Group 1 - The core viewpoint of the article highlights the rapid expansion and performance of Green Tea Group, with a significant increase in both domestic and international restaurant locations [2][3]. - As of June 30, the number of Green Tea's offline restaurants reached 502, indicating accelerated coverage in key economic regions such as East China, Guangdong, and North China, as well as strong growth in overseas markets [2]. - Green Tea plans to further expand into Southeast Asia, with the opening of its first restaurant in Singapore by the end of August, followed by locations in Thailand, Macau, and Malaysia by the end of the year, aiming for a total of 15 overseas restaurants in 2023 [3]. Group 2 - The company’s original plan to open 30 overseas restaurants between 2024 and 2027 may be completed ahead of schedule by 2026 due to the accelerated pace of expansion [3].

Core Viewpoint - Green Tea Group's IPO did not perform as well as expected, with a significant drop in stock price on the first day of trading, indicating potential challenges in consumer interest and market positioning [2][6]. Company Overview - Green Tea Group was established in 2008 and primarily operates Green Tea restaurants, with its first location in Hangzhou [2]. - The company has expanded its restaurant count from 236 to 489 since 2022, with plans to open over 500 new restaurants in the next three years [8]. IPO Details - The company launched a global offering of 168 million shares, with approximately 30% being existing shares and 70% new shares [3]. - The IPO saw a subscription rate of 317.54 times during the public offering phase, with 50% of the shares allocated to this segment [6]. Market Performance - On the first day of trading, Green Tea Group's stock price fell by 12.52%, closing at HKD 6.290 [2]. - The company faced challenges in maintaining customer interest, as evidenced by a lack of crowds in its restaurants during recent visits [7]. Sales Performance - In 2024, the same-store sales decreased by 10.3%, with average sales per restaurant dropping from 11.519 million yuan in 2023 to 10.33 million yuan [9][10]. - The average consumer spending also declined from 61.8 yuan in 2023 to 56.2 yuan in 2024, indicating a shift in consumer behavior [10]. Strategic Plans - Green Tea Group aims to diversify its menu to enhance sales and improve turnover rates, planning to introduce regional specialties while maintaining its signature dishes [10].

Core Viewpoint - Green Tea Group Limited plans to launch an IPO from May 8 to May 13, 2025, aiming to raise approximately HKD 1.211 billion through the issuance of 168.364 million shares at a price of HKD 7.19 per share [1][3]. Group 1: IPO Details - The IPO will consist of 117.854 million new shares and 50.5092 million shares for sale by existing shareholders [1]. - Partners Gourmet, the selling shareholder, will see its stake in Green Tea Group decrease from approximately 28.2% to about 15.76% post-IPO, and further to around 7.50% after the sale of shares [5]. Group 2: Company Overview - Green Tea Group operates a chain of casual Chinese restaurants, with the number of restaurants expected to grow from 276 at the end of 2022 to 489 by April 2025 [5]. - The company ranks third and fourth in the Chinese casual dining sector by restaurant count and revenue, respectively, and is the largest player focused on fusion cuisine among the top five operators [7]. Group 3: Financial Performance - Revenue figures for Green Tea Group are projected at approximately RMB 2.375 billion, RMB 3.589 billion, and RMB 3.838 billion for the years 2022, 2023, and 2024, respectively [7]. - Net profit is expected to rise from approximately RMB 16.58 million in 2022 to RMB 350.17 million in 2024, with adjusted net profit figures of RMB 25.22 million, RMB 30.3 million, and RMB 36.1 million for the same years [7][9]. Group 4: Revenue Breakdown - In 2024, restaurant operating income is estimated at RMB 3.099 billion, a slight increase of 1.3% from 2023, while takeaway business revenue is projected to grow by 39.8% to RMB 723 million, accounting for 18.8% of total revenue [10]. - The average spending per customer decreased from RMB 61.8 in 2023 to RMB 56.2 in 2024, while the table turnover rate also declined from 3.30 times in 2023 to 3.00 times in 2024 [10]. Group 5: Dividend Policy - Green Tea Group plans to declare a special dividend of no less than RMB 180 million to shareholders by December 2025, contingent on retained earnings from subsidiaries [11].

计划于2025年、2026年和2027年分别开设150家、200家和213家新餐厅。 本文由公众号IPO早知道（ID：ipozaozhidao）原创撰写，如需转载请联系C叔↓↓↓ 本文为IPO早知道原创 作者｜ Stone Jin 微信公众号｜ipozaozhidao 据 IPO早知道消息， 绿茶集团有限公司 （以下简称 "绿茶集团"）日前已通过港交所聆讯并于4月23 日披露通过聆讯后的资料集，花旗和招银国际担任联席保荐人。 2008年，绿茶集团在西子湖畔开设了第一家绿茶餐厅。截至2024年 4 月 14 日，绿茶集团已开设 4 89 家餐厅，覆盖中国 21个省份、四个直辖市 、 两个自治区 以及 香港 特别行政区 。 根据灼识 咨询的 报告， 2024年 在中国内地 休闲 中式餐厅品牌中，绿茶集团按餐厅数目计排名第 三，按收入计排名第四。 其中， 绿茶集团的餐厅总数由截至 2022年12月31日的276家 以 29.8% 的复合年增长率 增至截至 2024年12月31日的465家。 2024年， 绿茶集团开设了 120家新餐厅，并计划于2025年、2026年 和 2027年分别开设150家、 200家 和 ...