新股消息 | 上市在即！鸣鸣很忙加盟商连续3年净增超100%

Core Viewpoint - The leading Chinese snack and beverage retail brand, Mingming Hen Mang, has successfully passed the Hong Kong Stock Exchange listing hearing, attracting significant industry attention due to its robust and sustainable expansion in the franchise model, even after surpassing 10,000 stores [1]. Franchise Growth - Mingming Hen Mang's franchise business has shown strong growth momentum, with net growth rates of franchisees reaching 142.44%, 239.74%, and 114.42% from 2022 to 2024 [4]. - In the first half and the first three quarters of 2025, the net growth rates of franchisees were 15.70% and 31.91%, respectively, indicating a steady growth trend despite the increasing scale of operations [4]. - By the end of Q3 2025, the total number of franchisees had increased to 9,552, a significant rise from 410 at the beginning of 2022, reflecting strong market recognition of the brand's business model and development potential [4]. Store Operations - The average daily order volume per store increased from 385 orders in 2022 to 458 orders in the first half of 2025, further rising to 481 orders in the first three quarters of 2025, which supports franchisee profitability and the stability of the franchise ecosystem [4]. Store Count and Growth - The number of stores has grown significantly, with self-operated stores increasing from 4 in 2022 to 23 by September 2025, while franchise stores surged from 1,898 to 19,494 in the same period [5][6]. Franchise Support System - Mingming Hen Mang has established a comprehensive support system for franchisees, emphasizing that the success of franchisees equates to the brand's success, which includes site selection, training, operations, and supply chain management, all without charging franchise fees [7][8]. - The brand provides professional site evaluation services and customized store design solutions to help franchisees optimize their operations [7]. Low Closure Rate - The brand maintains a low closure rate, with rates of 0.74%, 0.67%, and 2.60% from 2022 to 2024, and further decreasing to 0.76% and 1.08% in the first half and first three quarters of 2025, indicating a healthy franchise ecosystem [11]. - This low closure rate, combined with high net growth rates, showcases the brand's strong operational foundation and competitive advantage in the snack retail sector [11]. Future Outlook - With a solid operational foundation and forward-looking ecological layout, Mingming Hen Mang is positioned for continued quality growth and sustainable development in the competitive retail industry [12]. - The brand aims to further enhance its franchisee support system and deepen supply chain integration to achieve win-win development with franchisees, contributing positively to the sustainable growth of China's snack retail industry [12].