01641 IPO | “Frozen Food Storage Service Provider” Red Star Cold Chain Share Initial Subscription Amount HK$6191.83

$ Red Star Cold Chain (01641.HK) $Announcing the announcement that in the IPO on December 31-January 8, the Company proposes to offer approximately 2.3263 million shares worldwide, which are expected to be listed on January 13, 2026 with a first subscription amount of HK$6191.83.

Red Star Cold Chain Company Profile

Red Star Cold Chain is a frozen food warehouse service and frozen food restaurant rental service provider headquartered in Changsha City, Hunan Province, mainly providing refrigerated food storage services. Since its inception in 2006, the company has developed a business model that directly links food freezers and frozen food store rentals, allowing the company to connect suppliers and retailers in the frozen food supply chain.

In the words of the company's frozen food warehouse storage services, the company provides frozen food warehouse storage and related warehouse management services to frozen food distributors and retailers (such as inventory separation, sorting and packaging, storage tray points and tracking, inventory records, and fire safety and environmental risk management, etc. Frozen Food Storage Service Fee. In terms of the company's frozen food store rental services, the company mainly leases frozen food distributors and retailers to develop its frozen food trading business. The company receives the rental fee for the door rental customers, including the monthly rental fee and the monthly rental price, which mainly determines the location of the equipment at the door.

Red Star Cold Chain Financial Profile

Our financial performance shows steady growth and stable profitability. For the six months ending 2020, 2023, 2024 and 30 June 2025, our revenue generated was RMB236.7 million, RMB201.8 million, RMB233.6 million, RMB112.3 million and RMB118 million, with a gross margin spread over the same period 1%, 57.7%, 52.8%, 54.2% and 53.3%. For the six months ending 2022, 2023, 2024 and 30 June 2025, our net profit distribution amounted to RMB79.1 million, RMB75.3 million, RMB82.9 million, RMB41.3 million and RMB39.7 million, respectively, with a net profit spread of 33.4%. 37.3%, 35.5%, 36.7% and 33.6%.

Red Star Cold Chain Funding Purposes

In terms of financing, Red Star Cold Chain expects net proceeds from global sales of HK$0.2523 billion (assuming no overallotment options are exercised at an offer price of HK$12.26 billion). According to the prospectus, Red Star Cold Chain intends to use the global IPO for the following purposes:

Approximately 57.5% or HK$145.1 million of the total proceeds will be used for the construction of a factory expansion and the construction of a refrigerated food storage warehouse in the next four years, equipping processing equipment and systems to provide frozen food processing services to customers. Approximately 12.8% or HK$32.2 million of the proceeds will be used to upgrade equipment, IT infrastructure and software used in our existing business, including investment in AI technology to serve our operations and customers. Approximately 19.7% or HK$49.7 million of the total proceeds will be used to seek strategic acquisitions and partnerships in the next four years to complete the consolidation of our industry from our location in a fully cold chain ecosystem. Approximately 10.0% or HK$25.2 million of the net proceeds will be used for operating funds and other general corporate uses.

Read more:Red Star Cold ChainProcurement book

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