点评：海天味业启动招股，计划筹资超90亿港元，显示其扩展国际市场的决心。作为调味品龙头，其品 牌与市场份额优势明显，此次上市将增强国际竞争力并推动业务创新。基石投资者的参与提振市场信 心，但投资者也需关注二级市场波动风险。 每经记者｜舒冬妮 每经编辑｜张益铭 ｜2025年6月12日 星期四｜ NO.1 海天味业启动招股 海天味业计划于2025年6月11日至16日招股，拟全球发售2.63亿股H股，其中香港公开发售占6%，国际 发售占94%，并有15%的超额配股权。每股发售价35至36.3港元，预期于6月19日在联交所上市。此次H 股发行引入了源峰基金、佛山发展等多家基石投资者，基石投资总额达5.95亿美元。若按中间价35.65港 元计算，预计全球发售所得款项净额约92.71亿港元。 点评：云南旅游连亏四年，经营压力持续加大，董事减持计划进一步凸显公司面临的困境。尽管此次减 持比例较小，但可能引发市场对公司治理和未来发展的担忧，短期内或加剧股价波动。投资者需关注公 司后续的经营改善措施，以及潜在的市值管理动作，以评估其长期投资价值。 NO.4 知情人士称泡泡玛特年初已扩产能 据媒体记者从知情人士处获悉，随着IP（ ...

Group 1: McDonald's Expansion in China - McDonald's plans to open nearly half of its new restaurants in China this year, with over 90% of its raw materials sourced locally [2][4] - The company has over 7,000 restaurants in China and aims to continue its expansion in the market [2] Group 2: Mousse Cake Brand Mùsānshān Controversy - The brand Mùsānshān, which has opened 800 stores in one year, faces controversy over selling pre-made frozen cakes as freshly made, infringing on consumer rights [4][5] - Mùsānshān's products are priced between 98 to 398 yuan, with most stores being partnerships rather than direct ownership [5] Group 3: Huǒshànghuǒ's Store Expansion Goals - Huǒshànghuǒ aims to increase the proportion of high-potential stores in its expansion strategy, focusing on both deepening existing markets and exploring new ones [6] - The company targets a revenue of 2.1 billion yuan and a net profit of 145 million yuan for the year 2025 [6] Group 4: Haitian Flavor Industry's IPO Plans - Haitian Flavor Industry is evaluating investor demand for a potential IPO on the Hong Kong Stock Exchange, aiming to raise approximately $1 billion [7] Group 5: Tims Coffee and Sinopec Partnership - Tims Coffee has ceased operations at all five cooperative stores with Sinopec in Shandong, transitioning to "Yijie Coffee" branding [8] Group 6: Cha Baidao's New Store Concept - Cha Baidao has launched its first handmade store "Cha Baidao·Tàn Chuān Mì Yǐn" in Chengdu, featuring a unique day-to-night concept with a focus on tea and alcohol [9]