Investment and financing observation of China's consumer industry in April

Blue Shark Guide: The China Securities Regulatory Commission has introduced five measures to facilitate listing in Hong Kong

Author | Zhang Danhua

Edit | Lu Xucheng

Key takeaways:

■1. There were 42 investment and financing, and the disclosed investment and financing amount was about 1.36 billion yuan, and the number of financing increased by 2.4% year-on-year and 7.7% month-on-month

■2. In the field of food and beverage, 6 companies received financing, and the parent company of packaged drinking water "Cestbon" sprinted to the Hong Kong Stock Exchange

■3. In the catering track, Chabaidao officially landed on the Hong Kong Stock Exchange, and Haidilao overseas companies went to the United States for dual listing

■4. In the field of cross-border e-commerce, 6 companies received financing, and the cross-border seller "Aoji Technology" submitted to the Hong Kong Stock Exchange

■5. In the field of service providers, there were 6 investment and financing events, and Hangzhou Yike planned to be listed on the New Third Board

■6. In terms of clothing, shoes and hats, Keep bets on domestic yoga clothing and Mengjinyuan gold jewelry to sprint to the Hong Kong Stock Exchange

■7. In the beauty and personal care track, Oclean received 100 million yuan in financing, and Mao Geping moved to the Hong Kong Stock Exchange

■8. In the field of home furnishing department stores, the high-end home textile brand "SIDANDA" received about 100 million yuan in financing

■9. In other subdivisions, Jiandan Sports and Paipai Pet have successively received capital blessings

■10. The supervision of A-share IPOs has been upgraded, and the China Securities Regulatory Commission has introduced five measures to facilitate listing in Hong Kong

There were 42 investment and financing cases, and the disclosed financing amount was about 1.36 billion

Source: Qichacha, Tianyancha, Oriental Fortune Choice data and other public information, Blue Shark consumption collation and mapping

According to incomplete statistics from Blue Shark Consumption, from April 1 to April 30, 2024, there were 42 public investment and financing events in the new consumption field, an increase of 2.4% year-on-year and 7.7% month-on-month.

Source: Qichacha, Tianyancha, Oriental Fortune Choice data and other public information, Blue Shark consumption collation and mapping

In terms of subdivisions. In April, the number of investment and financing events in the fields of food and beverage, catering, cross-border overseas and service providers was comparable.

Compared with March, the number of investment and financing in the fields of food and beverage, service providers and toys has decreased, the investment and financing in the fields of cross-border going overseas, clothing, shoes and hats, and catering have increased to varying degrees, and the number of investment and financing in the fields of beauty and personal care has basically remained the same as that of the previous month.

Source: Qichacha, Tianyancha, Oriental Fortune Choice data and other public information, Blue Shark consumption collation and mapping

In terms of financing rounds. From the perspective of public financing rounds, investment and financing are mainly concentrated in angel rounds and A rounds, and the four companies did not disclose the investment and financing rounds.

In terms of IPOs, the second share of ready-made tea drinks, "Tea Baidao", was listed on the Hong Kong Stock Exchange and broke on the first day; the 3C consumer electronics product R&D, production and marketer "Greenlink Technology" was registered and will be listed on the Growth Enterprise Market of the Shenzhen Stock Exchange; the mid-to-high-end fitness equipment foundry "Lixuan Sports" withdrew its IPO application; after the listing of the Hong Kong stock market, the "Tehai International" that does Haidilao International business submitted its form in the United States and planned to be dual-listed; in addition, Mao Geping, Aoji Technology, and China Resources Beverage also submitted their statements this month to sprint to the Hong Kong Stock Exchange.

Source: Qichacha, Tianyancha, Oriental Fortune Choice data and other public information, Blue Shark consumption collation and mapping

In terms of financing amount, excluding listed and listed companies, according to Blue Shark Consumption's estimates, in April 2024, among the 28 financing events with public financing amounts in the new consumption field, the financing amount will be about 1.36 billion yuan.

