一条街，跨越历史，镌刻着时代印记，也见证着城市变迁：1950年，重庆第一家百货商场——重庆百货 在解放碑营业；1989年，重庆第一家外资企业——金夫人落户解放碑；1997年，解放碑建成西部第一条 商业步行街，享有"西部第一街"美誉，同年，重庆首家港资现代化大型购物中心——大都会开业……这 些承载着几代重庆人记忆的商业地标，一直是解放碑步行街的重要组成部分。 为让解放碑商圈"老树发新芽"，进一步推动文化和商业齐头并进，渝中区坚持高起点规划布局： 夜幕降临，灯火渐次点亮，解放碑商圈十字金街上人群熙来攘往。抗战胜利纪功碑暨人民解放纪念碑 前，年轻游客正专心倾听当地人讲重庆老故事；重庆百货大楼门口，提着购物袋的市民与举着相机的游 客擦肩而过；八一路好吃街上，酸辣粉、重庆小面、冰汤圆等小吃琳琅满目，香气裹着锅气在街头巷尾 弥漫开来…… 解放碑商圈，坐落于重庆市渝中区，自古以来商贾云集、人文荟萃。经过多年发展，如今，老字号、老 建筑和新业态、新空间在这里交织相融，文脉赓续、商脉焕新，吸引了来自天南海北的消费者，不断升 腾的烟火气，推动消费市场释放新活力。 文化传承，添彩城市消费新地标 2003年，重庆市人民政府将解放碑确 ...

Core Insights - The opening of the 500th store of the Chinese restaurant chain "Yujian Xiaomian" in Singapore marks a significant step in its global expansion strategy following its successful listing on the Hong Kong Stock Exchange on December 5, 2025 [1][8] - Singapore is chosen as the strategic starting point for overseas market entry due to its diverse market environment and high consumer demand for quality Chinese cuisine [2][4] Group 1: Expansion Strategy - The first overseas store is located on Orchard Road, a prime commercial area in Singapore, which is expected to attract significant consumer traffic and establish the brand as a representative of Chinese cuisine in the region [2][3] - The company plans to use Singapore as a model for local success, aiming to accumulate international operational experience and create a replicable system for future expansion into Southeast Asia and beyond [2][5] Group 2: Market Potential - The global restaurant market is projected to reach $3.8 trillion by 2026, with Chinese cuisine's market share increasing annually, indicating a favorable environment for expansion [4] - As of the end of 2024, around 60 Chinese restaurant brands have opened over 6,100 stores in Southeast Asia, with Singapore being a key market for brand entry [2] Group 3: Operational Strategy - Yujian Xiaomian is deploying a comprehensive digital empowerment system in its overseas stores, covering various operational aspects from digital ordering to intelligent kitchen management, aiming to match operational efficiency with domestic standards [4][5] - The company is collaborating with large-scale supply chain partners to address challenges such as high logistics costs and sourcing quality local ingredients, enhancing its expansion capabilities [5] Group 4: Product Differentiation - The brand leverages global food trends by focusing on noodles and spicy flavors, which resonate with international consumers, while also adapting its menu to local tastes in Singapore [7] - The introduction of localized products, such as drinks inspired by local coffee culture and traditional snacks, enhances the brand's appeal and customer experience [7] Group 5: Vision and Future Outlook - The CEO of Yujian Xiaomian expressed confidence in the brand's ability to succeed internationally, emphasizing the potential of Chinese culinary culture and operational models in global markets [8] - The company aims to establish Chongqing noodles as a mainstream global food category, reinforcing its vision of "Chinese noodles, global encounters" [8]

Core Insights - The opening of the 500th store of "Yujian Xiaomian" in Singapore marks a significant step in the company's global expansion strategy following its successful listing on the Hong Kong Stock Exchange on December 5, 2025 [1] - The company aims to leverage Singapore as a model for localized success, building a comprehensive operational capability that includes supply chain, management, and brand marketing to facilitate further expansion into Southeast Asia and beyond [2] Company Strategy - "Yujian Xiaomian" is focusing on creating a replicable core model for international operations, emphasizing the importance of localized operational experience to support its global vision of "Chinese noodles, global encounters" [2] - The company plans to deploy a self-developed digital empowerment system in its overseas stores, which covers various operational aspects from digital ordering to intelligent kitchen scheduling, enhancing operational efficiency to match domestic standards [2][3] Market Trends - The global dining market is experiencing continuous growth, presenting opportunities for Chinese cuisine brands like "Yujian Xiaomian" [2] - The brand is capitalizing on two global food trends: the universal appeal of noodles and the rising popularity of spicy flavors, particularly the unique "mala" taste from Sichuan and Chongqing [3] Product Localization - "Yujian Xiaomian" is adapting its menu to local tastes in Singapore by introducing products that resonate with local culinary preferences, such as drinks inspired by local coffee culture and traditional snacks [3] Future Outlook - The company aims to establish Chongqing noodles as a mainstream global food category, further embedding Chinese culinary culture into the global dining scene [4]

