Group 1 - Qian Dama International Holdings Limited has officially initiated its listing process on the Hong Kong Stock Exchange, with CICC and Agricultural Bank of China International as joint sponsors [1] - Qian Dama is the largest community fresh food chain in China, with a projected overall GMV of RMB 14.8 billion for 2024, of which fresh products account for RMB 13.5 billion [3] - The company has maintained its position as the top community fresh food chain in China for five consecutive years based on fresh product GMV, with a projected GMV of approximately RMB 9.8 billion in the core South China market for 2024, which is 2.8 times that of the second-largest market participant [3] Group 2 - The company's business model is centered around the innovative "Discount Day Clearance" sales strategy and adheres to the "no overnight meat" standard to build a brand perception focused on freshness [3] - As of September 30, 2025, Qian Dama's store network has expanded to 2,938 community stores across 14 provinces, municipalities, and special administrative regions in China, with 2,898 franchise stores and 40 self-operated stores [3] - Financial data indicates that the company expects revenues of RMB 11.744 billion and RMB 11.788 billion for 2023 and 2024, respectively, with net profits of RMB 169 million and RMB 288 million during the same periods [4] Group 3 - The funds raised from the listing are intended for expanding the store network, enhancing product offerings and brand marketing, improving supply chain capabilities, upgrading digital infrastructure, and pursuing potential investment and acquisition opportunities [4]

Core Viewpoint - Qian Dama, a leading community fresh food chain in China, has officially filed for an IPO, aiming to expand its market presence and enhance operational efficiency through the raised funds [1][3]. Group 1: Company Overview - Qian Dama was established in 2014 and is recognized as the largest community fresh food chain in China, focusing on high-quality fresh products, particularly pork [1]. - The company achieved a gross merchandise volume (GMV) of 14.8 billion RMB in 2024, maintaining its position as the top community fresh food chain for five consecutive years [1]. - In 2024, Qian Dama's GMV in the South China community fresh retail market reached approximately 9.8 billion RMB, which is 2.8 times that of the second-largest competitor [1]. Group 2: Store Network and Sales Channels - As of September 30, 2025, Qian Dama operates 2,938 community stores across 14 provinces, municipalities, and special administrative regions in China, with 1,754 franchisees [2]. - The company has established online sales channels through its own platforms, such as WeChat mini-programs and apps, as well as third-party delivery platforms [2]. Group 3: Financial Performance - In 2023, 2024, and the first nine months of 2025, Qian Dama reported revenues of 11.744 billion RMB, 11.788 billion RMB, and 8.359 billion RMB, respectively [2]. - The net profits for the same periods were 169 million RMB, 288 million RMB, and a loss of 288 million RMB, with adjusted net profits of 116 million RMB, 193 million RMB, and 215 million RMB [2]. Group 4: IPO Fund Utilization - The funds raised from the IPO will be used to expand the store network, enhance product offerings, improve supply chain capabilities, upgrade digital infrastructure, and explore potential investments, mergers, and acquisitions [3].