Group 1 - The company, "遇见小面," plans to globally offer 97.3645 million H-shares, with 9.7365 million shares available in Hong Kong and 87.628 million shares for international offering, subject to reallocation and the exercise of the over-allotment option [1] - The company operates a network of 451 restaurants in 22 cities in mainland China and 14 in Hong Kong, with 115 new restaurants in preparation [2] - According to Frost & Sullivan, the company ranks as the fourth largest Chinese fast-casual restaurant operator in China with a market share of 0.5% in 2024 [2] Group 2 - The cornerstone investors have agreed to subscribe for approximately $22 million (or about HKD 171 million) of the offered shares, assuming certain conditions are met [3] - If the offer price is set at HKD 6.34 per share, the company expects to receive a net amount of approximately HKD 551.6 million from the global offering [4] - The company plans to allocate approximately 60% of the proceeds to expand its restaurant network and deepen market penetration, with 10% each for upgrading IT capabilities, brand building, strategic investments in upstream food processing, and general corporate purposes [4]

Core Insights - The company Gantang Mingshan has increased its registered capital to 520 million RMB, marking a 78% increase from approximately 290 million RMB [1] - Gantang Mingshan is preparing for a potential IPO in Hong Kong, with an estimated valuation of around 970 million USD (approximately 7 billion RMB) [2] - The company has expanded its brand portfolio, including partnerships with renowned food critic Cai Lan, launching various food brands [4] Group 1: Company Developments - Gantang Mingshan was established in December 2021 and has undergone significant changes in its registered capital and management [1] - The company holds 100% equity in Shenzhen Lijia Catering Management Co., which is associated with the Cai Lan Dim Sum brand [1] - In March 2023, Gantang Mingshan completed a major acquisition of "Cai Lan Flower World," focusing on new retail models [4] Group 2: Market Position and Future Plans - Gantang Mingshan's valuation is approximately 9.73 billion USD, indicating strong market potential [2] - The company is currently optimizing its governance structure and internal control systems in preparation for the IPO [2] - The brand portfolio includes popular offerings such as Cai Lan Dim Sum and Cai Lan Pho, which have gained rapid popularity in major cities [4]