鸣鸣很忙今日港交所挂牌上市，以“质价比”服务亿万家庭

Core Viewpoint - Hunan Mingming Hen Mang Commercial Chain Co., Ltd. officially listed on the Hong Kong Stock Exchange, marking a new starting point for the company to enhance its long-term development and provide better products and shopping experiences to consumers [2][4]. Group 1: Company Overview - Mingming Hen Mang has grown from a community store to over 20,000 outlets nationwide, becoming a staple in people's lives and aiming to be the largest offline retail channel in China [4]. - The company operates two major brands: "Snacks Hen Mang" and "Zhao Yiming Snacks," leading the bulk sales model in China's food and beverage sector [4]. Group 2: Market Position and Strategy - The company focuses on meeting consumer demand for affordable and quality snacks, particularly in community and lower-tier markets, by restructuring the supply chain and reducing intermediaries [5]. - Mingming Hen Mang emphasizes emotional value in its offerings, creating a joyful shopping experience that transforms snack purchasing into a lifestyle choice [6]. Group 3: Supply Chain and Product Offering - The company has established partnerships with over 2,500 quality manufacturers, achieving an average product price that is approximately 25% lower than traditional supermarkets [7]. - As of September 30, 2025, Mingming Hen Mang has around 3,997 SKUs across seven categories, with a monthly introduction of hundreds of new products [7][8]. Group 4: Logistics and Operational Efficiency - The company operates 48 smart logistics centers, ensuring nationwide delivery within a 300-kilometer radius and maintaining a logistics cost ratio of 1.7% of total revenue [9]. - The inventory turnover days for 2024 were reported at 11.6 days, indicating industry-leading operational efficiency [9]. Group 5: Economic Impact and Employment - Mingming Hen Mang supports local food enterprises and agricultural products, enhancing the overall supply chain of domestic snacks and creating numerous job opportunities through its franchise model [10]. - The company’s growth contributes to the improvement of the county-level commercial system, demonstrating its commitment to the real economy [10]. Group 6: Industry Growth and Future Outlook - The retail market for leisure food and beverages in China is projected to grow from RMB 2.9 trillion in 2019 to RMB 3.7 trillion by 2024, with a compound annual growth rate of 5.5% [11]. - The listing on the Hong Kong Stock Exchange signifies a transition to a more transparent and stable development phase, with ongoing investments in store networks, supply chain capabilities, and product safety [11].