The number one beverage company in China and the world, Michelle Ice City went public in Hong Kong and was registered by the Securities Regulatory Commission

The Zhitong Finance App learned that on January 7, the China Securities Regulatory Commission issued the “Notice Concerning the Filing Notice Concerning the Overseas Issuance and Listing of Michelle Bingcheng Co., Ltd.” The company intends to issue no more than 73,058,823 overseas listed common shares and list them on the Hong Kong Stock Exchange. At the same time, the 12 shareholders of the company plan to convert a total of 131,264,258 domestic unlisted shares into overseas listed shares and list them for circulation on the Hong Kong Stock Exchange. According to reports, on January 2, 2024, Michelle Bingcheng first submitted a listing application to the main board of the Hong Kong Stock Exchange. On January 1, 2025, the company updated the listing application materials to continue the listing process on the main board of the Hong Kong Stock Exchange. Bank of America, Goldman Sachs, and UBS Group were co-sponsors.

Michelle Ice City is a leading ready-to-drink company. As of September 30, 2024, Michelle Ice City has over 45,000 stores, covering China and 11 overseas countries. According to Insight Consulting's report, based on the number of stores as of September 30, 2024, Michelle Ice City is the number one ready-to-drink company in the world.

Michelle Ice City is the first company in the Chinese beverage industry to set up a central factory. According to the Insight Consulting Report, Michelle Ice City now has the largest comprehensive end-to-end supply chain system in the current beverage industry in China, and 100% of the core ingredients provided to franchisees are produced in-house.

Furthermore, with strong brands and high-quality and affordable products, Michelle Ice City has established long-term popularity among consumers, and Michelle Ice City franchisees have also benefited from it. In 2021, 2022, 2023 and the first nine months of 2024, the Michelle Ice City store network achieved terminal retail sales of approximately 22.8 billion yuan, 30.7 billion yuan, 47.8 billion yuan and 44.9 billion yuan respectively. It is worth mentioning that in the full year of 2023 and the first nine months of 2024, the Michelle Ice City store network produced about 7.4 billion cups and 7.1 billion cups of drinks, respectively.

Regarding future development plans, the prospectus shows that Michelle Ice City will consolidate its leading position in China's current beverage industry, actively expand overseas markets, and build a global century-old brand.