On July 17th, the International Cooperation Department of the China Securities Regulatory Commission issued a filing notice concerning the overseas listing and the conversion of domestic unlisted shares for public trading by Yuanji Food Group Co., Ltd. The company plans to issue no more than 23,824,000 ordinary shares for listing on the Hong Kong Stock Exchange.
Additionally, 20 shareholders of the company intend to convert a total of 82,176,253 domestically held, unlisted shares into overseas listed shares, which will also be traded on the Hong Kong exchange. Yuanji Food operates the restaurant chain "Yuanji Yun Jiao" and the retail brand "Yuanji Weixiang".
According to its prospectus, the company reported revenues of RMB 2.026 billion in 2023 and RMB 2.561 billion in 2024, representing a 26% year-on-year increase. For the first nine months of 2025, its adjusted net profit was RMB 192 million, up 31% from the same period a year earlier.
As of September 30, 2025, Yuanji Food operated a network of 4,266 stores. The total gross merchandise value across all its locations grew by 31%, rising from RMB 4.772 billion in 2023 to RMB 6.248 billion in 2024.
Based on a report from CIC Consulting, Yuanji Food is the Chinese fast-food chain with the largest number of stores both in China and globally. It is also the largest operator of dumpling and wonton specialty stores in China. The names of shareholders participating in the share conversion scheme and their respective conversion quantities are listed below.
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