palm oil costs were locked in through the end of 2026, according to Futu. Higher PET prices were expected to weigh on second-half margins, although management viewed that effect as reflected in the full-year outlook.

Three dates frame the stock

On August 21, 2026, Tingyi announced a transition involving its company secretary and Hong Kong listing representative, as reported by CNBC. On September 28, CLSA maintained its Outperform rating and HKD 13.70 target. On October 16, 2026, CNBC listed a Morgan Stanley Hold rating for Tingyi.

What does valuation imply?

Tingyi's Hong Kong listing was last quoted at HKD 12.35 on October 23, 2026 at 4:08 p.m. HKT. The stock's 52-week range was HKD 9.42 to HKD 14.14, while market capitalization stood at HKD 69.6 billion on that date. Its 2025 revenue was CNY 77.0 billion, according to El Fondo.

Recent filings add a corporate marker

Tingyi's investor center listed a monthly return on October 8, 2026, covering movements in securities for the month ended September 30, 2026. The filing sits alongside the company's August 25, 2026 announcement on its company secretary and authorized representative, according to Tingyi.

Market context and trading status

Tingyi is listed on the Hong Kong Stock Exchange under ticker 0322.HK and operates in the packaged-foods industry, with instant noodles and beverages as its core businesses. The company had 5.64 billion shares outstanding and a 3.77 percent dividend yield in the market profile reviewed by CNBC.

Hong Kong listing remains the reference

The Hong Kong listing was last quoted at HKD 12.35 on October 23, 2026 at 4:08 p.m. HKT, while the market capitalization was HKD 69.6 billion. The further course of trading is shown by the continuously updated real-time quote of Tingyi stock.