Feb 25, 2022 06:49 PM

BUSINESS

Chinese Hotpot Chain Files for Hong Kong IPO

By Shen Xinyue, Manyun Zou, and Flynn Murphy

Customers taste hot pot at a Yangguofu branch in Shanghai in September 2020. Photo: VCG

Customers taste hot pot at a Yangguofu branch in Shanghai in September 2020. Photo: VCG

China’s largest spicy hotpot restaurant chain has filed for a Hong Kong IPO, as it seeks to follow other catering firms like Haidilao and Laowang in tapping stock market capital.

Yang Guofu opened his first eponymous store with his wife in chilly Northeast China’s Harbin city in 2003, according to an official company biography of the chain. The business experienced explosive growth from 2007 when the couple started dabbling in franchising.

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