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Hongjiu Fruit Applies for Hong Kong IPO
Chongqing Hongjiu Fruit Co. Limited (Hongjiu Fruit) recently submitted a listing application to the main board of the Hong Kong Stock Exchange, with China International Capital Corporation Hong Kong Securities Limited as its sole sponsor, as disclosed on HKEXnews on Oct. 29.
Hongjiu Fruit has reportedly drawn shareholder investment from well-known investment agencies including Alibaba China, China Agricultural Reclamation, CMC Equity and Sunshine Life, which is expected to provide powerful backing to the company’s global industry integration, channel expansion, brand operations and logistics.
Hongjiu Fruit has its beginnings in 1987 and was formally established in 2002. It is the largest fruit supplier in Southwest China as well as the first company in the fruit industry listed on the over-the-counter market from the region. According to China Insights Consultancy sources, based on the first six months of 2021, Hongjiu Fruit is China’s largest private fresh fruit distributor in terms of sales revenue as well as the country’s largest durian distributor.
Hongjiu Fruit has four overseas subsidiaries, which provide a varied product portfolio comprising 49 types of fruits, including six core imports, namely, durians, mangosteens, longans, dragon fruit, cherries and grapes. The company’s lengthy efforts have yielded 18 fruit brands in 14 categories, including Taihaochi and Yuelaimei dragon fruit sourced from Thailand and Vietnam, respectively, Mi Tian Da Sheng Guichang kiwifruit from Xifeng County in Guizhou province, Fengshanghao yellow peaches from Fengjie County in Sichuan province, and Hai Mang Jun mangos and Hai Mei Li lychees from Hainan province.
Hongjiu Fruit currently has 19 sales branches and 57 sorting centers in medium- to large-sized metropolitan centers including Beijing, Qingdao, Xi’an, Chongqing, Chengdu, Guangzhou and Changsha. The scope of the brand’s national fruit sales channels covers supermarkets, terminal wholesale distributors, neighborhood group-buying services, neighborhood fresh produce chain stores and on-demand e-commerce platforms.
Image: Hongjiu Fruit
This article was translated from Chinese. Read the original article.
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