Core Viewpoint - The new tea beverage company, Hu Shang A Yi, officially listed on the Hong Kong Stock Exchange, becoming the fifth new tea beverage company to do so, with a strong market response reflected in its opening price and subscription demand [1] Group 1: Financial Performance - Hu Shang A Yi achieved revenue of 2.199 billion yuan, 3.348 billion yuan, and 3.285 billion yuan for the years 2022, 2023, and 2024 respectively [1] - The adjusted net profit for the same years was 154 million yuan, 416 million yuan, and 418 million yuan, indicating stable operations [1] - The company's GMV is projected to grow to 10.736 billion yuan by 2024, with registered WeChat mini-program members reaching 115 million and an average quarterly active member count exceeding 17.6 million [1] Group 2: Supply Chain and Store Network - As of December 31, 2024, Hu Shang A Yi's supply chain network includes 12 major logistics bases, 4 equipment warehouses, 8 fresh agricultural product warehouses, and 15 front-line cold chain warehouses [2] - The number of franchisees increased from 3,260 in 2022 to 4,576 in 2023, and is expected to reach 5,455 in 2024, with 30% of franchisees operating more than one store [2] - The total number of stores reached 9,176, covering all four direct-controlled municipalities and over 300 cities across 22 provinces, with 50.4% located in third-tier cities and below [2] Group 3: Investment and Future Plans - Prior to the IPO, Hu Shang A Yi received backing from several investment institutions, including Jia Yu Capital and Jin Yi Capital, with significant investments made since 2020 [3] - The company plans to use the funds raised from the IPO to enhance digital capabilities, develop new products, upgrade equipment, strengthen supply chain capabilities, expand the store network, invest in marketing activities, and supplement working capital [3] - Hu Shang A Yi is also looking to expand into overseas markets, with plans to open stores in Malaysia, the Philippines, and North America, promoting Eastern modern tea culture [3]
沪上阿姨登陆港交所：布局下沉市场，商品交易总额超百亿