XIAO NOODLES Launches on HKEX as First Chinese Noodle Stock

Guangzhou Xiao Noodles Catering Management Co., Ltd. made history on December 5, 2025, by becoming the first Chinese noodle restaurant stock listed on the Hong Kong Stock Exchange. The company, trading under the stock code 2408.HK, successfully attracted substantial interest from institutional investors during its global offering. Notable cornerstone investors included HHLR Advisors, Ltd., a member of the Hillhouse Group, and Hai Di Lao Holdings Pte. Ltd., among others.

According to research conducted by Frost & Sullivan, XIAO NOODLES has established itself as a leader in the market, ranking first in the Sichuan–Chongqing-style noodle segment and fourth overall among Chinese noodle restaurant operators by gross merchandise value (GMV) in 2024. The company has experienced impressive growth, with revenue soaring from RMB 418 million in 2022 to RMB 1.154 billion in 2024. This remarkable increase reflects a compound annual growth rate of 66.2%, significantly surpassing growth rates in the broader Chinese quick-service restaurant market.

In the first half of 2025, XIAO NOODLES continued its upward momentum, reporting revenue of RMB 703 million, a 33.8% increase compared to the previous year. Adjusted net profit also surged, rising by 131.56% to RMB 52.18 million, marking new historical highs for the company.

Founded in Guangzhou in 2014, XIAO NOODLES has rapidly expanded its presence, increasing its restaurant network from 133 locations in early 2022 to 465 stores across 22 cities in mainland China and Hong Kong. The company is on track to exceed 500 locations by the end of the year, with plans to open its first international restaurant in Singapore as part of its global expansion strategy.

Innovative Business Model Drives Expansion

XIAO NOODLES operates a scalable business model that combines self-operated and franchised restaurants. It employs a centralized, standardized, and digitalized system that encompasses various aspects of restaurant management, including recipe development, procurement, supply chain logistics, and customer service. The menu features authentic Sichuan–Chongqing flavors, such as the popular Red Bowl Noodles and Golden Bowl Noodles, with each location typically offering between 30 to 40 distinct items.

The company places a strong emphasis on updating its menu regularly to enhance customer experiences, ensuring each dining occasion is memorable. Additionally, it has developed a comprehensive restaurant operation system that integrates front-end and back-end processes, from order management to inventory control and talent development.

Moving forward, XIAO NOODLES intends to utilize the proceeds from its IPO to accelerate its multi-year expansion plan. The company aims to open between 520 to 610 new restaurants over the next three years and has already laid the groundwork for its international strategy. The launch of its first overseas location in Singapore, scheduled for December 2025, represents a significant milestone in promoting Chinese noodle culture globally.

Future Prospects and Market Vision

The listing on the Hong Kong Stock Exchange marks a pivotal moment in XIAO NOODLES’s evolution. The company’s vision, encapsulated in the motto “From the streets of China to tables across the globe,” reflects its ambition to strengthen digital operations, optimize supply chain efficiencies, and deliver high-quality Chinese cuisine to consumers worldwide.

As XIAO NOODLES continues to implement its growth strategy, it is well-positioned to become a major player in the international restaurant market, particularly in Southeast Asia, where it identifies a new growth engine. For more information about XIAO NOODLES and its offerings, visit their official website at https://www.xiaonoodles.com/en.