# Tingyi Holding

Master Kong’s Bitter Aftertaste: Why a Failed Soda Promotion Signals Deeper Rot in China’s CPG Giant

Master Kong’s revival of its 'One More Bottle' promotion has backfired, exposing a systemic collapse in its distribution network and consumer trust. Amidst its first revenue decline in nearly a decade, the beverage giant is struggling to compete with fresh tea chains while transitioning back to family-led management.