中式面馆第一股开盘大跌27%,超半数门店集中于广东,面临区域、品类及运营模式困境

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Dec 08, 2025

“中式面馆第一股”遇见小面12月5日登陆港交所,开盘即破发,收盘报5.08港元,较发行价暴跌27.84%,市值约36.1亿港元。此前其公开发售曾获超425倍认购,基石投资者包括海底捞等机构。招股书显示,公司近年虽营收快速增长,但隐忧已现:平均消费额从36元降至31.8元,翻座率有所波动,且超半数门店集中于广东,面临地域集中风险。分析指出,其面临区域、品类及运营模式“三重单一化”困境。遇见小面以...

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