她开2900家生鲜店，要IPO了

Core Viewpoint - Qian Dama International Holdings Limited is preparing for an IPO on the Hong Kong Stock Exchange, aiming to capitalize on the current market conditions for consumer companies [2] Group 1: Company Background - Qian Dama was founded by siblings Feng Wei Hua and Feng Ji Sheng, with the business model focusing on selling fresh produce without overnight storage [3][4] - The company has rapidly expanded to 2,938 stores across 14 provinces and municipalities, making it the largest community fresh food chain in China [6][9] - The majority of Qian Dama's stores (98.6%) are franchise-operated, with only 40 stores being self-operated [9] Group 2: Financial Performance - As of September 2025, Qian Dama reported a GMV of 14.8 billion yuan, with a member base exceeding 28 million [7] - The company has faced challenges, with revenues remaining relatively flat at approximately 11.7 billion yuan in 2023 and 2024, and a decline of 4.2% to 8.35 billion yuan in the first nine months of 2025 compared to the previous year [10] - Qian Dama's net profit fluctuated, with recorded profits of 1.69 billion yuan in 2023, 2.88 billion yuan in 2024, and a loss of 2.88 billion yuan in the first nine months of 2025 [10] Group 3: Market Context - The fresh food retail industry in China has seen significant changes, with many competitors struggling, while giants like Hema and JD continue to thrive [11][12] - The IPO market for consumer companies in Hong Kong remains active, with numerous companies vying for attention, indicating a competitive landscape for Qian Dama [12] - The urgency for Qian Dama to proceed with its IPO is underscored by the limited window for domestic companies to access international capital markets [12]