New Stock News | Laoxiang Chicken's Hong Kong IPO prospectus is invalidated

LXJ International Holdings Limited (referred to as "Laoxiangji") submitted its Hong Kong stock prospectus on January 8, 2026, which expired after 6 months on July 8, 2026. CICC and Haitong International Capital Limited acted as its joint sponsors. The prospectus shows that, based on data from Burning Insight Consulting, Laoxiangji ranked first in the Chinese fast food industry in terms of market share at 0.9% in 2024 based on total transaction amount; and ranked eighth in the Chinese fast food industry with a market share of 0.5% in 2024 based on total transaction amount. With over 20 years of development, Laoxiangji has built a home-style menu centered around chicken soup and chicken dishes. Laoxiangji began exploring the franchise model in 2020 and has been continuously developing this model. The company has established a "direct + franchise" store network that balances quality and expansion. As the footprint continues to expand, as of August 31, 2025, Laoxiangji has 1,658 stores in 61 cities in China, including 925 direct stores and 733 franchise stores, covering 9 provinces. In the eight months ending on August 31, 2025, Laoxiangji served over 206 million customers, meeting dining needs in various scenarios.