Encounter Small Noodle IPO sprint Chinese noodle restaurant's first stock, profit doubled year-on-year in the first half of 2025.

On the 10th and 15th, Yujian Xiaomian updated its prospectus and accelerated its Hong Kong stock IPO, aiming to become the first stock of Chinese noodle restaurants. The leading Sichuan and Chongqing-style noodle restaurant has been maintaining a leading growth rate. It is reported that Yujian Xiaomian is expected to achieve a three-level revenue jump from 4.18 billion yuan to 11.54 billion yuan from 2022 to 2024, with a high compound annual growth rate of 66.16%. In the first half of 2025, the company achieved a revenue of 703 million yuan, a year-on-year increase of 33.8%, and is expected to reach a new high for the whole year. In terms of profit, the performance is also impressive, with a year-on-year doubling of adjusted net profit reaching 52.175 million yuan, a year-on-year increase of 131.56%. The rapid release of the scale effect is the underlying logic supporting its high growth. It is reported that from the beginning of the previous period to the last actual feasible date, the number of Yujian Xiaomian restaurants increased by 239.1% from 133 to 451, covering 22 cities in 9 provinces of mainland China and the Hong Kong Special Administrative Region. As of the last actual feasible date, 101 new restaurants are currently actively preparing, and it is expected to exceed 500 restaurants for the whole year. It is also worth noting that its first store in Singapore is in preparation and is expected to welcome the first overseas store in the Southeast Asian market in December. According to Frost & Sullivan data, in terms of total merchandise trading volume in 2024, Yujian Xiaomian is the largest operator of Sichuan and Chongqing-style noodle restaurants and the fourth largest operator of Chinese noodle restaurants in China. Among the top ten Chinese noodle restaurant operators in China in 2024, its compound annual growth rate of total merchandise trading volume from 2022 to 2024 is the highest. The Frost & Sullivan report points out that the market size of Chinese noodle restaurants in 2024 is 296.2 billion yuan, with Sichuan and Chongqing-style noodles growing at a rate of 13.2%. Yujian Xiaomian has the highest market share in this sub-segment, ranking first in offline sales volume for three consecutive years from 2022 to 2024 among all catering chain companies in China, including Chongqing Xiaomian, Hongwan Wanzha noodles, and Jinwan hot and sour noodles.