The trademark issue of Green Tea Restaurant's plan to go public in Hong Kong needs to be solved urgently
News from our newspaper (Reporter Liu Shenliang) Recently, Green Tea Restaurant submitted a prospectus to the Hong Kong Stock Exchange to prepare for listing in Hong Kong.
This is also another catering company that is going to the capital market after Haidilao and Jiu Maojiu.
The prospectus shows that the revenue of Green Tea Restaurant in 2018, 2019 and 2020 will be 1.311 billion yuan, 1.736 billion yuan, and 1.569 billion yuan respectively; the profits for the year will be 44.4 million yuan, 106 million yuan and 55.26 million yuan respectively.
As a typical representative of domestic mass catering, Green Tea Restaurant has captured a group of young consumer groups with appropriate prices and innovative ingredients.
The first green tea restaurant was opened next to the West Lake in 2008 and then embarked on the road of expansion.
As of the end of 2018, its total number of restaurants in operation was 107, which has now increased to 185.
According to the prospectus, Green Tea Restaurant plans to open about 60 new restaurants in 2021, and plans to open 80-100 new restaurants each year in 2022 and 2023.
According to public information, as many restaurant brands enter the market, the casual Chinese catering market is also highly fragmented.
In 2020, the five major brands will account for approximately 3.8% of the total revenue of the casual Chinese catering market.
With a total revenue of 1.6 billion yuan, the green tea brand restaurant occupies a 0.5% market share in the casual Chinese catering market in China, ranking fourth.
Store expansion is an important factor for green tea restaurants to gain market share. The unit price of the restaurant has increased simultaneously with the size of the store. As of the end of 2020, the unit price has increased from 54.8 yuan in 2018 to 61.3 yuan.
However, the turnover rate has declined for three consecutive years, from 3.48 times/day in 2018 to 2.62 times/day in 2020.
It is worth mentioning that "green tea" is currently not unique to green tea restaurants.
In September 2020, Hangzhou Green Tea Catering Management Co., Ltd. held a press conference and announced that it would file a lawsuit against more than 30 "cottage" green tea restaurants and restaurant venue providers across the country.
It is reported that in addition to the decoration style, menu style, and staff clothing of the "shanzhai" green tea restaurant, the "shanzhai" restaurant in some regions also borrowed the name of Hangzhou green tea to join in the investment promotion and charge a high initial fee.
The reason why the Shanzhai restaurant has opportunities to take advantage of is mainly because the trademark application of Green Tea Restaurant has failed many times.
According to market analysis, although the prospectus was submitted to the Hong Kong Stock Exchange, the trademark issue is still an urgent issue for green tea restaurants.