New Stock News | Chuan Mingming Group Plans to Go Public in Hong Kong IPO, Company Responds: Currently No Plans for Listing.

Recently, there have been market rumors that Mingming is very busy planning an IPO in Hong Kong, and is currently in the process of building a relevant team. In response to this, Mingming is very busy group stated on August 9th that there are currently no plans for an IPO. Public information shows that Snack Is Busy was founded in 2017, headquartered in Changsha, Hunan, and Zhao Yiming Snacks was founded in 2019, headquartered in Yichun, Jiangxi. In November 2023, the two companies officially merged to form the "Snack Is Busy" group. In June 2024, Snack Is Busy group changed its name to Mingming Is Very Busy group. Data shows that the group currently has over 10,000 stores, 8,000 employees, and over 50,000 store staff, making it the first brand with over 10,000 stores in the snack chain industry. It is understood that the merged Mingming Is Very Busy group has already begun to focus on three main areas: in terms of products, the group will focus on enriching product categories, creating extreme value for money, and innovating and regionalizing; in terms of operations, the group will focus on standardization and digital marketing to fully support franchisees, consolidate with franchisees, and make it easier for stores to improve their business; in terms of investment, "Opening good stores, breaking through 10,000 stores" has already been set as the group's goal for 2024, along with six major investment policies including "Five discounts to zero yuan" and "One-time subsidy of 100,000 yuan for opening a store". Snack Is Busy and Zhao Yiming Snacks have been favored by capital. In April 2021, Snack Is Busy completed a 240 million RMB Series A financing led by Sequoia China and Gaorong Capital; In April 2023, Zhao Yiming Snacks completed a 150 million RMB Series A financing led by Black Ant Capital, with Bestore Co., Ltd. as a follow-up investor; In December 2023, Haoxiangni Health Food and Yanker Shop Food Holdings respectively invested 700 million and 350 million RMB in Snack Is Busy group. Mingming Is Very Busy group's post-investment valuation soared to 10.542 billion yuan.