Matthews’s Gao Picks Noodles in Top China Fund Bet on Consumers
Tingyi Cayman Islands Holding Corp., the fund’s fourth- biggest stake as of March 31, is the world’s largest instant- noodle maker and has a 43 percent share of China’s market. The Tianjin-based company also sells water and teas.
The firm’s noodle sales rose 22 percent in the first quarter, aided by a distribution network that allows Tingyi to sell its products throughout China, Gao said. Living standards in the nation’s interior “are catching up to the coastal big cities,” he said.
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