China Self-Operating Restaurant Xiaocaiyuan Files for Hong Kong IPO with Target to Raise $200 Million, Founded by Wang Shugao in 2013 & Has Network of 548 Restaurants in China
18th January 2024 | Hong Kong
China self-operating restaurant Xiaocaiyuan has filed for a Hong Kong IPO with target to raise $200 million. Xiaocaiyuan is founded by Wang Shugao in 2013, and currently has 548 self-operating restaurants in China. Profile – We are a leader in China’s rapidly expanding mass Chinese cuisine market, surpassing industry standards in both business magnitude and growth rate. Capitalizing on our deep comprehension of China’s evolving catering industry, the anticipated modernization and industrialization in the industry, and the inherent consumer demand, we strategically ventured into the burgeoning mass Chinese cuisine sector with the commitment to catering to the growing demands of Chinese consumers. By adhering to a consumer-centric ethos and harnessing the potential of standardization, digitalization, intellectualization and industrialization, we aspire to establish ourselves as the “home kitchen” widely acknowledged by Chinese consumers. We are a pioneer setting new standards in the mass Chinese cuisine sector, excelling in modernization, standardization, digitalization, intellectualization, and industrialization. Our aim is to become a leading chain restaurant group globally with an advanced modern management system. We will steadfastly focus on the mass Chinese cuisine market with the vision of “where there is Chinese, there are Xiaocaiyuan restaurants.” According to Frost & Sullivan, in terms of the restaurant revenue for the nine months ended September 30, 2023, Xiaocaiyuan ranked first among all brands in China’s mass Chinese cuisine market with average spending per consumer between RMB50 and RMB100. More info below:
“ China Self-Operating Restaurant Xiaocaiyuan Files for Hong Kong IPO with Target to Raise $200 Million, Founded by Wang Shugao in 2013 & Has Network of 548 Restaurants in China “
China Self-Operating Restaurant Xiaocaiyuan Files for Hong Kong IPO with Target to Raise $200 Million, Founded by Wang Shugao in 2013 & Has Network of 548 Restaurants in China
Xiaocaiyuan
We are a leader in China’s rapidly expanding mass Chinese cuisine market, surpassing industry standards in both business magnitude and growth rate. Capitalizing on our deep comprehension of China’s evolving catering industry, the anticipated modernization and industrialization in the industry, and the inherent consumer demand, we strategically ventured into the burgeoning mass Chinese cuisine sector with the commitment to catering to the growing demands of Chinese consumers. By adhering to a consumer-centric ethos and harnessing the potential of standardization, digitalization, intellectualization and industrialization, we aspire to establish ourselves as the “home kitchen” widely acknowledged by Chinese consumers. We are a pioneer setting new standards in the mass Chinese cuisine sector, excelling in modernization, standardization, digitalization, intellectualization, and industrialization. Our aim is to become a leading chain restaurant group globally with an advanced modern management system. We will steadfastly focus on the mass Chinese cuisine market with the vision of “where there is Chinese, there are Xiaocaiyuan restaurants.” According to Frost & Sullivan, in terms of the restaurant revenue for the nine months ended September 30, 2023, Xiaocaiyuan ranked first among all brands in China’s mass Chinese cuisine market with average spending per consumer between RMB50 and RMB100.
As of the Latest Practicable Date, we have built a nationwide restaurant network consisting of 548 self-operated restaurants across different parts of China, with substantially all of them under the Xiaocaiyuan brand. During the Track Record Period, we primarily generated our revenue from our Xiaocaiyuan branded restaurants, which accounted for 98.7%, 98.8%, 98.7% and 99.1% of our total revenue in 2021, 2022 and the nine months ended September 30, 2022 and 2023, respectively. Since our establishment in 2013, we have been adhering to the values of “appreciation, responsibility, growth and win-win (感恩、責任、成長、共贏)” and the concept of “homestyle cooking (母親的味道).” We strive to offer consumers homemade flavor dishes and attentive services at affordable prices. For each consumer who walks into any of our Xiaocaiyuan restaurants, we promise: (i) to serve dishes within 25 minutes after order placed, or the dish will be complimentary; (ii) unconditional exchange or refund for any unsatisfactory dish; and (iii) to use high-quality food ingredients and to provide compensation of ten times of the price for any dish with quality issue. Consumers may opt for our restaurants for a variety of occasions, from casual daily dining, gatherings with families and friends, special event celebrations and business meals.
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