Among them, about 1/3 of the investment and financing events have not announced the investment and financing amount, and 49% of the announced investment and financing amounts are tens of millions of investment and financing, 4 investment and financing events are millions, and 6 investment and financing events of 100 million yuan (including nearly 100 million).

Table 5: New consumer projects that received financing of 100 million yuan in April 2024

Source: Qichacha, Tianyancha, Oriental Fortune Choice data and other public information, Blue Shark consumption collation and mapping, the 100 million yuan level here contains nearly 100 million, about 100 million yuan (≥ 80 million yuan)

If the public information is correct, the 100 million yuan investment and financing events this month are similar to the previous month, and there were 5 100 million yuan investment and financing events in March. In the 100 million yuan investment and financing event, the main business of the three companies is related to cross-border going overseas.

Source: Qichacha, Tianyancha, Oriental Fortune Choice data and other public information, Blue Shark consumption collation and mapping

Geographically, in terms of cities, Shenzhen, Hangzhou, Chengdu and Guangzhou have the largest number of investment and financing. Financing was provided to 6, 5, 4 and 3 consumer enterprises respectively. It is worth noting that the number of investment and financing events in Shanghai fell from 7 last month to 1 this month, the number of investment and financing projects in Beijing also decreased from 4 last month to 2 this month, and Chengdu had 4 investment and financing incidents, ranking among the top four.

In terms of provincial-level administrative units, Guangdong, Zhejiang, Sichuan, Anhui and Jiangsu, these four provinces have the largest number of investment and financing, with a total of 27 investment and financing events, accounting for 64.3%. In terms of cities, the Yangtze River Delta region, including Jiangsu, Zhejiang, Shanghai and Anhui, has the largest number of investment and financing, with 14 cases, accounting for 1/3, followed by the Pearl River Delta region with 10 cases, the Sichuan-Chongqing region with 5 cases, and the Beijing-Tianjin-Hebei region with only 2 cases. In terms of fundraising, there were 2 fundraising events related to new consumption this month.

Figure 1: Partner information of Bloomage Yuanyou Venture Capital Fund

First, the "Bloomage Yuanyou Venture Capital Fund" was established to raise 1 billion yuan. According to the enterprise investigation, on April 19, the "Bloomage Yuanyou Venture Capital Fund (Hainan) Partnership (Limited Partnership)" was established in Haikou. Partners include Bloomage Biotech, Langzi Asiana, Hainan Free Trade Port Construction Investment Fund, etc. It is reported that the fund will carry out industrial incubation for start-ups in the field of medical and health consumer goods, focusing on bioactive materials, medical beauty and other consumer medical innovative drugs and devices, functional health consumer goods, etc.

The second is that Cangyuan Capital set up the first "wearing" industry fund in China. The first phase of fundraising is nearly 300 million, focusing on clothing, shoes and bags and other categories in the mode of industrial venture capital.

Overview of investment and financing in the main subdivisions 1. Food and beverage: 6 companies received financing, and Cestbon sprinted to the Hong Kong Stock Exchange

Table 7: Food and beverage projects that received investment and financing in April 2024

Source: Qichacha, Tianyancha, Oriental Fortune Choice data and other public information, Blue Shark consumption collation and mapping

Primary market. The prefabricated vegetable track continues to be hot, and the prefabricated vegetable enterprise "Xiaomai Group" has been financed, and at the same time, the "China Sichuan Cuisine International Food Valley" jointly invested and built by Xiaomai Group and Sichuan Rural Development Group has also officially started construction on April 8. In addition, it is reported that the liquor producer "Zhongjiu Xinghe" has raised nearly 100 million yuan in the pre-A round of financing.

