Core Viewpoint - Jiangsu Hongxin, a regional supermarket company from Yangzhou, has successfully listed on the Hong Kong Stock Exchange amid challenges faced by traditional retail, aiming to enhance its operational capabilities and store image through raised capital [1][4]. Group 1: Company Overview - Jiangsu Hongxin operates 51 supermarkets and 109 convenience stores, with the majority located in Yangzhou and a few in Taizhou [1]. - The company ranked second among supermarket operators in Yangzhou with a market share of approximately 9.1% in 2023 [4]. - The company has seen a significant reduction in store count from nearly 500 to 160, indicating challenges in expansion and market adaptation [5]. Group 2: Financial Performance - Jiangsu Hongxin's revenue figures from 2021 to the first nine months of 2024 are as follows: 14.32 billion, 13.29 billion, 14.02 billion, and 10.06 billion CNY, with net profits of 350.8 million, 510.65 million, 516.02 million, and 240.78 million CNY respectively [6]. - The retail business's revenue contribution has decreased from 62% in 2021 to 41.6% in the first nine months of 2024, while the wholesale business's share increased from 36.7% to 56.9% during the same period [6]. Group 3: Strategic Initiatives - The company plans to use the raised funds to improve store image, upgrade logistics, invest in information technology, and enhance its central kitchen capabilities [1]. - Jiangsu Hongxin is entering the prepared food market, with a central kitchen capable of producing 10,000 meals per day, primarily serving local schools [7]. - The prepared food market in the Suzhong region is projected to grow from approximately 10.64 billion CNY in 2024 to 19.78 billion CNY by 2027, with a compound annual growth rate of about 22.96% [7].
带160家商超门店赴港上市 江苏宏信董事长高峰：门店的“开”与“关”很正常，将提升改善传统门店形象