Visual China.
Blue Whale Financial Reporter Zhang Jinglun.
On December 28, the Hebei Securities Regulatory Bureau disclosed CICC's "Report on the Initial Public Offering and Listing Guidance of Junlebao Dairy Group Shares". According to the report, Junlebao Dairy Group has signed a mentoring agreement with CICC on December 22, 2023.
This means that Junlebao officially launched the A-share IPO process. In fact, as early as July 2022, Junlebao announced the official launch of the IPO and said that it would strive to complete the listing in 2025. On December 15 this year, Junlebao completed the shareholding system reform and increased the registered capital to 7200 million yuan, and add a new scope of production and operation of formula food for special medical purposes.
The relevant person in charge of Junlebao said that the completion of the shareholding system reform and the application for counseling and filing is a necessary step for the company's capital market strategy to promote, and through counseling, it will further improve the level of corporate governance and the quality of operation and management, and escort the future development of Junlebao. Regarding the promotion of the company's capital market strategy, the company will also strictly follow the relevant requirements of the regulatory authorities for information disclosure and disclose it in a timely manner in accordance with the law.
Junlebao has entered the listing counseling stage, which means that it is possible to list on the A-share market next year. Dairy analyst Song Liang told the Blue Whale financial reporter that through the listing, further financing can be obtained, and enterprises can be promoted to build an industrial chain system, strengthen technical reserves and innovation, and accelerate the construction of a digital marketing system and a modern enterprise management system. At the same time, with the help of listing, enterprises can be promoted to establish a good equity incentive mechanism.
As the head brand of China's dairy industry, Junlebao has done a very good job in the integrity of the industrial chain and is in a very leading position in the field of low temperature. If there is the empowerment of the capital market, it will have a better blessing for the sustainable development of Junlebao in the future and the release of its core competitiveness. We are very confident in the listing of Junlebao. Zhu Danpeng, an analyst of China's food industry, said.
Tianyancha shows that Junlebao Dairy Group was established in 2000, and the legal representative is Wei Lihua, who directly holds 37 of the company5431% equity, directly and indirectly through Zhuhai Hengqin Lehui Ruisheng Enterprise Management Center (Limited Partnership), Zhuhai Hengqin Yuehui Xinghong Enterprise Management Center (Limited Partnership), Shijiazhuang Zhenle Cheng Enterprise Management Center (Limited Partnership), Zhuhai Hengqin Yuehui Xinghong No. 1 Enterprise Management Center (Limited Partnership), Zhuhai Hengqin Runde Zhiying No. 2 Enterprise Management Center (Limited Partnership) total control of the Company 527831% equity.
It is worth noting that Junlebao has made frequent moves in the past six months, and has continuously improved its strength through mergers and acquisitions and investment. In May this year, Junlebao completed the capital increase of Yunnan Lysil Dairy. In July, Junlebao won 80% of the shares of Xi'an Yinqiao Dairy Technology in one fell swoopIn November, Junlebao signed a strategic cooperation agreement with the ready-made yogurt brand Mo Yogurt, and invested 30% of the shares of Mo YogurtIn December, Junlebao strategically invested in Yiran Bio, a probiotic company. Song Liang told the Blue Whale financial reporter that the acquisition will increase the fixed assets, and there will be a good valuation for the company.
According to Li Jiaqi, senior consultant of CIC Insight Consulting, Junlebao has become a leading comprehensive dairy enterprise in China. With the help of capital market injection, Junlebao will be able to accelerate the speed of its whole industry chain layout and continue to enrich its product structure, and accelerate the realization of its strategic goals in 2025.
Li Jiaqi believes that Junlebao's continuous external layout has enhanced the brand's product and channel power on the one hand, obtained high-quality regional milk sources through the acquisition of Lysil Dairy and Yinqiao Dairy, and achieved regional market expansion with the help of the regional strength of local dairy enterprises. On the other hand, Junlebao has set foot in the dairy industry segment through a diversification strategy, and has invested in Mo Yogurt and other cheese companies to expand Junlebao's product structure, and also show investors a new growth pole, establish a larger imagination space, and help impact the IPO.
In addition, according to the information on the official website, Junlebao has 25 production plants and 25 modern large-scale ranches in Hebei, Henan, Jiangsu, Jilin and other places. The business scope includes infant milk powder, yogurt, low-temperature fresh milk, room temperature liquid milk and dairy cow breeding, animal husbandry, grass industry and other sectors, and its brands include Xiaoxiao Luban milk powder, pure yogurt, Yuexian fresh fresh milk, Baixiao pure milk, etc. According to the data provided by Junlebao, Junlebao's simple and mellow yogurt is the first brand of low-temperature yogurt, Yuexian fresh milk is the first brand of high-end fresh milk, Junlebao milk powder is leading in production and sales, and Junlebao's dairy cow inventory is in the forefront of the industry. Junlebao has revealed that it will strive to achieve sales revenue of 50 billion yuan in 2025.
Since its establishment, Junlebao has received investment from well-known institutions such as Sequoia China, Primavera Capital, Ping An Venture Capital, Hillhouse, Construction Investment Ventures, Bojia Capital, Hongzhang Investment, Hosen Investment, Wumart United Capital, Ruisheng Capital and so on. Before the IPO, Sequoia China held Junlebao 1284% of the shares, the largest external investor, Sequoia China Managing Director Guo Zhenwei as a director of Junlebao;Primavera Capital also holds more than 10% of the shares of Junlebao.
According to the implementation of Junlebao's strategy, it has a very good blessing for Junlebao's overall brand effect, scale effect and fan effect in the future. On the whole, with the current superiority of the entire ** chain and the multi-category layout, the IPO should be very smooth, and the stock price will not be bad. Zhu Danphong said.