获腾讯、淡马锡、贝莱德等基石加持！鸣鸣很忙开启全球发售，将于1月28日上市

Core Viewpoint - The company "Mingming Hen Mang" is set to launch its global offering and is expected to list on the Hong Kong Stock Exchange on January 28, aiming to raise approximately HKD 3.124 billion for various strategic initiatives [1] Group 1: Company Overview - "Mingming Hen Mang" is a discount snack chain formed from the strategic merger of "Mingming Hen Mang" and "Zhao Yiming Snacks" in November 2023, focusing on self-service shopping for leisure foods [2] - The company operates with a low-cost strategy by collaborating directly with manufacturers or sourcing suppliers, eliminating intermediaries [2] - The product range includes baked goods, snacks, beverages, and various other leisure food categories [2] Group 2: Market Position - According to Frost & Sullivan, "Mingming Hen Mang" is the largest chain retailer in China's leisure food and beverage market with a market share of 1.5% [2] - The company ranks among the top four food and beverage chain retailers in China, holding a market share of 0.8% [2] Group 3: Financial Performance - From 2022 to 2024, the company achieved revenues of CNY 4.28 billion, CNY 10.29 billion, and CNY 39.34 billion, with a compound annual growth rate (CAGR) of 203.0% [3] - For the first three quarters of 2025, the revenue reached CNY 46.37 billion, reflecting a year-on-year growth of 75.2% [3] - Net profits for the same periods were CNY 71.65 million, CNY 220 million, and CNY 830 million, with a CAGR of 240.2% [3] - The net profit for the first three quarters of 2025 was CNY 1.56 billion, showing a year-on-year increase of 218.9% [3] Group 4: Funding and Investment - The company has completed six rounds of financing from 2021 to 2025, raising over CNY 2 billion from various investors including Sequoia China and others [3] - Following a financing round with Sequoia China, the post-money valuation of the company reached CNY 10.878 billion [3]