调味品商“幺麻子”再启IPO 去年营收同比增14.69%

Core Viewpoint - Yao Mazi Food Co., Ltd. is planning to list on the Beijing Stock Exchange after failing to complete its IPO on the Shenzhen Stock Exchange, raising concerns about the company's internal control and compliance due to regulatory scrutiny following a disclosure omission [1][3]. Group 1: Company Background and IPO Attempts - Yao Mazi specializes in the research, production, and sales of seasoning oils, compound seasonings, and local specialty foods, with key figures being Zhao Yuejun, Gong Wanfen, Zhao Qi, and Zhao Lin, who are family members [2]. - The company initially submitted materials for an IPO on the ChiNext board in September 2020 but later shifted to the Shenzhen Stock Exchange, where its application was accepted in March 2023 and subsequently terminated in December 2023 due to strategic adjustments [2]. Group 2: Regulatory Issues and Compliance - In August 2024, the Shenzhen Stock Exchange issued a regulatory letter to Yao Mazi and Zhao Qi for failing to disclose related party transactions, which included a transfer of 800,000 yuan to Peng Zhaoxiang without proper notification [3]. - The regulatory measures also extended to the IPO intermediaries, including China International Capital Corporation and Tianzhi International Accounting Firm, which received written warnings for their roles in the oversight [3]. Group 3: Financial Performance and Future Prospects - Yao Mazi's financial performance has improved post-pandemic, with revenues of 450 million yuan, 545 million yuan, and 625 million yuan from 2022 to 2024, and net profits of approximately 81.16 million yuan, 98.78 million yuan, and 157 million yuan respectively [6]. - The company reported a year-on-year revenue growth of 14.69% in 2024, attributed to a recovery in consumer demand in the catering industry [6]. - The company has entered the advisory phase for its Beijing Stock Exchange listing, with CICC as the advisory firm, but concerns remain regarding the impact of previous regulatory issues on this new IPO attempt [4][5].