Leju Finance Wang MinOn December 12, Xiamen Yanzhiwu Bioengineering Co., Ltd. *** hereinafter referred to as "Yanzhiwu") landed on the Hong Kong Stock Exchange. Yanzhiwu (HK: 01497) opened flat on the first day of listing and is now trading at 10HK$42, with a turnover of 3535HK$610,000, with a total market capitalization of 48HK$5.1 billion.
According to the prospectus, Yanzhiwu is a leading brand in China's bird's nest product market, dedicated to R&D, production and sales of high-quality modern bird's nest products. According to the Frost & Sullivan report, in 2022, Yanzhiwu is the largest bird's nest product company in China's traceable bird's nest market by retail sales, with a market share of 140%。According to the same data**, in 2022, in China's bird's nest product market, Yanzhiwu also ranked first in terms of the number of bird's nest franchise stores and the number of imports certified by the Chinese Academy of Inspection and Inspection.
As of May 31, 2023, Yanzhiwu's offline sales network consisted of 91 self-operated stores and 214 offline dealers, covering 614 dealer stores in China.
According to Frost & Sullivan's report, in terms of retail sales in 2022, Yanzhiwu is the largest bird's nest product company in China's traceable bird's nest market, with a market share of 140%；In China's bird's nest product market in 2022, Yanzhiwu also ranked first in terms of the number of bird's nest franchise stores and the number of imports certified by the Chinese Academy of Inspection and Inspection.
As of the Latest Practicable Date, more than 1.8 million customers have signed up for Yanzhiwu's membership program;In the first five months of 2023, Yanzhiwu's membership program had about 117,600 registered paying customers. From 2020 to 2022 and in the first five months of 2023, the average purchase amount per registered paying customer was approximately RMB4,280, RMB4,790, RMB5,150 and RMB4,240, respectively.
As of the Latest Practicable Date, Yanzhiwu had three production bases in Xiamen City, Fujian Province, Songjiang District, Shanghai and Guanghe County, Gansu Province, with a total gross floor area of approximately 39,300 square meters. According to the Frost & Sullivan report, based on the total gross floor area as of December 31, 2022, Yanzhiwu has the largest production base of bird's nest products in China.
In terms of financial data, from 2020 to 2022, Yanzhiwu's revenue was 130.1 billion yuan, 150.7 billion and 173 billion yuan, with a compound annual growth rate of 153%；The net profit was 12.3 billion yuan, 17.2 billion and 20.6 billion yuan, with a compound annual growth rate of 292%。
In the first five months of 2023, Yanzhiwu's revenue increased by 12% year-on-year3% to 78.3 billion yuan;Net profit increased by 20% year-on-year0% to 10.1 billion yuan.
It is reported that from 2011 to 2023, Bird's Nest has hit the capital market five times, choosing between A-shares and Hong Kong stocks back and forth, and has failed four times.
Related company: Tsubame House.