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从区域深耕到港股冲刺,八马上市以加盟模式开辟茶业增长新赛道
Sou Hu Cai Jing·2025-05-24 04:16

Core Insights - Eight Horses Tea has submitted a listing application to the Hong Kong Stock Exchange, drawing significant attention to the Chinese tea industry and highlighting its unique franchise model as a key focus in the prospectus [1] Group 1: Franchise Model and Market Position - The franchise model implemented by Eight Horses Tea since 2007 has become a crucial pillar of its sales network, addressing the long-standing issues of low concentration and fragmentation in the Chinese tea market [3] - As of now, Eight Horses Tea operates over 3,500 offline stores across all provinces in mainland China, enhancing its bargaining power and operational efficiency through centralized procurement and logistics [3] - The company has been recognized as the "No. 1 in National Sales of High-end Chinese Tea" by Sullivan for 2024, reflecting its growing market share [3] Group 2: Support for Franchisees - Eight Horses Tea maintains a high-end brand positioning and implements a comprehensive support strategy for franchisees, including rigorous selection processes and extensive training programs [4] - The company has established 11 training bases in eight cities, focusing on various key areas such as consumer insights, product knowledge, and sales techniques to enhance franchisee capabilities [4] - In supply chain management, Eight Horses Tea collaborates with quality tea farmers and has modernized production facilities to ensure product quality and efficient logistics [4] Group 3: Performance Metrics - The prospectus indicates a stable and strong franchisee network, with the number of franchisees achieving average annual sales exceeding 2 million increasing from 80 in 2022 to 87 in 2023 [5] - As of September 30, 2024, 54.4% of franchisees have been in partnership with Eight Horses Tea for over three years, significantly above the industry average [5] - The average number of stores opened by each franchisee has reached 2.6, with some franchisees operating over 100 stores, showcasing the attractiveness of the franchise model [5] Group 4: Future Prospects - If Eight Horses Tea successfully lists on the capital market, it will leverage enhanced funding and resources to further upgrade its franchise model and elevate its brand, potentially driving more opportunities for the Chinese tea industry [7]