New stock news: Xiao Caiyuan's Hong Kong listing has been approved.

On August 23rd, the China Securities Regulatory Commission issued a notice of overseas listing for Xiaocaiyuan International Holding Ltd. The company plans to issue no more than 218,230,400 ordinary shares and list on the Hong Kong Stock Exchange. It is reported that on July 16th, Xiaocaiyuan International Holding Ltd. (referred to as Xiaocaiyuan) submitted an application for listing to the main board of the Hong Kong Stock Exchange, with Huatai International and UBS Group as joint sponsors. The prospectus shows that Xiaocaiyuan is one of the well-known chain restaurants in the Chinese mass convenience market, ranking among the top in the industry in terms of business scale and growth rate. According to Frost & Sullivan, the mass convenience Chinese food market is a sub-segment of the Chinese food market, with an average price below 100 yuan. As of the last feasible date, Xiaocaiyuan has 623 operating directly operated stores, covering 135 cities or counties in 13 provinces of China. According to Frost & Sullivan, in terms of store revenue in 2023, "Xiaocaiyuan" ranks first among all brands in the Chinese mass convenience Chinese food market, with an average price between 50 and 100 yuan, accounting for 0.2% of market share. In terms of revenue, the scale of the mass convenience Chinese food market with an average price between 50 and 100 yuan was 2,252.9 billion yuan in 2023, accounting for approximately 55.2% of the overall Chinese food market.