"Yuanji Cloud Dumpling" parent company Yuanji Food applies for listing in Hong Kong, with nearly 4,300 branches

Yuanji Food, the Chinese fast food company operating the "Yuanji Cloud Dumpling" brand, has applied for a listing in Hong Kong, with Huatai International and GF Securities serving as joint sponsors.

Preliminary prospectus information shows that as of the end of September last year, Yuanji Food had 4,266 stores, covering over 200 cities nationwide, most of which are franchise stores, including 48 stores in Hong Kong and Macau and 5 stores in Singapore. The total GMV of its stores reached nearly RMB 4.79 billion, an annual growth of approximately 6.4%.

For the first three quarters ending September last year, Yuanji Food recorded revenue of RMB 1.982 billion, an annual growth of nearly 11%, with profit increasing by 18.8% to RMB 142 million during the period. The group plans to use the funds raised from the Hong Kong listing for digital and intelligent construction; expanding overseas supply chain development, accelerating overseas market expansion, and exploring potential investment and acquisition opportunities abroad; brand building and product research and development; as well as upgrading the supply chain, among other purposes