New Stock News | Liuliu Plum Attends Hearing at Hong Kong Stock Exchange, Focusing on Plum Products.

According to the disclosure by the Hong Kong Stock Exchange on May 26th, Liuliumei Limited Company (referred to as Liuliumei) had their hearing for listing on the main board of the Hong Kong Stock Exchange, with CITIC SEC and Guoyuan International being their joint sponsors. The prospectus shows that Liuliumei is a fruit snack company focusing on green plum products. Under the guidance of a product development strategy based on plums, the company has created a diverse range of green plum products, covering classic series using traditional techniques to products blending various flavors to meet different taste preferences. Since the launch of the classic brand "Liuliumei" in 2001, the company has been committed to deepening the technology of green plum products and exploring the culinary potential of the sour taste of green plums. In terms of products, the company mainly offers three categories: dried plum snacks, plum products, and plum jelly. The company has launched different series for each category, including products using traditional techniques and products with rich flavors. According to Frost & Sullivan data, in 2024, the company ranked first in retail sales in the fruit snack industry in China, with a market share of 4.9%. Since the launch of the plum jelly in 2019, the company quickly captured the attention of consumers. In 2024, the company ranked first in the natural ingredient jelly industry in China (based on retail sales), with a market share of 45.7%. During the historical periods, the company strategically focused on developing membership stores and chain snack specialty stores. The operating positioning of membership stores is in the high-end market, where customers pay a subscription fee to enter. The feature of this model is a pricing based on the unit value of larger packaging size, supported by strict SKU management, self-branded product development, and strong supply chain capabilities. In contrast, snack specialty stores focus on convenience and impulse buying, with success relying on different operational strategies emphasizing a greater SKU selection and diverse product specifications, competitive pricing, frequent product updates to capture changing tastes, and prioritizing efficient sales and quick restocking in a compact, conveniently located store network. The company's main customers include supermarkets, membership stores, snack specialty stores, and distributors. During the historical periods, the revenue from the top five customers each year accounted for 14.2%, 33.1%, and 45.8% of the total revenue each year. In terms of production, during the historical periods, Liuliumei's production factories mainly produced dried plum snacks, plum jelly, and plum products. The company also occasionally contracts several third-party subcontractors to handle certain stages in the initial production process, such as the acid washing stage of the dried plum snacks, to alleviate short-term pressure on production facilities during peak periods. Financially, in the fiscal years 2023, 2024, and 2025, the company's revenue was approximately 1.322 billion, 1.616 billion, and 1.711 billion yuan respectively; while the net profit for the same period was approximately 99.231 million, 148 million, and 182 million yuan respectively.