Green Tea Group Clears Hong Kong Listing Hearing, 29.8% Restaurant Growth

Green Tea Group, a well-known operator of casual Chinese restaurants, has successfully passed the listing hearing on the main board of the Hong Kong Stock Exchange. The company, which operates a network of 489 restaurants across 21 provinces and four municipalities, has been supported by Citibank and China International Capital Corporation as joint sponsors for its listing process.

Green Tea Group's restaurant network has experienced significant growth. The total number of restaurants increased from 276 as of December 31, 2022, to 465 as of December 31, 2024, with a compound annual growth rate of 29.8%. The overall number of guests served increased from 57.9 million in 2023 to 68.1 million in 2024.

In 2024, the company ranked third in terms of the number of restaurants and fourth in terms of revenue among casual Chinese restaurant brands in China. The casual Chinese restaurant market is highly fragmented with many participants, and Green Tea Group held a 0.7% market share in 2024. The average consumer spending in casual Chinese restaurants ranges from 50 to 100 yuan.

This development marks a significant milestone for Green Tea Group, which has been working towards its public listing for several years. The company's extensive restaurant network and strong market presence in China have positioned it well for growth in the competitive casual dining sector. The successful passage of the listing hearing is a testament to the company's financial health and operational efficiency, paving the way for its future expansion and development.