五芳斋冲击港股IPO：老字号品牌国际化的战略突围与价值重构

Core Viewpoint - Wufangzhai has officially initiated preparations for its H-share listing to accelerate its internationalization strategy and enhance its overseas business layout, aiming to improve its international brand image and diversify its capital operation platform [1][2] Group 1: H-Share Listing and Internationalization - The H-share listing plan represents a deep practice of value reconstruction for the time-honored brand, with three core objectives: accelerating internationalization, enhancing brand image, and creating a diversified capital operation platform [2] - By listing on the H-share market, Wufangzhai can leverage international capital markets for funding support for overseas production bases, R&D centers, and brand marketing networks [2] - The company has a history of internationalization, having started product exports in 1995 and establishing a preliminary overseas sales network, with plans to expand into new markets by 2025 [3] Group 2: Capital and Industry Integration - If successful in its H-share listing, Wufangzhai could establish a complete ecosystem of R&D, production, marketing, and capital, with a projected R&D investment of 85 million yuan in the first half of 2025, a 15% increase year-on-year [4] - Collaborations with industry capital, such as with Shuanghui Development and Ningbo Fuzhu, are expected to create synergies in supply chain integration and market expansion [4] Group 3: Cultural and Global Innovation - The listing marks not just capital expansion but also a significant dialogue on cultural heritage and global innovation, as the brand transitions from a cultural symbol to a capital-driven entity [5] - The globalization of time-honored brands has evolved beyond simple trade to become a means of cultural value dissemination, with examples like Zhang Xiaoqin successfully entering Southeast Asian markets through localized operations [6]