At least six Chinese milk tea chain brands are reported to be listed for the first time in Hong Kong and the United States for the first time, because the regulatory review of these two markets may be less than in mainland China.
According to the Bloomberg Society on Monday (July 24), people familiar with the matter revealed that these companies preparing to be listed overseas include Honey Snow Ice City.Mixue Ice City is the largest milk tea chain brand in China.
Honey Snow Ice City has 25,000 stores in China and 3,000 stores overseas.The company was considering listing in Hong Kong in 2021.People familiar with the matter revealed that Mi Xue Bingcheng applied for the first public offering (IPO) of $ 918 million (about S $ 1.222 billion) in Shenzhen last year, but was later put on hold.
It is reported that the Chinese regulatory agency issued a guideline earlier this year, saying that some types of companies are not encouraged to listed in the Chinese A -share market, and at the same time, it is forbidden to ban the listing of alcohol companies and extracurricular tutoring companies.
A person familiar with the matter said that regulators also suggested that companies that rely on the explosive franchise business model cannot be listed in China.
Gary Ng (NATIXIS) economist in Hong Kong, Gary Ng, analyzed that Chinese food and beverage chain stores usually rely on rapid expansion to obtain huge market share, which also means that under the action of leverageThe health of these companies may not be good. If there are new and good competitors, these chain stores are usually easily replaced.
The tea chain brand Nai Xue, which was listed in Hong Kong two years ago, has fallen by about 70%from the IPO price.
