New Stock News | Banoomoupot Hot Pot Hong Kong Stock IPO Prospectus Invalid

Banu International Holdings Limited (referred to as Banu Beef Tripe Hotpot), whose Hong Kong stock offering document was submitted on December 17, 2025, expired after 6 months on June 17, 2026, with CICC and CMB International as joint sponsors at the time of submission. According to the previous prospectus, Banu Beef Tripe Hotpot is China's largest quality hotpot brand, adhering to the concept of product-oriented management and pursuing differentiated market positioning. According to data from Frost & Sullivan, in terms of revenue, Banu was the largest brand in the Chinese quality hotpot market in 2024, with a market share of about 3.1%. In terms of revenue, Banu was the third largest brand in the Chinese hotpot market in 2024, with a market share of about 0.4%. During the historical period, the total number of Banu Beef Tripe Hotpot's self-operated Banu stores increased from 86 as of December 31, 2022, to 111 as of December 31, 2023, further increasing to 144 as of December 31, 2024, and 156 as of September 30, 2025. The total number of self-operated Banu stores increased from 83 as of January 1, 2022, to 162 as of December 7, 2025, with a growth rate of 95.2%.