Pagoda submitted a listing application to the Hong Kong Stock Exchange

On May 2, Pagoda submitted an IPO application to the Hong Kong Stock Exchange, with Morgan Stanley as the sole sponsor.

According to the prospectus, Pagoda ranks first among all retail companies selling fruit in China. In terms of fruit retail sales, Pagoda also ranks first among all fruit franchise retailers in China, 2.8 times larger than the second. Pagoda's revenue in 2021 will be 10.29 billion yuan, an increase of 16.2% compared to 2020's revenue of 8.85 billion yuan. The gross profit in 2021 will be 1.16 billion yuan, an increase of 43.2% compared with the gross profit of 810 million yuan in 2020.

The latest data shows that Pagoda has a total of 5,351 offline stores in more than 130 cities in 22 provinces and municipalities across the country, of which 5,336 are franchise stores. The total number of members accumulated by various sales channels exceeds 67 million, and the average monthly active members in 2021 will exceed 7 million.

Pagoda established in 2001 in Shenzhen, is a large-scale chain enterprise integrating fruit procurement, planting support, post-harvest preservation, logistics storage, standard classification, marketing development, brand operation, store retail, information technology, financial capital, and scientific research and education. (*data as of December 2019)