鸣鸣很忙获上市备案通知书：中国最大休闲食品饮料连锁零售商

Core Viewpoint - The company, Hunan Mingming Hen Mang Commercial Chain Co., Ltd., is set to go public in Hong Kong, having received the necessary approval from the China Securities Regulatory Commission for its overseas issuance and listing [2]. Group 1: Company Overview - Mingming Hen Mang is the largest leisure food and beverage retail chain in China, operating under the dual brands "Snacks Are Busy" 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 in China [2]. Group 2: Financial Performance - As of June 30, 2025, the company reported a cash balance exceeding 2.394 billion RMB and net current assets of 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: Investment and Future Plans - The company has attracted investments from notable firms such as Gao Rong Chuang Tou, Sequoia China, Black Ant Capital, Wuyuan Capital, and Qicheng Capital [4]. - The net proceeds from the IPO will primarily be used to enhance supply chain capabilities, improve product development, upgrade store networks, empower franchisees, build brand awareness, and enhance technological and digital capabilities [4].