Core Viewpoint - Green Tea Group officially listed on the Hong Kong Stock Exchange on May 16, marking the culmination of a challenging IPO journey that began in 2021. The company anticipates growth in revenue and net profit from 2022 to 2024, primarily driven by an increase in the number of restaurants, despite acknowledging a decline in key operational metrics in 2024 compared to 2023 [1][4][10]. Group 1: Financial Performance - Green Tea Group's revenue for 2022, 2023, and 2024 is projected to be approximately CNY 2.375 billion, CNY 3.589 billion, and CNY 3.838 billion, respectively. The net profit for the same years is expected to be around CNY 17 million, CNY 296 million, and CNY 350 million [10]. - The average daily sales per restaurant in 2024 is expected to decrease to CNY 21.7 thousand from CNY 27.2 thousand in 2023, indicating a decline in consumer spending [12]. Group 2: Expansion Plans - Green Tea Group plans to expand its restaurant network significantly, aiming to open 150, 200, and 213 new restaurants in 2025, 2026, and 2027, respectively [6]. - The company currently operates over 400 restaurants and aims to reach a total of 1,000 restaurants within three years [4][5]. Group 3: Market Position - As of April 14, 2025, Green Tea Group is ranked third in terms of the number of restaurants and fourth in revenue among casual Chinese restaurant brands in China, holding a market share of 0.7% in the casual Chinese dining sector [5][9]. - The restaurant market is highly fragmented, with numerous participants, presenting both opportunities and challenges for expansion [6]. Group 4: Challenges and Strategic Focus - The company has reported a decline in same-store sales and table turnover rates, which are critical operational metrics, due to changing consumer behavior and reduced dining out [12][9]. - Green Tea Group is focusing on enhancing its delivery services, which have seen growth, and plans to innovate its menu to improve profitability and customer attraction [13][14].