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鸣鸣很忙披露招股书:门店逼近1.5万家,收入近400亿元
Xin Jing Bao· 2025-04-29 07:39
Core Viewpoint - The company "Mingming Hen Mang" has submitted its IPO application to the Hong Kong Stock Exchange, aiming to expand its market presence in the snack retail sector, with significant projected revenue growth and a unique business model focused on supply chain optimization and customer experience [1][3]. Company Overview - "Mingming Hen Mang" reported revenues of 4.286 billion yuan, 10.295 billion yuan, and 39.344 billion yuan for the years 2022, 2023, and 2024 respectively, with adjusted net profits of 81 million yuan, 235 million yuan, and 913 million yuan for the same years [1]. - The company operates under two snack brands: "Snacks Hen Mang" and "Zhao Yiming Snacks," which merged in November 2023 to form "Mingming Hen Mang" [1]. Business Model and Operations - The company employs a "bulk retail model" that focuses on supply chain reconstruction, innovative product development, and creating a pleasant shopping experience, leading to rapid growth [1]. - As of the end of 2024, the company plans to have 14,394 stores across 28 provinces and all tiered cities in China, with approximately 58% located in county and town areas [1]. Product Strategy - "Mingming Hen Mang" has established a standardized product selection mechanism that includes initial selection, tasting, trial sales, and promotion, with 3,380 SKUs in stock by the end of 2024, of which about 25% are customized products [2]. - The average number of SKUs per store is at least 1,800, which is double that of similar-sized supermarkets [2]. Financial Performance - The company has maintained a stable gross margin of 7.5%-7.6% from 2022 to 2024, with net profit margin increasing from 1.7% to 2.1% during the same period [2]. - The revenue model is primarily based on product sales to franchise and direct stores, with franchise fees and service income accounting for less than 0.5% of total revenue [2]. Market Position and Growth Potential - The retail snack sector in China is highly fragmented, with the top five chain retailers holding only 6.0% of the market share in 2024, indicating significant growth potential for "Mingming Hen Mang" [3]. - The company plans to use IPO proceeds for store expansion, supply chain optimization, and digital transformation to enhance market penetration and meet diverse consumer demands [3].
4.29犀牛财经早报:ChatGPT杀入电商赛道 幸福航空五一假期航班全部取消
Xi Niu Cai Jing· 2025-04-29 02:26
Group 1 - The public offering of index-enhanced funds is experiencing explosive growth, with new issuances this year reaching nearly seven times that of the same period last year, despite recent stagnation in fund size growth [1] - The stagnation is attributed to high investor cognitive barriers and the instability of excess returns, prompting fund companies to optimize strategies and innovate services to explore new opportunities in index investment [1] Group 2 - Alibaba has open-sourced its new Qwen3 model, which has one-third the parameters of DeepSeek-R1, significantly reducing costs while outperforming leading models [1] - The Qwen3 model integrates "fast thinking" and "slow thinking" within a single framework, utilizing a mixture of experts architecture, with a total parameter count of 235 billion and activation requiring only 22 billion [1] Group 3 - OpenAI is entering the e-commerce space by allowing users to purchase products through ChatGPT, redirecting them to merchant websites for checkout [2] - The product recommendations are based on user preferences and reviews from across the web, with OpenAI not charging affiliate marketing fees for purchases made through ChatGPT [2] Group 4 - The oil service industry is facing challenges due to falling international oil prices, but companies like CNOOC Services and Jereh are reporting stable performance in their Q1 2025 results [3] - Oil service companies are diversifying their operations to enhance competitiveness in response to potential risks from oil price fluctuations [3] Group 5 - Several A-share companies are changing their stock names to reflect