廣州遇見小麵餐飲股份有限公司董事會（「董事會」）成員載列如下： 執行董事 Guangzhou Xiao Noodles Catering Management Co., Ltd. 廣州遇見小麵餐飲股份有限公司 （在中華人民共和國註冊成立的股份有限公司） （股份代號：2408） 董事會成員名單與其角色和職能 鍾杰生先生 （主席） 陳國彬先生 宋奇先生 提名委員會 宋奇先生 （主席） 蘇旭翔先生 羅燕靈女士 非執行董事 王小龍先生 董事會設有三個董事會委員會。董事會委員會的組成如下： 審計委員會 陳國彬先生 （主席） 徐雷先生 鍾杰生先生 薪酬與考核委員會 獨立非執行董事 徐雷先生 陳國彬先生 鍾杰生先生 徐雷先生 （主席） 鍾杰生先生 羅燕靈女士 香港 2025年12月4日 ...

廣州遇見小麵餐飲股份有限公司 董事會提名委員會工作細則 第一章 總則 第一條 為規範廣州遇見小麵餐飲股份有限公司（以下簡稱「公司」）董事及高 級管理人員的產生，優化董事會和高級管理人員的組成，完善公司治理結構，根 據《中華人民共和國公司法》等有關法律、行政法規、規範性文件（合稱「國家法律 法規」）《香港聯合交易所有限公司證券上市規則》（以下簡稱「《香港上市規則》」） 及《廣州遇見小麵餐飲股份有限公司章程》（以下簡稱「《公司章程》」），公司特設立 董事會提名委員會，並制定《廣州遇見小麵餐飲股份有限公司董事會提名委員會 工作細則》（以下稱「本工作細則」）。 第二條 董事會提名委員會是董事會按照股東會決議設立的專門工作機構， 主要負責對公司董事（包括獨立非執行董事，下同）和高級管理人員的人選、選擇 標準和程序進行考核並提出建議。 第六條 提名委員會任期與董事會任期一致，委員任期屆滿，可以連選連 任。期間如有委員不再擔任公司董事職務或應當具有獨立非執行董事身份的委員 不再滿足《香港上市規則》有關獨立性的要求時，自動失去委員資格，並由委員會 根據上述第三條至第五條的規定補足委員人數。 第七條 委員會的組成未滿足本工作細 ...

廣州遇見小麵餐飲股份有限公司 董事會薪酬與考核委員會工作細則 第一章 總則 第一條 為了進一步建立健全公司董事及高級管理人員的考核和薪酬管理制 度，完善公司治理結構，根據《中華人民共和國公司法》等有關法律、行政法規、 規範性文件（合稱「國家法律法規」）、《香港聯合交易所有限公司證券上市規則》 （以下簡稱「《香港上市規則》」）及《廣州遇見小麵餐飲股份有限公司章程》（以下簡 稱「《公司章程》」），公司特設立董事會薪酬與考核委員會，並制定《廣州遇見小麵 餐飲股份有限公司董事會薪酬與考核委員會工作細則》（以下稱「本工作細則」）。 第二條 薪酬與考核委員會是董事會按照股東會決議設立的專門工作機構， 主要負責制定公司董事及高級管理人員的考核標準並進行考核；負責制定、審查 公司董事及高級管理人員的薪酬政策與方案，對董事會負責。 第三條 公司董事會秘書為薪酬與考核委員會提供綜合服務，負責協調薪酬 與考核委員會日常工作的聯絡、會議組織等；公司人力資源部門為薪酬與考核委 員會提供專業支持，負責提供公司有關經營方面的資料及被考評人員的有關資 料，並向薪酬與考核委員會反饋考核制度執行情況。 （一） 就全體董事及公司高級管理層的薪酬政 ...

廣州遇見小面餐飲股份有限公司 董事會審計委員會工作細則 第一章 總則 第一條 為強化董事會決策能力，做到事前審計、專業審計，確保董事會對 經理層的有效監督，完善公司治理結構，根據《中華人民共和國公司法》《香港聯 合交易所有限公司證券上市規則》（以下簡稱「《香港上市規則》」）《廣州遇見小面 餐飲股份有限公司章程》（以下簡稱「《公司章程》」）及其他有關法律、法規、規範 性文件的規定，公司特設立董事會審計委員會，並制訂《廣州遇見小面餐飲股份 有限公司董事會審計委員會工作細則》（以下簡稱「本工作細則」）。 第二條 董事會審計委員會是董事會的專門工作機構。審計委員會對董事會 負責，委員會的提案提交董事會審議決定。 第二章 人員組成 第三條 審計委員會委員由3名董事組成，成員須全部是非執行董事且必須以 獨立非執行董事佔大多數，不得在公司擔任除董事以外的其他職務，且不得與公 司存在任何可能影響其獨立客觀判斷的關係，至少有一名成員為具備《香港上市 規則》所規定的適當專業資格，或具備適當的會計或相關的財務管理專長的獨立 董事，並由獨立非執行董事中會計專業人士擔任主席。 第四條 審計委員會委員（以下簡稱「委員」）由董事會選舉產生 ...

