Yuen Kee Food enters final stage of Hong Kong IPO after HKEX approval, sources say

Yuen Kee Food Group, the parent company of the popular restaurant chain Yuen Kee Dumpling, has received approval from the Hong Kong Exchanges and Clearing (HKEX) to proceed with its initial public offering (IPO). The IPO, which aims to raise between HK$300 million and HK$400 million, is entering its final stage, according to sources familiar with the matter.

The IPO is set to launch in October, with BA Capital, Huatai International, and GF Securities serving as joint sponsors. Yuen Kee completed three funding rounds prior to its IPO, bolstering its financial backing with the backing of China-focused investment firm BA Capital. As of late May, the company operated 4,773 outlets in over 250 mainland Chinese cities, primarily through franchise operations.

The group entered the Hong Kong market in 2018 and has since expanded into Singapore, Britain, and Thailand, with 41 overseas stores. Yuen Kee primarily generates revenue through its franchising model, which focuses on serving hand-wrapped and freshly cooked dumplings, wontons, and related products in both ready-to-eat and ready-to-cook formats.

The company experienced a significant increase in adjusted net profit, with 185 million yuan (US$27.6 million) in the first five months of 2026, compared to 69 million yuan (US$9.7 million) in the same period last year.