Core Insights - The opening of the 500th store of the Chinese restaurant chain "Yujian Xiaomian" in Singapore marks a significant step in its global expansion strategy following its successful listing on the Hong Kong Stock Exchange on December 5, 2025 [1][11] - Singapore is chosen as the strategic starting point for overseas expansion due to its diverse market environment and high consumer demand for quality Chinese cuisine [3][5] Group 1: Strategic Expansion - The first overseas store is located on Orchard Road, a prime commercial area in Singapore, which is expected to attract significant consumer traffic and serve as a model for future international operations [3][5] - The brand aims to leverage Singapore as a launchpad to build a successful localized operational model, enhancing its capabilities in supply chain, management, and marketing [3][6] Group 2: Market Potential - The global restaurant market is projected to reach $3.8 trillion by 2026, with Chinese cuisine's market share steadily increasing [6][7] - The demand for quality Chinese dining in Singapore, coupled with the brand's established product system, is expected to lead to rapid customer traffic and revenue growth for the new store [5][6] Group 3: Operational Strategy - Yujian Xiaomian plans to implement a comprehensive digital empowerment system in its overseas locations, covering various operational aspects from ordering to backend management [7] - The company will collaborate with large-scale supply chain partners to address challenges such as high logistics costs and sourcing quality local ingredients [7] Group 4: Cultural Integration - The brand's strategy includes offering localized menu items that cater to Singaporean tastes while maintaining the essence of Sichuan cuisine, enhancing its appeal to local consumers [10][11] - The focus on transparency in pricing and customizable dining experiences aims to improve customer satisfaction and trust [10] Group 5: Vision for Globalization - The CEO of Yujian Xiaomian emphasized that the opening of the 500th store represents a new beginning, with confidence in the ability of Chinese culinary culture and operational models to succeed in international markets [11] - The company aims to establish Chongqing noodles as a mainstream global food category, contributing to the internationalization of Chinese culinary culture [11]

智通财经APP获悉，2025年12月29日，中式餐饮连锁品牌遇见小面(02408)全球第500家门店暨新加坡首 店，在新加坡当地潮流商业地标乌节路313@Somerset正式揭幕。此次海外首店的落地，是遇见小面于 2025年12月5日成功登陆香港交易所主板上市后，在全球化征程中迈出的关键一步，标志着品牌正式开 启海外市场布局，将承载川渝特色的中式小面推向世界美食舞台，为中式餐饮国际化发展注入新活力。 据悉，遇见小面在新加坡的拓展步伐正持续加速，新加坡淡滨尼广场店及其他门店也已在筹备中，将很 快与当地消费者见面。 战略锚定新加坡乌节路：抢占狮城商业高地，构筑海外拓展核心支点 新加坡，凭借其多元包容的市场环境、高成熟度的消费生态与辐射东南亚的枢纽优势，成为遇见小面布 局海外市场的战略起点。然而，选址乌节路这一新加坡商业的"黄金命脉"落子首店，更彰显了品牌进军 全球的精准判断力与宏大视野。作为新加坡最具影响力的顶级商圈，乌节路不仅是汇集全球潮牌、高端 业态的"城市商业橱窗"，更承载着每年千万级全球游客与本地高净值客群的核心消费流量——74%的华 裔人口构成天然亲近中式风味的客群基础，多元国际社群则为品牌提供了绝佳的 ...

