Mingming Henmang
鸣鸣很忙
Mingming Henmang (鸣鸣很忙) is China's largest casual food and beverage chain retailer, operating the snack-store brands Lingshi Henmang (零食很忙) and Zhao Yiming Lingshi (赵一鸣零食). The company was formed through the 2024 merger of these two brands, and by June that year it had become the first in China's snack-chain industry to surpass 10,000 stores nationwide . It listed on the Hong Kong Stock Exchange in January 2026, raising HK$3.67 billion at HK$236.60 per share .
Gaorong Ventures co-led the company's first funding round in 2021, when it had just 450 stores and was beginning national expansion, and continued to follow on in subsequent rounds . 5Y Capital led the A++ round in 2023 , and Black Ant Capital also invested . In 2024 the company brought on Jay Chou as brand ambassador and reported retail revenue exceeding RMB 55.5 billion; it filed for its Hong Kong IPO in April 2025 and received CSRC approval that December .
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Coverage
New Forces Keep Coming｜5Y News Monthly
The big news from last month.
5Y Capital Investor Notes: Why Mingming Busy? The Truth Behind What's Misread as "Consumption Downgrade" | 5Y View
How does 5Y Capital identify "readaptation" signals in offline retail amid a challenging market environment?
5Y News｜Congratulations to Mingming Busy on its successful listing on the Hong Kong Stock Exchange!
Serving hundreds of millions of families with "value for quality."
Warm congratulations to Mingming Henmang on its successful IPO on the Hong Kong Stock Exchange, with Gaorong Ventures co-leading the first round.
China's largest chain retailer of leisure food and beverages.
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