赵一鸣零食母公司，2年营收翻8倍，冲刺港股量贩零食第一股

Core Viewpoint - The article highlights the significant milestone of Hunan Mingming Hen Mang Commercial Chain Co., Ltd. (referred to as "Mingming Hen Mang") as it approaches its listing on the Hong Kong Stock Exchange, marking a pivotal moment in the snack retail sector in China. The company is set to become the first public snack retail brand in Hong Kong, with a projected GMV of 55.5 billion yuan in 2024, positioning it as a leader in the industry [1][4]. Group 1: Company Overview - Mingming Hen Mang has integrated two brands, "Snacks Are Busy" and "Zhao Yiming Snacks," creating a vast retail network with over 19,000 stores across 28 provinces in China [1][6]. - The company achieved a remarkable revenue growth from 4.286 billion yuan in 2022 to 39.344 billion yuan in 2024, representing an 860% increase, with a compound annual growth rate (CAGR) of 203% from 2022 to 2024 [7]. - By September 30, 2025, the total number of stores reached 19,517, with 59% located in county towns and rural areas, achieving a market penetration rate of 66% in these regions [6][7]. Group 2: Market Dynamics - The snack retail sector is experiencing explosive growth, driven by the demand for high-quality and diverse snacks in lower-tier markets, which Mingming Hen Mang effectively addresses with its competitive pricing strategy [4][6]. - The company plans to utilize the funds raised from its IPO to enhance supply chain capabilities, product development, store network upgrades, and digital transformation, which are crucial for maintaining its competitive edge in a rapidly evolving market [8]. - The industry is shifting from rapid expansion to refined operations, with increased competition from both traditional brands and regional players, leading to intensified price wars and homogenization [8][9]. Group 3: Future Outlook - The Chinese retail market for leisure food and beverages is projected to grow from 3.7 trillion yuan in 2024 to 4.9 trillion yuan by 2029, with a CAGR of 5.8%, indicating a robust growth trajectory for the sector [9]. - As a leading player, Mingming Hen Mang's capital market entry is expected to not only fuel its growth but also set a benchmark for the standardized and high-quality development of the snack retail industry [9].