廣州遇見小麵餐飲股份有限公司 章程 1 第一章 總則 第一條 廣州遇見小麵餐飲股份有限公司（以下簡稱「公司」）系依照《中華人 民共和國公司法》（以下簡稱「《公司法》」）和國家其他有關法律、行政法規成立的 股份有限公司。 為維護公司、股東、職工和債權人的合法權益，規範公司的組織和行為，根 據《公司法》《中華人民共和國證券法》（以下簡稱「《證券法》」）《境內企業境外發 行證券和上市管理試行辦法》（以下簡稱「《管理試行辦法》」）《上市公司章程指引》 《香港聯合交易所有限公司證券上市規則》（以下簡稱「《香港上市規則》」）等其他有 關規定，制訂《廣州遇見小麵餐飲股份有限公司章程》（以下簡稱「本章程」）。 第二條 公司系依照《公司法》和其他有關規定，由廣州遇見小麵餐飲管理 有限公司（以下稱「原有限公司」）整體變更、設立的股份有限公司。公司在廣 州市市場監督管理局登記註冊，並取得營業執照。公司的統一社會信用代碼為 91440106088050749B。 第三條 公司於2025年[●]月[●]日向中國證券監督管理委員會（以下簡稱 「中國證監會」）完成備案，於2025年[●]月[●]日經香港聯合交易所有限公司（以 下簡稱「香港 ...

Group 1 - The Chinese restaurant chain brand "Yujian Xiaomian" has launched its IPO in Hong Kong, with subscription starting on November 27 and expected listing on December 5, aiming to raise up to 685 million HKD, potentially becoming the first "Chinese noodle shop" listed in Hong Kong [1][3] - Founded in 2014 in Guangzhou, "Yujian Xiaomian" currently ranks fourth in the number of Chinese noodle chain stores, with a total of 465 locations across 22 cities in mainland China and Hong Kong, targeting to exceed 500 stores by the end of the year [1][3] - Projected revenue for 2024 is 1.154 billion CNY, representing a 44% year-on-year increase, while the first half of 2025 is expected to generate 700 million CNY, a 33.8% increase, with net profit expected to grow by 132%, indicating a three-year compound annual growth rate (CAGR) of 66% [1][3] Group 2 - The chain restaurant penetration rate in China's dining industry is relatively low, with an estimated 25% by 2025, significantly lower than the 54% in the United States, and trailing behind other categories like tea drinks [1][3] - Traditional noodle dishes, such as Lanzhou beef noodles and Sha County snacks, have long lacked standardized supply chains and brand operations, failing to achieve true capitalization [1][3] - The Chinese restaurant chain market is projected to reach 1.2 trillion CNY in 2024, with expectations to grow to several trillion CNY by 2030, driven by digital supply chain upgrades and the release of demand in lower-tier markets [2][4]

Core Viewpoint - The company "Yujian Xiaomian" is set to become the first publicly listed Chinese noodle restaurant on the Hong Kong Stock Exchange, with a planned IPO on December 5, 2023, and has secured cornerstone investors committing a total of $22 million, representing 25% of the total fundraising [1][2]. Company Overview - Founded in 2014 in Guangzhou, Yujian Xiaomian has expanded to 465 locations, primarily in Guangdong, with a focus on serving spicy noodle dishes to university students and white-collar workers [3][4]. - The company’s main market is in Guangdong, where it has 281 stores, accounting for approximately 60% of its total outlets, with significant presence in Beijing and Shanghai as well [3][4]. Market Positioning - The company targets a demographic of external migrants in Guangdong, where the local cuisine is generally milder, thus catering to the taste preferences of people from spicier regions like Sichuan [4][5]. - The noodle segment is seen as a potential "Chinese version of McDonald's," with a low chain restaurant penetration rate of 23% in China compared to 50% in the U.S., indicating significant growth potential [6][8]. Financial Metrics - The IPO price range is set at HKD 5.64 to 7.04, corresponding to a market capitalization of HKD 4 to 5 billion, with a projected P/E ratio of around 70 based on 2024 net profit estimates [1][2]. Competitive Landscape - The valuation of Yujian Xiaomian is significantly higher than other restaurant chains, such as Haidilao and Xiaocaiyuan, which have P/E ratios of 16 [2]. - The noodle market has faced challenges, particularly with the rise of food delivery services, which have impacted the sales of noodle dishes due to their inherent delivery limitations [11][12]. Future Outlook - The company is expected to focus on expanding its store count to enhance its business scale and increase its chain restaurant ratio, with single-store profitability becoming a key performance indicator [13].