IPO. On April 18, following the withdrawal of application materials from the Shanghai Stock Exchange last month, "Cherry Valley", a seller of duckling breeding and by-products, submitted information to the New Third Board and planned to be listed on the New Third Board. On April 22, "China Resources Beverage", the parent company of the packaged drinking water brand "Cestbon", submitted to the Hong Kong Stock Exchange, selling 39.5 billion yuan of water a year.

2. Catering track: Tea Baidao landed on the Hong Kong Stock Exchange, and Haidilao overseas companies went to the United States for dual listing

Table 8: F&B projects that received investment and financing in April 2024

Source: Qichacha, Tianyancha, Oriental Fortune Choice data and other public information, Blue Shark consumption collation and mapping

According to incomplete statistics from Blue Shark consumption, 6 catering companies have been financed this month. Among them, the hand-made milk tea brand "Deng's Grandma Handmade", the tea brand "Sigh Tea Guanse", and the chain coffee brand "Thai-Indian Catering" have successively received tens of millions of investment and financing.

IPO. On April 23, Tea Baidao was listed on the main board of the Hong Kong Stock Exchange, becoming the second listed ready-made tea company after "Nai Xue's Tea", and in terms of retail sales in 2023, Tea Baidao ranked third in the domestic freshly made tea track. At the same time, on April 26, Eastern time, "Tehai International", which does Haidilao international business, submitted F-1 documents to the U.S. Securities and Exchange Commission (SEC) 16 months after its listing on the Hong Kong Stock Exchange, planning to list on the NASDAQ under the stock symbol "HDL".

3. Cross-border going to sea: 6 companies received financing, and Aoji Technology submitted to the Hong Kong Stock Exchange

Table 9: Cross-border overseas projects in the consumer sector that received financing in April 2024

Source: Qichacha, Tianyancha, Oriental Fortune Choice data and other public information, Blue Shark consumption collation and mapping

In April, in the field of cross-border consumption going overseas, 6 companies received financing. If the public information is correct, the cross-border e-commerce platform "Youpinmei", the cross-border e-commerce integrated service provider "Fanding International", and the small household appliances going overseas and the OEM enterprise "Douhe Technology" have successively obtained 100 million yuan in financing.

IPO. On April 15, the cross-border seller of home furnishing products "Aoji Technology" submitted to the Hong Kong Stock Exchange, which is also the fourth time that Aoji Technology has hit the capital market.

4. Service providers: 6 investment and financing events, and Hangzhou Yike plans to be listed on the New Third Board

Table 10: Service providers that received financing in the consumer track in April 2024

Source: Qichacha, Tianyancha, Oriental Fortune Choice data and other public information, Blue Shark consumption collation and mapping

According to incomplete statistics from Blue Shark Consumption, in April 2024, 6 service providers in the upstream and downstream of the consumer industry chain will receive financing.

IPO. On April 15, "Hangzhou Yike", a mobile digital solution service provider in the garment industry, plans to be listed on the New Third Board.

5. Clothing, shoes and hats: Keep invests in domestic yoga wear, and Mengjinyuan gold jewelry is submitted to the Hong Kong Stock Exchange

Table 11: Apparel, footwear and hat-related companies that received financing in April 2024

Source: Qichacha, Tianyancha, Oriental Fortune Choice data and other public information, Blue Shark consumption collation and mapping

According to incomplete statistics of Blue Shark consumption, in April, 5 clothing, shoes and hat-related enterprises were financed. Jewelry seller "Tanoou Jewelry" and sports shoes and clothing brand "Peak China" have received financing. Among them, Keep invested in the domestic yoga wear brand "tan theta", which was founded by former Keep executives.

IPO. The original brand manufacturer of gold jewelry "Mengjinyuan Gold Jewelry" submitted its form to be listed on the main board of the Hong Kong Stock Exchange.

