Michelle Bingcheng sprints to A shares: there are more than 20,000 stores, last year’s revenue was more than 10 billion, and the net profit was nearly 2 billion

Michelle Bingcheng sprints to A shares: there are more than 20,000 stores, last year’s revenue was more than 10 billion, and the net profit was nearly 2 billion

Beijing Shell Finance News (Reporter Yan Xia) On September 22, Michelle Bingcheng unveiled her prospectus, officially starting the IPO sprint journey, and can become the “first national chain of tea drinks”.

Mixue Bingcheng has always attracted public attention. The release of the prospectus this time allows the outside world to learn more about the company’s financial information, business model and development plan.

Michelle Bingcheng is one of the ready-made beverage chain enterprises with the largest number of stores, the largest scale, and the strongest brand influence in China. It creates a chain brand of ready-made tea drinks through the method of “direct chain as the guide and franchise chain as the main body”. Michelle Ice City”, fresh coffee chain brand “Lucky Coffee” and fresh ice cream chain brand “Ji Latu”.

As of the end of March 2022, Michelle Ice City has more than 20,000 stores, and the store network covers 31 provinces, autonomous regions and municipalities in China. At the same time, the company is actively going abroad, and by the end of March 2022, the company has opened 317 stores and 249 stores in Indonesia and Vietnam, respectively.

How is Michelle Bingcheng’s earning power?

Between 2019 and 2021 and the first three months of 2022, Mixue Bingcheng achieved operating income of approximately 2.566 billion yuan, 4.68 billion yuan, 10.351 billion yuan, and 2.434 billion yuan; in the same period, its net profit was about 442 million yuan, 631 million yuan, 1.912 billion yuan, 391 million yuan.

During the reporting period, the gross profit margin of Michelle Bingcheng’s main business was 35.95%, 34.08%, 31.73% and 30.89% respectively, excluding the impact of the company’s implementation of the new revenue standard from 2020, and including the shipping costs in the selling expenses as operating costs After the factors, the gross profit margin of the company’s main business was 35.95%, 36.67%, 33.98% and 32.99%.

At the same time, at the end of each period of the reporting period, the asset-liability ratio (combined) of Michelle Bingcheng was 41.41%, 31.26%, 24.24% and 21.76% respectively, showing a one-year downward trend after one year, which means the company has strong long-term solvency.

Compared with the average value of similar listed companies in the same industry, Michelle Bingcheng’s asset liability ratio at the end of each reporting period was relatively low. In this regard, the company explained: “This is because the profitability of the company is good. , its own funds are relatively sufficient, and the general levels of Debt are low, and debt-to-equity ratios are falling. “

In this IPO, Michelle Ice City plans to raise about 6.496 billion yuan, and plans to use 45.37% of the proceeds for production and construction projects, focusing on improving the company’s independent manufacturing capabilities, building a chain manufacturing system more powerful delivery, and at the same time 16.94% of the money raised will be used for warehousing and logistics maintenance projects to improve the company’s multi-level warehouse distribution system and improve its logistics and warehousing capabilities.

From the end of March 2022, Michelle Bingcheng has established a 252-mu intelligent manufacturing industrial park and a 130,000 square meter fully automated production workshop, which can realize the independent production of ready-made drinks and ready-made ice cream core. ingredients At the same time of the quality of the product, the cost of the company is effectively reduced.

Currently, Mixue Bingcheng is preparing to build new production bases in Guangxi, Chongqing, Henan, Hainan, Anhui and other places. After completion, the company’s independent production capacity will be further enhanced.

Edited by Song Yuting

Proofread by Yang Xuli





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