Sichuan Teway Food (SH:603317) 中国基金报·2025-08-21 01:45Core Viewpoint - The article discusses the recent trend of A-share food and beverage companies, including Tianwei Foods, pursuing listings in Hong Kong, indicating a significant shift towards internationalization and capital optimization in the industry [1][3][11]. Group 1: Company Specifics - Tianwei Foods announced plans to issue H-shares and apply for listing on the Hong Kong Stock Exchange, aiming to enhance its international strategy and brand recognition [1][5]. - The company is a leading producer of compound condiments in China, with its core brands "Dahongpao" and "Haorenjia" holding significant market share in hot pot and Chinese cuisine seasonings [5][6]. - Tianwei Foods has experienced steady revenue growth, with projected revenues of 2.691 billion, 3.149 billion, and 3.476 billion yuan for 2022, 2023, and 2024 respectively, and net profits of 342 million, 457 million, and 625 million yuan for the same years [6]. Group 2: Industry Trends - The trend of A-share food and beverage companies listing in Hong Kong is gaining momentum, with notable companies like Haitian Flavoring and Anjuke Foods already successfully listed [3][11]. - The industry is transitioning from rapid growth to a phase of "squeezed growth," where companies must innovate and expand internationally to capture market share [11][12]. - The Hong Kong market offers a more favorable listing environment compared to A-shares, with more inclusive rules and predictable processes, making it an attractive option for companies seeking to enhance their international presence [11][12].