老乡鸡继续推进港交所上市进程：门店数增至1777家，8个月营收超45亿元

Core Viewpoint - LXJ International Holdings Limited, known as "Laoxiangji," is advancing its IPO process on the Hong Kong Stock Exchange, with a focus on expanding its integrated supply chain and store network while enhancing digital capabilities and brand marketing [2][6]. Group 1: Company Overview - Laoxiangji opened its first restaurant in Hefei, Anhui in 2003 and has since developed a "direct + franchise" store network, with 1,658 stores across 61 cities as of August 31, 2025, projected to increase to 1,777 by December 31, 2025 [2]. - The company is recognized as one of the first standardized Chinese fast-food companies in all core operational aspects [2]. Group 2: Market Position - Laoxiangji ranks first in the Chinese Chinese fast-food industry with a market share of 0.9% based on total transaction volume in 2024, and ranks eighth in the overall fast-food industry with a 0.5% market share [2]. - In the East China region, Laoxiangji holds the largest market share of 2.2% in the Chinese Chinese fast-food sector, significantly higher than the second-largest competitor [3]. Group 3: Financial Performance - Revenue figures for Laoxiangji from 2022 to 2024 were 4.528 billion, 5.651 billion, and 6.288 billion yuan, respectively. For the first eight months of 2025, revenue increased by 10.9% to 4.578 billion yuan compared to the same period in 2024 [5]. - Adjusted net profits for the same period were 268 million, 403 million, and 439 million yuan, with a 13.2% increase in the first eight months of 2025 to 394 million yuan [5]. Group 4: Supply Chain and Technology - Laoxiangji is the only major Chinese fast-food company with a fully integrated supply chain, including chicken farming, central kitchens, and restaurant services, and is the first to implement a comprehensive traceability system [4]. - The company has established three chicken farms and two automated central kitchens in Anhui, along with eight distribution centers nationwide to ensure fresh ingredient delivery [4]. Group 5: Membership and Customer Engagement - As of August 31, 2025, Laoxiangji has approximately 31.4 million registered members, with 13 million active members and 600,000 paying members, leading the Chinese Chinese fast-food sector in membership size [5]. - Active members place an average of 8.1 orders, while paying members have a monthly purchase frequency of 5.8 times [5].