On March 3rd, MIXUE GROUP officially listed on the Hong Kong stock market, opening over 29% higher on its first day, at HKD 262 per share, with a total market capitalization reaching HKD 98.8 billion, breaking the curse of new tea beverage stocks debuting below their offering price. The issue price for MIXUE GROUP was HKD 202.5 per share, which means that investors who subscribed for one lot could earn nearly HKD 6,000, equivalent to about 1,000 cups of MIXUE ice city milk tea.
On February 26th, the public offering phase for MIXUE GROUP ended with a subscription multiple of 5,125 times, raising a total of HKD 1.77 trillion, setting a new record for new stock subscriptions in the Hong Kong market. On February 28th, MIXUE GROUP's dark market trading surged over 30% at one point.
The prospectus shows that MIXUE GROUP focuses on high-quality, affordable freshly made fruit drinks, tea drinks, ice cream, and coffee products, with an average price of about 6 RMB (approximately 1 USD). It operates the freshly made tea brand &#34;MIXUE Ice City&#34; and the freshly ground coffee brand &#34;Lucky Coffee.&#34; As of September 30, 2024, MIXUE GROUP's store network, developed through a franchise model, has over 45,000 stores, covering China and 11 other countries overseas.
In 2023 and the first nine months of 2024, MIXUE GROUP's store network achieved beverage sales volumes of approximately 7.4 billion cups and 7.1 billion cups, respectively. In 2021, 2022, 2023, and the first nine months of 2024, MIXUE GROUP's store network achieved terminal retail sales of approximately 22.8 billion RMB, 30.7 billion RMB, 47.8 billion RMB, and 44.9 billion RMB, respectively.
The prospectus indicates that in 2022, 2023, and the first nine months of 2024, MIXUE GROUP achieved revenues of 13.6 billion RMB, 20.3 billion RMB, and 18.7 billion RMB, with year-on-year growth rates of 31.2%, 49.6%, and 21.2%, respectively; net profits were 2 billion RMB, 3.2 billion RMB, and 3.5 billion RMB, with year-on-year growth rates of 5.3%, 58.3%, and 42.3%.
MIXUE GROUP cites a report from Frost &amp; Sullivan, stating that based on terminal retail sales in 2023, it is the number one freshly made beverage company in China and the fourth globally, with market shares of 11.3% in China and 2.2% globally

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On its first day of listing, MIXUE GROUP opened over 29% higher, at HKD 262 per share, with an issue price of HKD 202.5 per share. A single lot of shares earned nearly HKD 6,000, equivalent to about 1,000 cups of MIXUE ice city milk tea

- On March 3, Mijue Group officially listed on the Hong Kong Stock Exchange, opening over 29% higher at HKD 262 per share, with a total market value of HKD 98.8 billion.  
- The company achieved a subscription multiple of 5,125 times during its public offering, raising a record HKD 1.77 trillion, and operates over 45,000 stores across China and 11 other countries.  
- Mijue Group reported significant revenue growth, with 2023 revenue reaching HKD 203 billion, and is recognized as the leading ready-to-drink beverage company in China by retail sales.  

Investing in "Snow King," earning 1,000 cups of milk tea on the opening hand