食品圈有大动作，天味食品将奔赴香港上市，卤味大拿全力向冻干领域冲刺，食品行业中，近期有两件事颇受关注，天味食品拟进军香港上市，卤味巨头奋 力朝着冻干食品领域迈进，其中蕴含着食品行业怎样的发展趋势与市场规律？ 不过，这两个举动也面临着一些挑战， 对于天味食品来说，进军香港上市后，得去适应国际市场的规则和投资者的需求， 天味食品为川味复合调味料的龙头企业，此番规划赴港上市，背后存多重考量，于市场拓展而言，香港乃国际金融中心，拥有更宽泛的国际投资者群体，天 味食品上市后，可获取更多资金支撑，用以拓展海外市场，例如天味食品能够凭借这些资金在东南亚、欧美等地构建销售渠道，推广川味调味料。 从行业竞争角度来剖析，由于食品行业竞争愈发激烈，天味食品得不断提升自身竞争能力，赴香港上市有利于提升品牌在国际上的知名度，吸引众多高端人 才与先进技术，这恰似一场竞赛，天味食品经赴香港上市，为自身配备了更为高级的"装备"在竞争中更具优势。 熟食行业一直是食品行业中的热门领域，这几年市场逐渐趋于饱和，为寻找新的增长机遇，卤味行业各大企业纷纷将目光转向冻干食品领域 脱水食品乃是采用冷冻脱水技术制成的食品，具备储存时间长、营养流失少等优点， ...

Core Viewpoint - Wei Long, known as the "King of Spicy Strips," is preparing for an IPO in Hong Kong, with plans to raise less than $150 million, a significant decrease from the initial target of $1 billion [2][3]. Group 1: IPO Timeline and Fundraising - Wei Long has delayed its IPO multiple times, initially aiming to raise $1 billion in 2021, but the target has now dropped by 85% to $150 million [3][4]. - The company first submitted its IPO application in May 2021 but did not receive approval until November 2021, after which it postponed the listing due to unfavorable market conditions [4][5]. - The latest update on November 23, 2023, indicates a further reduction in fundraising goals, with a projected market valuation of around $1.4 billion, down from previous estimates [5][6]. Group 2: Financial Performance and Valuation - Wei Long's revenue growth has slowed, with a compound annual growth rate (CAGR) of 19.1% from 2019 to 2021, while net profit growth has stagnated [6][7]. - The company's valuation has plummeted from 600 billion RMB to approximately 100 billion RMB, raising questions about whether it was previously overvalued [6][7]. - Comparatively, other companies in the snack food sector, such as Tao Li Bread and Three Squirrels, have lower price-to-earnings ratios, suggesting that Wei Long's current valuation may still be high [10][11]. Group 3: Market Challenges and Product Strategy - Wei Long's revenue declined by 1.8% in the first half of 2022, attributed to pandemic impacts and a drop in sales of its main products [11][12]. - The company has raised prices to counteract rising raw material costs, which has improved profit margins but negatively affected sales volume [11][12]. - Wei Long faces the challenge of shedding its "junk food" image, as consumer preferences shift towards healthier options, necessitating product innovation and reformulation [14][15][16].