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IPO Update | Pagoda GP is currently in the subscription period, with an expected listing on January 16

Futu News reported on December 29,$PAGODA GP (02411.HK)$Currently in the subscription period, the offering runs from December 29, 2022, to January 9, 2023. The company plans to issue 78,947,500 shares, of which 7,895,000 shares will be for public offering and 71,052,500 shares for international offering. The offering price is between HKD 5.0 and HKD 6.2 per share, with a board lot of 500 shares, expecting to list on January 16, 2023.
Futu News reported on December 29,$PAGODA GP (02411.HK)$Currently in the subscription period, the offering runs from December 29, 2022, to January 9, 2023. The company plans to issue 78,947,500 shares, of which 7,895,000 shares will be for public offering and 71,052,500 shares for international offering. The offering price is between HKD 5.0 and HKD 6.2 per share, with a board lot of 500 shares, expecting to list on January 16, 2023. Pagoda GP is China's largest fruit retail operator. According to Frost & Sullivan, by 2021 fruit retail sales, the company ranks as China’s largest fruit retailer, holding a 1.0% share of the total market, while the top five players combined hold 3.6% of the total market share. Additionally, by fruit retail sales, the company also ranks first among all specialized fruit retail operators in China. The company owns the largest distribution network in China's fruit industry. Pagoda GP owns several nationally recognized fruit category brands and channel brands, operating China’s largest community-focused, integrated online-offline and store-warehouse fruit retail network, providing consumers with flexible delivery options such as same-day delivery and next-day delivery. Through internal development and external empowerment, Pagoda influences and manages the entire supply chain, from fruit cultivation to the retail end. The company participates in farming to ensure the production of high-quality fruits, implementing professional and standardized quality management across the whole chain to provide consumers with affordable, tasty fruits...
Pagoda GP is China's largest fruit retail operator. According to Frost & Sullivan, by 2021 fruit retail sales, the company ranks as China’s largest fruit retailer, holding a 1.0% share of the total market, while the top five players combined hold 3.6% of the total market share. Additionally, by fruit retail sales, the company also ranks first among all specialized fruit retail operators in China. The company owns the largest distribution network in China's fruit industry.
Pagoda GP owns several nationally recognized fruit category brands and channel brands, operating China's largest fruit-exclusive retail network that is community-oriented, integrated both online and offline, and combines store and warehouse functions. It provides consumers with flexible delivery services such as same-day and next-day delivery.
Through internal development and external empowerment, Pagoda GP influences and manages the entire industry chain from fruit cultivation to retail. The company participates in cultivation to ensure high-quality fruit production, implementing professional and standardized quality management across the entire supply chain. This provides consumers with affordable and delicious fruits while achieving high turnover and low wastage.
Futu News reported on December 29,$PAGODA GP (02411.HK)$Currently in the subscription period, the offering runs from December 29, 2022, to January 9, 2023. The company plans to issue 78,947,500 shares, of which 7,895,000 shares will be for public offering and 71,052,500 shares for international offering. The offering price is between HKD 5.0 and HKD 6.2 per share, with a board lot of 500 shares, expecting to list on January 16, 2023. Pagoda GP is China's largest fruit retail operator. According to Frost & Sullivan, by 2021 fruit retail sales, the company ranks as China’s largest fruit retailer, holding a 1.0% share of the total market, while the top five players combined hold 3.6% of the total market share. Additionally, by fruit retail sales, the company also ranks first among all specialized fruit retail operators in China. The company owns the largest distribution network in China's fruit industry. Pagoda GP owns several nationally recognized fruit category brands and channel brands, operating China’s largest community-focused, integrated online-offline and store-warehouse fruit retail network, providing consumers with flexible delivery options such as same-day delivery and next-day delivery. Through internal development and external empowerment, Pagoda influences and manages the entire supply chain, from fruit cultivation to the retail end. The company participates in farming to ensure the production of high-quality fruits, implementing professional and standardized quality management across the whole chain to provide consumers with affordable, tasty fruits...
Financially, from 2019 to 2021, the company’s total revenue was approximately RMB 8.98 billion, RMB 8.85 billion, and RMB 10.29 billion respectively, representing a compound annual growth rate of 7.07%. In the first half of 2022, the company’s total revenue was approximately RMB 5.91 billion, increasing by 7.05% year-over-year.
Futu News reported on December 29,$PAGODA GP (02411.HK)$Currently in the subscription period, the offering runs from December 29, 2022, to January 9, 2023. The company plans to issue 78,947,500 shares, of which 7,895,000 shares will be for public offering and 71,052,500 shares for international offering. The offering price is between HKD 5.0 and HKD 6.2 per share, with a board lot of 500 shares, expecting to list on January 16, 2023. Pagoda GP is China's largest fruit retail operator. According to Frost & Sullivan, by 2021 fruit retail sales, the company ranks as China’s largest fruit retailer, holding a 1.0% share of the total market, while the top five players combined hold 3.6% of the total market share. Additionally, by fruit retail sales, the company also ranks first among all specialized fruit retail operators in China. The company owns the largest distribution network in China's fruit industry. Pagoda GP owns several nationally recognized fruit category brands and channel brands, operating China’s largest community-focused, integrated online-offline and store-warehouse fruit retail network, providing consumers with flexible delivery options such as same-day delivery and next-day delivery. Through internal development and external empowerment, Pagoda influences and manages the entire supply chain, from fruit cultivation to the retail end. The company participates in farming to ensure the production of high-quality fruits, implementing professional and standardized quality management across the whole chain to provide consumers with affordable, tasty fruits...
