China’s Delivery Industry Kills Instant Noodles, Sales Plummet by 5 Billion Packs
China’s Delivery Industry Kills Instant Noodles, Sales Plummet by 5 Billion Packs
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Even top brands in the industry have not been spared from declining performance. On August 26, 2024, Kang Shifu Holdings released its semi-annual financial report. The data showed that revenue from instant noodle sales in the first half of 2024 was 13.8 billion yuan, down 140 million yuan compared to the same period last year. Its revenue ratio was 33.5%, a 1% decrease year-on-year. In 2023, Kang Shifu’s instant noodle sales reached 28.8 billion yuan, an 800 million yuan decline from the previous year, representing a 2.8% drop.
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