【深圳商报讯】（记者钟国斌）作为A股调味品行业龙头企业，海天味业近日启动港股全球发售相关工 作，本次发售时间为6月11日至16日，发售价格35港元/股至36.3港元/股，最高募资总额约95.6亿港元， 成为年内港股市场最大规模IPO之一。6月19日，海天味业H股在港交所主板上市。 海天味业赴港上市吸引了众多投资者踊跃参与，其中基石投资者认购金额近47亿港元，认购份额约占总 发售股份的50%。这一数据不仅创下年内基石投资者认购规模的新高，也充分展现出国际资本对中国消 费行业龙头企业的高度认可。 业内人士表示，此次IPO将成为港股2023年以来继宁德时代、美的集团港股IPO后，基石投资者认购规 模第三大的IPO。 公开资料显示，海天味业成立于2000年，前身是1955年佛山25家古酱园合并重组而成的"海天酱油厂"。 按销量计算，截至2024年，海天味业已连续28年蝉联国内最大调味品企业。按2024年收入计算，海天味 业在国内调味品市场中排行首位，在全球调味品市场中排名第五；酱油、蚝油产品销量连续多年位居国 内调味品市场第一。 （文章来源：深圳商报） 2014年，海天味业在A股上市。上市以来，海天味业展现出强劲的增 ...

Group 1 - The core viewpoint of the articles highlights the strong demand for Haitian Flavor Industry's IPO, with a subscription amount reaching nearly 400 billion HKD, oversubscribed by approximately 695 times compared to the initial fundraising target of 573 million HKD [2] - The company plans to fully exercise its over-allotment option, increasing the share issuance by 6%, with a final offer price set at 36.3 HKD, leading to an expected total fundraising amount of about 10.15 billion HKD [2] - The international offering attracted significant interest from top institutional investors, with cornerstone investors collectively subscribing for nearly 1.29 million shares, accounting for nearly 50% of the total shares offered, amounting to nearly 4.7 billion HKD [2] Group 2 - Haitian Flavor Industry is set to officially list on the Hong Kong Stock Exchange on June 19, reflecting strong global investor confidence in the Chinese consumer market and the core competitiveness of leading companies in the seasoning industry [3] - The Hong Kong IPO market has shown strong attractiveness this year, with 29 companies completing listings in the first five months, accumulating a total fundraising amount of 77.7 billion HKD, making it the leading market globally in terms of fundraising [3] - There is an expectation for many quality companies to continue listing in Hong Kong in the second half of the year, with consumer and technology sectors remaining focal points for investors [3]

Investment Rating - The report maintains an "Outperform" rating for the food and beverage sector [2][5][6]. Core Views - The high-end liquor prices continue to face pressure, influenced by a "ban on alcohol" affecting short-term market fluctuations. The white liquor industry is undergoing a longer adjustment cycle compared to the previous one, with demand decline attributed to regulatory policies and economic activity levels [3][13][15]. - The food and beverage sector experienced a decline of 4.42% during the week, underperforming the Shanghai Composite Index by 4.17 percentage points [2][24]. Summary by Sections 1. White Liquor - High-end liquor prices are under pressure, with a reported 2.0% year-on-year decline in liquor prices from January to May. The white liquor index fell by 5.3% this week, influenced by the "ban on alcohol" for public officials [3][15]. - Recommended stocks include leading companies with proven risk resilience such as Kweichow Moutai, Shanxi Fenjiu, and Wuliangye, as well as those with digital transformation benefits like Luzhou Laojiao [3][15]. 2. Consumer Goods - The upcoming IPO of Haitian Flavoring and Food Co. is noted, with the beer and beverage sectors entering a peak season. The report suggests focusing on alpha-type beer stocks like Yanjing Beer and Zhujiang Beer during valuation corrections [4][16]. - The snack sector is experiencing a trend of differentiation, with recommendations for companies like Wei Long and Yanjinpuzi that are innovating in product categories and channels [4][18]. 3. Seasonality and Market Trends - The report highlights that the beer sector is entering its peak season, with expectations for stable or growing sales due to favorable weather conditions. The report suggests monitoring stocks like Qingdao Beer and China Resources Beer for rebound opportunities [4][17]. - The dairy sector is expected to see a gradual recovery in demand, with potential policy catalysts and supply adjustments leading to improved conditions in 2025 [4][21]. 4. Investment Recommendations - The recommended investment portfolio includes Kweichow Moutai, Wuliangye, Shanxi Fenjiu, Luzhou Laojiao, Yanjing Beer, Wei Long, and Yihai International [5][6].

