New Stock News | Hongxin Supermarket's Hong Kong IPO prospectus is invalid, operated by a supermarket and convenience store chain operator.

Jiangsu Hongxin Supermarket Chain Co., Ltd. (hereinafter referred to as Hongxin Supermarket) submitted its Hong Kong IPO prospectus on June 26, 2024, which expired after 6 months on December 26, with Chao Yao Capital acting as the exclusive sponsor. According to the earlier prospectus, Hongxin Supermarket is a well-known supermarket and convenience store chain operator headquartered in Yangzhou, operating retail and wholesale businesses under the brand "Hongxin Long." According to industry reports, the company ranked second in terms of sales among supermarket operators in Yangzhou in 2023, with a market share of 9.1%, and fifth in terms of sales among supermarket operators in the central region of Jiangsu in 2023, with a market share of 2.3%. As of June 18, 2024, the company operated 51 supermarkets and 109 convenience stores in Jiangsu Province, with 49 supermarkets and 108 convenience stores located in Yangzhou and two supermarkets and one convenience store in Taizhou. In addition to supermarkets and convenience stores, the company also operates two shopping malls in Yangzhou, Jiangdu Shopping Mall and Hongxin Long Shopping Center. Utilizing its ability to purchase and supply high-quality fresh food ingredients, Hongxin Supermarket also operates a central kitchen to produce meals and deliver them to local businesses, schools, or government entities. As of June 18, 2024, the central kitchen is located in Yangzhou and can produce 10,000 lunch meals and 10,000 dinner meals per day. Financially, in 2021, 2022, and 2023, Hongxin Supermarket achieved revenues of approximately RMB 1.432 billion, RMB 1.329 billion, and RMB 1.402 billion, with net profits for the same period of RMB 35.08 million, RMB 51.065 million, and RMB 51.602 million, respectively.