New Stock News | Xizi Health applied to be listed on the Hong Kong Stock Exchange. By 2024, its retail sales ranked third among Chinese sports nutrition food brand operators.

According to the disclosure by the Hong Kong Stock Exchange on January 8th, Hunan Xizi Health Group Co., Ltd. (referred to as Xizi Health) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CITIC SEC as the exclusive sponsor. Company Introduction The prospectus shows that Xizi Health is a sports nutrition and functional food company dedicated to providing consumers with high-quality nutritional health products and leading a healthy lifestyle. The company's main products include protein powder, compound whey protein powder, creatine, functional gummies, coffee, etc. The company has created a brand matrix covering professional training, healthy living, weight management, and daily nutritional needs, which includes four main proprietary brands: FoYes, fiboo, Gumen Diary, and HotRule. Among them, fiboo, Gumen Diary, and FoYes each achieved cumulative sales exceeding RMB 500 million within 31 months, 20 months, and 15 months of product launch, respectively. HotRule, launched in April 2025, has surpassed RMB 60 million in cumulative GMV as of the last feasible date. Revenue breakdown by brand type: According to Frost & Sullivan data, in terms of retail sales of sports nutrition products in 2024, the company ranks third among Chinese sports nutrition product brand operators, becoming a leader in the Chinese sports nutrition product market and the fastest-growing sports nutrition product brand operator in China from 2022 to 2024. Financial Information Revenue: For the fiscal years 2023, 2024, and the nine months ending September 30, 2025, Xizi Health achieved revenues of approximately RMB 14.47 billion, RMB 16.92 billion, RMB 13.08 billion, and RMB 16.09 billion, respectively. Gross Profit: For the fiscal years 2023, 2024, and the nine months ending September 30, 2025, Xizi Health achieved gross profits of RMB 6.42 billion, RMB 9.95 billion, RMB 7.60 billion, and RMB 9.58 billion, respectively. Through direct control over product design, pricing strategies, and marketing promotions, the scale development of proprietary brands has driven the company's gross profit margin from 44.4% in 2023 to 58.8% in 2024, further increasing to 59.5% as of the nine months ending September 30, 2025. Industry Overview The retail sales of nutrition and health food in China increased from RMB 297.9 billion in 2020 to RMB 405.7 billion in 2024, with a compound annual growth rate of 8.0% from 2020. Due to market expectations for product diversification, scene segmentation, and cross-border integration, nutrition and health food products are expected to provide more diverse products that closely align with consumer demand. It is projected that retail sales of nutrition and health food in China will continue to grow from 2024 to 2029, reaching RMB 645.2 billion in 2029, with a compound annual growth rate of 9.7% from 2024. The retail sales of sports nutrition products in China increased from RMB 3.6 billion in 2020 to RMB 8.0 billion in 2024, with a compound annual growth rate of 22.1% from 2020. With the continuous increase in sports participation and the gradual expansion of daily consumer scenes, the retail sales of sports nutrition products in China are expected to reach RMB 19.0 billion in 2029, growing at a compound annual growth rate of 18.9% from 2024. Board of Directors The board of directors will consist of nine directors, including four executive directors, two non-executive directors, and three independent non-executive directors. Equity Structure Xizi Technology holds 63.04% of the company's shares, Mr. Liu holds 12.44% of the company's shares, Mr. Mao holds 2.37% of the company's shares, and Dachen Venture Entity holds 10.36% of the company's shares. Intermediary Team Exclusive Sponsor: CITIC SEC (HONG KONG) LTD. Company Legal Advisor: Regarding Hong Kong and U.S. law: King & Wood Mallesons Hong Kong LLP; Regarding Chinese law: Hunan Qiyuan Law Firm Legal Advisor for Exclusive Sponsor: Regarding Hong Kong and U.S. law: Hoi Wan LLP; Regarding Chinese law: King & Wood Mallesons Reporting Accountant and Independent Auditor: KPMG Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd., Shanghai Branch