Core Insights - The opening of the 500th store of the Chinese restaurant chain "Yujian Xiaomian" in Singapore marks a significant step in its global expansion strategy following its successful listing on the Hong Kong Stock Exchange on December 5, 2025 [1][10] - Singapore is chosen as the strategic starting point for overseas expansion due to its diverse market environment and high consumer demand for quality Chinese cuisine [3][6] Group 1: Strategic Location and Market Potential - The first store is located on Orchard Road, a prime commercial area in Singapore, which attracts millions of global tourists and local high-net-worth individuals, providing a strong customer base for the brand [3][4] - The demographic composition of Singapore, with 74% of the population being of Chinese descent, creates a natural affinity for Chinese flavors, enhancing the brand's market entry [3][4] - By the end of 2024, around 60 Chinese restaurant brands are expected to have opened over 6,100 stores in Southeast Asia, indicating a significant growth opportunity in the region [3] Group 2: Business Outlook and Operational Strategy - The store is anticipated to quickly achieve both customer traffic and revenue breakthroughs, establishing itself as a representative outlet for Chinese cuisine in the region [4] - The global restaurant market is projected to reach $3.8 trillion by 2026, with Chinese cuisine's share steadily increasing, presenting a favorable growth outlook [6] - To address challenges such as high labor costs and stringent regulations in mature markets like Singapore, the company plans to implement a comprehensive digital empowerment system for its overseas stores [6][7] Group 3: Supply Chain and Cost Management - The company aims to collaborate with large-scale supply chain partners to mitigate high cross-border logistics costs and sourcing difficulties for quality local ingredients [7] - This strategic shift from traditional expansion methods to a system-based digital approach is expected to enhance operational efficiency and support both domestic and international market growth [7] Group 4: Cultural Integration and Consumer Experience - The brand leverages global food trends by focusing on noodles and spicy flavors, which resonate with international consumers, while maintaining the essence of Sichuan cuisine [9][10] - Localized menu offerings, such as drinks inspired by local coffee culture and traditional snacks, enhance the brand's appeal to Singaporean consumers [9] - The company emphasizes transparent pricing and customizable dining experiences, which improve customer satisfaction and trust [9] Group 5: Future Vision and Global Impact - The CEO of Yujian Xiaomian views the opening of the 500th store as a new starting point for the brand's global journey, believing in the potential of Chinese culinary culture to thrive internationally [10] - The company's ongoing global expansion efforts aim to establish Chongqing noodles as a mainstream food category worldwide, contributing to the global appreciation of Chinese culinary culture [10]

公开资料显示，遇见小面创立于2014年，先后获九毛九集团、百福控股、碧桂园创投和喜家德注资。该品牌已遍布北京、上海、广州、深圳、香港等多个 城市。 对于公司发展的相关事项，《中国经营报》记者联系遇见小面并发送采访函，但截至发稿未收到回复。 近日，遇见小面（02408.HK）在港交所主板正式挂牌，成为"中式面馆第一股"。不过，公司股价开盘即低开近29%，最终收盘报5.08港元/股，较发行价 7.04港元下跌27.84%，对应总市值约36.1亿港元。 实际上，在此前，遇见小面引入了包括高瓴资本旗下HHLR Advisors、海底捞新加坡公司等基石投资者，这些机构合计认购2200万美元股份，约占募集资 金总额的25%。 首日破发 12月5日，遇见小面在香港交易所上市。上市首日破发，股价跌27.84%，收盘报5.08港元/股，总市值为36.1亿港元。 据披露，公司全球共发行9736.45万股H股，占发行后总股本的13.7%，发行价定为每股7.04港元，总发行规模约6.85亿港元。其中香港公开发售973.65万 股，实现425.97倍的超额认购；国际发售8762.8万股。 在本次发行中，遇见小面基石投资者分别为高瓴旗下 ...

今年7月底，在遇见小面二次递表港交所前夕，奇昕控股以4800万元对价转让所持遇见小面1.71%的股 权。此次股权转让并未影响资本市场对遇见小面的投资热情。港股招股书显示，其基石投资者中不乏明 星机构，包括高瓴资本旗下HHLRA、君宜香港基金、国泰君安证券、海底捞新加坡等，认购总额约为 1.71亿港元。 来源：滚动播报 （来源：经济参考报） "中式面馆第一股"遇见小面（02408.HK）登陆港交所主板后上市首日便迎来破发，12月5日以5.08港元/ 股收盘，较发行价7.04港元/股缩水27.84%。截至记者发稿，遇见小面每股股价在5港元附近徘徊，始终 处于发行价下方。《经济参考报》记者注意到，遇见小面三年多门店数量增长300余家，但门店高速扩 张与上市遇冷形成较大反差，同时反映出餐饮连锁品牌高质量发展面临新挑战。 遇见小面2014年从广州首店起步，现已发展为以重庆小面系列产品为主打的中式餐饮连锁品牌。根据弗 若斯特沙利文的资料，2022年至2024年，其重庆小面、豌杂面和酸辣粉线下销售量在所有中国连锁餐厅 中排名第一。目前，公司产品已扩展到各种菜品，涵盖面条、米饭、小吃和饮料。 2014年，深耕餐饮行业的个人投 ...

