Core Viewpoint - Wancheng Group has submitted an application for listing on the Hong Kong Stock Exchange, aiming for a dual listing in both A-shares and H-shares, with plans to use the raised funds for expansion, product diversification, logistics efficiency, and digital infrastructure upgrades [2] Group 1: Company Overview - Wancheng Group was established in 2011, initially focusing on the industrial cultivation of edible mushrooms and has become a leading supplier in China [2] - The company entered the snack retail industry in 2022, launching the "Liu Xiaochan" brand and forming joint ventures to expand its snack business [3] Group 2: Financial Performance - Wancheng Group's total revenue is projected to grow from 9.3 billion in 2023 to 32.33 billion in 2024, representing a year-on-year increase of 247.9% [2] - The company's GMV is expected to reach 42.6 billion in 2024, with a year-on-year growth of 282% [2] - Adjusted net profit for 2024 is forecasted to be 820 million [2] Group 3: Market Position and Strategy - Wancheng Group operates 15,365 snack and beverage stores across 29 provinces, with over 99% being franchise stores [2] - The company aims to strengthen its competitive position in the Chinese snack retail industry and expand its "hard discount" business model into broader fast-moving consumer goods markets [4] Group 4: Competitor Analysis - Competitor Mingming Hen Mang plans to list on the Hong Kong Stock Exchange, with over 20,000 stores and projected revenues of 4.286 billion, 10.295 billion, and 39.344 billion for 2022, 2023, and 2024 respectively [3] - Mingming Hen Mang's adjusted net profits for the same years are 81 million, 235 million, and 913 million [3]
万辰集团谋求“A+H”上市 此前鸣鸣很忙已递交招股书