Core Viewpoint - Wufangzhai plans to issue H-shares and list on the Hong Kong Stock Exchange to accelerate its internationalization strategy and enhance its overseas business presence [1] Group 1: Company Overview - Founded in 1921, Wufangzhai is one of the first national "Chinese Time-honored Brands" and has established a business model combining "food + catering" [2] - The company has two major production bases in Jiaxing and Chengdu, and as of June 30, 2025, it operates 496 stores through various models, covering key cities in East and Central China [2] - Wufangzhai's product matrix focuses on glutinous rice products, including zongzi, mooncakes, and other seasonal foods, as well as baked goods and frozen foods, creating a comprehensive product ecosystem [2] Group 2: Financial Performance - In the first half of 2025, Wufangzhai achieved a revenue of 1.592 billion yuan and a net profit of 195 million yuan [2] - The company maintains stable core business performance during the consumer market adjustment period, with notable channel growth through partnerships with leading retail channels [2] Group 3: Internationalization Strategy - Wufangzhai began its export business in 1995 and has since established an initial overseas sales network [3] - The company has set a new business strategy to "go global" in 2024, opening subsidiaries in countries such as Singapore, Japan, the UK, France, and Australia [3] - In the first half of 2025, Wufangzhai successfully entered new markets including South Korea, UAE, and Thailand, and has obtained export qualifications for non-zongzi products [3] Group 4: Industry Impact - Wufangzhai is a key player in setting industry standards, having drafted the international standard for zongzi, which was officially released in 2024 [3] - The company aims to enhance the international influence of Chinese traditional culture and food standards, paving the way for the global expansion of traditional Chinese cuisine [3] - Wufangzhai is committed to a three-pronged strategy of "product innovation + channel optimization + internationalization" to improve operational efficiency and brand value [3]