Zhejiang Wufangzhai Industry (SH:603237) Mei Ri Shang Bao·2025-10-15 22:55Core Viewpoint - Wufangzhai, known as the "first stock of zongzi," is planning to issue H-shares and list on the Hong Kong Stock Exchange to accelerate its internationalization strategy and enhance its overseas financing capabilities [1][4]. Group 1: Company Overview - Founded in 1921, Wufangzhai is one of the first "Chinese Time-honored Brands" and was listed on the Shanghai Stock Exchange in 2022 [2]. - The company operates in two main business segments: food and catering, with its product lines including zongzi, mooncakes, and other food items [2]. Group 2: Financial Performance - Wufangzhai's revenue for 2022-2024 is projected to be 24.62 billion, 26.35 billion, and 22.51 billion respectively, showing a decline of 14.87% in 2022, an increase of 7.04% in 2023, and a decline of 14.57% in 2024 [2]. - The net profit attributable to shareholders for the same period is expected to be 1.38 billion, 1.66 billion, and 1.42 billion, with a decrease of 29.01% in 2022, an increase of 19.74% in 2023, and a decrease of 14.24% in 2024 [2]. Group 3: Recent Developments - In the first half of the year, Wufangzhai reported a slight revenue increase of 0.66% to 15.92 billion, but net profit decreased by 16.70% to 1.95 billion [3]. - The company is currently in the preparatory stage for its H-share listing, which is expected to enhance its international market presence [3][4]. Group 4: International Expansion - Wufangzhai has been actively expanding its overseas market presence, establishing companies in Singapore, France, and Japan, with plans for new stores in Singapore's Changi Airport [4]. - Despite the ongoing internationalization efforts, revenue from overseas markets remains low, accounting for only 0.4% of total revenue in the first half of the year [4].