IPO News | Rumor has it that Haitian Flavors plans to go public for the second time in Hong Kong or raise at least US$1.5 billion

The Zhitong Finance App learned that according to reports, people familiar with the matter said that Haitian Flavors is considering a second listing in Hong Kong and may raise at least 1.5 billion US dollars. The company is discussing with advisors the possibility of issuing shares in Hong Kong, which may be listed in the first half of next year. People familiar with the matter, who did not wish to be named due to undisclosed information, said discussions are still ongoing and the scale of fund-raising will depend on market conditions. Haitian's representatives did not immediately respond to requests for comment.

According to reports, Haitian flavor has been deeply involved in the production and marketing of condiments for a long time. Currently, the company has a product line covering a wide range of categories such as soy sauce, oyster sauce, vinegar, cooking wine, various kinds of compound seasonings, as well as cereals, oils, rice noodles, and fermented beverages. Among them, the market share of Haitian Soy Sauce and Haitian Oyster Sauce has ranked first in the country for many years.

According to financial data, in the first half of 2024, Haitian Flavors achieved operating income of 14.156 billion yuan, an increase of 9.18% over the previous year; realized net profit to mother of 3.453 billion yuan, an increase of 11.52% over the previous year. Among them, first-quarter revenue and net profit to mother increased 10.21% and 11.85% year-on-year, while second-quarter revenue and net profit to mother increased 7.98% and 11.12% year-on-year.