Adjusted net profit doubles, same-store operations remain steady. Meeting Xiaomian, whose explosive performance demonstrates its long-term growth value.

In 2025, the catering industry showed a marked pattern of divergence amid the ongoing recovery of consumer demand. Industry competition continued to intensify, cost pressures remained high, and most small and mid-sized catering brands faced the dilemma of weak expansion momentum and squeezed profitability.

Against this backdrop, Meet Xiao Mian (2408.HK), as the “No. 1 Chinese noodle restaurant stock,” leveraged a standardized operations system, a layout across diverse scenarios, and an efficient supply chain to break through against the trend during industry shakeouts. It delivered a doubling of adjusted net profit, successfully surpassed 500 stores in total, maintained steady same-store operations, and demonstrated strong resilience to risks and sustainable development potential—becoming a benchmark company in the Chinese fast-casual segment.

Specifically, in 2025, Meet Xiao Mian achieved revenue of RMB 1,622.4 million, representing a year-on-year increase of 40.5%; it achieved adjusted net profit of RMB 135.4 million, representing a year-on-year increase of 111.9%, successfully realizing a doubling of growth. Its profitability improved meaningfully versus the prior year, with standout performance in key financial indicators, fully reflecting the company’s high growth potential and also validating the feasibility and superiority of its business model.

Same-store operations and store expansion empower earnings growth; scale benefits continue to be released

Meet Xiao Mian’s business performance delivered a significant surge against the trend, mainly thanks to the company’s continued efforts in recent years to improve same-store restaurant operating efficiency and expand its store network. Data shows that in 2025, Meet Xiao Mian’s company-operated restaurant same-store sales reached RMB 745.612 million, representing a year-on-year increase of 1.0%. Same-store average daily orders per store rose from 391 in 2024 to 427 in 2025. In the same period, same-store average spending per customer was RMB 29.4, which indirectly reflects that the company-operated restaurant segment’s same-store business has long-term growth potential.

At the same time, the company opened 156 new restaurants, including 134 company-operated restaurants and 22 franchised restaurants. The pace of new store openings was further accelerated compared with the prior year, and the national deployment network continued to improve. As of end-2025, the total number of Meet Xiao Mian restaurants was 503, including 395 company-operated restaurants and 92 franchised restaurants across 24 cities in mainland China; 15 restaurants in the Hong Kong Special Administrative Region; and 1 restaurant in Singapore. This formed a deployment pattern of “deepening focus in domestic regions + steady initial foray overseas,” further enhancing the company’s brand visibility and market penetration.

The steady progress in same-store operations and the continued expansion in the number of restaurants not only provided strong support for the company’s earnings growth, broadened the scope of the company’s brand reach, and strengthened brand recognition for “Meet Xiao Mian”; it also helped drive the company’s revenue and profit to grow over the long term, thereby continuously consolidating the company’s leading position in the Chinese noodle restaurant segment.

Earnings benefits give back shareholders; the future offers substantial growth room

Benefiting from the sustained surge in performance and steady improvement in profitability, Meet Xiao Mian actively gives back to shareholders through concrete actions.

On October 27, 2025, Meet Xiao Mian, through a board resolution and a shareholders’ resolution, based on the company’s retained earnings as of June 30, 2025, declared a dividend of RMB 34,365,000 to the existing shareholders whose names appear on the company’s register of members on October 27, 2025; meanwhile, the board has recommended a final dividend on ordinary shares for 2025 of HK$ 0.03 per H share.

This move is not only a return for shareholders’ long-term support, but also reflects the company’s firm confidence in its future development. It further strengthens investors’ recognition and trust in the brand and lays a solid foundation for the company’s subsequent capital operations and ongoing development.

Judging from industry development trends, driven by a series of domestic economic-stabilizing and growth-promoting policies and sustained efforts, especially the formal implementation of the “Administrative Measures for Promoting and Operating the Catering Industry” jointly released by the Ministry of Commerce and the National Development and Reform Commission of China in May 2025, the catering industry is guided toward high-quality development. It encourages mass-market dining, digital upgrades, and standardized development, injecting strong momentum into the development of the Chinese fast-casual industry. The Chinese fast-casual segment, with frequent, rigid demand, still has broad room for development.

Against this backdrop, Meet Xiao Mian will closely seize market opportunities, build on its brand advantages as the “No. 1 Chinese noodle restaurant stock,” and firmly and steadfastly expand its restaurant network, deepen penetration in lower-tier markets. At the same time, it will further deepen product innovation and digital upgrades to improve operating efficiency and customer loyalty. In addition, the company will also steadily advance overseas market expansion, enhance capabilities for cross-regional and international operations, and strive to gain the upper hand in fierce market competition, continuously consolidate and improve its leading position in the Chinese noodle restaurant segment. The company’s future offers substantial growth potential and investment value.

Contact: Hong Kong Economic Times Advertising Department Listed Companies Group │ annteam@hket.com