Core Viewpoint - Green Tea Group Limited plans to launch an IPO from May 8 to May 13, 2025, aiming to raise approximately HKD 1.211 billion through the issuance of 168.364 million shares at a price of HKD 7.19 per share [1][3]. Group 1: IPO Details - The IPO will consist of 117.854 million new shares and 50.5092 million shares for sale by existing shareholders [1]. - Partners Gourmet, the selling shareholder, will see its stake in Green Tea Group decrease from approximately 28.2% to about 15.76% post-IPO, and further to around 7.50% after the sale of shares [5]. Group 2: Company Overview - Green Tea Group operates a chain of casual Chinese restaurants, with the number of restaurants expected to grow from 276 at the end of 2022 to 489 by April 2025 [5]. - The company ranks third and fourth in the Chinese casual dining sector by restaurant count and revenue, respectively, and is the largest player focused on fusion cuisine among the top five operators [7]. Group 3: Financial Performance - Revenue figures for Green Tea Group are projected at approximately RMB 2.375 billion, RMB 3.589 billion, and RMB 3.838 billion for the years 2022, 2023, and 2024, respectively [7]. - Net profit is expected to rise from approximately RMB 16.58 million in 2022 to RMB 350.17 million in 2024, with adjusted net profit figures of RMB 25.22 million, RMB 30.3 million, and RMB 36.1 million for the same years [7][9]. Group 4: Revenue Breakdown - In 2024, restaurant operating income is estimated at RMB 3.099 billion, a slight increase of 1.3% from 2023, while takeaway business revenue is projected to grow by 39.8% to RMB 723 million, accounting for 18.8% of total revenue [10]. - The average spending per customer decreased from RMB 61.8 in 2023 to RMB 56.2 in 2024, while the table turnover rate also declined from 3.30 times in 2023 to 3.00 times in 2024 [10]. Group 5: Dividend Policy - Green Tea Group plans to declare a special dividend of no less than RMB 180 million to shareholders by December 2025, contingent on retained earnings from subsidiaries [11].