According to the Hong Kong Stock Exchange, METRO Supply Chain Co., Ltd. submitted a listing application to the main board of the Hong Kong Stock Exchange, with UBS Group and China Merchants Securities International as joint sponsors.
Synthesis | Prospectus Edit | Arti
This article is for informational purposes only and does not constitute any trading advice
According to the prospectus, METRO Supply Chain is China's leading food FMCG supply chain solution provider, providing safe, high-quality products and efficient and convenient solutions for a wide range of corporate and institutional customers and retailers. It mainly includes food service and delivery solutions, welfare gift solutions and retailer delivery solutions (including product sales and supply chain services to retailers).
During the Track Record Period, METRO's supply chain provided food service and delivery solutions and welfare gift solutions to more than 52,000 and more than 88,000 customers, respectively. As of December 31, 2023, the Company provided retailer delivery solutions for 100 METRO stores, 366 Wumart supermarket stores and 304 Wumart convenience stores of Wumart Group in China.
METRO Supply Chain combines MetroAG's quality assurance standards with local practices in China and develops METRO evaluation standards. The company has also established a product traceability system, a high-quality product portfolio featuring its own brands and imported goods, and a nationwide logistics network based on a distributed warehousing and processing model, and applied digital capabilities to all aspects of the company's business.
According to Frost & Sullivan, the market size of China's food FMCG supply chain industry in terms of revenue increased from RMB7,036.6 billion in 2018 to RMB9,900.7 billion in 2023, at a CAGR of 7.1%, and is expected to continue to grow at a CAGR of 7.4% from 2023 to 2028, and is expected to reach RMB14,149.7 billion by 2028.
METRO Supply Chain competes in China's highly fragmented food FMCG supply chain industry, with the top five FMCG solution providers accounting for 0.8% of the market share in terms of revenue in 2023, according to Frost & Sullivan.
According to Frost & Sullivan, METRO Supply Chain has the following industry position in China in terms of revenue in terms of revenue in 2023: the company is the second largest food FMCG supply chain solution service provider; The second largest retail supply chain solution service provider; The fifth largest catering supply chain solution service provider and the largest group meal supply chain solution service provider; and the second largest provider of business benefits and gift solutions.
In terms of finance, in 2021, 2022 and 2023, the Company's revenue was approximately RMB27.820 billion, RMB27.102 billion and RMB24.858 billion, respectively, of which retailer delivery solutions accounted for 59.8%, 60.6% and 60.1% of the total revenue for the same period.
During the same period, the Company's profit for the year was approximately RMB332 million, -RMB471 million and RMB253 million, gross profit was RMB2.52 billion, RMB2.63 billion and RMB2.66 billion, respectively, and adjusted net profit (non-IFRS measure) was RMB110 million, RMB410 million and RMB430 million, respectively.
METRO Supply Chain has received support and recognition from many well-known investment institutions before applying for the IPO. Since its establishment, METRO Supply Chain has received investment from Ascendent Capital, IDG Capital, Abu Dhabi Government, CMB International, Tencent, Lenovo and many other institutions.
IPO前，截至最后实际可行日期，张文中博士透过中间实体合共拥有公司已发行股本约73.31%。 Rising Vista Holding、Mighty Solution、Easy Joy Ventures、腾讯、Ultimate Lenovo、National Education、福州经济技术开发区兴睿和盛股权投资合伙企业（有限合伙）等均有持股。
The proceeds from METRO Supply Chain's Hong Kong IPO are intended to be used to strengthen the company's supply chain capabilities to meet the company's growing business needs, improve the company's operational efficiency and improve quality assurance. develop new and differentiated products; Maintain and expand the Company's customer base; strengthening the digitalization of the company; Seize potential investment or acquisition opportunities to enhance the Company's supply chain network and complement the Company's business; and for working capital and general corporate purposes.