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1
Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited (the “Stock Exchange ”)
and Hong Kong Securities Clearing Company Limited ( “HKSCC ”) take no responsibility for the contents of this
announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability
whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this
announcement.
This announcement is not for release, publication, distribution, directly or indirectly, in or into the United States
(including its territories and possessions, any state of the United States and the District of Columbia) or any other
jurisdiction where such distribution is prohibited by law. This announcement does not constitute or form a part of any
offer to sell or solicitation of an offer to buy, to purchase or subscribe for securities nor shall there be any sale of Offer
Shares in the United States or in any other jurisdictions in which such offer or solicitation would be unlawful. The
securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933 as
amended from time to time (the “U.S. Securities Act ”) or any state securities law of the United States. The securities
may not be offered, sold, pledged, or transferred within the United States or to, or for the account or benefit of U.S.
persons (as defined in Regulation S under the U.S. Securities Act ( “Regulation S ”)) except pursuant to an exemption
from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and in compliance
with any applicable state securities laws. There will be no public offering of securities in the United States. The Offer
Shares are being offered and sold outside the United States in offshore transactions in reliance on Regulation S under
the U.S. Securities Act.
This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase
or subscribe for securities of the Company. This announcement is not a prospectus. Potential investors should read the
prospectus dated November 27, 2025 (the “Prospectus ”) issued by Guangzhou Xiao Noodles Catering Management
Co., Ltd. (ʮ̡ ) (the “Company ”) for detailed information about the Global Offering
described below before deciding whether or not to invest in the Offer Shares. Any investment decision in relation to
the Offer Shares should be taken solely in reliance on the information in the Prospectus.
Unless otherwise defined in this announcement, capitalized terms used herein shall have the same meanings as those
defined in the Prospectus.
Potential investors of the Offer Shares should note that the Sole Sponsor and the Sole Sponsor-Overall Coordinator (for
itself and on behalf of the Hong Kong Underwriters) shall be entitled to terminate their obligations under the Hong
Kong Underwriting Agreement with immediate effect upon the occurrence of any of the events set out in the paragraph
headed “Underwriting { Underwriting Arrangements and Expenses {  Hong Kong Public Offering {  Grounds for
Termination ” in the Prospectus at any time prior to 8:00 a.m. (Hong Kong time) on the Listing Date.
In connection with the Global Offering, CMB International Global Markets Limited, as stabilizing manager (the
“Stabilizing Manager ”), or any person acting for it, on behalf of the Underwriters, may effect transactions with a
view to stabilizing or supporting the market price of the H Shares at a level higher than that which might otherwise
prevail for a limited period after the Listing Date. However, there is no obligation on the Stabilizing Manager, or any
person acting for it, to conduct any such stabilizing action, which, if commenced, will be done at the sole and absolute
discretion of the Stabilizing Manager, or any person acting for it, and may be discontinued at any time. Any such
stabilizing action is required to be brought to an end on the 30th day after the last day for the lodging of applications
under the Hong Kong Public Offering, being Thursday, January 1, 2026. Such stabilization action, if taken, may be
effected in all jurisdictions where it is permissible to do so, in each case in compliance with all applicable laws, rules
and regulatory requirements, including the Securities and Futures (Price Stabilizing) Rules (Cap. 571W of the Laws of
Hong Kong), as amended, made under the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong).
Potential investors should be aware that stabilizing action cannot be taken to support the price of the H Shares for
longer than the stabilization period which begins on the Listing Date and is expected to expire on Thursday, January 1,
2026, being the 30th day after the last day for the lodging of applications under the Hong Kong Public Offering. After
this date, no further stabilizing action may be taken, demand for the H Shares, and therefore the price of the H Shares,
could fall.


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2
Guangzhou Xiao Noodles Catering Management Co., Ltd.
ʮ̡
(A joint stock company incorporated in the People ’s Republic of China with limited liability)
GLOBAL OFFERING
Number of Offer Shares under the
Global Offering
: 97,364,500 H Shares (subject to the Over-
allotment Option)
Number of Hong Kong Offer Shares : 9,736,500 H Shares
Number of International Offer Shares : 87,628,000 H Shares (subject to the Over-
allotment Option)
Final Offer Price : HK$7.04 per H Share, plus brokerage of
1.0%, SFC transaction levy of 0.0027%,
Stock Exchange trading fee of 0.00565%
and AFRC transaction levy of 0.00015%
(payable in full on application in Hong
Kong dollars and subject to refund)
Nominal value : RMB0.02 per H Share
Stock code : 2408
Sole Sponsor
Joint Overall Coordinators, Joint Global Coordinators,
Joint Bookrunners and Joint Lead Managers
Other Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers
Other Joint Bookrunners and Joint Lead Managers


