鸣鸣很忙通过港交所聆讯，是中国最大休闲食品饮料连锁零售商

Core Insights - Hunan Mingming Hen Mang Commercial Chain Co., Ltd. is set to become the first "bulk snack" stock on the Hong Kong Stock Exchange after passing the listing hearing [1] - By 2024, Mingming Hen Mang is projected to be the largest leisure food and beverage retail chain in China based on product retail sales (GMV) [1] Group 1: Company Overview - Mingming Hen Mang operates two bulk snack brands: "Snacks Are Busy" and "Zhao Yiming Snacks" [1] - The company was formed in November 2023 through the merger of the two brands, which were established in 2017 and 2019 respectively [1] - The company employs a "bulk sales model" that focuses on supply chain restructuring, innovative product development, and creating a pleasant shopping experience [1] Group 2: Financial Performance - As of September 30, 2025, Mingming Hen Mang achieved a retail sales (GMV) of 66.1 billion yuan, representing a year-on-year growth of 74.5% [2] - The company reported a revenue of 46.371 billion yuan for the first nine months of 2025, a 75.2% increase compared to the previous year [2] - Adjusted net profit for the same period reached 1.81 billion yuan, a significant increase of 240.8% year-on-year [2] - The number of operational stores reached 19,517, covering 28 provinces across China [2] - From 2022 to 2024, the company's revenue surged from 4.286 billion yuan to 39.344 billion yuan, with a compound annual growth rate (CAGR) of 203% [2] - During the same period, adjusted net profit increased from 81 million yuan to 913 million yuan, with a CAGR of 234.6% [2]