New stock news | Eight Horses Tea Co. passes Hong Kong Stock Exchange hearing, company is the top national seller of high-end Chinese tea.

According to the disclosure on October 12th by the Hong Kong Stock Exchange, Bama Tea Industry has passed the listing hearing on the main board of the Hong Kong Stock Exchange, with Huatai International, Agricultural Bank International, and TF International as joint sponsors. According to the prospectus, Bama Tea Industry is a well-known tea supplier in China, with products covering all six major categories of Chinese tea as well as tea sets, tea snacks, and other non-tea products. Based on sales revenue calculations, the high-end tea market in China is showing rapid development momentum, with the market size increasing from approximately RMB 89 billion in 2020 to approximately RMB 103.1 billion in 2024, with a compound annual growth rate of about 3.7%. It is expected to reach approximately RMB 135.3 billion by 2029, with a compound annual growth rate of about 5.6% from 2024 to 2029. With advantages in brand value, tea-making skills, product development capabilities, large-scale operations, channel operation capabilities, cross-regional expansion capabilities, supply chain management capabilities, digital sales platforms, and talent teams, Bama Tea Industry has achieved the position of "number one in national sales of high-end Chinese tea." The company mainly sells products to franchisees, e-commerce platforms, and retail consumers through direct online and offline stores. After consumers make purchases in offline stores, they can become members of Bama Tea Industry's offline stores. In addition, consumers can register as members through various online channels. As of the last practicable date, the number of members has exceeded 26 million. Bama Tea Industry's revenue has increased from approximately RMB 1.818 billion for the year ended December 31, 2022, to approximately RMB 2.122 billion for the year ended December 31, 2023, and further to approximately RMB 2.143 billion for the year ended December 31, 2024. Bama Tea Industry's profit and total comprehensive income increased from approximately RMB 166 million for the year ended December 31, 2022, to approximately RMB 206 million for the year ended December 31, 2023, and further to approximately RMB 224 million for the year ended December 31, 2024.