The margin purchase multiplier is over 3,47x! Shanghai Aunt (02589) went public in Hong Kong and is highly sought after

The Zhitong Finance App learned that after Gu Ming in February, Mixue Group in March, and Overlord Tea Princess in April, the capital market welcomed another listed tea in May. According to Futu Niu Niu data, as of press release on May 6, the Shanghai Aunt (02589) margin purchase ratio was 3447.33 times, and the subscription amount exceeded HK$94 billion, driving the recent rise in the Hong Kong stock tea and beverage sector. According to the plan, the company announced the winning results on May 6, closed trading opened on the afternoon of May 7, and was listed and traded on the Hong Kong Stock Exchange as scheduled on May 8.

Among the four major tea brands previously listed on the Hong Kong stock market, with the exception of Daehan's Michelle Group's online subscription ratio of 5,258 times, Nai Xue, Gu Ming, and Tea Baidao were 432 times, 195 times, and 0.5 times, respectively. In other words, Aunt Shanghai will become the most popular new tea drink stock after the Michelle Group.

In this IPO, Shanghai Aunt's fund-raising will be used for digital upgrading, product development, and supply chain strengthening. The company said it will continue to deeply cultivate the existing market and plans to expand its business to more third-tier cities and below.

According to the prospectus, according to Insight Consulting data, as of December 31, 2023, Aunt Shanghai is the fourth largest network of ready-made tea shops in China. It has a huge layout in the sinking market, and the franchise model is the core driving its rapid expansion.

In the past three years, Shanghai Auntie has shown a strong growth momentum. According to the prospectus, as of December 31, 2024, the number of Shanghai Auntie's stores nationwide had reached 9,176. Looking at it over a long period of time, Aunt Shanghai opened a store quite fast. The total number of stores in 2022 was 5,307, and in 2023 there were 7,789 stores. Basically, it is expanding at a rate of about 2,000 stores per year.

Naturally, such large-scale expansion is inseparable from the model of Shanghai aunts joining. The number of franchise stores in 2022, 2023, and 2024 was 5244, 7756, and 9152, respectively. Among them, franchise stores grew the fastest in 2023, with a growth rate of 47.9%.

Furthermore, Aunt Shanghai's total commodity transaction value (GMV) has maintained a steady growth trend. From 2022 to 2023, Shanghai Aunt's GMV was 6.068 billion yuan and 9.732 billion yuan respectively, up 45.8% and 60.4% year-on-year respectively, and further increased to 10.736 billion yuan in 2024.

In terms of financial data, Aunt Shanghai is also impressive. From 2022 to 2024, the company's revenue was $2,199 million, $3.388 billion, and $3.285 billion, respectively; adjusted net profit was $154 million, $416 million, and $418 million, respectively. The overall momentum was strong.

In this stock offering, Aunt Shanghai brought in 2 cornerstone investors and subscribed for a total of about US$9215,500 of the shares to be sold, of which Yingfeng Holdings subscribed for about US$6.444 million and Huabao shares subscribed for about US$2.7751 million.