Source:
https://scmp.com/article/159909/tingyi-noodles-explains-its-business-intentions

Tingyi noodles explains its business intentions

Tingyi (Cayman Islands) Holding has clarified reports it plans to issue new A shares in China, spin off its biscuits business in the territory and invest US$80 million in its beverage business.

The Taiwan firm said it did not intend to seek any listing in China and Singapore yet, would not spin off its biscuit business, and had no plan to invest the money on establishing beverage production lines.