New Stock News | Xiomin meets with Hong Kong Stock Exchange for hearing, becoming the fourth largest operator of Chinese-style noodle restaurants in China.

According to the disclosure by the Hong Kong Stock Exchange on November 17, Guangzhou Yujian Xiaomian Catering Co., Ltd. (hereinafter referred to as "Yujian Xiaomian") underwent a listing hearing on the main board of the Hong Kong Stock Exchange, with CICC as the exclusive sponsor. According to Frost & Sullivan data, in terms of total commodity trading volume in 2024, the company is the fourth largest operator of Chinese noodle restaurants in China, with a market share of 0.5%. According to the prospectus, the company is a Chinese noodle restaurant operator in mainland China and the Hong Kong Special Administrative Region under the Yujian Xiaomian brand. As of October 8, 2025, the company's restaurant network includes 440 restaurants in 22 cities in mainland China and 11 restaurants in the Hong Kong Special Administrative Region. With strong growth momentum, as of October 8, 2025, the company had 101 new restaurants in the pre-opening preparation stage. The company's restaurants are mostly located in the eastern and southern regions of China, with over half of the restaurants located in Guangdong Province. According to Frost & Sullivan data, in terms of total commodity trading volume in 2024, the company is the fourth largest operator of Chinese noodle restaurants in China, with a market share of 0.5%. According to Frost & Sullivan data, the Chinese noodle restaurant market is a major segment of the overall Chinese fast-food restaurant market, with a market share of approximately 29.8% in 2024. Fast-food restaurants typically offer convenient ready-to-eat meals to meet the demand for quick dining. The fast-food restaurant market includes enterprises and institutions that stand out through standardized operations, efficient and scalable models, and provide stable, fast, and convenient dining experiences with digital integration and affordable prices, catering to consumers prioritizing fast service and ready-to-eat dishes. The Chinese fast-food restaurant market accounted for about 17.6% of the overall catering service market in China in 2024. The Chinese Chinese fast-food restaurant market is highly fragmented due to a large number of different types of market participants, with the top five participants jointly holding approximately 3.0% market share in 2024 (by total commodity trading volume). According to Frost & Sullivan data, based on total commodity trading volume in 2024, the company ranked thirteenth in the overall Chinese fast-food restaurant market with a market share of 0.14%. The company's foundation is built on Chongqing Xiaomian. Chongqing Xiaomian is a series of spicy main dishes originating from the mountain city of Chongqing, enjoying a good reputation nationwide. As a Chinese restaurant chain brand with Chongqing Xiaomian series as its main focus, the company's products have expanded to various spicy and non-spicy dishes, including noodles, rice dishes, snacks, and beverages. The company operates its restaurants through direct operation or franchising. During the historical period, the number of the company's restaurants continued to rise, and financial performance also achieved rapid growth. From the beginning of the historical period to October 8, 2025, the number of the company's restaurants increased by 239.1% from 133 to 451. With the successful direct operation model and good brand recognition, the company ventured into franchising in 2019 through centralized management. Since adopting the franchising model, the number of franchising restaurants of the company has steadily increased during the historical period. As of June 30, 2025, the company had 86 franchising restaurants. According to Frost & Sullivan data, driven by the advancement of China's urbanization process, growth in disposable income, and an increasing proportion of dining-out consumers, the Chinese noodle restaurant market is expected to further accelerate, with total commodity trading volume reaching RMB 510 billion by 2029, and a compound annual growth rate of 10.9% from 2025 to 2029. In the Chinese noodle restaurant market, the total commodity trading volume of the market mainly based on Sichuan and Chongqing flavors is expected to reach RMB 135.7 billion by 2029, with a compound annual growth rate of 13.2% from 2025 to 2029, the highest among the various regional Chinese noodle restaurant markets in China. These favorable trends provide development opportunities for the company. In terms of financials, for the six months ended June 30 in 2023, 2024, and 2025, the company's revenue was approximately RMB 801 million, RMB 1.154 billion, and RMB 703 million, respectively; during the same period, the net profit for the year/period was RMB 45.914 million, RMB 60.7 million, and RMB 41.834 million, respectively.