Core Viewpoint - The IPO of "Yujian Xiaomian" (02408.HK), a Chinese noodle chain, faced significant market challenges, with its stock price dropping substantially on the first trading day, reflecting a disconnect between high valuations and actual market performance [1][3][19] Group 1: IPO Performance - Yujian Xiaomian's IPO was priced at HKD 7.04 per share, but it opened at HKD 5.00, a decline of 28.98%, and closed at HKD 5.08, down 27.84% on its first day [1][3][4] - The company had a strong IPO backing, with cornerstone investors subscribing to USD 22 million (approximately HKD 171 million), representing 25% of the total fundraising [3][4] Group 2: Industry Trends - The noodle restaurant industry is experiencing a cooling period, with leading brands reducing their expansion efforts and facing a decline in financing activity [5][6] - The overall market for Chinese noodle restaurants is projected to grow from RMB 1,833 billion in 2020 to RMB 2,962 billion by 2024, with a compound annual growth rate of 12.7% [10] Group 3: Company Performance - Yujian Xiaomian expanded its store count from approximately 170 at the end of 2022 to 451 by mid-2025, achieving a compound annual growth rate of nearly 50% [6][10] - Despite rapid expansion, the company faced declining performance metrics, with average customer spending dropping from RMB 36.2 to RMB 31.8, a decrease of 12.1% [6][10] Group 4: Valuation Concerns - The company's pre-IPO valuation was significantly high, with a price-to-earnings ratio around 70, which is well above the typical range of 10-25 for the restaurant industry [7][10] - The aggressive expansion strategy raised concerns about sustainability and profitability, leading to skepticism among investors [8][9] Group 5: Market Dynamics - The competitive landscape is characterized by a fragmented market with over 99% of noodle restaurants having registered capital below RMB 1 million, indicating a lack of strong brand presence [10] - Yujian Xiaomian's market share is projected to be only 0.5% by 2024, highlighting the intense competition from numerous small and independent noodle shops [10] Group 6: Strategic Insights - The company needs to focus on optimizing its single-store profitability rather than merely expanding the number of locations, which has led to a dilution of quality and customer experience [11][12] - Enhancing customer experience and service quality is crucial for improving market acceptance and brand value, as consumer satisfaction directly impacts store performance [12][14]

近日，港交所迎来了一场意料之外的"冷遇"。 头顶"新式面馆第一股"光环的遇见小面正式挂牌交易，却以5港元/股的开盘价较发行价7.04港元暴跌28.98%，市值瞬间蒸发超14亿港元。 这一幕与此前香港公开发售阶段425倍的超额认购、高瓴资本等明星基石投资者的站台形成鲜明反差。 这种"硬科技"改造迅速吸引了市场的关注。 作为中式面馆赛道首个登陆资本市场的品牌，遇见小面的破发不仅折射出餐饮板块的寒意，更揭开了新消费赛道从狂热回归理性的深层阵痛。 当"网红经济"退潮、消费理性崛起，那些曾靠资本催熟、流量堆砌的新消费品牌，如何在规模扩张与盈利可持续性之间找到平衡？ | 资本催熟的"面馆神话" | 遇见小面的故事还要从2014年说起。 彼时，三位华南理工大学的毕业生在广州体育东横街开出一家30平方米的小面馆，将重庆小面这一地方风味带入大众视野，遇见小面的品牌故事自此开 篇。 凭借地道风味与精准定位，这家小店迅速在当地出圈，甚至在2015年创下单店33.8次的翻台纪录，远超同期绿茶、外婆家等知名餐饮品牌的翻台水平。 遇见小面的崛起并非典型的草莽逆袭，而是一场由资本主导的"技术流"扩张。 创始团队宋奇、苏旭翔、罗燕灵均拥有麦 ...