POP MART(HK:09992) Guan Cha Zhe Wang·2025-06-25 06:59Core Insights - The founder of Mixue Ice City, Zhang Hongchao and Zhang Hongfu, have become the new richest individuals in Henan with a net worth of 117.94 billion yuan, surpassing the previous top billionaire, Qin Yinglin of Muyuan Foods [1][2] - Mixue Ice City has achieved significant growth, with a total of 46,479 stores globally as of December 31, 2024, marking an increase of 8,914 stores compared to the same period in 2023 [2] - The company went public on the Hong Kong Stock Exchange on March 3, 2024, with an initial market capitalization of 98.79 billion HKD, which has since risen to over 201.2 billion HKD [2] Company Development - The entrepreneurial journey of Mixue Ice City began in 1997 when Zhang Hongchao started a "cold ice" stall with 3,000 yuan saved by his grandmother [1] - The first fresh ice cream store was established in 2007, and the brothers divided responsibilities, with Zhang Hongchao focusing on supply chain and Zhang Hongfu on brand expansion [2] - The company has surpassed Starbucks in terms of the number of beverage stores globally, indicating its leading position in the market [2] Financial Performance - The stock price of Mixue Ice City surged by 29.38% on its listing day, reflecting strong market interest and confidence in its business model [2] - The net worth of the Zhang brothers increased from approximately 85 billion HKD to 117.94 billion yuan within three months post-IPO, showcasing their rapid financial ascent [2]