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窃窃私语赵青老陈|揭秘榴莲草莓香蕉秋葵的抗氧化能力
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窃窃私语赵青老陈|揭秘榴莲草莓香蕉秋葵的抗氧化能力

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专题:沪上阿姨赴港IPO:加入港股“茶饮第二股”争夺战

  来源:瑞恩资本RyanbenCapital

  2025年4月23日,来自上海的沪上阿姨(上海)实业股份有限公司AunteaJenny(Shanghai)IndustrialCo.,Ltd.(简称"沪上阿姨”)在港交所披露聆讯后的招股书,或很快在香港IPO上市。其于2024年2月14日、2024年12月27日先后两次递表。

  沪上阿姨聆讯后招股书链接:

  https://www1.hkexnews.hk/app/sehk/2024/107027/documents/sehk25042302495_c.pdf

  主要业务

  沪上阿姨,作为一家具领导地位且快速增长现制饮品公司,根据灼识咨询,截至2023年12月31日,沪上阿姨经营者中国第四大现制茶饮店网络,于下沉市场拥有庞大网络,并且是覆盖最多中国城市的中国中价现制茶饮店品牌。截至2024年12月31日,沪上阿姨约50.4%的门店位于中国三线及以下城市。

  沪上阿姨于2013年在上海开设了第一家沪上阿姨门店售卖「五谷奶茶」,于2019年开始提供鲜果茶,陆续通过推出沪咖及轻享版扩大产品范围。公司现时三个品牌概念包括沪上阿姨、沪咖、轻享版。

  截至2024年12月31日,沪上阿姨全系统门店数目达9176间(其中9152间加盟店),覆盖4个直辖市、5个自治区、22个省份的300多个城市,北至漠河南至三亚。于2024年上半年GMV达人民币51.29亿元。

  根据灼识咨询,截至2023年12月31日,按门店总数计,沪上阿姨于中国北方中价现制茶饮店品牌中排名第一、于中国中价现制茶饮店品牌中排名第三。于2023年按GMV计,沪上阿姨于中国中价现制茶饮店市场排名第四,市场份额8.9%。

  沪上阿姨的绝大部分收入来自加盟商相关收入,包括向加盟商销售货物(食材、包装及其他原材料及设备)、加盟服务费用(经营、培训、营销及其他各类支持),此外来自自营店的收入,即直接向消费者出售产品。其他少量收入来自若干电商平台和部分城市推出的付费会员福利卡收费。

  股东架构

  招股书显示,沪上阿姨在上市前的股东架构中,

  单卫均先生、周蓉蓉女士夫妇为一致行动人士,合计控制约80.64%的投票权。

  管理层

  沪上阿姨董事会由7名董事组成,包括:

4名执行董事:单卫均先生(联合创始人、董事会主席、行政总裁)、周蓉蓉女士(联合创始人、副行政总裁、首席产品官)、周天牧先生(副行政总裁)、汪加兴先生(线上营运高级总监);

3名独立非执行董事:韩定国先生(贝拉吉奥餐饮有限公司非执行董事)、钟创新先生(汇路有限公司董事)、郁昉瑾女士(曾任职于富而德、高伟绅、天元、普衡、未来金融等)。

  监事会3名:顾亮先生、许娜女士、陈芳芳女士。

  除执行董事外,高管包括财务总监李勋增先生,董事会秘书及联席公司秘书王娟女士。

  公司业绩

  招股书显示,在过去的2022年、2023年和2024年,沪上阿姨的营业收入分别为人民币21.99亿、33.48亿和32.85亿元,相应的净利润分别为人民币1.49亿、3.88亿和3.29亿元。

  中介团队

  沪上阿姨是次IPO的中介团队主要有:

  中信证券、海通国际、东方证券

  为其联席保荐人;

  安永为其审计师;

  中伦为其公司中国律师;

  高伟绅为其公司香港及美国律师;

  君合为其券商中国律师;

  富而德为其券商香港及美国律师;

  海通国际为其合规顾问;

  灼识咨询为其行业顾问。

  来源:保险人事

  在2024年实现扭亏为盈的建信人寿近期迎来管理层调整。

  保险人事获悉,建行福建省分行营业部总经理桂治国拟任建信人寿副总裁。

  桂治国,1978年6月出生,是建行老将,历任建行总行公司业务部重大项目处处长、协调发展处处长、制造业经营处处长,2023年5月起任建行福建自贸试验区福州片区分行副行长。

  建信人寿成立于1998年,是国务院批准的首批银行控股的保险公司之一。建信人寿的前身为太平洋安泰人寿,2011年,中国建设银行通过股权收购,成为太平洋安泰人寿的控股股东,随后将其改名为建信人寿。

  2025年2月,建信人寿发布了2024年第4季度偿付能力报告。报告显示,2024年建信人寿实现保险业务收入409.96亿元,净利润2.20亿元。截至报告期末,公司总资产312.5亿元,净资产42.43亿元,净资产收益率2.32%。

  截至2024年末,建信人寿的综合偿付能力充足率为234%,核心偿付能力充足率为131%,较2024年三季度末相比分别上升44个百分点和25个百分点。

  受新会计准则实施、权益市场回暖以及“报行合一”政策等因素影响,银行系寿险公司的业绩有不同程度变化。部分公司因实施新会计准则,业绩大幅增长或成功扭亏为盈,但也有公司因净利润下滑、业务收入下降等面临经营压力。

  2024年银行系寿险公司业绩呈现分化态势,8家盈利,2家亏损,整体盈利情况较2023年有所改善。

  净利润方面,中邮人寿净利润最高,达91.88亿元;交银人寿以9.97亿元位居第二;工银安盛人寿净利润为9.31亿元,排名第三。此外,农银人寿、招商信诺、中银三星、建信人寿、中荷人寿分别实现净利润8.86亿元、5.36亿元、4.9亿元、2.21亿元、1.85亿元。

  光大永明人寿净亏损17.27亿元,中信保诚人寿净亏损17.65亿元。

  投资收益方面,10家银行系险企的累计综合投资收益率均上涨,中邮保险、交银人寿、中荷人寿的综合投资收益率均超10%,其中中荷人寿的综合投资收益率达14.42%。

  2024年建信人寿通过合理的资产配置和有效的经营管理,在市场环境的有利因素下,实现了综合投资收益率的显著提升,达到8.09%。不过,未来仍需面对市场波动等风险,持续优化投资策略和风险管理,以保持良好的投资收益水平。

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