Mainland China's 'Green Tea Restaurant' parent company, the Green Tea Group, has applied for listing in Hong Kong. According to the application documents uploaded by the company to the Stock Exchange of Hong Kong, the joint sponsors are Citigroup and Zhong Yin International. The first Green Tea Restaurant was opened in Hangzhou West Lake in 2008. As of the 11th of this month, the restaurant network has a total of 382 branches. According to the Zhaoshang Consultancy report, the brand ranked third in terms of the number of restaurants and fourth in terms of revenue among Chinese leisure Chinese-style restaurant brands last year.

Last year, the company's equity shareholder profit was 296 million yuan, an increase of 16.9 times from the previous year; the revenue was 3.59 billion yuan, an increase of 51.1% from the previous year. The funds raised will be used to expand the restaurant network, establish central ingredient processing facilities, upgrade information technology systems and related infrastructure, allocate operating funds, and other general corporate purposes.

The Green Tea Group has submitted IPO applications to the Hong Kong Stock Exchange three times in March 2021, October 2021 and April 2022, but the applications later expired. The company is preparing to open a store in Hong Kong in August, location in Causeway Bay Hysan Place.