鸣鸣很忙获赴港上市备案通知书：中国最大的休闲食品饮料连锁零售商

Core Viewpoint - The company "Mingming Hen Mang" has received approval for its overseas listing on the Hong Kong Stock Exchange, marking a significant milestone as it aims to become the first in the industry to exceed 20,000 stores by September 2025 [2][3]. Group 1: Company Overview - "Mingming Hen Mang" is recognized as China's largest leisure food and beverage retail chain, operating under the dual brands "Snacks Hen Mang" and "Zhao Yiming Snacks" [2]. - The company has achieved a retail sales volume (GMV) of 41.1 billion RMB in the first half of this year, with revenue of 28.12 billion RMB and an adjusted net profit of 1.034 billion RMB [2]. - As of now, the total number of stores has reached 16,783, covering 28 provinces, 1,327 counties, and all tiered cities across the country [2]. Group 2: Financial Performance - As of June 30, 2025, the company reported a cash balance exceeding 2.394 billion RMB and a net value of current assets rising to 2.827 billion RMB, indicating strong liquidity and efficient asset turnover [3]. - The net operating cash flow for the first half of 2025 was 1.395 billion RMB, showcasing robust cash generation capabilities [3]. - The inventory turnover days were only 11.7 days, significantly better than the industry average, highlighting effective supply chain management [3]. Group 3: Future Plans and Investments - The funds raised from the IPO will primarily be used to enhance supply chain capabilities, improve product development, upgrade store networks, empower franchisees, and invest in brand building and digital capabilities [3]. - The company has received investments from notable institutions such as Gao Rong Chuang Tou, Sequoia China, and Black Ant Capital, among others [3].