Core Viewpoint - The company "Yujian Xiaomian" is a leading brand in the Chinese Sichuan-Chongqing flavor noodle restaurant sector, officially launching its IPO on the Hong Kong Stock Exchange with plans to issue approximately 97.36 million shares at a price range of HKD 5.64 to HKD 7.04 per share, aiming to raise significant capital for future expansion [3][4]. Company Overview - Founded in 2014, Yujian Xiaomian operates a modern Chinese noodle restaurant business centered around Chongqing noodles, with a network of 465 restaurants across 22 cities in mainland China and Hong Kong [4][5]. - The company has established a diversified business model that includes both direct operation and franchising, focusing on a wide range of consumer demographics and dining occasions [4][7]. Financial Analysis - Yujian Xiaomian has demonstrated strong financial growth, with revenue increasing from RMB 418 million in 2022 to RMB 1.154 billion in 2024, reflecting a compound annual growth rate (CAGR) of 66.2% [9][10]. - The company achieved profitability in 2023 after a loss in 2022, with net profit rising to RMB 607 million in 2024 and further increasing to RMB 418 million in the first half of 2025, marking a year-on-year growth of 95.8% [9][10]. Competitive Advantages - The company has built a highly standardized operational model that combines traditional charm with modern management techniques, ensuring consistent product quality and service across its locations [11][12]. - Yujian Xiaomian has established strong brand recognition and loyalty, supported by a robust supply chain with approximately 460 suppliers, which helps maintain quality and reduce costs [12]. Industry Outlook - The Chinese noodle restaurant market is experiencing rapid growth, with total transaction value projected to increase from RMB 183.3 billion in 2020 to RMB 296.2 billion in 2024, representing a CAGR of 12.7% [13][14]. - The Sichuan-Chongqing flavor noodle segment is expected to grow even faster, with a projected CAGR of 13.2% from 2020 to 2029, providing significant market opportunities for Yujian Xiaomian [13][14]. Future Growth Potential - The company plans to open 150-230 new restaurants from 2026 to 2028, enhancing market penetration and expanding into new areas, with 115 new restaurants already in preparation [15][16]. - Continued improvements in operational efficiency and the expansion of the franchising model are expected to drive future growth and reduce expansion costs [15][16].
遇见小面开启招股：川渝风味标杆，高瓴资本、海底捞参与基石投资