量贩零食行业受资本青睐 活水润泽高质量发展

Core Viewpoint - The rise of bulk snack stores in China is revolutionizing the retail landscape of the snack food industry, driven by a model that emphasizes "affordable quality" [4][6]. Group 1: Company Developments - The China Securities Regulatory Commission has approved Hunan Mingming Henbang Commercial Chain Co., Ltd.'s overseas IPO, marking a significant milestone for the largest snack and beverage retail chain in China [5]. - The company plans to issue up to 76,666,400 ordinary shares for overseas listing and convert 198,079,551 shares held by 25 shareholders from unlisted to listed status [5]. Group 2: Industry Trends - The bulk snack sector has shown explosive growth, with the number of stores increasing from approximately 2,500 at the end of 2021 to about 25,000 by the end of 2023, a tenfold increase in just two years [6]. - This growth is attributed to the expanding Chinese snack food market, where snacks have evolved from mere indulgences to integral parts of lifestyle and leisure [6]. Group 3: Impact on the Supply Chain - The emergence of bulk snack stores has significantly influenced the entire snack supply chain, becoming a crucial sales channel for snack manufacturers [7]. - Companies like Qiaqia Foods have reported that their growth in southern regions is primarily driven by sales through bulk snack stores, indicating the channel's importance for growth [7]. Group 4: Consumer Trends - There is a growing consumer preference for healthier snack options, with over 80% of consumers willing to pay a premium for high-quality snacks [8]. - Brands are focusing on reducing unhealthy ingredients and incorporating health-promoting components like probiotics and dietary fibers into their products [8]. Group 5: Future Outlook - The bulk snack industry is projected to continue expanding, with the market size expected to reach 1,237.8 billion yuan by 2027 [10]. - As the industry matures, competition will shift from price wars to a focus on supply chain efficiency, product quality, and service [11].