Ming Ming is very busy today as it is listed on the Hong Kong Stock Exchange with the aim to provide "quality-price ratio" services for millions of families.

On January 28, China's largest chain of leisure food and beverage retailers, Hunan Ming Ming Busy Commercial Chain Co., Ltd. (hereinafter referred to as "Ming Ming Busy"), officially listed on the main board of the Hong Kong Stock Exchange, with the stock abbreviation "Ming Ming Busy" and stock code 01768. Yan Zhou, founder, chairman, and CEO of Ming Ming Busy, stated that the company started as a small community store and has grown to over 20,000 stores nationwide, becoming a part of people's lives. Despite the possibility of becoming China's largest offline retail channel in the future, the company remains true to its original intention - to allow consumers to "buy good snacks affordably" and experience the joy of being able to buy a large bag of snacks for a small amount of money. The company also aims for its franchisees to earn money and live fulfilling lives through their hard work. "Our corporate vision is to create a happy life and become the people's snack brand. This is the direction that every Ming Ming Busy employee will steadfastly follow in the future. We will work hard to go to more places and bring the simple joy of Ming Ming Busy to more people." Under Ming Ming Busy are two major brands, "Snack Busy" and "Zhao Yiming Snacks," leading the way in the CHINA FOODS beverage volume model. By September 2025, Ming Ming Busy achieved a retail turnover (GMV) of 66.1 billion RMB, with the company's stores covering 28 provinces and major cities across the country, including 59% in county towns and villages, making it an important entity retailer connecting mass consumption and the CHINA FOODS industry. For Ming Ming Busy, going public is not the end, but a new starting point for long-term development. With the support of the capital market, the company will provide more consumers with cost-effective products and a happier shopping experience. Based on the current trend of boosting consumption through improving domestic demand, Ming Ming Busy has chosen a development path different from traditional supermarkets and online platforms by focusing on communities and sinking markets. By providing high-quality and affordable snacks and beverages, the company aims to meet the daily needs of the people efficiently and at low costs. Ming Ming Busy further enhances the consumer experience by adding emotional value to their products, creating a delightful shopping experience. Snacks naturally bring happiness, whether it's for holiday gatherings or rewarding children, they represent the little joys in life. Ming Ming Busy continues to optimize store designs, lighting, and displays to create a happy shopping atmosphere for consumers, making buying snacks not just a daily chore but a joyful way of life. As of November 30, 2025, Ming Ming Busy had 21,041 stores, with many located in county towns, villages, and community areas, providing high-quality, affordable, and diverse food choices that have truly become part of ordinary families' daily lives. "Small snacks" are becoming an important medium for serving the "big livelihood" of thousands of households. By restructuring the supply chain, Ming Ming Busy has sparked consumer demand by transforming the supply side. Through the volume model, the company directly connects manufacturers and brand owners, significantly reducing distribution costs through scaled purchasing, standardized operations, and a national warehouse distribution network. While ensuring food safety and quality, Ming Ming Busy offers consumers the same quality products at more reasonable prices. As of September 30, 2025, Ming Ming Busy has partnered with over 2,500 high-quality manufacturers, including 50% of the top 50 CHINA FOODS industry enterprises listed by Hurun Report, with prices on similar products around 25% lower than offline supermarkets. With the maturity of the CHINA FOODS industry, the industry is transitioning from a "seller's market" to a "buyer's market." Ming Ming Busy has gradually become a vital hub connecting consumer needs with the manufacturing capabilities of the CHINA FOODS sector. By selecting and customizing products based on consumer preferences, the company has established a standardized process from selection to promotion, unveiling hundreds of new products each month to offer a diverse range of products with rich categories that undergo continuous iteration. As of September 30, 2025, Ming Ming Busy had approximately 3,997 SKUs in stock, covering seven major categories and over 750 brands. With a focus on enhancing the consumer experience, Ming Ming Busy actively collaborates with manufacturers in optimizing product specifications and forms. Approximately 34% of the SKUs as of September 30, 2025, were customized through cooperation with manufacturers, with 38% of the products sold in loose bulk form. By customizing specifications, transparent packaging, small packaging, loose weight sales, etc., the company has lowered the threshold for consumers to try new products, making their selection more intuitive and easier. Furthermore, utilizing consumer data, Ming Ming Busy actively participates in upstream research and development. For instance, based on insights into taste preferences, the company collaborated with Yanker Shop Food to launch the "Sesame Flavored Sliced Beef Tripe," which achieved sales of 960 million units in the first nine months of 2025. This model not only makes consumers more willing to buy and offers more affordable options but also provides stable and predictable orders for upstream manufacturers. This, in turn, strengthens manufacturers' confidence in investing in research and development and upgrading product quality, creating a virtuous cycle of "consumer benefit, industry development." Focusing on the domestic market, Ming Ming Busy serves the real economy Ming Ming Busy's rapid growth is built upon a solid foundation of China's unified large market construction, improved logistics systems, and enhanced digital capabilities. Through a nationwide warehousing and logistics network and standardized management systems, the company has achieved stable operations and high-quality development across a wide range of stores. Up to September 30, 2025, Ming Ming Busy had 48 intelligent modern warehousing and distribution centers, with a single warehouse serving a delivery radius of up to 300 kilometers, enabling 24-hour nationwide store delivery. In the first nine months of 2025, warehousing and logistics costs accounted for only 1.7% of the total revenue, and in 2024, the company's inventory turnover days were 11.6 days, both leading parameters in the industry. While continuing to serve consumers, Ming Ming Busy continues to drive the real economy. By linking agricultural production, food processing, and end-to-end retail, the company's nationwide store network has helped local food enterprises and Shenzhen Agricultural Power Group's raw materials enter broader markets, promoting the overall upgrade of the domestic snack supply chain. Ming Ming Busy supports 9,552 franchisees in starting their businesses, creating numerous job opportunities, while using a standardized, replicable model to continuously improve county-level commercial systems. This growth exemplifies the practices of a snack retail company closely aligned with people's livelihoods and rooted in the real economy. Going public marks the beginning of a new journey In recent years, with the improvement in food consumption levels, the diversification of consumption scenarios, and changes in consumption preferences, the Chinese leisure food and beverage retail industry has seen significant growth. According to reports by the National Bureau of Statistics and Frost & Sullivan, the market size of the industry is projected to expand from 2.9 trillion RMB in 2019 to 3.7 trillion RMB by 2024, with a compound annual growth rate of 5.5%. It is further expected to reach 4.9 trillion RMB by 2029. The listing on the Hong Kong Stock Exchange marks a new, transparent, and stable development phase for Ming Ming Busy. In the future, the company will continue to focus on the vast Chinese consumer market, closely following the main theme of "consumer demand," and investing steadily in store networks, supply chain capabilities, product structures, and food safety systems to steadily enhance its service and operational capabilities. Ming Ming Busy will maintain a long-term perspective, ensuring stable store operations and excellent consumer services, making high-quality and affordable snacks a daily choice for more families. By promoting inclusive consumption through efficiency, and connecting a happy life through snacks, Ming Ming Busy continues to create a new story in Chinese snack retailing.