Futu News on November 15th, according to the Hong Kong Stock Exchange disclosure, Weilong has passed the hearing of the Hong Kong Stock Exchange, with Morgan Stanley, CICC, and UBS Group as joint sponsors.
Company Overview
Weilong is a leading Chinese spicy snack food company with strong growth momentum. According to Frost & Sullivan data, based on 2020 retail sales, the company ranks first among all Chinese spicy snack food companies, with a market share of 5.7%, and ranks first in market share in the seasoning noodle products and spicy snack vegetable products sub-categories.
Baijue is a leisure snack food brand loved by young consumers in China. According to Frost & Sullivan's data, 95.0% of the consumers are 35 years old and below, and 55.0% of them are young people aged 25 and below. At the same time, the company is the most well-known and loved spicy leisure snack food brand in China. In terms of brand awareness, it is the number one leisure snack food brand in the minds of young people aged 25 and below.
Financial Overview
The company's revenue for 2018~2020 was approximately 2.752 billion yuan, 3.385 billion yuan, and 4.12 billion yuan respectively, with a compound annual growth rate of 22.4%; according to Frost & Sullivan's report, this growth rate far exceeds the 4.1% CAGR of the Chinese leisure snack food industry during the same period. The revenue for the first six months of 2021 was 2.303 billion yuan, an increase of about 22.0% year-on-year.
The company's net income for 2018~2020 was 0.476 billion yuan, 6...