6. Beauty and personal care: Mao Geping transferred to the Hong Kong Stock Exchange, and Oclean received 100 million yuan in financing

Table 12: Beauty & Personal Care Projects Funded in April 2024

Source: Qichacha, Tianyancha, Oriental Fortune Choice data and other public information, Blue Shark consumption collation and mapping

According to incomplete statistics from Blue Shark consumption, in April, 4 companies in the beauty and personal care track received financing. Among them, the digital oral health brand R & D "Oclean Okelin" has obtained 100 million yuan in financing, and the investor is the Industrial Fund of Yangzhou Hangji High-tech Zone.

IPO. The high-end beauty brand "Mao Geping", after the three-stroke A-share folding, chose to switch to the Hong Kong Stock Exchange, and submitted a prospectus to the Hong Kong Stock Exchange on April 8.

7. Home furnishing department stores: The high-end home textile brand "SIDANDA" received nearly 100 million yuan in Series A financing

Table 13: Home furnishing department store projects financed in April 2024

In April, three home department store brands received financing. Among them, it is particularly noteworthy that the high-end home textile brand "SIDANDA" has completed a round of financing of nearly 100 million yuan, led by Challenger Venture Capital and followed by Zhonghui Capital.

8. Others: Jiandan Movement and Paipai Pet have successively obtained the blessing of capital

Table 14: Companies that received financing in other segments of the consumer sector in March 2024

Source: Qichacha, Tianyancha, Oriental Fortune Choice data and other public information, Blue Shark consumption collation and mapping

In addition to the aforementioned 7 segments, in April, 5 companies in the consumer track received financing. The smart fitness service platform "Jiandan Sports", the technology trendy toy brand "HISINGY", the smart lock R&D manufacturer "YNSUR", and the pet service provider "Paipai Pet" have successively received capital support.

Second, the supervision of A-share IPOs has been upgraded again, and the "five measures" are conducive to listing in Hong Kong

Table 15: IPO-related events in the new consumer sector in April 2024

Source: Qichacha, Tianyancha, Oriental Fortune Choice data and other public information, Blue Shark consumption collation and mapping, ranking in no order, just for easy classification

Since 2024, the supervision of A-share IPOs has been upgraded again. On March 15, the China Securities Regulatory Commission (CSRC) issued four "two strong and two strict" policy documents, proposing systematic policy measures from various aspects such as issuance access, continuous supervision of listed companies, and supervision of intermediaries. On April 12, the State Council issued the new "National Nine Articles", which will strictly put the listing access in a prominent position.

Judging from the information published by various exchanges, in April, there was little progress in consumption-related IPOs on the Beijing Stock Exchange, Shanghai Stock Exchange, and Shenzhen Stock Exchange. Among them, the mid-to-high-end fitness equipment foundry "Lixuan Sports" withdrew its listing information, and the 3C consumer electronics product R&D, production and sales company "Greenlink Technology" was registered and took effect.

Figure 2: Tea Baidao is listed

At the same time, on 19 April, the China Securities Regulatory Commission (CSRC) announced five measures for capital market co-operation with Hong Kong to deepen co-operation between the capital markets of the two places. The first is to relax the scope of eligible products of equity ETFs under Stock Connect, the second is to include REITs in Stock Connect, the third is to support the inclusion of RMB stock trading counters in Hong Kong Stock Connect, the fourth is to enhance the mutual recognition of funds arrangement, and the fifth is to support the listing of leading enterprises in the Mainland industry in Hong Kong.

Under the dual role, many consumer companies choose to switch to the Hong Kong Stock Exchange. This month, five consumer companies submitted prospectuses to the Hong Kong Stock Exchange, including "Mengjinyuan Gold Jewelry", beauty brand "Mao Geping", home furniture cross-border seller "Aoji Technology", packaged drinking water giant "China Resources Beverage", smart home and various home appliances and other brands "Midea Group".

At the same time, on April 23, Chabaidao was officially listed on the Hong Kong Stock Exchange. This is also the largest IPO raised by Hong Kong stocks since 2024, but it broke on the first day of listing. Perhaps, at this stage, the capital market is not keen on milk tea.