Anjoy food(SH:603345) Ge Long Hui·2025-06-24 22:57Group 1 - The company, Anjoy Foods, plans to globally offer 39.9947 million H-shares, with 3.9995 million shares available in Hong Kong and 35.9952 million shares for international offering, with the subscription period from June 25 to June 30, 2025, and expected pricing on July 2, 2025 [1] - Anjoy Foods is the leading company in China's frozen food industry, holding a market share of 6.6% based on 2024 revenue, and ranks first in the frozen prepared food market with a market share of 13.8%, which is approximately five times that of the second-ranked competitor [1] - The company has established cornerstone investment agreements, with cornerstone investors agreeing to subscribe for shares totaling $90 million (or 706 million HKD), which translates to approximately 10.7037 million shares at the maximum offer price of 66.00 HKD per share [2] Group 2 - Assuming no exercise of the over-allotment option and a maximum offer price of 66.00 HKD per share, the company estimates net proceeds from the global offering to be approximately 2.496 billion HKD [3] - The company plans to allocate the proceeds from the global offering as follows: approximately 35% for expanding sales and distribution networks, 35% for enhancing procurement capabilities and optimizing the supply chain, 15% for business operation digitization, 5% for product development and technological innovation, and 10% for working capital and general corporate purposes [3]