--- title: "Mainland snack company Mingming is busy with its IPO, with a high entry price of nearly 24,000. Tencent and other cornerstone investors are involved, and it has over 19,000 stores" type: "News" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/273022646.md" description: "Mainland snack company Mingming (1768) is busy starting today until the 23rd for its IPO, planning to issue 14.1011 million H shares, with an offering price of HKD 229.6 to HKD 236.6, raising a maximum of approximately HKD 3.34 billion. The entry fee is HKD 23,898.62, and it is expected to be listed on January 28. It has introduced Tencent, Temasek, and 8 cornerstone investors, with a subscription amount reaching USD 195 million. The group has 19,517 stores in China, with a projected GMV of RMB 66.1 billion in 2024, making it the largest chain retailer in China based on the GMV of leisure food and beverage products in 2024" datetime: "2026-01-20T02:55:36.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/273022646.md) - [en](https://longbridge.com/en/news/273022646.md) - [zh-HK](https://longbridge.com/zh-HK/news/273022646.md) --- > 支持的语言: [English](https://longbridge.com/en/news/273022646.md) | [繁體中文](https://longbridge.com/zh-HK/news/273022646.md) # Mainland snack company Mingming is busy with its IPO, with a high entry price of nearly 24,000. Tencent and other cornerstone investors are involved, and it has over 19,000 stores Mainland snack company "Busy Snacks" and "Zhao Yiming Snacks" parent company Mingming Hen Mang (1768) will begin its IPO from today (20th) until Friday (23rd), planning to issue 14.1011 million H shares, with 10% for public offering in Hong Kong. The offering price is between HKD 229.6 and HKD 236.6, aiming to raise up to approximately HKD 3.34 billion. Each lot consists of 100 shares, with an entry fee of HKD 23,898.62. The official listing is expected on January 28, with Goldman Sachs and Huatai as joint sponsors. ## Introduction of Tencent and Temasek among 8 cornerstone investors It is noteworthy that the stock has introduced a total of 8 cornerstone investors, including Tencent (700), Temasek, BlackRock, Fidelity, Bosera International, E Fund, Springs Capital (Hong Kong), and Taikang Life, with a total subscription amount reaching USD 195 million. The prospectus states that the group is a mature and steadily developing food and beverage retailer in China, with stores located in high-traffic, easily accessible street locations, dedicated to providing a joyful and comfortable shopping experience. As of the end of September last year, it had 19,517 stores covering 28 provinces and all tiered cities in China, with approximately 59% of the stores located in county towns and rural areas. During the period, it recorded a GMV of RMB 66.1 billion, a year-on-year increase of 74.5%. According to a Frost & Sullivan report, based on the GMV of leisure food and beverage products in 2024, the group is the largest chain retailer in China; based on the GMV of food and beverage products in 2024, it is also the fourth largest chain retailer in China, maintaining rapid growth. Data from the China Chain Store & Franchise Association shows that the group ranks among the top ten chain retailers in China in 2024 and is one of the fastest-growing chains. ## Owns "Busy Snacks" and "Zhao Yiming Snacks" Mingming Hen Mang owns two brands, "Busy Snacks" and "Zhao Yiming Snacks." The former was founded by Yan Zhou in March 2017 in Changsha, Hunan, while the latter was established by Zhao Ding in January 2019 in Yichun, Jiangxi. Both brands have achieved store expansion following the completion of acquisition matters. Products include baked goods, cookies, nuts and seeds, leisure puffed foods and instant foods, ready-to-eat foods, candies, chocolates, preserved fruits, and beverages. Additionally, the group mainly operates through a franchise model, authorizing franchisees to sell leisure food and beverages under its brand through franchise stores. In terms of financial performance, Mingming Hen Mang reported revenue of approximately RMB 46.371 billion in the last nine months, a year-on-year increase of 75%; during the period, profit was RMB 1.559 billion, nearly doubling year-on-year. As for the use of proceeds, approximately 25% will be used to enhance supply chain capabilities and improve product development capabilities; about 20% will be used for store network upgrades and continuous empowerment of franchisees; around 20% will be allocated for brand building and promotional activities; about 20% will be used to enhance technological capabilities and digitalization levels; approximately 5% will be used to selectively seek strategic investment and acquisition opportunities that complement the business; and about 10% will be used for working capital and other general corporate purposes Related articles: Mingming is very busy, raising 3.9 billion, introducing Tencent, Fidelity, and Temasek as cornerstone investors ### 相关股票 - [Tencent Holdings Limited (TCTZF.US)](https://longbridge.com/zh-CN/quote/TCTZF.US.md) - [Tencent (TCEHY.US)](https://longbridge.com/zh-CN/quote/TCEHY.US.md) - [TENCENT (00700.HK)](https://longbridge.com/zh-CN/quote/00700.HK.md) ## 相关资讯与研究 - [Hershey's Snacking Innovation Strategy Requires Robust Execution, RBC Says](https://longbridge.com/zh-CN/news/281395745.md) - [Conagra returns to organic sales growth, but inflation pressures profit](https://longbridge.com/zh-CN/news/281407582.md) - [Hershey Unveils Strategy to Lead Next Generation Snacking at 2026 Investor Day | HSY Stock News](https://longbridge.com/zh-CN/news/281178273.md) - [Conagra Brands narrows outlook on mixed results](https://longbridge.com/zh-CN/news/281366531.md) - [West Asia conflict disrupts snack exports from Bikaner, shipments disrupted](https://longbridge.com/zh-CN/news/281675016.md)