Capital, Earnings & M&A
Selling 490 Tons of Spicy Strips Daily: How Profitable Is Weilong?
Foodies have spawned another listed company: Weilong, the internet-famous spicy strip maker, is preparing for an IPO. In 2020, Weilong sold 179,500 tons of spicy strips, generating revenue of 4.1 billion yuan. Riding the wave of new consumption, Weilong attracted Tencent, Yunfeng Capital, and Hillhouse Capital before its listing, securing $549 million in funding and a valuation of 60 billion yuan. Is spicy strips a good business?
秦海清 刘霞