新店型"短命"背后藏何因 继此前"书房风"之后，和府捞面尝试绿色有机"草本汤面馆"定位，如今再次开启新尝试。不久前，和府捞面在苏州开出了新店，门店前摆满热气腾腾的笼 屉、店内炒着充满锅气的浇头，一家名为和府小面小点的门店悄然营业。 和府捞面正开展一场门店调整实验。近日，位于苏州刚开业没多久的和府小面小点变身和府捞面·大师店，卖点上从现炒浇头转变为现熬汤底。对于这一变 化，品牌方称之为是门店的快速迭代。近几年的和府捞面在热议与调整中度过，开放加盟、调整人员、撕掉高端标签降价等，如今试水新店型颇有撕掉"预 制"标签及试探价格带的意味。在业内人士看来，和府捞面的种种举动是应对消费变化和改善品牌老化的决策，根据细分品类特色更加准确地锁定目标客群 才是核心关键。 消费者在社交平台晒出的内容显示，这家门店产品上区别于常规门店的"草本汤面"，提供现炒浇头米饭和拌面、锅锅现煮汤面以及蒸煮点心，包括爆香回锅 肉饭、爆炒猪肝拌面、猪肝面、手作蟹黄包等。价格上，拌面的售价在28—49元之间，汤面价格在29—39元之间，价格并不算低。 不过，目前这家和府小面小点已经改为了和府捞面·大师店，卖点是现熬骨汤，产品上保留了部分点心之外，此 ...

Core Viewpoint - The Chinese noodle chain brand "Yujian Xiaomian" has submitted its prospectus for an IPO on the Hong Kong Stock Exchange, attracting significant market attention due to its performance and growth potential in the Chinese noodle restaurant sector [1] Financial Performance - Yujian Xiaomian achieved substantial revenue growth over the past three years, with revenues of 418 million yuan, 801 million yuan, and 1.154 billion yuan for 2022, 2023, and 2024 respectively, reflecting a compound annual growth rate of 66.2% [2] - The company turned a profit in 2023 with a net profit of 45.6 million yuan, up from a loss of 35.97 million yuan in 2022, and further increased to 60.7 million yuan in 2024 [2] - Same-store sales showed volatility, with a 28% increase in 2023 compared to 2022, but a decline of 4.2% in 2024, attributed to a strategy of lowering dish prices to attract more customers [2] Operational Performance - The company employs a dual model of direct operation and franchising, with 360 restaurants by the end of 2024, of which 279 are directly operated and 81 are franchised [3] - Revenue from directly operated restaurants accounted for a significant portion of total revenue, with figures of 336 million yuan, 672 million yuan, and 1 billion yuan from 2022 to 2024, representing 80.5%, 83.9%, and 86.7% of total revenue respectively [3] - Yujian Xiaomian plans to continue its rapid expansion, aiming to open approximately 120-150, 150-180, and 170-200 new restaurants from 2025 to 2027 [3] Digital Operations - The company has developed a proprietary digital system for various operational aspects, including business and financial analysis, procurement, inventory, supply chain management, and employee training [4] - A "racehorse system" is implemented across all restaurants to quantify key operational metrics, enhancing efficiency and service quality [4] Shareholding Structure - The shareholding structure is diverse, with major shareholders including Song Qi, Su Xuxiang, and others holding approximately 53.28% of shares [5] - Notable investors include Baifu Holdings and former executives from JD Group and McDonald's, which may enhance brand and operational strategies [5] Industry Competition - The Chinese noodle restaurant market is highly fragmented, with the top five players holding only 2.9% of the market share as of 2024 [6] - Yujian Xiaomian is the leading operator in the Sichuan-Chongqing flavor noodle segment but still holds a relatively low market share in the broader market [6] - The company faces challenges from intense price competition and the need to maintain profitability while expanding into lower-tier and overseas markets [6][7] Opportunities and Challenges - Despite challenges, the growing demand for Chinese cuisine presents significant growth potential for Yujian Xiaomian [8] - The IPO proceeds will be used for restaurant network expansion, technology upgrades, brand building, and potential strategic investments in upstream food processing companies [8] - The company's future success will depend on balancing expansion speed with profitability and enhancing brand influence and operational efficiency [8]

或将成为"中式面馆第一股"。 本文为IPO早知道原创 作者｜ Stone Jin 微信公众号｜ipozaozhidao 据 IPO早知道消息， 广州遇见小 面 餐饮股份有限公司 （以下简称 " 遇见小 面 "）于2025年4月15 日正式向港交所递交招股说明书，拟主板挂牌上市，招银国际担任独家保荐人。 这意味着， 遇见小 面或将成为 "中式面馆第一股"。 2014年， 遇见小 面的第一家餐厅在广州开业。 截至 2025年4月5日 ，遇见小 面在中国内地的 22 座 城市 开有 374家餐厅 以及在 香港特别行政区 开有 六家餐厅 ；截至同日， 遇见小 面另 有 64家 新餐厅在积极筹备中。 财务数据方面。 2022年至2024年， 遇见小 面的营收分别为 4.18亿元、8.01亿元和11.54亿元，复 合年增长率为66.2%。 此外， 遇见小 面在 2023年就已实现扭亏为盈，当年的净利润为0.46亿元，2024年的净利润进一步 提升至0.61亿元 。 成立至今，遇见小面已获得顾东生、青骢资本、九毛九、弘毅投资、喜家德水饺创始人高德福、碧桂 园等知名机构/个人的投资。 值得注意的是， 前京东集团 CEO 徐雷 ...