Core Viewpoint - Baima Tea has successfully passed the listing hearing at the Hong Kong Stock Exchange, marking a significant step towards its IPO and the advancement of capitalizing the Chinese tea industry [1][4]. Group 1: Company Overview - Baima Tea is a leading brand in China's high-end tea market, ranking first in sales revenue and the number of chain stores as of 2024 [1][2]. - The company has shown steady financial growth, with revenue increasing from RMB 1.818 billion in 2022 to RMB 2.143 billion in 2024, representing a compound annual growth rate (CAGR) of 8.57% [2]. - Net profit rose from RMB 166 million in 2022 to RMB 224 million in 2024, with a CAGR of 16.16% [2]. Group 2: Product and Market Position - Baima Tea offers a comprehensive range of tea products, including Oolong, black, red, green, white, and yellow teas, as well as tea-related products [2][3]. - The company has maintained a leading position in key product categories, with its Tieguanyin sales revenue ranking first in the country for over a decade [2][3]. Group 3: Production and Innovation - The company operates advanced production lines, including a seventh-generation intelligent production line in Wuyi Mountain, enhancing its digital and information-based production capabilities [3]. - Baima Tea has developed a multi-brand strategy, with its core brand recognized as a famous Chinese trademark since 2010 [3]. Group 4: International Expansion - Baima Tea has conducted global tasting events in over 30 countries and has represented Chinese tea at significant international occasions [3]. - The company aims to promote Chinese tea culture internationally, focusing on Southeast Asia and countries involved in the Belt and Road Initiative [3]. Group 5: Future Plans and Capital Utilization - The IPO is expected to provide capital support for Baima Tea's strategic initiatives, including expanding production bases and optimizing its offline store network [4]. - The company aims to enhance its online sales channels and invest in other participants in the Chinese tea industry [4].

八马茶业如今产品覆盖乌龙茶、黑茶、红茶、绿茶、白茶、黄茶等全品类茶叶及茶具、茶食、茶饮等非茶叶产 品。其在核心品类的市场地位突出，弗若斯特沙利文报告显示，八马茶业铁观音销售收入连续10余年位居全国第 一；武夷岩茶销售收入连续5年位居全国第一；红茶销售收入连续4年位居全国第一。 在生产端，八马茶业位于武夷山智能化生态产业园的第七代智能化生产线为武夷茶数字化及信息化生产线；其位 于安溪生产基地的第六代生产线已获得"中国茶科技创新大赛特等奖"。 经过多年发展，八马茶业已形成多品牌战略布局：核心品牌"八马"自2010年起被认定为中国驰名商标，覆盖全品 类茶叶及衍生品；"信记号"子品牌专注于高端年份普洱茶，2024年被商务部等认定为中华老字号；"万山红"子品 牌则面向年轻及女性客群，主打多口味红茶、调味茶和代用茶。 在国际化拓展方面，截至2025年6月30日，八马已在美国、英国、法国等30多个国家举办全球品鉴会，并多次代表 中国茶服务重大国际场合，例如2017年厦门金砖领导人会晤、2018年中印领导人非正式会晤东湖茶叙。并优先选 择东南亚及"一带一路"沿线合适国家作为出海试点，推动中国茶文化走向世界。 10月12日，国 ...