绿茶餐厅开启招股：拟5月16日上市 募资7亿 股东合众集团将套现3亿

Core Viewpoint - Green Tea Restaurant (stock code: "6831") has initiated its IPO process, aiming for a listing on the Hong Kong Stock Exchange on May 16, 2025, with a share price set at HKD 7.19, targeting a net fundraising of HKD 746 million [2][4]. Fundraising and Use of Proceeds - The company plans to allocate HKD 472 million for expanding its restaurant network, HKD 200 million for establishing a central food processing facility, HKD 40.3 million for upgrading IT systems, and HKD 37.3 million for general corporate purposes [2]. - Eight cornerstone investors have committed a total of USD 87.33 million (approximately HKD 673 million) to the IPO [2][3]. Financial Performance - Green Tea Restaurant reported revenues of RMB 2.375 billion, RMB 3.589 billion, and RMB 3.838 billion for the years 2022, 2023, and 2024, respectively, with net profits of RMB 114 million, RMB 296 million, and RMB 350 million during the same periods [6][7]. - The adjusted net profit for 2024 is projected to be RMB 361 million, with an adjusted net profit margin of 9.4% [7]. Restaurant Operations - As of December 31, 2024, Green Tea Restaurant operates 465 locations, having opened 120 new restaurants and closed 15 during the year [11]. - The same-store sales decreased by 10.3% in 2024 compared to the previous year, with declines across various regions [12]. Shareholder Structure - Prior to the IPO, the controlling shareholders, Wang Qinsong and Lu Changmei, held 65.8% of the shares. Post-IPO, their stake will reduce to 54.29%, while Partners Gourmet will hold 15.76% [18][20].