New Stock News | BaMa Tea has passed the hearing of the Hong Kong Stock Exchange, and the company is the number one in national sales of high-end Chinese tea

According to the Hong Kong Stock Exchange's disclosure on October 12, Ba Ma Tea has passed the listing hearing on the main board of the Hong Kong Stock Exchange, with Huatai International, Agricultural Bank of China International, and Tianfeng International as joint sponsors. According to the prospectus, Ba Ma Tea is a well-known tea supplier in China, with products covering all six major categories of tea in China, as well as non-tea products such as tea sets and tea snacks. Based on sales revenue, the high-end tea market in China is showing rapid growth, with the market size increasing from approximately RMB 89 billion in 2020 to approximately RMB 103.1 billion in 2024, representing a compound annual growth rate of about 3.7%. It is expected to reach approximately RMB 135.3 billion by 2029, with a compound annual growth rate of about 5.6% from 2024 to 2029. Ba Ma Tea has achieved the market position of "the highest national sales of high-end Chinese tea" due to its advantages in brand value, tea-making skills, product development capabilities, large-scale operational capabilities, channel operation capabilities, cross-regional expansion capabilities, supply chain management capabilities, digital sales platforms, and talent teams. The company primarily sells products to franchisees, e-commerce platforms, and retail consumers through direct online and offline stores. Consumers who shop at offline stores can become members of Ba Ma Tea's offline stores. Additionally, consumers can register as members through various online channels. As of the last practicable date, the number of its members has exceeded 26 million. Ba Ma Tea's revenue increased from approximately RMB 1.818 billion for the year ended December 31, 2022, to approximately RMB 2.122 billion for the year ended December 31, 2023, and further increased to approximately RMB 2.143 billion for the year ended December 31, 2024. Ba Ma Tea's profit and total comprehensive income increased from approximately RMB 166 million for the year ended December 31, 2022, to approximately RMB 206 million for the year ended December 31, 2023, and further increased to approximately RMB 224 million for the year ended December 31, 2024.