遇见小面港股IPO中途遭大股东甩卖？

Core Viewpoint - The company Baifu Holdings announced the sale of a 1.71% stake in a target company for a total price of 48 million yuan, indicating a strategic move to recover initial investment costs and seek new investment opportunities in the growing Chinese restaurant industry [1]. Group 1: Transaction Details - The transaction was signed on July 31, 2025, and took place on August 5, 2025 [1]. - The buyers include three individual investors, namely Du Ming, Gu Dongsheng, and Wei Chuanfa, the founder of a Chaozhou beef hotpot chain [1]. - After the transaction, Baifu Holdings will hold approximately 15.46% of the target company, which will continue to be accounted for as an associate [1]. Group 2: Financial Performance - In 2024, Baifu Holdings experienced a revenue decline of 24.4% and a net loss that expanded by 59.5%, marking a cumulative loss of 1.464 billion yuan over seven consecutive years [1]. Group 3: Industry Context - The Chinese restaurant industry is currently in a growth phase, which the company's board believes presents opportunities for investment [1]. - Baifu Holdings operates over 2,000 restaurants under its brands, including Pizzamore, Seesaw Coffee, and Xishao Ye [1]. Group 4: Related Company Developments - Baifu Holdings' partial divestment allows it to lock in profits while maintaining its position as the largest external shareholder in the company "Yujian Xiaomian," which has an estimated valuation of approximately 2.8 billion yuan [2]. - "Yujian Xiaomian" has submitted its prospectus to the Hong Kong Stock Exchange, reporting a revenue of 1.154 billion yuan and a net profit of 60.7 million yuan for 2024 [2]. - The company has faced additional scrutiny from the China Securities Regulatory Commission regarding various operational aspects prior to its IPO [2].