October 28, 2025 / Cnyes.com / Chang Chin-Fa
A subsidiary of Nan Chiao (1702-TW) that invests in Royal Coca-Cola (7791-TW), which holds a high market share in the ice cream and frozen cooked noodle sectors. The company began trading on the Taiwan Stock Exchange today (28) at NT$72 per share, reaching a high of NT$84.5 in early trading,representing a gain of 17.361%. With Royal Coca-Cola’s listing today, Nan Chiao has officially become a “T+T+A” company listed on three exchanges across the Taiwan Strait.
Royal Coca-Cola's IPO in Taiwan. On the left is Royal Coca-Cola Chairman Chou Ming-fen, and on the right is Taiwan Stock Exchange President Lee Ai-ling. (Photo by HNA, Chang Chin-fa)
Listed company Nanqiao listed in Taiwan in May 1973, its subsidiary Shanghai Nanqiao Food completed its IPO on the Shanghai A-share market in May 2021, and today Nanqiao's other subsidiary, Royal Taste, is listing in Taiwan at NT$72 per share.
Royal Coca-Cola reported revenue of 1.268 billion yuan and net profit after tax of 286 million yuan for the first half of 2025, representing a year-over-year increase of over 20%, with earnings per share reaching 4.08 yuan.Revenue for January–September 2025 was 1.831 billion yuan.
In terms of revenue structure, Royal Coca-Cola generates 70–80% of its revenue from ice cream, with frozen cooked noodles accounting for 20–30%;The third frozen cooked noodle production line is scheduled to begin operations in October, effectively doubling the company’s production capacity for frozen cooked noodles. Building upon its established cold chain product supply and distribution network, as well as its existing retail and foodservice channel systems,Royal Coco Chairman Zhou Mingfen stated that the company is also considering leveraging its cold chain advantages to introduce more competitive product offerings.
Chia Nan Holding Chairman Chen Fei-lung also attended the IPO listing of Royal Foods on the 28th. (Photo by CNA reporter Chang Chin-fa)
Learn from inspiration, then innovate.
Zhou Mingfen pointed out that Royal Co. was established in 1988 with investment from Nan Qiao Holdings. Chairman Chen Feilong of Nan Qiao firmly believed that ice cream was a business with long-term development potential, and a key ingredient in ice cream, fats and oils, was crucial for Nan Qiao's diversified development. By utilizing fats and oils in the processing of the ice cream industry, they have continuously created more diverse and high-quality products over the years, thus creating new industrial value for both ice cream and fats and oils. Furthermore, the innovative technology for instant frozen cooked noodles was introduced to Taiwan 28 years ago. With its quick and convenient operation and stable, excellent quality, it has provided effective solutions for Taiwanese catering businesses. Royal Co.'s instant frozen cooked noodles have also played an important role in the development of the catering industry. Today, whether it is Duruo Ice Cream or Nan Qiao Sanuki Instant Frozen Cooked Noodles, their market positions represent the foresight of Nan Qiao Holdings' initial investment.
Zhou Mingfen pointed out that pasta is a delicious and efficient meal solution for modern people. Both for foodservice operators and consumers, there are increasing demands for frozen cooked noodles. Ice cream is a dessert, while frozen cooked noodles are a staple food. The former is mainly B2C, and the latter is mainly B2B. Royal Delicious has these dual engines, and in the future, whether serving consumers directly in the retail market or serving catering clients, there will be broad space for mutual support.
