Tsit Wing announces positive profit alert: profit attributable to owners increase not less than 30%

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HONG KONG, July 22, 2021 /PRNewswire/ — Tsit Wing International Holdings Limited ("Tsit Wing", together with its subsidiaries, the "Group"; stock code: 2119.HK), an integrated B2B food and beverage solutions provider, announces positive profit alert today. The Group is expected to record an increase of approximately 30% to 35% in profit attributable to owners of the parent over that of the corresponding period in 2020. The increase was primarily attributable to the increase in sales in Mainland China in respect of the beverage solutions segment as compared to that for the six months ended 30 June 2020 as a result of the gradual easing of COVID restrictions in Mainland China during the period.

Mr. Wong Tat Tong, Chairman, Executive Director & Chief Executive Officer of the Company, said, "With the COVID situation under control, it is expected that the catering market will gradually recover. To seize business opportunities after the epidemic, the Group will continue to focus on the development of its business in Hong Kong and Mainland China, strengthen the core business of beverage solutions, and increase our market penetration in frozen processed food market.

About Tsit Wing International Holdings Limited

Tsit Wing is a leading integrated B2B food and beverage solutions provider in Hong Kong, Macau and the PRC with 89-year heritage. According to research, coffee sold by the Group translates into almost 337.7 million cups of coffee and 403.2 million cups of milk tea per year. Tsit Wing commenced its frozen meat business in Hong Kong and the PRC since 2013 and has been dedicated to developing an integrated food and beverage solutions platform for its customers.