Chinese snack manufacturer Weilong Food is planning to go public on the Hong Kong stock exchange next year. The company aims to raise $1 billion ahead of its listing.
In 2019, Weilong’s sales revenue exceeded 4.9 billion RMB, a 43% increase year-on-year.
Weilong is most famous for its latiao 辣条, a spicy chewy snack, which has a huge market in China and is especially popular among Chinese young people. There are many trending sentences about latiao on Chinese social media sites like Weibo:
“Taste one Latiao and you will calm down”
“I have a Latiao who would like to be my friend”
“There is nothing that can’t be solved by a pack of Latiao, if not, try the second pack.”
Read more about China’s food & beverage industry:
- Oreo works with famous singer Jay Chou for Super Brand Day
- Haidilao’s unique customer service makes hotpot world famous
- Tencent works with Tim Hortons to open esports cafe in Shanghai
