Miracle Ice City updates its prospectus with a strong supply chain supporting over 45,000 stores worldwide.

On January 1, 2025, Meixue Bingcheng submitted updated listing application materials to the Hong Kong Stock Exchange. As of September 30, 2024, Meixue Bingcheng has over 45,000 stores, covering 11 countries in China and overseas. According to the report from Zhuo Shi Consultancy, Meixue Bingcheng currently has the largest complete end-to-end supply chain system in the Chinese freshly made beverage industry. Based on its strong supply chain, Meixue Bingcheng integrates global high-quality resources procurement to ensure providing "high quality and affordable" products, continuously loved by consumers in China and overseas. In the full year of 2023 and the first nine months of 2024, Meixue Bingcheng's store network achieved a beverage volume of 7.4 billion cups and 7.1 billion cups respectively. According to the Zhuo Shi Consultancy report based on the 2023 beverage volume, Meixue Bingcheng's Ice Fresh Lemon Water, Fresh Ice Cream, and Pearl Milk Tea are the top three best-selling products in the Chinese freshly made beverage industry. The updated prospectus also reveals that in the first nine months of 2024, Meixue Bingcheng sold 1.1 billion cups of Ice Fresh Lemon Water, 1.4 billion Ice Creams, and 385 million cups of Pearl Milk Tea in China. Since opening its first overseas store in Hanoi, Vietnam in 2018, as of September 30, 2024, Meixue Bingcheng has opened over 4800 stores in 11 countries overseas, ranking first in the Southeast Asian freshly made tea beverage market. Currently, the rapid growth of emerging markets such as China and Southeast Asia has become an important engine for the accelerated growth of the global freshly made beverage industry. According to the Zhuo Shi Consultancy report, it is expected that the Chinese and Southeast Asian markets will have the fastest growth rates among major global markets between 2023 and 2028, with compound annual growth rates reaching 17.6% and 19.8% respectively. The prospectus indicates that Meixue Bingcheng will continue to consolidate its leading position in the Chinese freshly made beverage industry, actively expand into overseas markets, and strive to build a global century-old brand.