天眼查App信息显示，海天味业成立于2000年4月，位于广东省佛山市。目前，该公司的注册约55.6亿 元，法定代表人为程雪，主要股东包括广东海天集团股份有限公司、庞康、程雪等。 | | | 在用的装业量第工 | 量考版 置关系 立公园 | 量风险 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 家中市金融发展中基金融机械 | 偶山市寿天德味食品股份有限公司 | 0 | 天明一五 | 點 应用 7 | 合作通道 企业级 | | 基本信息 309 | | 上市信息 999+ | 法律诉讼 102 | 经营风险/300+ | 经营信息 000+ | 公司发展 47 | 知识产权 899 | | 主要股东 @ 高股权结构 | | | | | | | | | 最新公示10 | | 工商量记2 历史主要股东21 | 殷权变更历程50 | | | 更新日期号:2025-03-31 | 股东类型, 12 | | 序号 | | 股东名称 | | 股份类型 | 搏股比例: | 持股数(股); | 间接搏胆比例 | | 1 | | 东海天集团股份有限公 ...

Group 1 - Several A-share companies have made progress in their plans to list in Hong Kong since June, including Haitai Flavor Industry and Sanhua Intelligent Control, which have initiated their IPO processes [1] - As of June 15, 2023, five A-share companies have successfully listed in Hong Kong this year, raising a total of 56 billion HKD [1] - Over 50 A-share companies have officially announced their intentions to list in Hong Kong, indicating a growing trend [1] Group 2 - The "A+H" dual listing model is gaining popularity among leading A-share companies, driven by the need for overseas expansion and efficient foreign currency financing [2] - The China Securities Regulatory Commission has expedited the approval process for companies seeking to list in Hong Kong, particularly for those with a market capitalization exceeding 10 billion HKD [2] - Listing in Hong Kong not only meets the overseas business expansion needs of A-share companies but also increases the proportion of international investors [2] Group 3 - Foreign institutional ownership in some A-share companies is already significant, with Midea Group and CATL having over 24% and 22% of their free-floating shares held by foreign investors, respectively [3] - The total foreign ownership of A-shares is capped at 30% for any single company, which encourages companies to seek additional international investment through Hong Kong listings [4] Group 4 - The return of international long-term capital is a major driver for A-share companies to list in Hong Kong, with many international institutions participating in the H-share international placement lists of companies like CATL and Heng Rui Pharmaceutical [4] - International long-term investors prefer industry leaders and companies with clear profit paths and lower risks, which aligns with the profiles of many A-share companies seeking Hong Kong listings [4] Group 5 - The liquidity of the Hong Kong market has significantly improved, with the Hang Seng Index and Hang Seng Tech Index both showing over 15% gains year-to-date [5] - The average daily trading volume in the Hong Kong market has increased by 120% year-on-year, indicating heightened investor interest [5] - The Hong Kong Securities and Futures Commission is implementing strategies to enhance market attractiveness and competitiveness [5] Group 6 - There has been a notable return of international capital to both A-share and Hong Kong markets, suggesting a potential restructuring of global asset allocation [6] - Hong Kong is positioned as a key financing platform for mainland companies looking to expand internationally, especially in response to global supply chain challenges [6]

Core Viewpoint - Haitai Weiye, a leading condiment company in A-shares, has officially launched its global offering for a secondary listing in Hong Kong, scheduled from June 11 to June 16, with expected listing on June 19 [1] Group 1: Global Offering Details - The company plans to issue 263 million H-shares, with 247 million shares allocated for international offering and 15.79 million shares for public offering in Hong Kong [2] - The expected price range for the shares is between 35 to 36.3 HKD per share, with cornerstone investors committing nearly 4.7 billion HKD, accounting for about 50% of the total offering [2][3] - Notable cornerstone investors include Hillhouse Capital, GIC, UBS Asset Management, and others, indicating strong market confidence in the company [2] Group 2: Financial Performance - Since its listing in 2014, the company's revenue has grown from 9.8 billion RMB to over 26.9 billion RMB, maintaining a strong market position [3] - The company reported revenues of 256.1 billion RMB, 245.59 billion RMB, and 269.01 billion RMB for the years 2022 to 2024, with net profits of 62 billion RMB, 56.42 billion RMB, and 63.55 billion RMB respectively [3] - In the first quarter of 2025, the company achieved a revenue of 8.315 billion RMB, an increase of 8.1% year-on-year, with a net profit of 2.207 billion RMB, up 14.5% [3] Group 3: Market Position - Haitai Weiye holds a 4.8% market share in China's condiment market, which is projected to reach 498.1 billion RMB in 2024, making it the market leader [4] - The global condiment market is expected to reach 2.1438 trillion RMB in 2024, with the company holding a 1.1% share, ranking fifth globally [5] Group 4: Global Expansion Strategy - The company aims to utilize the funds raised from the listing for global brand building, sales channel expansion, and enhancing overseas supply chain capabilities, with 20% of the funds specifically allocated for these purposes [6][7] - The company has already initiated its overseas expansion by establishing several international trade companies and plans to enhance its presence in Southeast Asia and Europe [6][7]

