New stock news | Bama Tea Company's Hong Kong IPO and domestic unlisted shares "fully circulate" have been approved by the China Securities Regulatory Commission.

On July 17, the International Cooperation Department of the China Securities Regulatory Commission issued a notice on the overseas issuance and listing of Bama Tea Co., Ltd. and the "full circulation" filing of unlisted shares domestically, with the company planning to issue no more than 29,133,400 shares of overseas listed common stock and list on the Hong Kong Stock Exchange. 106 shareholders of the company intend to convert a total of 43,986,875 unlisted domestic shares into overseas listed shares and list them for circulation on the Hong Kong Stock Exchange. According to the prospectus, the company is the leader in China's high-end tea market, the top seller in the high-end Chinese tea field, and the most well-known tea brand in China. According to a Frost & Sullivan report, based on the number of tea specialty stores by the end of 2023, the company ranks first in China's tea market; based on sales revenue in 2023, the company ranks first in China's high-end tea market, as well as first in China's oolong tea and black tea markets; as of 2024, the company's sales volume of Tieguanyin has been ranked first nationwide for over 10 years, and its rock tea sales volume has been ranked first nationwide for 5 consecutive years; according to Frost & Sullivan, based on brand preference, the company ranks first in both the Chinese tea market and China's high-end tea market. Furthermore, according to the Chinese tea chain industry report, the company's "Bama" brand ranked first in industry recognition in 2024, and customer satisfaction ranked first for two consecutive years in 2023-2024. The company leverages a nationwide offline store network and comprehensive online sales platform to provide consumers with high-quality Chinese teas, covering a full range of tea categories including oolong tea, black tea, red tea, green tea, white tea, and yellow tea, as well as tea utensils, tea snacks, tea drinks, and other non-tea products, forming a complete tea drink product matrix. Annex: Names of "full circulation" shareholders and conversion quantities