3个985院校学霸，卖面条卖了11.54亿元，还要冲刺上市

Core Viewpoint - Guangzhou Yujian Xiaomian Restaurant Co., Ltd. has submitted an application for an IPO on the Hong Kong Stock Exchange, potentially becoming the first publicly listed Chinese noodle restaurant [1] Company Overview - Yujian Xiaomian has opened 380 stores in just three years, turning a net loss of 35.97 million yuan in 2022 into a net profit of 60.7 million yuan in 2023, with projected revenue of 1.154 billion yuan in 2024 [1] - The founders, all graduates from 985 universities, have no professional culinary background, which adds a unique narrative to the brand [3][5] Business Model and Strategy - The founders adopted a scientific approach to restaurant management, utilizing precise measurements and laboratory equipment to standardize cooking processes [9][11] - The brand has successfully localized the taste of Chongqing noodles to appeal to a broader audience, maintaining a price point of 36 yuan per bowl [11] Funding and Expansion - Yujian Xiaomian has completed eight rounds of financing, raising approximately 200 million yuan, which has facilitated rapid expansion [13] - The company plans to open 120-150 new restaurants in 2025 and 150-180 in 2026, with a total of 64 additional locations currently in preparation [15] Financial Health - As of the end of 2024, the company reported short-term loans of 50 million yuan and a net current liability of 242 million yuan, with a high debt-to-asset ratio of 89.86% [21] - Despite financial pressures, the company distributed a sudden dividend of 14.7 million yuan in March [23] Challenges and Risks - Yujian Xiaomian has faced multiple complaints regarding food safety, with a total of 189 complaints and a low resolution rate of less than 30% [16][17] - The company has been criticized for poor service quality and has been penalized for not maintaining food safety standards [17][20]