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Chinese language highly spiced scorching pot chain Yang Guo Fu on Tuesday submitted an software for a list at the Hong Kong Inventory Change (HKEx), with China Securities World serving as its unique sponsor.
The historical past of the logo can also be traced again to 2003, when founder Yang Guofu and his partner opened their first self-operated highly spiced scorching pot eating place named “Yangji Highly spiced Scorching Pot” in Harbin, a northeastern Chinese language town. In 2007, the trademark “Yang Guo Fu” was once registered as the logo identify of all affiliated eating places.
After a number of years of construction in northern and central China, Yang Guofu’s members of the family collectively established the corporate in Shanghai in November 2015. In December 2021, the corporate was once reorganized right into a restricted corporate.
Consistent with the record Yang Guo Fu submitted to the HKEx, as of September 30, 2021, the corporate operated 5,783 eating places globally, together with 3 self-operated eating places in Shanghai, 5,759 franchised eating places in 31 provinces and towns in China, and 21 out of the country franchised eating places in Australia, Canada, South Korea, the US, Japan and Singapore.
Consistent with Frost & Sullivan’s document, Yang Guo Fu ranked first in China’s highly spiced scorching pot marketplace when it comes to earnings, GMV and selection of eating places, as of December 31, 2020.
Yang Guo Fu disclosed within the prospectus that the franchise eating places is the primary supply of source of revenue, together with franchise charges, machine repairs charges and the gross sales of products to franchisees.
The corporate additionally disclosed that during 2019, 2020 and the primary 9 months of 2021, it earned earnings of 181 million yuan ($29 million), 169 million yuan and 202 million yuan, respectively.
Despite the fact that Yang Guo Fu is the primary highly spiced scorching pot logo in China to try a public record, its benefit style has been observed as debatable by means of the general public. Since its status quo, it’s been depending at the franchise mode to enlarge, nevertheless it can not regulate meals protection requirements smartly. Lately, such issues had been uncovered repeatedly.
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In July closing 12 months, a video blogger made a personal consult with to Yang Guo Fu, simplest to search out that there was once mouse excrement far and wide within the warehouse and workers persevered to make use of the substances that had been bitten by means of mice. Yang Guo Fu issued an apology commentary, and lots of shops had been ordered to go through rectification and gained consequences.