1. The China Securities Regulatory Commission has publicly solicited opinions on the draft of major system rules for the full implementation of the stock issuance registration system, which means that China's capital market has officially entered the era of a comprehensive registration system. However, the detailed rules of the IPO traffic light industry review standards show that catering companies will face stricter approval standards and procedures for listing in the future.
2. The competition in the catering industry has become more fierce, and many companies are seeking to solve their cash flow problems through listing and financing. However, only a few catering companies have successfully gone public, and even fewer are currently sprinting for listing due to tightened regulations.
3. The difficulty for catering companies to go public is not because China's capital market cannot tolerate fireworks, but rather due to compliance issues and food safety concerns that need to be optimized. Standardization also needs to be improved in order to attract investment and achieve sustainable growth. Michelle Ice City's potential A-share listing could be a great encouragement or a big blow to the industry depending on its success or failure in breaking through regulatory barriers.