Laoxiangji's Hong Kong IPO Prospectus Lapses

Stock News01-07

The港股IPO prospectus submitted by LXJ International Holdings Limited (Laoxiangji) on July 7, 2025, has lapsed after the standard six-month period, effective January 7, 2026. At the time of filing, China International Capital Corporation (CICC) and Haitong International were its joint sponsors. According to the previous prospectus, Laoxiangji is the largest Chinese fast-food restaurant (QSR) brand in China. Through over 20 years of refinement and innovation, the company has developed a home-style menu centered around chicken soup and chicken-based dishes, which has garnered significant popularity among customers. Data from CIC indicates that, based on total transaction value, the company ranked first in China's Chinese fast-food industry in 2024 with a 0.9% market share; it also placed eighth in the broader Chinese fast-food sector with a 0.5% market share. As of April 30, 2025, Laoxiangji operated 1,564 stores across 58 cities in China, comprising 911 directly-operated stores and 653 franchised locations, covering 9 provinces.

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