出自广东佛山，袁记云饺冲刺上市：全国门店超4200家，“手工现包现煮”年收25亿元

Core Viewpoint - Yuanji Yunjiao, a fast-growing Chinese dumpling chain, has submitted its IPO application to the Hong Kong Stock Exchange, aiming to expand its global footprint after achieving rapid growth in just under nine years [1][2]. Group 1: Company Growth and Expansion - Founded in April 2017 in Foshan, Yuanji Yunjiao quickly established itself in the Chinese fast-food market, focusing on handmade dumplings with a high cost-performance ratio [2]. - By 2018, the company had over 100 stores and established a factory in Suzhou, laying the groundwork for future expansion [2]. - The brand saw explosive growth in 2021, surpassing 1,000 stores and transitioning from a regional to a national chain [2]. - As of September 30, 2025, the total number of stores reached 4,266, with a significant presence in both domestic and international markets [6]. Group 2: Business Model and Brand Strategy - Yuanji Yunjiao operates under a dual-brand strategy, combining "Yuanji Yunjiao" for dining and "Yuanji Weixiang" for retail, creating an integrated dining and retail business model [4]. - The company primarily uses a franchise model for expansion, with over 95% of its stores being franchises as of September 30, 2025 [4][6]. - The brand offers three standardized store types to cover various consumer scenarios, including dine-in, takeout, and delivery [4]. Group 3: Financial Performance - The company reported revenues of 2.026 billion yuan in 2023, with a projected increase to 2.561 billion yuan in 2024, reflecting a year-on-year growth of 26.4% [6]. - For the first three quarters of 2025, revenues reached 1.982 billion yuan, showing an 11.0% year-on-year increase [6]. Group 4: Market Position and Competitive Landscape - As of September 30, 2025, Yuanji Yunjiao is the largest Chinese fast-food chain by store count, and the leading dumpling and wonton brand in China based on GMV [5]. - The company has expanded to over 200 cities and entered international markets such as Singapore and Thailand [3]. Group 5: Future Plans and Funding Utilization - The IPO proceeds will be allocated to digitalization, overseas expansion, supply chain upgrades, brand development, and general corporate purposes [10]. - The company aims to focus on Southeast Asia for its international expansion, leveraging the region's cultural affinity for Chinese cuisine [11].