Core Viewpoint - The recent IPO of Hu Shang A Yi has generated significant interest in the Hong Kong stock market, with a subscription multiple of 3447.33 times and a subscription amount exceeding 94 billion HKD, indicating strong demand for tea beverage stocks [1][2]. Company Overview - Hu Shang A Yi is positioned as the fourth largest fresh tea beverage network in China, focusing on expanding into lower-tier cities through a franchise model [2][3]. - The company plans to utilize the funds raised from the IPO for digital upgrades, product development, and supply chain enhancement [2]. Growth Metrics - The number of Hu Shang A Yi stores has rapidly increased from 5,307 in 2022 to 7,789 in 2023, with a target of reaching 9,176 stores by the end of 2024, reflecting an annual expansion rate of approximately 2,000 stores [2][3]. - The franchise model has been a key driver of growth, with franchise store numbers increasing from 5,244 in 2022 to 7,756 in 2023, marking a growth rate of 47.9% in 2023 [3]. Financial Performance - The company's Gross Merchandise Volume (GMV) has shown robust growth, increasing from 6.068 billion CNY in 2022 to 9.732 billion CNY in 2023, representing year-on-year growth rates of 45.8% and 60.4%, respectively [3]. - Revenue figures for Hu Shang A Yi from 2022 to 2024 are 2.199 billion CNY, 3.348 billion CNY, and 3.285 billion CNY, while adjusted net profits are 154 million CNY, 416 million CNY, and 418 million CNY, indicating a strong financial trajectory [3]. Investment Interest - The IPO attracted two cornerstone investors, who collectively subscribed to approximately 9.2155 million USD of the offering, with significant contributions from Yingfeng Holdings and Huabao Shares [3].
孖展申购倍数超3447倍！沪上阿姨赴港上市受追捧