转战港股上市失败？知名深企回应

Core Viewpoint - The IPO application of Baima Tea Co., Ltd. has expired, which is a common occurrence in the capital market, and the company may reapply within three months after updating financial data [1][3]. Company Overview - Baima Tea Co., Ltd. is headquartered in Shenzhen and was established in 1998, with a product range that includes various types of tea and related products [3]. - The company's founders, Wang Wenbin and Wang Wenli, hold 25.28% and 20.38% of the shares, respectively [3]. Financial Performance - The company's revenue for 2021, 2022, and 2023 was 1.744 billion, 1.818 billion, and 2.122 billion respectively, with net profits of 163 million, 166 million, and 206 million [5]. - For the first nine months of 2024, revenue increased by 0.98% to 1.647 billion, while net profit grew by 12.6% to 208 million [5]. Store Operations - As of September 30, 2024, Baima Tea had a total of 3,498 offline stores in China, with 274 being direct-operated and 3,224 being franchise stores [5]. - The number of direct-operated stores has decreased over the past three years, while franchise stores have seen an increase [5]. Market Challenges - The company has faced challenges in its franchise model, with declining store numbers and procurement amounts [4]. - The governance structure, characterized by family ownership, and the overall market sentiment towards traditional tea brands have contributed to difficulties in the IPO process [4]. - Baima Tea's previous attempts to go public have included applications to various exchanges, all of which have faced setbacks [4].