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八马茶业更新上市申请书 为中国最大的高端茶企
Sou Hu Wang·2025-09-05 06:53

Core Viewpoint - Baima Tea Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, with Huatai International, Agricultural Bank of China International, and Tianfeng International as joint sponsors [1] Company Overview - Baima Tea is a leader in the high-end tea market in China, ranking first in sales volume in the high-end Chinese tea sector for 2024 and recognized as the most well-known tea brand in China [3] - The company operates a comprehensive product range covering six major tea categories, including Oolong, black, red, green, white, and yellow teas, as well as tea-related products [6] Market Position - As of 2024, Baima Tea holds the largest number of tea chain stores in China and ranks first in sales revenue in the high-end tea market, Oolong tea, and black tea markets [3][4] - The company's market share in the high-end tea market increased from approximately 1.1% in 2020 to about 1.7% in 2024 [4] Industry Growth - The overall Chinese tea market is projected to grow from approximately 288.9 billion RMB in 2020 to about 325.8 billion RMB in 2024, with a compound annual growth rate (CAGR) of around 3.0% [3] - The high-end tea market is expected to grow from approximately 89 billion RMB in 2020 to about 103.1 billion RMB in 2024, with a CAGR of approximately 3.7% [4] Sales Channels - The high-end tea market heavily relies on offline customer experiences, with offline sales expected to increase from approximately 83.8 billion RMB in 2020 to about 97.5 billion RMB in 2024, reflecting a CAGR of around 3.9% [9] - The offline high-end tea segment is projected to reach approximately 128.7 billion RMB by 2029, with a CAGR of about 5.7% from 2024 to 2029 [9] Production and Technology - Baima Tea has established two tea processing bases in China, with advanced automated production lines, including a seventh-generation intelligent production line in Wuyishan [9] - The company has a strong focus on brand value, product development, and supply chain management, contributing to its leading market position [5] IPO Fund Utilization - The funds raised from the IPO will be used for expanding production bases, enhancing brand value, expanding the product portfolio, and increasing the number of offline stores [10]