01768 鳴鳴很忙
BUSYMING
BUSYMING
| Register Close | 2026/01/23 IPO Closing in 2 Days |
| Listing Date | 2026/01/28 |
|
|
|
|
|
|
|
|
|
|
IPO Detail
COMPANY PROFILE
Busy Ming Group Co. is an established and robustly growing food and beverage retailer in China.
--
As of September 30, 2025, the Group’s store network comprised 19,517 stores covering 28 provinces and all city tiers in China, with approximately 59% of stores within its store network located in counties and townships. In the nine months ended September 30, 2025, the Group recorded a GMV of RMB66.1 billion, representing an increase of 74.5% from the same period in 2024.
--
According to the report, in terms of GMV of snack and beverage products in 2024, the Group is the largest chain retailer in China; in terms of GMV of food and beverage products in 2024, it is the fourth largest chain retailer in China and maintain a rapid growth. According to China Chain Store & Franchise Association, the Group is one of the 2024 Top 10 chain stores in China, as well as the fastest-growing chain store among the Top 10 chain stores in 2024.
--
The Group own two brands, “Busy for You” and “Super Ming”. The Group had a total of 3,997 in-stock SKUs as of September 30, 2025. The Group’s customers include the franchisees who operate franchised stores pursuant to the franchise agreements, and it generated a substantial majority of revenue from sales of goods to franchisees and fees for franchising services.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Food & Beverages |
| Major Business Area | China |
| Board Lot | 100 |
GLOBAL OFFERING
| No. of Offer Shares | 14.10M H shares |
| No. of International Offer Shares | 12.69M H shares |
| No. of HK Offer Shares | 1.41M H shares |
| Offer Price | $229.60 - $236.60 |
| Stock Code | 1768 |
| Sponsor(s) | Goldman Sachs (Asia) L.L.C., Huatai Financial Holdings (Hong Kong) Limited |
| Underwriter(s) | Goldman Sachs (Asia) L.L.C., Huatai Financial Holdings (Hong Kong) Limited, Deutsche Bank AG, Hong Kong Branch, Haitong International Securities Company Limited, SPDB International Capital Limited, Futu Securities International (Hong Kong) Limited |
TIME TABLE
| Application Period | Jan 20 (Tue) - noon, Jan 23 (Fri) |
| Price Determination Date | Jan 26 (Mon) |
| Result Announcement Date | On or before Jan 27 (Tue) |
| Result Announcement Date | On or before Jan 27 (Tue) |
| Result Announcement Date | On or before Jan 28 (Wed) |
| Dealings in Shares commence on | Jan 28, 2026. (Wed) |
Reallocation of Shares Offered
Sales Statistics (HKD)
| Offer Price | $229.60 - $236.60 |
| Capitalization (H Shares) | 48.72B - 50.20B |
| NAV / share ($) | $34.93 - $35.37 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 233.1, the net proceeds raised would be HKD 3.12B, of which |
| 25% : Enhancing supply chain capabilities and improving product development capabilities |
| 20% : Upgrading store network as well as the continuous empowerment of franchisee |
| 20% : Brand building and promotional activities |
| 20% : Upgrading technology capabilities and digitalization |
| 5% : Selectively pursuing strategic investment and acquisition opportunities |
| 10% : Working capital |
Related Document
| Prospectus |  Chinese Version | English Version |
| Remark： | The above information is referenced from the prospectus. |
| All data is calculated from the non- exercise rights(if applicable). |
Name︰
--
--
--
Subscription --
Result Announcement --
Listing --Offer Price︰--
| Currency | : |
| Listing Price | : |
| Board Lot | : |
| Admission Fee* |
: |
| Subscribing Lot | : |
| Subscribing Fee | : |
| Subscribing Amount | : |
*Admission fees include brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.005% and FRC transaction levy of 0.00015% (i.e. 1.0077% in total).