Group 1 - The company plans to globally offer 14.1011 million H-shares, with 1.4102 million shares available in Hong Kong and 12.6909 million shares for international offering, subject to reallocation and adjustments [1] - The expected pricing date for the shares is January 26, 2026, with a price range of HKD 229.60 to HKD 236.60 per share, and trading on the Hong Kong Stock Exchange is anticipated to begin on January 28, 2026 [1] Group 2 - The company is a mature and steadily growing food and beverage retailer in China, with a store network primarily located in high-traffic, easily accessible areas, aiming to provide a joyful and comfortable shopping experience [2] - As of September 30, 2025, the company operates a network of 19,517 stores across 28 provinces in China, with approximately 59% of stores located in county and town areas [2] - The company recorded a GMV of RMB 55.5 billion in 2024, and for the nine months ending September 30, 2025, the GMV reached RMB 66.1 billion, representing a 74.5% increase compared to the same period in 2024 [2] Group 3 - The company operates under two brands: "Snack Busy" and "Zhao Yiming Snacks," with a dual-brand strategy maintained post-merger to leverage complementary regional coverage and consumer recognition [3] - The number of stores increased significantly from 6,585 as of December 31, 2023, to 19,517 as of September 30, 2025, following the merger [3] Group 4 - The company has entered into cornerstone investment agreements, with cornerstone investors agreeing to subscribe for approximately USD 195 million (or about HKD 1.5199 billion) worth of shares at the indicative median price of HKD 233.10 per share [4] - The cornerstone investors include notable firms such as Tencent, Temasek, BlackRock, and others [4] Group 5 - The company estimates net proceeds from the global offering to be approximately HKD 3.124 billion, or HKD 3.960 billion if the over-allotment option is fully exercised [5] - The intended use of the net proceeds includes 25% for enhancing supply chain capabilities, 20% for store network upgrades, 20% for brand building, 20% for technology and digital improvements, 5% for strategic investments, and 10% for working capital and general corporate purposes [5]