Auntea Jenny has joined China’s fruit teas IPO queue in Hong Kong,Watch Mound Daughter following peers ChaPanda, GoodMe, and Mixue, in a bid to increase the funding scale amid intensifying industry competition. The Shanghai-founded beverage chain filed its prospectus to the Hong Kong Stock Exchange on Wednesday, with CITIC Securities, Haitong International, and Orient Securities serve as its joint sponsors. Auntea Jenny has opened 7,297 stores as of Sept. 30, and 99.3% of them are operated by franchisees. According to the company’s prospectus, it sold RMB 7.18 billion worth of beverages in the first three quarters of 2023. During this period, revenue amounted to RMB 2.54 billion, a 54% growth compared to the previous year, while net profit surged by 188.7% to RMB 320 million. [TechNode reporting]