strategic transformations and enhance brand image, with over 20 companies reported to have announced name changes this year [8] - The name changes are seen as a way to attract investor attention and signal new directions for the companies [8] Group 6 - Foton Motor announced plans to subscribe for up to 2.5 billion yuan worth of shares in Beiqi Blue Valley, which is raising up to 6 billion yuan in total [9] - This transaction is classified as a related party transaction and does not constitute a major asset restructuring [9] Group 7 - Greenland Holdings reported a net loss of 247 million yuan in Q1 2025, with revenues declining by 30.97% year-on-year [10] - Gree Real Estate also reported a loss of 90.96 million yuan in Q1 2025, with revenues down 58.54% compared to the previous year [11]
3年12倍!狂飙的零食第一妖股
格隆汇APP· 2025-04-24 09:30
Core Viewpoint - The snack industry has undergone significant adjustments in recent years, with traditional giants facing declines while new players like Wanchen Group are rapidly rising [1][3][10]. Group 1: Market Dynamics - Wanchen Group's stock price has surged sixfold since July 2022, making it the top performer among listed companies in the Shanghai and Shenzhen markets [4][5]. - Wanchen Group's market capitalization has surpassed 20 billion, overtaking established players like Three Squirrels to become the industry leader [7]. - The snack industry is experiencing a stark contrast, with traditional giants like Three Squirrels and Laiyifen struggling, while Wanchen Group has reported a revenue increase of 247.9% to 32.33 billion in 2024 [12][11]. Group 2: Business Model and Expansion - Wanchen Group has transitioned from a mushroom cultivation business to a major player in the bulk snack sector, launching its brand "Lvxiaochan" in August 2022 [14][15]. - The company has aggressively acquired multiple snack brands, consolidating them under the "Haoxianglai" brand to streamline operations and expand its market presence [20]. - By 2024, Wanchen Group's store count reached 14,196, nearly doubling from the previous year, with plans to exceed 15,000 stores by March 2024 [20][21]. Group 3: Financial Performance - Wanchen Group's revenue from bulk snacks accounted for 98.33% of its total revenue in 2024, highlighting its focus on this segment [19]. - Despite significant revenue growth, Wanchen Group's gross margin was only 10.76%, well below the industry average of 20.35% [28]. - The company reported a net profit of 294 million in 2024, recovering from a loss of 82.93 million the previous year [12]. Group 4: Competitive Landscape - The bulk snack market is characterized by intense competition, with brands engaging in price wars to attract cost-sensitive consumers [37][42]. - The market is becoming increasingly concentrated, with the top two brands controlling 70% of the market share by late 2024 [48]. - Wanchen Group and its competitor Mingming Hen Mang are leading the market, but both face challenges with low profit margins, hovering around 2% [52]. Group 5: Future Outlook - The bulk snack industry is expected to grow significantly, with projections indicating the number of stores will reach 45,000 by 2025 and the market size will hit 123.9 billion [33]. - Companies are exploring new formats, such as discount supermarkets, to adapt to changing consumer preferences and enhance profitability [60][61]. - Wanchen Group's valuation has reached 84.95 times earnings, significantly higher than industry averages, raising concerns about sustainability amid increasing competition [65].
一月内两度增资增幅709.2%,鸣鸣很忙上市猜想持续升温
Sou Hu Cai Jing· 2025-04-18 01:37
继上月完成超千万增资后,湖南鸣鸣很忙商业连锁股份有限公司(简称"鸣鸣很忙")于近日再获资本大 手笔加持,其频繁的增资举措也进一步引发了市场对其上市计划的广泛猜测。 工商信息显示,鸣鸣很忙注册资本由4000万增加至2亿元,同时,其投资总额同步发生变更,由 4943.2756万元增至6亿元。 事实上,就在上月17日,鸣鸣很忙完成了成立以来的首笔超千万增资,注册资本由2471.63万元增至 4000万元,结合此番增资,增资幅度已达709.2%。 两天后,市场监管局再次披露一则关于18批次食品不合格情况的通告,其中再次出现了赵一鸣零食店的 身影。 此外,今年1月,鸣鸣很忙突遭市场监管总局反垄断罚款175万元。当月3日,市场监管总局对鸣鸣很忙 收购宜春赵一鸣食品科技有限公司股权违法实施经营者集中案作出行政处罚决定。这是新修订的反垄断 法施行后,总局公布的第四例违法实施经营者集中案件的处罚决定。 除增资之外,近两个月时间,鸣鸣很忙动作频频。3月中旬,其同步完成了公司更名及重要人事调整。 记者看到,其公司名称由湖南鸣鸣很忙商业连锁有限公司变更为湖南鸣鸣很忙商业连锁股份有限公司, 企业类型由有限责任公司(港澳台投资、非独资) ...