[Jierong listing] Jierong submitted an application for listing on the motherboard McDonald's and Cuihua are all his customers!

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Jierong International, a well-known black tea and coffee supplier, has submitted preliminary listing documents to the Stock Exchange. BOC International and Shanghai Bank International are co-sponsors and plan to list on the main board. According to its initial public offering documents, Jie Rong currently has access to about 60% of the restaurants in Hong Kong, and its customers include McDonald's, Yoshino, Gentle (341), Grand Happy (052), Cuihua (1314), and so on.

With a history of 85 years, Jie Rong provides black tea and coffee planning services to commercial customers. it also started the food business in China and Hong Kong in 2013, and launched the frozen top food business in Hong Kong in 2015 and China last year respectively. In the six months to the end of June, Jierong's revenue in 2017 was HK $456 million, up 12.5 per cent year-on-year, with 77 per cent from catering planning services and 23 per cent from food business in the first half of this year. The profit in the first half of this year was 32.788 million yuan, down 18 percent year-on-year, the gross profit was 141 million yuan, up 6.8 percent year-on-year, and the gross profit margin fell 1.6 percent to 30.8 percent in the first half of this year.

Statistics show that in terms of a cup of coffee of 9 to 12 grams, Jierong sold 244 million to 325 million cups of coffee a year last year, with an average daily sales of 668000 to 890000 cups of coffee.

In addition, Debao, which is engaged in the design, development, manufacture and sale of beauty products, has also submitted preliminary listing documents and plans to list on the gem, with sponsors financing for Lego enterprises.

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