Ming Ming was busy updating the prospectus, and both revenue and profit increased steadily, ranking first in the retail chain of snack food and beverage chains in China

The Zhitong Finance App learned that on October 28, Ming Ming was busy submitting updated listing application materials to the Hong Kong Stock Exchange. According to the data, for the six months ended June 30, 2025, the company achieved retail sales (GMV) of 41.1 billion yuan, revenue of 28.12 billion yuan in the first half of the year, and adjusted net profit of 1,034 billion yuan. The total number of stores has reached 16,783, covering 28 provinces, 1,327 counties and all line cities across the country. Retail sales of snack food and beverage products ranked first in the industry in 2024. In September 2025, according to the certification of Frost & Sullivan, a third-party authority, Ming Ming was very busy becoming the first company in the industry to break through 20,000 stores, further consolidating its leading position in the market.

As the largest snack food and beverage chain retailer in China, Ming Ming is very busy integrating the “Snacks Are Very Busy” and “Zhao Yiming Snacks” brands, integrating the management system and unified organizational structure to achieve seamless collaboration and standardized operation, and comprehensively improving supply chain and operational efficiency through group operations. According to data from the China Chain Management Association, Ming Ming is busy ranking in the top 10 of the Chinese chain industry in 2024, and is the only company among them to sell snacks in volume.

Judging from the quality of operations, Ming Ming was very busy, showing a healthy development trend. As of June 30, 2025, Mingming's cash balance at the end of the period exceeded 2,394 billion yuan, and the net current asset value increased to 2,827 billion yuan. Cash was sufficient, asset circulation was efficient, and the financial structure was stable. The net operating cash flow for the first half of 2025 was RMB 1,395 billion, reflecting strong hematopoietic capacity. The number of inventory turnover days in the first half of 2025 was only 11.7 days, which is significantly superior to the industry average and highlights efficient supply chain management capabilities.

“Ming Ming is very busy and still maintains strong growth momentum and stable profitability.” A senior investment banker said, “The company has gradually moved from a 'period of rapid expansion' to a 'period of systematic and steady growth', representing a new stage in China's snack food and beverage chain retail industry.”

Currently, the Hong Kong IPO market is gradually picking up. A total of HK$107.1 billion was raised in the first half of the year, an increase of seven times over the previous year, and has surpassed the amount raised for the full year of 2024, ranking first in the world. At the same time, due to factors such as the large number of companies queuing up and the extended review cycle, it has become the norm for the Hong Kong Stock Exchange to be updated. Recently, Hong Kong Stock Exchange Chief Executive Chen Yiting said that currently more than 300 companies are lining up for listing in Hong Kong, reflecting China's strong economy. Industry insiders pointed out that Ming Ming is busy updating the prospectus this time is a routine move in the Hong Kong stock listing process. As a popular company in the consumer sector, it is highly anticipated that it will go public in Hong Kong.

On April 28, 2025, Ming Ming was busy submitting a prospectus to the Hong Kong Stock Exchange. According to the data, in 2024, the company's GMV was 55.5 billion yuan, and the number of stores was 14,394. As China's snack food and beverage chain retail industry enters a new stage of high-quality growth, Ming Ming is busy and is expected to become a long-term leader in this industry.