Core Insights - Wancheng Group, originally focused on edible mushrooms, plans to enter the Hong Kong stock market aiming to become the "first stock of bulk snacks" in China [1][3] - The company has successfully expanded its snack brand "Hao Xiang Lai," increasing its store count from under 100 to approximately 16,000 [3][4] - Wancheng Group's revenue reached 32.3 billion yuan in 2024, a year-on-year increase of 248%, with a net profit surge of 503 times in the first half of 2025 [3] Company Overview - Founded in 2011 by Wang Jiankun and his family, Wancheng Group initially gained recognition by supplying high-quality mushrooms to major retailers like Walmart [1] - The company transitioned into the bulk snack market in response to new consumer trends, launching the snack brand "Hao Xiang Lai" in 2022 [1][3] - Following a series of acquisitions, Wancheng Group integrated several well-known snack brands under the Hao Xiang Lai umbrella [1] Market Position - Wancheng Group has become one of the largest listed companies in China's bulk snack market, earning the title of "King of Snacks" [3] - The company's strong supply chain management, unique brand positioning, and precise market targeting have allowed it to thrive amid competition from supermarkets and e-commerce [4]
从蘑菇大王到零食之王，万辰集团冲刺港股IPO