遇见小面冲刺港股IPO，曾因食安、裁员等问题引争议

Core Viewpoint - The company "Guangzhou Yujian Xiaomian Catering Co., Ltd." has submitted its listing application to the Hong Kong Stock Exchange, aiming to become the "first stock of Chinese noodle restaurants," but faces controversies related to food safety and employee layoffs [1][3]. Group 1: Food Safety Issues - Food safety is critical for restaurant businesses, and Yujian Xiaomian has faced regulatory scrutiny. In June 2024, the Beijing Haidian District Market Supervision Administration reported that the company failed to implement its food safety responsibilities, leading to a required rectification [3]. - In November 2024, the company received a warning for not maintaining cleanliness at its Dongzhimen branch [3]. - As of April 24, 2025, there have been 189 complaints against the company on the Black Cat Complaints platform, with several related to food safety, including reports of foreign objects in food and health issues requiring medical attention. The overall complaint resolution rate is below 30% [3]. Group 2: Layoff Controversy - Shortly after the listing application, the company faced backlash over a layoff incident. The public relations director revealed on social media that she received a layoff notice at home while on leave for her child's illness, raising concerns about privacy violations [9]. - The company's HR claimed it was a mistake in filling out emergency contact information, but the director has sought legal recourse, indicating potential legal risks for the company [9]. Group 3: Dividend Strategy Concerns - The company's dividend strategy has raised market concerns, as it declared dividends totaling 34 million yuan, which is 56% of its net profit of 60.7 million yuan for 2024, despite not having stable profitability [12]. - Financial pressures are evident, with short-term loans reaching 50 million yuan and cash reserves at only 42.19 million yuan, alongside a net current liability of 242 million yuan and a long-term debt ratio exceeding 90% [12].