Core Viewpoint - Junlebao Dairy Group Co., Ltd. has submitted its application for a mainboard listing on the Hong Kong Stock Exchange, aiming to raise funds primarily for factory construction, capacity expansion, brand marketing, and R&D innovation [1] Financial Performance - Junlebao's total revenue is projected to grow from RMB 17.5 billion in 2023 to RMB 19.8 billion in 2024, with RMB 15.1 billion recorded in the first nine months of 2025, indicating steady revenue growth [1] - Adjusted net profit is expected to increase from RMB 600 million in 2023 to RMB 1.16 billion in 2024, reaching RMB 940 million in the first nine months of 2025 [1] - Adjusted net profit margin is forecasted to rise from 3.4% in 2023 to 5.9% in 2024, further increasing to 6.2% in the first nine months of 2025, reflecting improved profitability [1] Market Presence - Junlebao has established a nationwide sales network covering all 31 provincial-level administrative regions and approximately 2,200 districts and counties, achieving rapid growth in high-consumption markets such as East China, South China, and Central China [2] - The company has strengthened its market presence in the Northwest and Southwest regions through acquisitions of regional brands like "Yin Qiao" and "Lai Si Er" [2] - Junlebao's products, including "Yue Xian Huo," have successfully entered the Hong Kong and Macau markets, with plans to expand into Southeast Asia, laying a solid foundation for internationalization [2] Production and Supply Chain - As of September 30, 2025, Junlebao operates 33 modern self-owned farms and 20 dairy production facilities, with a dairy cow inventory of 192,000, ranking third in the country [2] - The group's self-sufficiency rate for milk sources is expected to reach 66% in 2024, leading among large comprehensive dairy enterprises in China [2] R&D and Innovation - R&D innovation is a key growth driver for Junlebao, which has established an industry-leading "Scientific Nutrition Research Institute" and collaborates with top research institutions and universities [3] - The R&D efforts cover various areas, including basic research, product innovation, and clinical validation, contributing to the development of successful products like "Jian Chun" and "Yue Xian Huo" [3] - The low-temperature liquid milk segment, including fresh milk and low-temperature yogurt, is the fastest-growing segment in the Chinese dairy market, with Junlebao's "Yue Xian Huo" leading the high-end fresh milk market with a market share of 24% in 2024 [3]
君乐宝递交港交所上市申请 发展进入新阶段
Zheng Quan Shi Bao Wang·2026-01-20 01:58