New stock news | Juhui Catering delivers to Hong Kong Stock Exchange as China's largest third-party supplier of customized Chinese compound condiments.

According to the disclosure on June 17 by the Hong Kong Stock Exchange, Ju Hui Food Technology Co., Ltd. (referred to as Ju Hui Catering) has submitted an application to the main board of the Hong Kong Stock Exchange, with China Securities Co., Ltd. International as its exclusive sponsor. Company Introduction According to the prospectus, the company is a leading supplier of customized compound seasoning products in China. According to data from Frost & Sullivan, the company is the largest third-party Chinese compound seasoning custom product supplier. With a mission to make dining simpler, the company mainly provides comprehensive flavor design and panoramic solutions covering a wide range of product categories and flavor dimensions for catering enterprise customers. The company's one-stop solution includes market insights, research and development, application support, and intelligent production, helping chain restaurants achieve flavor standardization and operational efficiency. The company believes that exquisite cooking is half art, half science. Therefore, using a science-driven approach, the company transforms traditional Chinese culinary flavors that rely on traditional experience into quality, stable, standardized, and scalable seasoning solutions. The company's value proposition to customers is clear and concise: to assist customers in discovering region-specific flavors with broad commercial potential, and through scientific methods, transform traditionally experience-dependent manual cooking methods into standardized and replicable flavor solutions suitable for mass production, while preserving the authentic essence of the wok aroma. In this way, the company empowers customers to create dishes with outstanding flavors that captivate consumers' taste buds while improving kitchen efficiency. As one of the few first batch of Chinese compound seasoning custom product companies, since its establishment in 2008, the company has accompanied clients throughout their growth journey and has become a key enabler driving the trend of chain restaurant in the Chinese catering industry. Leveraging nearly 20 years of experience in the compound seasoning industry, the company has accumulated profound industry insights and developed strong research and development capabilities, customer-centric service systems, intelligent production facilities, and robust supply chain management capabilities. Through continuous technological innovation, service upgrades, and ecosystem building, the company has formed competitive advantages that span across various segments of the value chain. With a strong research and development system and a comprehensive verified formula library in China, the company has become the preferred business partner for catering clients during the reporting period. As of the last practicable date (June 14, 2026), the company's average cooperation period with the top ten customers during the reporting period reached 6.7 years. The company's annual customer repurchase rate (defined as the percentage of customers who placed orders in a specific period and in the previous period out of the total customers who placed orders in the period) increased from 54.2% in 2023 to 55.4% in 2024, and further increased to 72.1% in 2025. Financial Information Revenue For the three months ended March 31, 2023, 2024, 2025, and 2026, the company's revenue was approximately RMB 1.03 billion, RMB 1.136 billion, RMB 1.106 billion, and RMB 297 million, respectively. Profit For the three months ended March 31, 2023, 2024, 2025, and 2026, the company's net profit for the year/period was approximately RMB 123 million, RMB 153 million, RMB 125 million, and RMB 29.73 million, respectively. Industry Overview In 2025, the United States, China, and Japan were the world's top three seasoning markets, with market sizes reaching RMB 552.7 billion, RMB 511.3 billion, and RMB 122.2 billion, respectively. Among these leading markets, China's seasoning market is expected to grow most rapidly, with a compound annual growth rate of 6.2% from 2025 to 2030. In the field of compound seasoning, the three major international markets of the United States, China, and Japan had market sizes (calculated by revenue) of RMB 302.3 billion, RMB 130.2 billion, and RMB 65.9 billion, respectively in 2025. In 2025, compound seasonings accounted for 54.7%, 25.5%, and 53.9% of the overall seasoning market in the United States, China, and Japan, respectively. In 2025, the per capita consumption of compound seasonings in the United States and Japan was significantly higher at RMB 882.9 and RMB 534.7, respectively, compared to RMB 92.6 in China. Due to factors such as cooking culture, household consumption habits, chain restaurant penetration rate, and level of standardization in the catering industry, the compound seasoning markets in the United States and Japan are well-developed. In contrast, the compound seasoning market in China is still in an early stage of development and is expected to have significant growth potential. In recent years, the Chinese seasoning market has maintained steady growth and, in terms of national and income division, is the second-largest seasoning market globally and the fastest-growing among the top three markets. In 2025, the Chinese seasoning industry's market size (calculated by revenue) reached RMB 511.3 billion, with an expected increase to RMB 689.7 billion by 2030, with a compound annual growth rate of 6.2% from 2025, mainly due to increasing disposable income per capita, growth in the catering and food processing industries, and diversification of seasoning categories and sales channels. In terms of product types, single seasonings continue to dominate the Chinese seasoning market due to their long history of development and widespread use in daily cooking. In 2025, the market for single seasonings in China reached RMB 381.1 billion, with a large base but relatively slow growth, with a compound annual growth rate of 1.6% since 2020. Although compound seasonings accounted for only 25.5% of the overall seasoning market in 2025, with a market size of RMB 130.2 billion, they had a significantly higher compound annual growth rate of 5.5% compared to single seasonings during the same period. The rapid growth of the compound seasoning market can be mainly attributed to its convenience and diversity of flavors compared to single seasonings, driven by the continued expansion of the catering industry and evolving consumer preferences, making it more popular in the expanding chain restaurant industry and home cooking. Looking ahead, the growth of the compound seasoning market is expected to accelerate further, reaching a market size of RMB 208.1 billion by 2030, accounting for 30.2% of the total seasoning market, with a compound annual growth rate of 9.8% since 2025. During the same period, the market size of single seasonings is expected to reach RMB 481.6 billion, with a compound annual growth rate of 4.8%. Board of Directors Information After compilation, the board of directors will consist of six directors, including three executive directors and three independent non-executive directors. The board is responsible for the general management and operation of the company. Directors serve a term of three years and may be re-elected upon completion of their term. Ownership Structure According to the Joint Action Agreement, Mr. Guo and Mr. Wang have been acting jointly since December 31, 2017 (or the later date they became the ultimate controlling shareholder of the company and other members of the group). As long as Mr. Guo and Mr. Wang, individually or jointly, remain the controlling shareholders of the group, this arrangement will remain in effect. Therefore, as of the last practicable date, Mr. Guo and Mr. Wang collectively hold beneficial interests in 90% of the company's issued share capital through BVI-GOWL (owned wholly by BVI-GOW, wholly owned by Mr. Guo), BVI-PEPPER (owned wholly by BVI-SPICY, wholly owned by Mr. Wang), and BVI-KY (owned wholly by BVI-GOWL and BVI-PEPPER). Thus, Mr. Guo, Mr. Wang, BVI-GOW, BVI-GOWL, BVI-SPICY, BVI-PEPPER, and BVI-KY together constitute a group of controlling shareholders of the company. Intermediary Team Exclusive Sponsor: China Securities Co., Ltd. (International) Finance Limited; Legal Advisers: Jingtian & Gongcheng Law Firm, Beijing Jingtian & Gongcheng Law Firm, and Yibai Law Firm; Legal Advisers for the Exclusive Sponsor: Tianyuan Law Firm (Limited Liability Partnership) and Tianyuan Law Firm; Auditors and Reporting Accountants: PricewaterhouseCoopers; Industry Consultants: Frost & Sullivan; Property Valuer: Cushman & Wakefield Limited.