Core Viewpoint - Jiangxi Qiyunshan Food Co., Ltd. is preparing for an IPO on the Hong Kong Stock Exchange, showcasing significant growth in revenue and net profit, driven by its flagship product, the South Jujube Cake, which has a strong market presence and a commitment to green food standards [5][11][12]. Group 1: Company Overview - Jiangxi Qiyunshan Food Co., Ltd. originated from a food factory established in 1958 and has evolved into a leading player in the South Jujube food market, holding a 32.4% market share [5][9]. - The company has achieved annual revenues exceeding 330 million yuan, with a remarkable growth trajectory over the past few years [3][11]. - The leadership of the company consists of the Liu brothers, who have been instrumental in its development since the introduction of the South Jujube Cake in 1992 [5][8]. Group 2: Financial Performance - From 2022 to 2024, the company's revenue increased from 217 million yuan to 339 million yuan, reflecting a compound annual growth rate (CAGR) of 24.92% [11]. - Net profit surged from approximately 25.6 million yuan in 2022 to 53.2 million yuan in 2024, with a CAGR of 44.06% [11]. - In 2024, the company reported a 37.2% year-on-year revenue growth and a staggering 124.4% increase in net profit [11]. Group 3: Product and Market Strategy - The South Jujube Cake remains the primary product, contributing 86.7% of total revenue in 2024, while the company has expanded its product line to include South Jujube particles and soft candies [12]. - The company has adopted a "rural encircling cities" sales strategy, focusing on traditional offline channels, with 89.3% of revenue coming from offline sales [13]. - A significant partnership with a major customer, identified as "Customer G," has been pivotal, contributing 22.9% of total revenue in 2024 [11][12]. Group 4: Future Plans and Challenges - The company plans to use IPO proceeds to enhance online sales platforms and expand its distribution network into new regions [16]. - Despite its success, the company faces challenges such as over-reliance on a single product and traditional sales channels, with the South Jujube Cake accounting for nearly 90% of revenue [15]. - The competitive landscape is characterized by a fragmented market, with the top ten snack companies holding only 10.4% of the market share, indicating intense competition [15].

Core Viewpoint - Jiangxi Qiyunshan Food Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with Zhongtai International as its sole sponsor [1] Company Overview - Qiyunshan is a well-known snack company in China, specializing in South Jujube food products, holding a market share of 32.4% in the South Jujube food market, making it the industry leader as of 2024 [4] - The flagship product, South Jujube Cake, has been certified as a "green food" for 28 consecutive years and recognized as a national geographical indication product in 2018 [4] - The company was founded in 1992 and has expanded its product range to include four other South Jujube snacks and other fruit and vegetable cakes [4] - The headquarters is located in Chongyi County, Jiangxi Province, which is recognized as the "Hometown of South Jujube" in China, providing the company with advantageous access to local South Jujube resources [4] Market Position - The snack market in China is highly fragmented, with the top five and top ten companies accounting for only 5.9% and 10.4% of the total market share, respectively, as of the 2024 fiscal year [4] - In the fruit snack industry, Qiyunshan ranks ninth with a market share of 0.6% [4] Product Offerings - The company offers five types of South Jujube food products, including South Jujube Cake and South Jujube Granules, as well as other products like South Jujube Jelly, Soft Candy, and Frozen Jujube [5] Financial Performance - For the fiscal years 2022, 2023, and 2024, Qiyunshan reported revenues of approximately RMB 217.31 million, RMB 246.72 million, and RMB 339.13 million, respectively [5][7] - The net profit for the same periods was RMB 25.63 million, RMB 23.71 million, and RMB 53.20 million, respectively [5][7]

Group 1 - The Guangdong government has announced the establishment of 45 green food lychee production bases to promote high-quality agricultural products [24][26][28] - The lychee season is in full swing, with Guangdong producing over half of China's lychee and one-third of the world's supply [25] - The 雷岭 lychee, known for its quality and fragrance, has been exported to North America, UAE, and Singapore for several years [20][21] Group 2 - A new export market for 雷岭 lychee has been established, with the first batch weighing approximately 60,000 pounds shipped to North America [50][51] - The Guangdong provincial government is actively supporting disaster recovery efforts, allocating 60 million yuan for post-disaster recovery in areas affected by recent typhoons [4] - The construction of typical towns in Guangdong is progressing, with training sessions held to enhance the capabilities of construction enterprises [10][12][14]

Group 1 - The conference held in Chengdu's Xinjin District focused on promoting high-quality development of the private economy, attracting nearly 500 guests and industry experts [1] - Liu Yonghao, Chairman of New Hope Group, shared insights on the company's 43-year journey in agriculture, emphasizing the importance of modernizing agriculture and improving farmers' livelihoods [3] - Xinjin District released its first innovation list for 2025, covering six key areas including artificial intelligence and green food, aimed at addressing government and market needs [3] Group 2 - The conference included a signing ceremony for projects with a total investment exceeding 10 billion, involving 16 companies such as China Resources Beverage and Zhiki Food, injecting new vitality into the local economy [3] - Xinjin's private economy accounted for 66.3% of its GDP in 2024, ranking first in Chengdu, with a contribution of 94.4% to GDP and 75.6% to tax revenue [4] - The district plans to enhance market opportunities, eliminate hidden barriers, and promote efficient resource allocation to foster a fair competitive environment for market entities [4]

Group 1 - The Chengdu Xinjing District held a conference to promote high-quality development of the private economy, attended by nearly 500 guests and industry experts [1] - Liu Yonghao, Chairman of New Hope Group, shared the company's experience in agriculture and food industry layout, emphasizing a "5+3" industrial structure and a shift towards artificial intelligence and digital transformation [1][2] - The conference introduced the first batch of scenario innovation lists for 2025, covering six major fields and 23 scenarios, aimed at fostering collaboration between government and market supply [2] Group 2 - In 2024, the private economy in Xinjing District is projected to account for 66.3% of GDP, ranking first in Chengdu, with contributions of 94.4% to GDP and 75.6% to tax revenue [3] - The district plans to enhance the business environment through ten service efficiency cases and specific work plans for 2025, focusing on market opportunities and resource integration [3] - A total investment exceeding 10 billion was signed during the conference, involving 16 companies, which will inject new vitality into the private economy in Xinjing [2]