In terms of net profit, from 2019 to 2021, the company’s adjusted net profit was approximately RMB 253 million, RMB 65 million, and RMB 251 million respectively, with corresponding adjusted net profit margins of 2.8%, 0.7%, and 2.4%. In the first half of 2022, the company’s adjusted net profit was RMB 205 million, growing by 33.86% year-over-year, with an adjusted net profit margin of 3.5% for the period.
Futu News reported on December 29,$PAGODA GP (02411.HK)$Currently in the subscription period, the offering runs from December 29, 2022, to January 9, 2023. The company plans to issue 78,947,500 shares, of which 7,895,000 shares will be for public offering and 71,052,500 shares for international offering. The offering price is between HKD 5.0 and HKD 6.2 per share, with a board lot of 500 shares, expecting to list on January 16, 2023. Pagoda GP is China's largest fruit retail operator. According to Frost & Sullivan, by 2021 fruit retail sales, the company ranks as China’s largest fruit retailer, holding a 1.0% share of the total market, while the top five players combined hold 3.6% of the total market share. Additionally, by fruit retail sales, the company also ranks first among all specialized fruit retail operators in China. The company owns the largest distribution network in China's fruit industry. Pagoda GP owns several nationally recognized fruit category brands and channel brands, operating China’s largest community-focused, integrated online-offline and store-warehouse fruit retail network, providing consumers with flexible delivery options such as same-day delivery and next-day delivery. Through internal development and external empowerment, Pagoda influences and manages the entire supply chain, from fruit cultivation to the retail end. The company participates in farming to ensure the production of high-quality fruits, implementing professional and standardized quality management across the whole chain to provide consumers with affordable, tasty fruits...
In the industry, according to Frost & Sullivan, the market size of China’s fruit retail market, measured by retail sales, increased from RMB 827.3 billion in 2016 to RMB 1,229 billion in 2021, with a compound annual growth rate of approximately 8.2%. The future fruit retail market is expected to see a wider variety of fruits and improved shopping experiences. China’s fruit retail market still has further growth potential, with the market size projected to grow to RMB 1,775.2 billion by 2026, reflecting an expected compound annual growth rate of 7.6% from 2021 to 2026.
Futu News reported on December 29,$PAGODA GP (02411.HK)$Currently in the subscription period, the offering runs from December 29, 2022, to January 9, 2023. The company plans to issue 78,947,500 shares, of which 7,895,000 shares will be for public offering and 71,052,500 shares for international offering. The offering price is between HKD 5.0 and HKD 6.2 per share, with a board lot of 500 shares, expecting to list on January 16, 2023. Pagoda GP is China's largest fruit retail operator. According to Frost & Sullivan, by 2021 fruit retail sales, the company ranks as China’s largest fruit retailer, holding a 1.0% share of the total market, while the top five players combined hold 3.6% of the total market share. Additionally, by fruit retail sales, the company also ranks first among all specialized fruit retail operators in China. The company owns the largest distribution network in China's fruit industry. Pagoda GP owns several nationally recognized fruit category brands and channel brands, operating China’s largest community-focused, integrated online-offline and store-warehouse fruit retail network, providing consumers with flexible delivery options such as same-day delivery and next-day delivery. Through internal development and external empowerment, Pagoda influences and manages the entire supply chain, from fruit cultivation to the retail end. The company participates in farming to ensure the production of high-quality fruits, implementing professional and standardized quality management across the whole chain to provide consumers with affordable, tasty fruits...
Regarding the use of proceeds, the company plans to allocate the net proceeds as follows: approximately 45.0% will be used to improve and strengthen the group's operations and supply chain system; about 25.0% will go towards upgrading and enhancing the group's core IT systems and infrastructure (primarily middleware); around 25.0% will be used to repay part of the group’s interest-bearing bank loans; and about 5.0% will serve as working capital and for general corporate purposes.
Concerning cornerstone investors, the company has entered into cornerstone investment agreements with three cornerstone investors: Hong Kong Baijia Da, Nantong Daosen, and Ye Rongju. Subject to certain conditions, the cornerstone investors have agreed to subscribe at the offering price for a total of approximately HKD 150 million.
Futu News reported on December 29,$PAGODA GP (02411.HK)$Currently in the subscription period, the offering runs from December 29, 2022, to January 9, 2023. The company plans to issue 78,947,500 shares, of which 7,895,000 shares will be for public offering and 71,052,500 shares for international offering. The offering price is between HKD 5.0 and HKD 6.2 per share, with a board lot of 500 shares, expecting to list on January 16, 2023. Pagoda GP is China's largest fruit retail operator. According to Frost & Sullivan, by 2021 fruit retail sales, the company ranks as China’s largest fruit retailer, holding a 1.0% share of the total market, while the top five players combined hold 3.6% of the total market share. Additionally, by fruit retail sales, the company also ranks first among all specialized fruit retail operators in China. The company owns the largest distribution network in China's fruit industry. Pagoda GP owns several nationally recognized fruit category brands and channel brands, operating China’s largest community-focused, integrated online-offline and store-warehouse fruit retail network, providing consumers with flexible delivery options such as same-day delivery and next-day delivery. Through internal development and external empowerment, Pagoda influences and manages the entire supply chain, from fruit cultivation to the retail end. The company participates in farming to ensure the production of high-quality fruits, implementing professional and standardized quality management across the whole chain to provide consumers with affordable, tasty fruits...
Further Reading:Infographic | Pagoda GP’s Hong Kong IPO: China's Largest Fruit Retailer
Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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