Core Viewpoint - The article discusses the recent listing of Haitian Flavor Industry Co., Ltd. on the Hong Kong Stock Exchange, highlighting the company's market performance and strategic goals for global expansion [2][3][9]. Group 1: Market Performance - On its first day of trading, Haitian's stock initially rose nearly 5% but later fell below the issue price, closing down 0.55% [3]. - The company raised approximately HKD 10.0096 billion from the global offering, with a final issue price of HKD 36.30 per share [5]. - The Hong Kong public offering was oversubscribed by 918.15 times, indicating strong investor interest [5][6]. Group 2: Strategic Goals - Haitian aims to enhance its global presence and brand image through this secondary listing, which is part of its broader globalization strategy [9][11]. - The funds raised will be allocated to product development, technological upgrades, and expanding sales channels, particularly in Southeast Asia and Europe [11]. - The company has already initiated overseas operations, establishing several international trade companies in 2023 and 2024 [10]. Group 3: Financial Performance - From 2011 to 2021, Haitian's revenue and net profit consistently increased, with 2021 figures showing revenue of CNY 25.004 billion and net profit of CNY 6.671 billion, reflecting year-on-year growth of 9.71% and 4.18% respectively [15]. - However, in 2022, the company faced challenges, including a decline in net profit for the first time since 2011, attributed to the "double standard" controversy [16]. - In 2023, Haitian reported a revenue of CNY 24.559 billion and a net profit of CNY 5.627 billion, marking a year-on-year decline of 4.10% and 9.21% respectively [17]. Group 4: Leadership Transition - In September 2024, Haitian underwent a leadership change with Cheng Xue taking over from the long-time chairman, Pang Kang [18]. - Cheng Xue, who has been with the company since 1992, is expected to lead the company towards recovery and growth [20][24]. - Under Cheng's leadership, the company reported a revenue of CNY 26.901 billion and a net profit of CNY 6.344 billion in 2024, showing a year-on-year increase of 9.53% and 12.75% respectively [24].

Core Viewpoint - Haitai Weiye, a leading condiment company in A-shares, has officially launched its global offering for a secondary listing in Hong Kong, scheduled from June 11 to June 16, with expected listing on June 19 [1] Group 1: Global Offering Details - The company plans to issue 263 million H-shares, with 247 million shares allocated for international offering and 15.79 million shares for public offering in Hong Kong [2] - The expected price range for the shares is between 35 to 36.3 HKD per share, with cornerstone investors committing nearly 4.7 billion HKD, accounting for about 50% of the total offering [2][3] - Notable cornerstone investors include Hillhouse Capital, GIC, UBS Asset Management, and others, indicating strong market confidence in the company [2] Group 2: Financial Performance - Since its listing in 2014, the company's revenue has grown from 9.8 billion RMB to over 26.9 billion RMB, maintaining a strong market position [3] - The company reported revenues of 256.1 billion RMB, 245.59 billion RMB, and 269.01 billion RMB for the years 2022 to 2024, with net profits of 62 billion RMB, 56.42 billion RMB, and 63.55 billion RMB respectively [3] - In the first quarter of 2025, the company achieved a revenue of 8.315 billion RMB, an increase of 8.1% year-on-year, with a net profit of 2.207 billion RMB, up 14.5% [3] Group 3: Market Position - Haitai Weiye holds a 4.8% market share in China's condiment market, which is projected to reach 498.1 billion RMB in 2024, making it the market leader [4] - The global condiment market is expected to reach 2.1438 trillion RMB in 2024, with the company holding a 1.1% share, ranking fifth globally [5] Group 4: Global Expansion Strategy - The company aims to utilize the funds raised from the listing for global brand building, sales channel expansion, and enhancing overseas supply chain capabilities, with 20% of the funds specifically allocated for these purposes [6][7] - The company has already initiated its overseas expansion by establishing several international trade companies and plans to enhance its presence in Southeast Asia and Europe [6][7]