Three consumer companies receive new funds; Guming is about to go public; Douyin E-commerce reduces the deposit | A broad perspective on venture capital and investment.
Organized by Lan Jie
Busy Money
Qisuanfa, as an enterprise of Zhipu Z Plan, obtains a strategic investment of tens of millions of yuan
36Kr has learned that Chongqing Qisuanfa Technology Co., Ltd. (hereinafter referred to as "Qisuanfa"), a pet large model health company, as an enterprise of Zhipu Z Plan, has recently received a strategic investment of tens of millions of yuan, exclusively invested by Z Fund. The funds raised will be mainly used for product research and development and commercialization. Qisuanfa is about to start the Series A financing, with Yuanhe Capital as the exclusive financial advisor.
Qisuanfa was established in July 2022 and is a large model technology company focusing on pet health. The company is using the multi-modal capabilities of the large model to create a pet health brand that integrates online and offline, software and hardware.
The catering brand Hanzhuowei receives 45 million RMB in financing
Hanzhuowei is an ethnic characteristic catering brand operator. It has recently completed a Series A financing of 45 million RMB, led by Huicai Investment. The funds obtained from this financing will be mainly used for the further expansion and upgrading of the Hanzhuowei brand, covering product research and development, marketing, and team building.
The coffee brand Chelvies obtains a $1 million seed round financing
Recently, according to the news from IT Juzi, the characteristic coffee brand Chelvies has obtained a $1 million seed round financing, exclusively invested by Endurance Capital. Chelvies is known for its unique series of coffees and hand-baked pastries, and is committed to providing consumers with a high-quality coffee experience. With this financing, Chelvies will further expand its product line, enhance brand influence, and accelerate market layout.
Company Intelligence
Gu Ming is expected to land on the Hong Kong Stock Exchange on February 12
According to the recent Hong Kong Stock Exchange announcement of Gu Ming, its public offering will be from February 4 to February 7, with the pricing range of HK$8.68 to HK$9.94, and it is expected to officially land on the Hong Kong Stock Exchange on February 12. This means that Gu Ming will become the third mainland new tea drink brand listed in Hong Kong after Nayuki and Chabaidao.
Gu Ming's global offering of shares is approximately 159 million shares, of which the international offering of shares is approximately 143 million shares, accounting for 90%; the Hong Kong public offering of shares (subject to reallocation) is approximately 15.8612 million shares, accounting for 10%. If calculated based on the offering price of HK$9.31 per share (that is, the median of the indicative offering price range), after deducting the underwriting fees and commissions and other estimated offering expenses paid for the global offering, Gu Ming is expected to receive a net proceeds of approximately HK$1.356 billion from the global offering. In addition, Gu Ming's IPO has introduced five cornerstone investors including Tencent and Yuansheng Capital, who have collectively subscribed for approximately HK$553 million in shares.
Previously, becoming the "third share" of the new tea drink was once the focus of competition among Mixue Bingcheng, Shanghai Auntie, and Gu Ming. Now Gu Ming has taken the lead in finalizing the listing date, taking a step ahead, while Mixue Bingcheng and Shanghai Auntie have also submitted their applications to the Hong Kong Stock Exchange and are waiting for a hearing. The reason for the clustering of new tea drink brands to go public is not difficult to see - the market size of the track has peaked, and in the context of stock competition, going public is one of the few ways out.
TikTok E-commerce reduces merchants' deposit, with a maximum reduction of 85%
36Kr has learned that on February 6, the TikTok E-commerce Rules Center updated the new rules for adjusting the deposit and "0-yuan settlement": reducing the deposit of merchants in 34 first-level categories, with a maximum reduction of 85%; at the same time, for the first time, a large number of 1,345 sub-categories are opened for "0-yuan settlement", reducing the settlement cost for new merchants and helping merchants lower the business threshold.
It is reported that in the 34 categories whose deposit has been reduced, more than half of the categories have a reduction of more than 50%, with the highest reaching 85%. Among them, the deposit for several categories such as grain, oil, rice, flour, snacks, children's clothing, and bedding has been reduced to only 500 yuan, which is also the first time that TikTok E-commerce has reduced the merchant deposit to less than 1,000 yuan.
At the end of last year, the "2024 TikTok E-commerce Live Broadcasting Development Report for Small and Medium-sized Merchants" released by TikTok E-commerce showed that in 2024, the cumulative self-broadcasting sales of small and medium-sized merchants exceeded 659.1 billion yuan.
For TikTok E-commerce, whether it is to enrich the e-commerce scene or ensure the low-price advantage, small and medium-sized merchants are an indispensable part. However, the increasing purchase cost of TikTok E-commerce year by year and the high entry threshold have prompted more and more small and medium-sized merchants to flock to platforms with dividends such as Xiaohongshu and WeChat E-commerce. Now, TikTok E-commerce has once again released a positive signal that is beneficial to small and medium-sized merchants.
After sprinting to the Hong Kong Stock Exchange, Laoxiangji will start the roadshow for listing in Hong Kong
According to the news from Unicorn Early Know, Laoxiangji will start the management roadshow for listing in Hong Kong in late February, with a transaction size of approximately US$150 million (equivalent to approximately RMB 1.08 billion). Previously, Laoxiangji submitted its application to the Hong Kong Stock Exchange Main Board.
As of the nine months ended September 30, 2024, Laoxiangji provided services to more than 189 million customers. During the same period, Laoxiangji had more than 23.7 million registered members, including approximately 9.5 million active members and 500,000 paying members.
