图片来源：Pexels 据好想你1月28日发布的公告，鸣鸣很忙发行完成后，好想你及其全资子公司合计持股1257.62万股，占发行后总股本约5.84％。以发行价236.60港元/股、收 盘价400港元/股计算，单股盈利163.4港元，单日合计浮盈超20亿港元。 然而，好想你当日股价走出截然相反的行情。1月28日，好想你股价跌停，报12.88元/股，公司总市值约58亿元。 好想你在公告称，鸣鸣很忙以公允价值计量，且其变动计入当期损益金融资产。鸣鸣很忙上市前，预计对公司2025年业绩产生积极影响，上市后，其股价变 化亦将对公司2026年度经营业绩有不确定性影响。 1月28日，休闲食品饮料连锁零售商湖南鸣鸣很忙商业连锁股份有限公司（01768.HK，以下简称"鸣鸣很忙"）在香港联合交易所主板挂牌上市。 虽然，好想你对鸣鸣很忙的投资账面收获颇丰，但公司自身近年业绩表现承压。2024年好想你营收约16.70亿元，同比下滑3.39%；归母净利润亏损7195.77 万元，同比下降38.67%；扣非归母净利润亏损8051.51万元，同比下滑35.71%。 上市首日开盘，鸣鸣很忙股价快速冲高，盘中涨幅一度达到88％。截至1月28 ...

Group 1 - 31 provinces in China have announced their economic growth rates for 2025, with nearly half exceeding last year's targets. Tibet leads with a growth rate of 7%, followed by Gansu at 5.8% and Hebei and Henan at 5.6% [4] - Shenzhen Metro Group has provided an additional loan of 2.36 billion yuan to Vanke for debt repayment, with a three-year term and an interest rate of 2.34% [4] - Hang Seng Bank has officially delisted from the Hong Kong Stock Exchange, following a privatization plan by HSBC that was approved by the Hong Kong High Court [5] Group 2 - ByteDance has implemented new social media guidelines prohibiting employees from using company resources for personal profit, which is expected to significantly reduce the number of commercial accounts operated by employees [6] - Amazon announced a restructuring that will affect nearly 16,000 jobs, while continuing to recruit talent in key strategic areas [7] - Tesla plans to cease production of the Model S and Model X vehicles to focus on its "Optimus" robot production line, marking a shift towards a future based on autonomous driving [9] Group 3 - Meta reported fourth-quarter revenue of $59.89 billion, a 24% year-over-year increase, with advertising revenue also up by 24% [17] - Microsoft announced second-quarter revenue of $81.27 billion, with significant contributions from its cloud and productivity segments [17] - Tesla's fourth-quarter revenue was $24.90 billion, a 3% year-over-year decline, with net profit down 61% to $840 million [17]

Core Viewpoint - The company "好想你" has successfully transformed from a primary seller of red dates to a leading angel investment institution in the new consumption sector, with its investment in "鸣鸣很忙" marking another successful listing on the Hong Kong Stock Exchange [1] Group 1: Company Performance - In the second half of last year, the company's profitability significantly improved, with Q3 revenue reaching 374 million yuan, a year-on-year increase of 3.51%, and net profit attributable to shareholders rising by 161.82% to 15.13 million yuan [2] - The company has enhanced its overall profitability and operational efficiency through focused product management, strategic raw material procurement, centralized bidding, and refined production management [2] Group 2: Market Strategy - The company is actively promoting full-channel penetration, establishing partnerships with high-potential offline supermarkets such as Sam's Club, Yonghui, and others, while optimizing its online ecosystem across major e-commerce platforms like Douyin, Taobao, and JD [2] - The company is expanding its product matrix by innovating and upgrading its offerings to meet new consumer demands for health foods, transitioning from traditional red date snacks to a broader range of leisure and health food products [2] Group 3: Industry Insights - The product iteration strategy of the company exemplifies a typical path for traditional food enterprises to transition towards health-oriented and youth-focused markets, leveraging core raw materials, technological innovation, and full-channel penetration [3] - The success of the company validates the structural opportunities within the health food industry [3]

截至2025年9月30日，在整合了"零食很忙"与"赵一鸣零食"两个品牌之后，这家零售巨头的GMV去到了 661亿元人民币，门店总数达19517家，实现了"全国各线级城市+1341个县"的门店覆盖。要知道，目前 中国全国的县域数量为1813个。 万店规模的采购，让鸣鸣很忙能打破传统多层分销模式，砍掉经销商，直接对接超2500家厂商，其中不 乏诸多食品行业头部企业)，从而获得显著的采购成本优势，最终在终端形成了比超市便宜25%左右的 价格优势。 简单来说，鸣鸣很忙不生产零食，而是零食的搬运工。 据鸣鸣很忙首轮融资的联合领投方高榕创投透露，在与创始人晏周第一次见面洽谈时，"晏周接近80% 的时间都在谈供应链"。由此可见这家公司真正的重心在哪。 21世纪经济报道记者刘婧汐 1月28日，鸣鸣很忙正式登陆港交所，股票代码为[01768.HK],开盘价报445港元，较236.6港元的发行价 大涨88.08%。 这是一次引发资本市场广泛关注的IPO。在认购阶段，鸣鸣很忙就吸引了包括腾讯、淡马锡在内的8家 基石投资者，认购总额约1.95亿美元，约15.20亿港元。 资本看到了鸣鸣很忙身上的哪些闪光点？用一句话概括就是——鸣鸣很 ...

