三次递表港交所！这个快餐品牌用1700+家门店撑起45亿营收

Core Viewpoint - LXJ International Holdings Limited, known as "Laoxiangji," has submitted its prospectus to the Hong Kong Stock Exchange for the third time, indicating its determination to enter the capital market amid stable growth in its operations and expansion plans [1][9]. Group 1: Financial Performance - For the period from January 1 to August 31, 2025, Laoxiangji achieved a revenue of 4.578 billion yuan, representing a year-on-year growth of 10.9% [2]. - Net profit increased from 332 million yuan in the first eight months of 2024 to 371 million yuan in the same period of 2025, reflecting an 11.8% year-on-year increase [2]. - Same-store sales rose from 3.489 billion yuan in the first eight months of 2024 to 3.621 billion yuan in 2025, marking a growth of 3.8% [6]. Group 2: Store Expansion - As of the latest date, Laoxiangji operates 1,777 stores nationwide, including 969 direct-operated stores and 808 franchise stores, with plans to reach nearly 2,000 stores by 2025 [4]. - The proportion of franchise stores has increased significantly from 10.5% in 2022 to 45.5% currently, indicating a shift towards a "direct-operated + franchise" dual-drive model [5]. - Most of Laoxiangji's stores are concentrated in East China, with 1,434 stores located in provinces such as Anhui, Jiangsu, Zhejiang, and Shanghai, accounting for over 80% of total stores [4]. Group 3: Market Position and Strategy - Laoxiangji claims to be the largest Chinese fast-food brand, holding a 0.9% market share in the Chinese fast-food industry as of 2024, ranking first among Chinese rice fast-food companies [10]. - The overall market for Chinese rice fast food is projected to reach 300 billion yuan in 2025, growing at a rate of 10.2% year-on-year [9]. - The company emphasizes its standardized operations and full industry chain layout as key advantages in overcoming challenges associated with scaling in a fragmented market [13].