If Weilong’s revenue exceeds 10 billion and maintains a high growth rate, it is expected to surpass the three squirrels and become the first echelon of domestic leisure snacks.
The legendary leader Weilong plans to go public in Hong Kong in the second half of next year
According to reports, Weilong Foods plans to go public in Hong Kong in the second half of next year, raising US$1 billion. Currently working with CICC and Morgan Stanley Herui discusses related matters.
As the leading brand in the spicy strip industry, Weilong’s total revenue reached 4.9 billion yuan in 2019, an increase of 43% year-on-year. The revenue target for 2020 is 7.2 billion yuan, and the revenue target for 2021 is 10 billion yuan. yuan.
In comparison, Three squirrels revenue in 2019 will be 10.173 billion yuan, 2020 In the first half of the year, revenue of 5.252 billion yuan, Best Shop revenue in 2019 will be 7.715 billion yuan, in 2020 The half-year revenue is 3.61 billion yuan. If Weilong’s revenue exceeds 10 billion and maintains a high growth rate, it is expected to catch up with the three squirrels and become the first echelon of domestic leisure snacks.
WeiLong Chuang was established in 1999. In addition to spicy strips, Weilong’s products also include konjac powder , Potato chips, crispy rice, beef, chicken feet, marinated egg, spicy hot pot, etc. In 2015, Weilong’s e-commerce channel has been established and stationed on e-commerce platforms such as JD.com, Taobao and Tmall. In 2016, Weilong achieved a brand image upgrade by planning hot events such as Apple Wind and Internet celebrity live broadcasts. Weilong opened in 2018 Channels are sinking, and sales terminals are fully covered.
As early as the end of 2018, Weilong was exposed to seek listing in Hong Kong, but the official did not respond. At that time, there was another news that Weilong was on the reserve list for listing in Luohe City, but it was not considered for listing for the time being.
Editor-in-chief’s comment: Weilong’s IPO is likely to supplement funds, expand product lines, and enhance the brand’s comprehensive competitiveness. Although from the perspective of revenue scale, Weilong is catching up with brands such as Three Squirrels and Liangpin Shop, Weilong’s product structure is relatively simple, and prices are also concentrated in the low-end and mid-range. It needs to expand its categories and extend to the high-end market. This requires increased investment. Although it is not difficult for the snack food industry to expand its categories, with Weilong’s current size, it is not easy to create a new growth engine beyond the core category of spicy noodles in the short term…… p>
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