Core Viewpoint - The company, Yao Ma Zi Food Co., Ltd., is seeking to go public again after a previous failed IPO attempt, with a focus on expanding its market presence and addressing past regulatory issues [1][4]. Group 1: Company Overview - Yao Ma Zi was established on March 20, 2008, with a registered capital of 132 million yuan, and primarily engages in the research, production, and sales of seasoning oils, compound seasonings, and local specialty foods [2]. - The company has achieved significant revenue growth, with reported revenues of approximately 450 million yuan, 545 million yuan, and 625 million yuan for the years 2022, 2023, and 2024 respectively [6]. Group 2: Ownership and Control - Zhao Yuejun is the controlling shareholder, holding 30.92% of the company, while the Zhao family collectively owns 68.21% of the shares [2]. - Notably, the shareholder list includes Shenzhen Wangju Investment Co., Ltd., a subsidiary of the listed company Juewei Food, which holds 13.68% of Yao Ma Zi [3]. Group 3: IPO Attempts and Regulatory Issues - The company previously attempted an IPO in 2023 but withdrew its application due to strategic adjustments and business development considerations, while also facing regulatory scrutiny for failing to disclose related party transactions [4][5]. - The company received a regulatory letter from the Shenzhen Stock Exchange in 2024 for not disclosing a related party transaction involving 800,000 yuan [5]. Group 4: Financial Performance and Risks - Yao Ma Zi's net profits for the same years were approximately 81.16 million yuan, 98.78 million yuan, and 157 million yuan, indicating a consistent upward trend [6]. - The company heavily relies on its main product, pepper oil, which accounts for over 80% of its main business revenue, posing a risk of dependency on a single product line [6]. - The company's inventory turnover rate is notably low at 1.51 times, compared to 15 other listed companies in the seasoning industry, indicating potential inefficiencies [7].

Core Viewpoint - The company, Yao Ma Zi Food Co., Ltd., is seeking to go public again after a previous failed IPO attempt, with a focus on expanding its core product, pepper oil, while facing challenges such as low inventory turnover and rising sales expenses [1][5][8]. Group 1: Company Overview - Yao Ma Zi was established on March 20, 2008, with a registered capital of 132 million yuan [3]. - The company primarily engages in the research, production, and sales of seasoning oils, compound seasonings, and local specialty foods, with pepper oil as its core product [3]. - The actual controller, Zhao Yuejun, holds 30.92% of the company's shares, and the Zhao family collectively controls 68.21% of the company [3][4]. Group 2: IPO Attempts and Regulatory Issues - The company entered the IPO counseling phase on August 5, 2024, with the China International Capital Corporation as the counseling agency [3]. - Previous IPO attempts faced regulatory scrutiny, including a failure to disclose related party transactions, leading to a regulatory letter from the Shenzhen Stock Exchange in August 2024 [5][6][7]. - The company withdrew its IPO application in December 2023 due to strategic adjustments and business development considerations [5]. Group 3: Financial Performance - Yao Ma Zi's revenue and net profit have shown consistent growth from 2022 to 2024, with revenues of approximately 450 million yuan, 545 million yuan, and 625 million yuan, and net profits of approximately 81.16 million yuan, 98.78 million yuan, and 157 million yuan, respectively [8]. - The revenue from the main product, pepper oil, accounts for over 80% of the total revenue, indicating a reliance on a single product [8]. - The company's inventory turnover rate for 2024 is reported at 1.51 times, which is lower than that of 15 comparable listed companies in the seasoning and fermentation industry [9]. Group 4: Sales and Marketing Expenses - Sales expenses have been increasing, with figures of approximately 29.38 million yuan, 32.42 million yuan, and 33.64 million yuan from 2022 to 2024 [9].

Core Viewpoint - The company "幺麻子食品股份有限公司" is seeking to go public again after a previous failed IPO attempt, with a focus on expanding its product offerings and addressing regulatory concerns from past disclosures [1][6][9]. Group 1: Company Overview - 幺麻子 was founded in March 2008 and has a registered capital of 132 million yuan, primarily engaged in the research, production, and sales of seasoning oils, compound seasonings, and local specialty foods [3]. - The company has seen significant revenue growth, with reported revenues of approximately 450 million yuan, 545 million yuan, and 625 million yuan from 2022 to 2024, respectively [9]. - The main product, 藤椒油, accounts for over 80% of the company's main business revenue, indicating a reliance on a single product [9]. Group 2: IPO Attempts and Regulatory Issues - After a failed IPO attempt in 2023, the company has entered a new listing guidance phase as of August 5, 2024, with the guidance expected to be completed by August 5, 2025 [3][6]. - The company received regulatory scrutiny for failing to disclose related party transactions during its previous IPO attempt, resulting in a regulatory letter from the Shenzhen Stock Exchange in 2024 [7][8]. - The previous IPO process faced issues such as flaws in fund flow verification and distributor customer visit procedures, leading to increased scrutiny in the upcoming IPO review [8]. Group 3: Financial Performance and Challenges - Despite strong revenue growth, the company's inventory turnover rate is significantly lower than that of 15 comparable listed companies in the seasoning industry, with a turnover rate of 1.51 times in 2024 [9][10]. - Sales expenses have been on the rise, increasing from approximately 29.38 million yuan in 2022 to 33.63 million yuan in 2024 [10]. - The company is actively working to diversify its product offerings beyond 藤椒油 to mitigate risks associated with product dependency [9].