DEAR SHAREHOLDERS

On behalf of the board of directors (the “Board”) of Nissin Foods Company Limited (the “Company”), I am pleased to present the Annual Report of the Company and its subsidiaries (the “Group”) for the year ended 31 December 2024.

SINCE THE IPO, ADJUSTED EBITDA HAS CONTINUED TO GROW STEADILY

In 2024, China’s GDP grew at an annual rate of 5%. Despite this, the trend of consumers’ preference to save money rather than on individual consumption continued into the first half of the year. With the implementation of stimulus measures to boost individual consumption, signs of a shift towards increased individual consumption began in the second half of the year. In Hong Kong, GDP grew by 2.5% year-on-year, but individual consumption remained weak. Notably, the increasing number of people spending weekends in the Greater Bay Area driven by northbound consumption contributed to the sluggish retail sales in Hong Kong. Against this backdrop, the Group has contributed to people’s health and society by providing the pleasure of eating and tasty food to people, in line with our founder, Mr Momofuku Ando’s corporate philosophy that “foodrelated job is a sacred profession (食為聖職)”.