IPO News | Yuanji Foods' Hong Kong stock IPO and “full circulation” of domestic unlisted shares were registered by the China Securities Regulatory Commission

The Zhitong Finance App learned that on July 17, the International Cooperation Department of the China Securities Regulatory Commission issued the “Notice on the “Full Circulation” of Yuanji Food Group Co., Ltd. issued and listed overseas and unlisted domestic shares. The company intends to issue no more than 23,824,000 overseas listed common shares and list them on the Hong Kong Stock Exchange. The 20 shareholders of the company intend to convert their holdings of a total of 82,176,253 domestic unlisted shares into overseas listed shares and list them for circulation on the Hong Kong Stock Exchange.

Yuanji Foods owns the restaurant brand “Yuanji Yunjiao” and the retail brand “Yuanji Taste”. According to its prospectus, in 2023 and 2024, Yuanji Foods achieved revenue of 2,026 billion yuan and 2,561 billion yuan respectively, an increase of 26% over the previous year. Adjusted net profit for the first nine months of 2025 was 192 million yuan, an increase of 31% over the previous year.

As of September 30, 2025, Yuanji Foods had 4,266 stores. The total GMV of stores increased 31% from 4.772 billion yuan in 2023 to 6.248 billion yuan in 2024. According to a report from Insight Consulting, Yuanji Foods is the Chinese fast food with the largest number of stores in China and the world, and is also the largest dumpling wonton company in China.

The names of “fully circulating” shareholders and the number of conversions are as follows: