鸣鸣很忙冲刺IPO：2024年营收393亿元，门店数量超1.4万家

Core Viewpoint - Hunan Mingming Hen Mang Commercial Chain Co., Ltd. has officially submitted its IPO application to the Hong Kong Stock Exchange, with significant revenue growth projected for the coming years [1][2] Company Overview - The company reported revenues of 4.286 billion RMB, 10.295 billion RMB, and 39.344 billion RMB for the years 2022, 2023, and 2024 respectively [1] - Adjusted net profits for the same years are projected to be 81 million RMB, 235 million RMB, and 913 million RMB [1] - The gross margin has remained stable between 7.5% and 7.6%, while the net profit margin has improved from 1.7% to 2.1% [1] Brand and Market Position - Mingming Hen Mang operates two brands: "Snacks Very Busy" and "Zhao Yiming Snacks," which merged in November 2023 [1] - The company has a total of 14,394 stores across 28 provinces and all tiered cities in China, with approximately 58% located in county and town areas [1] Membership and Customer Engagement - By the end of 2024, the company expects to have 1.2 billion members, with 1.03 billion active buyers and a repurchase rate of 75% [2] - The company offers a diverse product range with 3,380 SKUs, 25% of which are customized products, and over 40% of products are sold in bulk [2] Market Potential - The retail market for leisure food and beverages in China reached 3.7 trillion RMB in 2024, with projections to grow to 4.9 trillion RMB by 2029 [2] - The company plans to use IPO proceeds primarily for store expansion, supply chain optimization, and digital infrastructure development [2]