中国最大的中式快餐品牌老乡鸡三次递表港交所 拥有1658家门店

Core Viewpoint LXJ International Holdings Limited, known as "Laoxiangji," has submitted a listing application to the Hong Kong Stock Exchange, aiming to capitalize on its position as the largest Chinese fast-food brand with a significant store network across China [1][3]. Company Overview - Laoxiangji is the largest Chinese fast-food brand, holding a 0.9% market share in the Chinese Chinese fast-food industry as of 2024, and ranks eighth in the overall fast-food market with a 0.5% share [3]. - The company operates a "direct + franchise" store network, with 1,658 stores across 61 cities in China as of August 31, 2025, including 925 direct-operated stores and 733 franchise stores [3][4]. - Laoxiangji has served over 206 million customers in the eight months ending August 31, 2025, catering to various dining needs [3]. Achievements - Laoxiangji is one of the first Chinese fast-food companies to implement standardization across its entire value chain, establishing proprietary standardization manuals before opening its first restaurant [4]. - It is the only Chinese fast-food company to have a comprehensive traceability system for its supply chain, enhancing transparency and food safety [4]. - The company leads in average daily sales per store and turnover rate among the top five Chinese fast-food companies, with an average daily sales of RMB 15,100 and a turnover rate of 4.4 in 2024 [4]. Digital Transformation - Laoxiangji began utilizing digital tools in the 2010s and established an internal IT center and a digital growth department in 2016 and 2020, respectively [5]. Financial Performance - The company's revenue for the years ending August 31 for 2022, 2023, 2024, and 2025 was approximately RMB 4.53 billion, RMB 5.65 billion, RMB 6.29 billion, and RMB 4.58 billion, respectively [7]. - The net profit for the same periods was approximately RMB 252 million, RMB 375 million, RMB 409 million, and RMB 371 million [8]. - The gross profit margins for these years were 20.3%, 23.3%, 22.8%, and 24.6%, respectively [10]. Industry Overview - The Chinese fast-food market is divided into three categories: Chinese fast food, Western fast food, and others. Chinese fast food accounted for 60.9% of the fast-food market and 14.5% of the overall dining market in 2024, growing faster than the overall fast-food market [11]. - The market size of Chinese fast food increased from RMB 618.4 billion in 2022 to RMB 753.2 billion in 2023, with a projected growth to RMB 1,205.8 billion by 2029, reflecting a compound annual growth rate of 8.3% from 2024 to 2029 [14].