21世纪经济报道记者刘婧汐 广州报道 "酱油茅"海天味业（603288.SH，03288.HK）的招股如火如荼。 智通财经信息显示，截至6月13日，海天味业的孖展额超购已逾488倍。此前公司还引入了高瓴、GIC等 8家基石投资者，认购总额近6亿美元，占总发行股份49.74%。 海天味业于6月11日起至6月16日进行招股，计划6月19日在香港联交所主板挂牌并开始上市交易。公司 发行拟募资约92.71亿港元，将主要用于国际化及产能升级等战略。 （图片来源：公司公告） 此次发行，标志着香港资本市场迎来又一重磅"A+H"上市公司。 若其能顺利完成，在年内的港股新股 中，海天味业的募资金额或仅次于宁德时代和恒瑞医药，排名第三；在消费股中则超越蜜雪冰城，排名 第一。 基石、散户热捧 海天味业本次IPO向全球发售H股基础发行股数为2.63亿股。其中，香港公开发售占6%，国际发售占 94%，并授予承销商15%的超额配股权。其发行价格区间定为每股35.00港元~36.30港元，以发售价中位 数35.65港元/股计算，预计募资净额约92.71亿港元。 在A股市值已超2000亿的"酱油茅"，此次IPO也吸引了不少海内外资金的青睐。 ...

此前，海天味业曾陷入"双标门"争议。2022年9月，有网友指出其国内部分酱油含谷氨酸钠、苯甲酸钠 等添加剂，而日本市场产品配料更简洁。公司三次回应强调，国内外均销售含添加剂与零添加产品，食 品添加剂使用符合国家标准，否认"双标门"相关指控。 据招股书，2024年，海天味业海外收入占比不足10%，本次计划将募资主要用于"建立全球品牌形象、 拓展海外销售渠道及提升供应链能力"，包括在东南亚建厂、开展本地化营销及收购海外品牌。 近日，佛山市海天调味食品股份有限公司(以下简称"海天味业（603288）")宣布正式启动全球公开发 售，预计于6月19日在香港联交所主板挂牌并开始上市交易。据全球发售方案，海天味业此次招股最高 发售价定为每股H股36.3港元，折合人民币约33.3元/股。海天味业将发行2.63亿股H股。此次参与认购的 基石投资者包括高瓴资本、新加坡政府投资公司GIC、瑞银资管、加拿大皇家银行、中信产业基金、红 杉、博裕等8家行业巨头、主权财富基金和顶级市场化机构，认购金额近47亿港元。 2022-2023年，海天味业的归母净利润分别下滑7%和9%。至2025年4月，海天味业交出一份"回暖"的 2024年财报。 ...

调味品巨头海天味业（603288.SH）近日宣布，其港股上市计划已进入实质阶段，将于6月11日正式在港交所启动招股流 程，港股代码定为03288.HK。此次IPO的发行价格区间设定为35.00港元至36.30港元，相较于6月11日其在A股市场的收盘 价41.73元人民币，折让幅度在20.36%至23.21%之间，每手入场费需3,666.62港元。 根据招股计划，海天味业将发行2.63亿H股，约占其扩大后已发行股本的4.5%。其中，6%的股份将在香港本地发售，剩 余的94%则面向国际市场发售。此次IPO预计筹资总额将达到92.71亿港元。 财务数据显示，海天味业2024年度收入同比增长9.53%，达到269.01亿元人民币，股东应占净利润增长12.75%，至63.44亿 元人民币。公司还向股东派发了36.60亿元人民币的股息，按其A股市值计算，股息收益率为2.95%。 尽管今年以来海天味业在A股市场的表现略逊于大盘，但港股新股市场近期表现强劲，如新消费股蜜雪集团和动力电池龙 头宁德时代均在港股上市后取得显著涨幅。这为海天味业的港股上市提供了积极的市场氛围。 港股市场上，虽然已有多家调味料企业上市，但海天味业的规 ...

Group 1 - The Hong Kong IPO market is experiencing a strong recovery, with new fundraising exceeding 60 billion HKD in 2025, making it the top globally [1] - The "A+H" shares are expected to account for up to 50% of new listings, with a conservative estimate of one-third [1] - As of May 2025, there have been 27 new IPOs in Hong Kong, raising a total of 77.7 billion HKD, representing a year-on-year increase of 29% and over 8 times [1] Group 2 - Regulatory measures have encouraged more A-share companies to list in Hong Kong, making mainland enterprises the core driving force of the IPO market [2] - There is an expectation of at least 6 large IPOs (raising 1 billion USD or more) in 2025, primarily from the consumer retail sector [2] - The enthusiasm of retail investors is crucial for the success of IPOs, as seen with significant participation in recent offerings [2] Group 3 - The Hong Kong IPO market is showing signs of recovery compared to previous years, driven by A+H shares and mainland enterprises, with notable performance in consumer retail and technology sectors [3] - Policy support, valuation advantages, and retail investor enthusiasm are injecting vitality into the market [3] - Continued positive performance in the IPO market could amplify the "snowball effect," encouraging more companies to list in Hong Kong [3]