Core Viewpoint - The first-day trading of Haiwei Co. shares resulted in a decline, breaking the record of over 2500 times subscription without a drop in Hong Kong IPO history, indicating a negative impact on market sentiment [1]. Group 1: Company Overview - Yujian Xiaomian, established in 2014, operates as a modern Chinese noodle restaurant chain, primarily featuring Chongqing noodles, and has expanded its menu to include various spicy and non-spicy dishes [3][4]. - As of June 30, 2025, Yujian Xiaomian operates 417 restaurants across China, with 331 being directly operated and 86 franchised [4]. - The company ranks as the fourth largest Chinese noodle restaurant operator by total merchandise transaction volume and thirteenth in the overall Chinese fast food market [5][12]. Group 2: Financial Performance - Yujian Xiaomian's revenue grew from 418 million RMB in 2022 to 1.154 billion RMB in 2024, achieving a compound annual growth rate of 66.2% [6]. - In the first half of 2025, the company reported revenue of 703.2 million RMB, a year-on-year increase of 33.77%, and a net profit of 41.83 million RMB, up 95.77% [7]. - The average order value has shown a declining trend from 36.1 RMB in 2022 to 32.0 RMB in 2024, while employee costs increased significantly from 109 million RMB in 2022 to 265 million RMB in 2024 [7]. Group 3: Market Position and Strategy - The market for Chinese noodle restaurants is highly fragmented, with the top five companies holding only 2.9% of the market share, while Yujian Xiaomian holds 0.5% [12]. - The company aims to differentiate itself by combining Sichuan-Chongqing flavors with standardized management practices, allowing for taste standardization and replicability [12]. - Yujian Xiaomian plans to open approximately 120 to 150 new restaurants in 2025, with further expansions planned for 2026 and 2027, indicating a strong commitment to market capture [12]. Group 4: IPO and Valuation - The IPO of Yujian Xiaomian involved issuing shares representing 13.7% of total shares, raising 685 million RMB at a maximum offer price of 7.04 HKD per share, with a market capitalization of 5 billion HKD [13]. - The company’s valuation stands at 70 times earnings, which is significantly higher compared to peers like Jiamaoji and Green Tea Group, raising concerns about future growth potential [13]. - The presence of notable cornerstone investors, including Hillhouse Capital, suggests confidence in the company's growth prospects despite the high valuation [13].

Group 1 - The core point of the article highlights significant changes in the food and beverage industry, including leadership changes and financial performance issues [1] - Zong Fuli has stepped down as the chairman and legal representative of Wahaha Group, indicating a potential shift in company strategy or governance [1] - "The first stock of Chinese noodle restaurants," Jujian Xiaomian, has initiated its IPO process and is expected to be listed on December 5 [1] Group 2 - Jiuziyuan reported a 48.69% decrease in profits for the third quarter, reflecting a decline in product sales across the board [1] - Pangge Liang responded to discrepancies in the size of crab shells and crab meat, indicating quality control issues in their product offerings [1] - Yibin has launched intelligent brewing standards for the liquor production area, integrating industrial internet and smart sensing technology, which may enhance production efficiency [1]

Core Viewpoint - Guangzhou Yujian Xiaomian Catering Co., Ltd. has officially launched its IPO process, marking its second attempt to list on the Hong Kong Stock Exchange after an initial rejection due to declining average spending per customer and fluctuating turnover rates [1] Company Growth and Expansion - The company has expanded from a single store in 2014 to 374 stores by mid-2025, primarily through a franchise model, with 74.3% of its stores being franchises [2][3] - Revenue growth has been significant, with figures of 4.18 billion, 8.01 billion, and 11.54 billion yuan for 2022, 2023, and 2024 respectively, and a 91.6% year-on-year growth in 2023 [3][4] Profitability and Financial Performance - The company has transitioned from a net loss of 35.97 million yuan in 2022 to a net profit of 45.91 million yuan in 2023 and 60.7 million yuan in 2024, with a net profit of 41.83 million yuan in the first half of 2025 [3][15] - The average order value has decreased from 36.2 yuan in 2022 to 31.8 yuan in the first half of 2025, indicating a strategy of "price for volume" that has not resulted in expected customer growth [4][15] Market Position and Competition - The company holds a 0.5% market share, ranking fourth in the Chinese noodle restaurant sector, which is characterized by a large industry with many small players [1][6] - The competitive landscape is intense, with over 2,000 noodle shops in Guangzhou alone, leading to price wars that compress profit margins [8][20] Supply Chain and Operational Efficiency - The company has established a supply chain model that balances cost control and ingredient freshness, with procurement costs accounting for 32% of total revenue in 2024, down from 38% in 2022 [11][12] - The company has built a digital supply chain system that has reduced food waste from 8% in 2022 to 4.5% in 2024, enhancing profitability [10] Brand and Marketing Strategy - The company has focused on young consumers, with 72% of its customer base aged 18-35, and has engaged in various marketing activities to enhance brand awareness [14] - Despite strong marketing efforts, the brand has struggled to translate recognition into pricing power, as evidenced by declining average spending [14][20] Future Growth Potential - The company is exploring three major consumer trends: health-oriented products, scenario-based extensions, and digital operations to enhance efficiency [9][10] - The market for noodle restaurants is projected to grow, with the top five brands' market share expected to increase from 3.0% to 8.0% between 2025 and 2030, presenting growth opportunities for the company [21]