---
title: "MingMing is very busy, raising 3.9 billion, introducing Tencent, Fidelity, and Temasek as cornerstone investors"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/272977700.md"
description: "Mainland food and beverage retailer Mingming is busy planning to build a book as early as Tuesday, raising between USD 400 million to 500 million, with Tencent, Fidelity International, and Temasek serving as cornerstone investors. The company is projected to be the largest leisure food and beverage chain retailer in China by GMV in 2024, with last year's GMV reaching RMB 66.1 billion, an increase of 74.5%. The fundraising will be used to enhance supply chain, product development, store upgrades, and brand promotion. Other companies such as Muyuan Foods, Shangmi Technology, and Huichuan Technology are also preparing for IPOs or fundraising"
datetime: "2026-01-19T13:29:09.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/272977700.md)
  - [en](https://longbridge.com/en/news/272977700.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/272977700.md)
---

# MingMing is very busy, raising 3.9 billion, introducing Tencent, Fidelity, and Temasek as cornerstone investors

According to comprehensive foreign media reports, mainland food and beverage retailer MingMing is very busy. Following its listing hearing earlier this month, it plans to build a book as early as Tuesday (20th) to raise between USD 400 million to 500 million (approximately HKD 3.1 billion to 3.9 billion). Reports indicate that Tencent (700), Fidelity International, and Temasek will serve as cornerstone investors.

## China's Largest Snack Food and Beverage Product Retailer

MingMing's main brands include "Snacks are Busy" and "Zhao Yiming Snacks." The company is expected to be the largest snack food and beverage product chain retailer in China by GMV in 2024, and it is also the fourth largest food and beverage product chain retailer in China. In the first three quarters of last year, the company's GMV recorded RMB 66.1 billion, a year-on-year increase of 74.5%. As of the end of the period, it had 19,500 stores.

The prospectus shows that the funds raised by MingMing will be used to enhance supply chain capabilities and product development capabilities, upgrade store networks, build and promote the brand, improve technological capabilities and digitalization levels, seek acquisition opportunities that complement its business, and for general corporate purposes.

## Muyuan Foods Conducts Roadshow, May Raise RMB 11.7 Billion

In addition, foreign media reports indicate that pig farming leader, A-share Muyuan Foods, has begun its pre-roadshow, with fundraising potentially reaching USD 1.5 billion (approximately HKD 11.7 billion), with the earliest listing in February.

## Sunmi Technology May Go Public in February

As for Sunmi Technology, which has investments from Ant Group, Meituan (3690), and Xiaomi (1810), it is also reported to be listed as early as February, raising approximately USD 150 million.

## Huichuan Technology Plans to Issue H Shares in Hong Kong

On the other hand, A-share industrial robot manufacturer Huichuan Technology, with a market value of over RMB 217.3 billion, announced that it is planning to issue H shares and list in Hong Kong.

## Jiuwu Intelligent Applies for Listing in Hong Kong

Meanwhile, mainland intelligent embodied industry robot company Jiuwu Intelligent has submitted an application for listing in Hong Kong, with clients from high-tech fields such as clean energy technology, electronics and semiconductors, and optical modules. CICC and Citigroup are the sponsors

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- [605179.CN](https://longbridge.com/en/quote/605179.CN.md)

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