Core Viewpoint - Eight Horses Tea Industry officially listed on the Hong Kong Stock Exchange on October 28, becoming the "first high-end Chinese tea stock," with an initial price of 50 HKD and a first-day opening surge of 73%, reaching a market capitalization of over 7.3 billion HKD [1] Group 1: Quality and Product Strategy - The core of high-end tea lies in quality raw materials sourced from key tea-producing regions in China, with Eight Horses Tea establishing strict selection standards to ensure top-quality ingredients [2][3] - The company has achieved steady revenue growth, with projected revenue increasing from 1.818 billion RMB in 2022 to 2.143 billion RMB in 2024, reflecting a compound annual growth rate (CAGR) of 8.6% [3] - Eight Horses Tea has built a differentiated business model with various sub-brands targeting specific market segments, including high-end gifts and diverse flavor preferences [3] Group 2: Technological Innovation and Supply Chain - The company has developed a smart supply chain system that integrates "smart tea gardens, smart factories, and smart warehousing," transitioning from experience-driven to technology-driven production [5][6] - Eight Horses Tea has established a comprehensive R&D system, including multiple government-approved laboratories, to enhance product quality and innovation [5] Group 3: Channel Strategy and Market Expansion - The company has created a nationwide network of over 3,700 stores and aims to expand to 1,500 additional stores in the next three to five years, focusing on flagship "city reception hall" stores [7][8] - Eight Horses Tea has achieved full online channel coverage, ranking first in tea categories on major e-commerce platforms and local life services, while also planning to expand internationally [8]