According to CIC, in terms of the total transaction volume in 2023, Laoxiangji ranked first in the Chinese-style fast food market in China; in the first three quarters of 2024, the number of its registered members and paying members also ranked first among Chinese fast food companies in China.
Since it began preparing for the IPO in 2021, Laoxiangji has failed to sprint to the A-share market three times, and then transferred to the Hong Kong stock market. However, whether it can maintain its current momentum and break the dilemma of the difficulty in listing for catering enterprises in recent years remains to be verified.
Smithfield Foods is listed on the Nasdaq
36Kr has learned that Smithfield Foods has been listed on the Nasdaq with an offering price of $20 and a market value of $7.949 billion.
It is introduced that Smithfield was established in Virginia in 1936 and is one of the largest pork producers in the world, with more than 500 farms and cooperation with 2,000 farms, with an annual processing capacity of 27 million pigs. The prospectus shows that Smithfield's packaged meat business ranks second in the US market with a market share of approximately 20%.
At the same time, it is also a supplier to large chain supermarkets and restaurants such as Walmart, Sam's Club, and McDonald's.
The veteran domestic beauty brand Softee plans to go public on the Nasdaq through an IPO
Recently, the veteran domestic beauty brand Softee publicly disclosed its prospectus with the US Securities and Exchange Commission (SEC), planning to go public on the Nasdaq through an IPO. According to the prospectus, Softee's initial public offering (IPO) pricing range is $4 to $6 per share, and it plans to raise $15 million through this IPO. Softee plans to use 30% of this fund to support the company's business operations, 30% for potential strategic investments and acquisitions, 20% for research and development and data analysis, and 20% to expand the online sales network.
Softee was founded in 1988 and focuses on personal care and beauty products. Its brands include Softee, Softee Oriental Herbal, iSoftto, Dakeshu, Qingyuan, Weiyou, etc.
This veteran domestic beauty brand with a long history successfully became popular and entered the A-share market in the early days with concept marketing products such as seaweed weight-loss soap, papaya whitening soap, and hair care negative ion shampoo. However, due to backward channel construction, brand aging, its own decision-making mistakes, and intensified industry competition, Softee fell into a situation of consecutive losses and was delisted in 2021. Now, it is trying to open a new chapter by relying on the IPO.
Future Idea
The first store of Wumart's "Fat Donglai" version will open for business in March
The first self-adjusted store of Beijing Wumart that learns from Fat Donglai is determined to be Xueqing Road Store. The store will be closed for adjustment from February 10 and will resume normal business at 9:30 am on March 21.
According to the "Explanation on Wumart Supermarket Xueqing Road Learning from Fat Donglai for Self-Adjustment" released by Wumart, the adjustment involves multiple links such as supply chain optimization, commodity procurement, store layout adjustment, and employee training.
Previously, Yonghui Supermarket also underwent a Fat Donglai-style adjustment. The sales of the first store adjusted in Beijing increased by 6 times on the opening day. Before the Spring Festival, Yonghui Supermarket has completed the adjustment of 41 stores and is accelerating the pace of adjustment. In February, Yonghui Supermarket plans to continue to complete the adjustment of 13 stores in 10 cities including Fuzhou, Shanghai, Xi'an, Dongguan, and Shenzhen. At the same time, due to reasons such as channel diversion and economic downturn, the supermarket industry is facing a more challenging business environment.
JOOCYEE's Valentine's Day limited edition "Oyster Heart" series of cosmetics is launched
36Kr has learned that JOOCYEE launched the Valentine's Day limited edition "Oyster Heart" series of cosmetics in February. The new series adopts a limited packaging with white satin light and pearl embellishments, including 2 water essence mirror lipsticks, 2 new color honey powder blushes/highlighters, and a new color palette of twelve-color eye shadow palette.
Data Reading of Consumption
The average daily sales of industries related to consumption during the Spring Festival holiday increased by 10.8% year-on-year
Recently, according to the State Taxation Administration, the data of value-added tax invoices shows that the average daily sales revenue of industries related to consumption during the Spring Festival holiday increased by 10.8% year-on-year compared with the previous year. Among them, commodity consumption and service consumption increased by 9.9% and 12.3% respectively. With the support of the policy of replacing old consumer goods with new ones, the consumption growth rate of household appliances and home furnishing products is relatively high, the demand for tourism, cultural, artistic and sports services is strong, and the consumption of grain, oil and food products shows a good growth trend.
The gold price reaches a new high, and the demand for gold investment may continue to strengthen
Recently, the gold price has reached a new historical high. The international gold price has continuously set new record highs on February 6, and the domestic gold price continues to rise. Many prices are reported at 869 yuan per gram, with the highest reported at 872 yuan per gram. According to the Economic Information Daily, the domestic gold jewelry price has also risen. On February 5, the gold jewelry price in many stores has reached as high as 863 yuan per gram, which has generally increased by about 27 yuan compared with the price before the Spring Festival. Experts said that it is expected that the gold price will remain at a high level within the year, the demand for gold jewelry may continue to weaken, and the demand for gold investment is expected to continue to maintain a growth trend.
Jianghai Securities: The profitability of the beer industry may continue to improve in 2025
36Kr has learned that the research report of Jianghai Securities stated that the high-end process of the beer industry in 2024 has slowed down due to the impact of the macroeconomy. In the long term, the domestic beer industry still has a large space for product structure optimization. The beer industry may recover with the recovery of the macroeconomy in 2025. It is expected that there will be no large-scale price war on the price side. Under the downward trend of the cost side, the industry's profitability may continue to improve.