Fruit retailer files for IPO in HK

China's largest fruit retailer Shenzhen Pagoda Industrial has filed yesterday for an initial public offering in Hong Kong.

Founded in 2001, the Shenzhen-based firm mainly sells fruits as well as fruit-based products such as dried fruits and juice.

It was ranked first among all retailers that sell fruits in China in terms of fruit retail sales value in 2021, the firm said in a filing, citing data from Frost & Sullivan.

It had a total of 5,351 stores located in over 130 cities across China, among which 5,336 were franchised stores and 15 were self-operated stores, according to the filing.

The company reported a net profit of 234.8 million yuan (HK$278.73 million) last year, an increase of 3.79 times while revenue for the same period rose 16 percent to 10.29 billion yuan.

This came as Bilibili (9626) said yesterday it received the acknowledgment from the city's stock exchange and will be dual primary listed in Hong Kong and the US from October 3 this year. The video streaming giant also lowered the forecast of its first-quarter revenue given the macro-economic disruption caused by the Covid resurgence nationwide in China.