Core Insights - Hunan Mingming Hen Mang Commercial Chain Co., Ltd. has successfully listed on the Hong Kong Stock Exchange, becoming the first stock in the "bulk snack" sector, with a market capitalization exceeding 90 billion RMB after an opening surge of 80% [1] - The company was formed from the merger of "Snacks Very Busy" and "Zhao Yiming Snacks" in November 2023, marking a significant restructuring in the retail industry [1] - Black Ant Capital has played a crucial role as the sole financial investor in Zhao Yiming Snacks, witnessing its growth from outside the top ten to a leading position in the industry [1][3] Company Overview - Mingming Hen Mang has expanded to over 10,000 stores across 28 provinces, with 59% of its outlets located in county-level towns [1] - The company has achieved a retail sales volume (GMV) of 66.1 billion RMB, a year-on-year increase of 74.5%, and revenue of 46.371 billion RMB, up 75.2% [16] - The number of operational stores reached 19,517, with signed contracts exceeding 20,000 [16] Investment Journey - Black Ant Capital began investing in Zhao Yiming Snacks in early 2023, recognizing the potential in the bulk snack industry just before its explosive growth [3][10] - The investment decision was influenced by extensive market research, including visits to over 300 stores and discussions with more than 50 franchisees, revealing strong confidence in future store openings [9][10] - The first round of financing amounted to 150 million RMB, with the company’s valuation doubling shortly after the investment [9] Market Dynamics - The bulk snack industry is characterized by intense competition and price wars, with the potential for multiple leading brands to coexist [10][14] - The merger of Mingming Hen Mang and Zhao Yiming Snacks was expedited by shared values and a mutual understanding of the franchise model, which is essential for scaling operations [14][15] Future Outlook - The company aims to leverage the growing urbanization rate in China to enhance its market presence, positioning itself as a new commercial infrastructure in lower-tier markets [16] - Black Ant Capital continues to support Mingming Hen Mang in talent acquisition and strategic partnerships, enhancing its competitive edge in the industry [14][15]

每经记者｜李旭馗 每经编辑｜程鹏 张益铭 1月28日，"量贩零食第一股"鸣鸣很忙（HK01768）正式登陆港交所，开盘股价涨超88%，市值直接突破920亿港元，随后股价回调。截至当日收盘，鸣鸣 很忙报400港元/股，涨69.06%，总市值862.04亿港元。此前在公开发售阶段，公司认购倍数超过1500倍，包括腾讯、淡马锡、贝莱德等在内的8家基石投 资者合计认购超15亿港元。 公开资料显示，鸣鸣很忙拥有"零食很忙"和"赵一鸣零食"两个品牌。两个品牌的创始人均不到40岁。 然而，在上市仪式现场，《每日经济新闻》记者注意到，与其他公司董事长通常在敲锣时所穿的定制西装不同，鸣鸣很忙创始人、董事长兼CEO晏周的这 身"行头"显得相当低调、简单与朴素。他身穿一件胸口印有鸣鸣很忙标识的白色卫衣和一条卷边的灰色牛仔裤，脚踩一双白色休闲鞋。卫衣的衣摆前侧折 起，后侧垂落，不知道是不是晏周故意的穿搭巧思。当天，鸣鸣很忙到场的员工都穿着同样的白色卫衣，身在其中的晏周更像是一名员工代表。 晏周是一个典型的"草根"创业者。公开资料显示，晏周，1987年出生于湖南长沙，2024年7月，晏周从国家开放大学工商企业管理专业毕业。他早年在房 ...

