New stock news: HongxinLongDi expresses its intention to list on the main board of the Hong Kong Stock Exchange. The company is a supermarket and convenience store chain operator headquartered in Yangzhou.

According to the disclosure of the Hong Kong Stock Exchange on January 24, Jiangsu Hongxin Supermarket Chain Co., Ltd. (hereinafter referred to as Hongxin Long) has submitted its application to the main board of the Hong Kong Stock Exchange, with Chouyao Capital as the exclusive sponsor. According to the prospectus, the company is a supermarket and convenience store chain operator headquartered in Yangzhou, mainly focusing on retail and wholesale businesses in the central Jiangsu region under the brand "Hongxin Long." The company's supermarkets offer a variety of daily consumer goods (roughly categorized as fresh produce, grains and oils, groceries, and household items) to meet customers' daily needs, while its convenience stores operate 16 or 24 hours a day to meet the demand for quick purchase of daily consumer goods. In terms of chain store management, the company adopts standardized brand image and store design, centralized procurement, centralized inventory control and distribution, and unified management of retail stores. These unified measures enable the company to benefit from economies of scale, streamline operations, and provide customers with a predictable shopping experience. Given the increasing popularity of e-commerce in China, the company has established two mini-programs, "Longhui Easy Purchase" and "Hongxin Long Same-Day Delivery," for its retail stores during the historical period. As of January 15, 2025, the company operated 52 supermarkets and 107 convenience stores in Jiangsu Province, of which 49 supermarkets and 106 convenience stores were located in Yangzhou, and three supermarkets and one convenience store were located in Taizhou. In addition to supermarkets and convenience stores, the company also operates two malls in Yangzhou, namely Jiangdu Mall and Hongxin Long Shopping Center. In the fiscal years 2021, 2022, 2023, and the first nine months of 2024, the revenue generated from the company's retail business was approximately RMB 888.5 million, RMB 787.9 million, RMB 688.6 million, and RMB 417.8 million, accounting for approximately 62.0%, 59.3%, 49.1%, and 41.6% of the company's total revenue, respectively. According to industry reports, in 2023, the company ranked second among supermarket operators in Yangzhou by sales revenue, with a market share of approximately 9.1%. In terms of sales revenue, the company ranked fifth among supermarket operators in central Jiangsu in 2023, with a market share of approximately 2.3%. Additionally, based on sales revenue in 2023, the company ranked around 20th among supermarket operators in Jiangsu Province, with a market share of approximately 0.4%. Financially, as of the nine months ended September 30 for the years 2021, 2022, 2023, and 2024, Hongxin Long's revenue was approximately RMB 1.432 billion, RMB 1.329 billion, RMB 1.402 billion, and RMB 1.006 billion, with annual profits of RMB 35.08 million, RMB 51.065 million, RMB 51.602 million, and RMB 24.078 million, respectively.