New Stock News | Teway Food submits application to Hong Kong Stock Exchange as China's fourth largest compound seasoning company

According to the Hong Kong Stock Exchange's disclosure on October 30, Sichuan Teway Food Group Co., Ltd. (referred to as: Teway Food, 603317.SH) has submitted a listing application to the main board of the Hong Kong Stock Exchange, with China International Capital Corporation as the sole sponsor. The prospectus shows that Teway Food is a leading and rapidly growing compound seasoning company in China. According to Frost & Sullivan, based on 2024 revenue, the company is the fourth largest compound seasoning company in China and the fastest-growing among the top five compound seasoning companies in China (2022-2024). According to the same source, based on 2024 revenue, the company is the largest recipe-based seasoning company and the second largest hot pot seasoning company in China, with market shares of 9.7% and 4.8%, respectively. The company adheres to strict food safety and quality control standards, continuously advancing systematic product research and development and ongoing innovation to create high-quality compound seasonings. The company remains true to the traditional essence of Chinese flavors and revitalizes it through modern techniques, developing representative flavors and formulas while continuously exploring innovative products that integrate cuisines from around the world to meet the increasingly diverse needs of consumers. The company's products are launched under six brands, each positioned to serve specific customer groups and focus on specific product categories: covering diverse consumption scenarios and sales channels, namely, Hao Ren Jia, Da Hong Pao, Tian Che, Teway Food Professional Seasoning Customization, Shi Cui Fang, and Jia Dian Zi Wei. The company's diversified and differentiated brand portfolio can generate strong synergies and cross-selling opportunities, helping to cover a wide range of consumption scenarios in the compound seasoning market and meet the diverse needs of consumers. The company offers a comprehensive product portfolio that includes various compound seasoning products, specifically: Recipe-based seasonings. These products mainly include (i) fish seasonings; (ii) crayfish seasonings; (iii) sausage and cured meat seasonings; and (iv) other recipe-based seasonings. Hot pot seasonings. These products mainly include: (i) spicy hot pot base; (ii) non-spicy hot pot base; and (iii) dipping sauces and others. Sauces and others. These products mainly include various ready-to-eat sauces and other compound seasoning products. The company has established a vast sales network covering the entire country and has been actively reaching consumers through various channels. Sales channels include a wide distribution network and direct sales channels. After years of refined operations and deep cultivation of channels, the company's sales and distribution network has achieved online and offline full-channel coverage, reaching over 1 million terminal outlets. According to Frost & Sullivan, among listed companies specializing in compound seasoning business, the company's terminal outlet coverage rate ranks first. As of June 30, 2025, the company has 3,251 distributors covering all provinces and almost all prefecture-level administrative regions in the country. Meanwhile, the company is actively expanding into international markets and enhancing global brand awareness through global distributors, with products sold in over 50 countries and regions In terms of performance, for the six months ended June 30 in 2022, 2023, 2024, and 2025, the company achieved revenues of approximately RMB 2.676 billion, RMB 3.126 billion, RMB 3.447 billion, and RMB 1.373 billion, respectively; during the same period, the profits were approximately RMB 341 million, RMB 466 million, RMB 645 million, and RMB 202 million.