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Transimage Media Group plans to list in Hong Kong. The company responded that it has no plan to list at present.

AInvestFriday, Aug 9, 2024 3:00 am ET
1min read

Recently, there were market rumors that Miming Busy Group planned to go public in Hong Kong, and it is currently building the relevant team. Miming Busy Group responded on August 9 that it does not have plans to list.

According to public information, Miming Busy Group was founded in 2017, with its headquarters in Changsha, Hunan. Zhao Yiming Snack was founded in 2019, with its headquarters in Yichun, Jiangxi. In November 2023, the two companies officially merged to form the "Miming Busy Group". In June 2024, the Miming Busy Group changed its name to Miming Busy Group. The data shows that the group now has more than 10,000 stores, 8,000 employees, and more than 50,000 store staff, making it the first million-store brand in the snack chain industry.

It is understood that the merged "Miming Busy Group" has begun to focus on three major directions. In terms of products, Miming Busy Group will expand from enriching product categories, creating excellent cost performance, and innovation and regionalization. In terms of operations, Miming Busy Group will launch a full-scale attack from standardized construction to digital marketing, providing all-round support for franchisees, and working closely with franchisees to make it easier for stores to do business. In terms of recruitment, "open a good store and break a million stores" has been clearly defined as the 2024 annual goal of Miming Busy Group, and a series of large-scale preferential franchise policies, including "five preferential items for free" and "one-time store opening subsidy of 10,000 yuan" have been announced.

Miming Busy Group and Zhao Yiming Snack are highly favored by capital. In April 2021, Miming Busy Group completed a RMB 2.4 billion A round financing, led by Red Pine China and Gao Run Capital. In April 2023, Zhao Yiming Snack completed a RMB 150 million A round financing, led by Black Ant Capital and backed by Liangpin Pavilion. In December 2023, Good Ni Ni and Saltz Pufu Holdings respectively invested RMB 700 million and RMB 350 million in Miming Busy Group. The post-investment valuation of Miming Busy Group soared to RMB 10.54 billion.

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