Company Overview - Hunan Mingming Henbang Commercial Chain Co., Ltd. officially listed on the main board of the Hong Kong Stock Exchange, issuing 15.5112 million shares at a price of HKD 236.6 per share [1] - The stock surged by 88.08% on its debut, reaching HKD 445, with a current market capitalization of HKD 95.275 billion [1] Business Performance - Mingming Henbang achieved a retail sales (GMV) of RMB 66.1 billion in the first nine months of 2025, with a store count of 21,041 across 28 provinces and various city tiers [3] - 59% of the stores are located in county towns and rural areas, positioning the company as a key player in connecting consumer demand with the Chinese food industry [3] Industry Growth - The Chinese snack food and beverage retail industry has seen significant growth, with market size projected to increase from RMB 2.9 trillion in 2019 to RMB 3.7 trillion by 2024, reflecting a compound annual growth rate (CAGR) of 5.5% [3] - The market is expected to further expand to RMB 4.9 trillion by 2029, driven by rising food consumption levels and changing consumer preferences [3] Strategic Plans - The company plans to increase investment in marketing and brand building to attract new consumers and retain existing ones, while also aiming to penetrate new regional markets [3] - However, the company acknowledges that failure to implement effective branding and marketing strategies could negatively impact its operational performance [3]

根据招股书信息，鸣鸣很忙在本次IPO中总计发行15511200股H股，发行价为每股236.60港元，总计募 集资金约36.7亿港元。此次发行受到了市场的热烈追捧，其中香港公开发售部分获得了1899.49倍的超额 认购，国际发售部分也获得了44.44倍的认购。 值得关注的是，鸣鸣很忙本次IPO引入了强大的基石投资者阵容。8家基石投资者累计认购金额约1.95亿 美元，其中包括腾讯和淡马锡分别认购4500万美元，贝莱德认购3500万美元，富达基金认购3000万美 元，此外，泰康人寿、博时国际、易方达基金以及淡水泉资本（Springs Capital）也分别参与了1000万 美元的认购。 2026年1月28日，湖南鸣鸣很忙商业连锁股份有限公司（以下简称"鸣鸣很忙"）正式在香港交易所主板 挂牌上市，股票代码为"1768"，成为首家在港股上市的量贩零食品牌。 （文章来源：21世纪经济报道） 鸣鸣很忙创始人、董事长兼CEO晏周在上市仪式上表示，公司从一家社区小店起步，发展至今已在全国 拥有超过2万家门店，成为了广受消费者欢迎的品牌。他强调，公司的初心是让消费者能以实惠的价格 购买到优质零食，并帮助加盟商通过自身努力实现商业 ...

全球金融市场正迎来一场由日债风暴引发的资金重构。 近日，日本40年期国债收益率自1995年以来首次突破4%，30年期国债收益率飙升至历史新高，叠加日本政府债务率突破240%、日央行释放加息信号 的双重压力，万亿规模的日美货币套息交易加速了结。 这一趋势更直接引发美元走弱、美债抛售潮，美元资产吸引力持续褪色，全球资金开启新一轮"搬家"，而避险主权债务风险、抵御信用货币贬值成为 核心考量因素。 当前，这些资金迁徙的轨迹或已逐渐清晰显现：大宗商品市场上，黄金、白银、铜等贵金属持续刷新历史新高，成为抗通胀的传统锚点；权益市场 中，亚太资产成为资金避风港——韩国股指强势攀升，总市值反超德国股市；中国台湾加权指数连续两日创下历史新高，并向33000点整数关口稳步 迈进；香港恒生指数更在1月28日突破27700点，创下2021年7月以来近4年半新高，南向资金与外资回流形成共振，交投活跃度较此前进一步放大。 聚焦港股这一核心枢纽，站在外资视角，在本轮资金回流中，究竟哪些资产会成为配置首选？ 01、排除法锁定最终答案 若从港股核心板块的大致分类，如科技股、生物科技股、消费股、金融地产股、国企及中资股等来观察，用排除法可清晰锁定 ...

0:00 （鸣鸣很忙上市现场 摄/张伟泽） 南方财经 21世纪经济报道记者 张伟泽 实习生周静仪 香港报道 2026年1月28日，湖南鸣鸣很忙商业连锁股份有限公司（以下简称"鸣鸣很忙"）正式在香港交易所主板 挂牌上市，股票代码为"1768"，成为首家在港股上市的量贩零食品牌。 鸣鸣很忙创始人、董事长兼CEO晏周在上市仪式上表示，公司从一家社区小店起步，发展至今已在全国 拥有超过2万家门店，成为了广受消费者欢迎的品牌。他强调，公司的初心是让消费者能以实惠的价格 购买到优质零食，并帮助加盟商通过自身努力实现商业成功。晏周还阐述了公司的企业愿景——"创造 快乐生活，成为人民的零食品牌"，并表示未来将继续努力拓展市场，将鸣鸣很忙带到更多地方，服务 更广泛的消费人群。 根据招股书信息，鸣鸣很忙在本次IPO中总计发行15511200股H股，发行价为每股236.60港元，总计募 集资金约36.7亿港元。此次发行受到了市场的热烈追捧，其中香港公开发售部分获得了1899.49倍的超额 认购，国际发售部分也获得了44.44倍的认购。 值得关注的是，鸣鸣很忙本次IPO引入了强大的基石投资者阵容。8家基石投资者累计认购金额约1.95 ...