Core Viewpoint - Tasting restaurant management company, known for its Chinese burger brand, is reportedly preparing for an overseas IPO, likely in Hong Kong, following recent equity changes and capital increases [1][2] Group 1: Company Developments - Tasting's registered capital increased from approximately 1.03 million to 118 million yuan in early June [1] - A new shareholder, YAHUIHU, was introduced, and the company type changed from a limited liability company (natural person investment or holding) to a limited liability company (foreign investment, non-independent) [1] - On June 18, Tasting (HK) Holdings Limited acquired all shares, with original shareholders collectively exiting [1] Group 2: Business Growth - Tasting restaurant management was established in December 2017, with founders including Wei Youchun, Yang Keying, and Yang Bing [2] - The company had plans to go public within five years as of 2021 [2] - Tasting's store openings from 2022 to 2024 are projected to be 2,315, 3,769, and 2,338 respectively, with 828 stores opened as of June 11 this year, totaling 9,600 operational stores across 310 cities in 29 provinces [2]

Group 1 - Fuzhou Tasting Catering Management Co., Ltd. is reportedly preparing for an IPO, with recent equity changes and capital increases indicating potential restructuring for this purpose [2][4] - The registered capital of Tasting increased from approximately 1.03 million to 118 million yuan, and a new shareholder, YAHUIHU, was introduced [2] - The company transitioned from a limited liability company (natural person investment or holding) to a limited liability company (foreign investment, non-independent) [2] Group 2 - Tasting (HK) Holdings Limited, established on February 22, 2025, is wholly owned by TASITING HOLDINGS LIMITED registered in the Cayman Islands, with Wei Youchun as the sole director [3] - The restructuring actions taken by Tasting resemble the common "two-step" process for establishing a red-chip structure for overseas listings, suggesting a high probability of a Hong Kong IPO [3] - Tasting ranked 42nd in the Hong Kong Red Restaurant Index Top 100 in May 2025 and had previously announced plans to go public within five years back in 2021 [4] Group 3 - As of June 11, 2025, Tasting operates approximately 9,600 stores across 310 cities in 29 provinces [4] - The company has received investments from notable firms including Source Code Capital, Uncertainty Venture, and Red Shirt [4] - The founders of Tasting are Wei Youchun, Yang Keying, and Yang Bing [4]