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3
Guangzhou Xiao Noodles Catering Management Co., Ltd.
ʮ̡
ANNOUNCEMENT OF FINAL OFFER PRICE AND
ALLOTMENT RESULTS
Warning: In view of high concentration of shareholding in a small number of Shareholders,
Shareholders and prospective investors should be aware that the price of the H Shares
could move substantially even with a small number of H Shares traded and should exercise
extreme caution when dealing in the H Shares.
SUMMARY
Company information
Stock code 2408
Stock short name XIAO NOODLES
Dealings commencement date December 5, 2025 *
* see note at the end of the announcement
Price Information
Final Offer Price HK$7.04
Offer Shares and Share Capital
Number of Offer Shares 97,364,500
Number of Offer Shares in Hong Kong Public Offering 9,736,500
Number of Offer Shares in International Offering 87,628,000
Number of issued Shares upon Listing (before exercise of the
Over-allotment Option)
710,689,300
Over-allocation
No. of Offer Shares over-allocated 4,868,000
Such over-allocation may be covered by exercising the Over-allotment Option or by making
purchases in the secondary market at prices that do not exceed the Offer Price or through
deferred delivery or a combination of these means. In the event the Over-allotment Option is
exercised, an announcement will be made on the Stock Exchange ’s website.
Proceeds
Gross proceeds (Note) HK$685.4 million
  Less: Estimated listing expenses payable based on Final
Offer Price
HK$68.4 million
Net proceeds HK$617.0 million
Note: Gross proceeds refer to the amount which the Company is entitled to receive. For details of the use of
proceeds, please refer to the section headed “Future Plans and Use of Proceeds ” of the Prospectus.
The Company will adjust the allocation of the net proceeds from the exercise of the Over-
allotment Option (if any) for the purposes as set out in the section headed “Future Plans and Use
of Proceeds ” of the Prospectus on a pro rata basis.


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ALLOTMENT RESULTS DETAILS
HONG KONG PUBLIC OFFERING
No. of valid applications 61,057
No. of successful applications 9,590
Subscription level 425.97 times
Reallocation No
No. of Offer Shares initially available under the Hong Kong
Public Offering
9,736,500
No. of Offer Shares reallocated from the International Offering 0
Final no. of Offer Shares under the Hong Kong Public Offering
(after reallocation)
9,736,500
% of Offer Shares under the Hong Kong Public Offering to the
Global Offering
10.0%
Note: For details of the final allocation of H Shares to the Hong Kong Public Offering, investors can refer to
www.hkeipo.hk/IPOResult to perform a search by identification document number or www.hkeipo.hk/IPOResult for
the full list of allottees.
INTERNATIONAL OFFERING
No. of placees 108
Subscription Level 4.99 times
No. of Offer Shares initially available under the International
Offering
87,628,000
Final no. of Offer Shares under the International Offering 87,628,000
% of Offer Shares under the International Offering to the Global
Offering
90.0%
The Directors confirm that, to the best of their knowledge, information and belief, (i) none of the
Offer Shares subscribed by the placees and the public have been financed directly or indirectly
by the Company, any of the Directors, Supervisors, chief executive of the Company, substantial
Shareholders, existing Shareholders of the Company or any of its subsidiaries or their respective
close associates; and (ii) none of the placees and the public who have purchased the Offer Shares
are accustomed to taking instructions from the Company, any of the Directors, Supervisors, chief
executive of the Company, substantial Shareholders, existing Shareholders of the Company or any
of its subsidiaries or their respective close associates in relation to the acquisition, disposal, voting
or other disposition of H Shares registered in his/her/its name or otherwise held by him/her/it.


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5
The placees in the International Offering include the following:
Cornerstone Investors
Investor
No. of
Offer
Shares
allocated
% of total
issued
H Shares
after the
Global
Offering
(Note)
% of total
issued share
capital in the
Company
after the
Global
Offering
(Note)
Existing
shareholders
or their close
associates
HHLR Advisors, Ltd. 5,521,000 0.78% 0.78% No
Guotai Junan Investments (Hong Kong)
Limited (in connection with the Dream ’ee
OTC Swaps) 2,838,000 0.40% 0.40% No
Dream ’ee (Hong Kong) Open-ended Fund
Company 2,683,000 0.38% 0.38% No
Hong Kong Shengying Investment Limited 5,521,000 0.78% 0.78% No
Zeta Wisdom OFC 5,521,000 0.78% 0.78% No
Hai Di Lao Holdings Pte. Ltd. 2,208,500 0.31% 0.31% No
Total 24,292,500 3.42% 3.42%
Note: Assuming the Over-allotment Option is not exercised.


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6
Allotees with Consents Obtained
Investor
No. of
Offer
Shares
allocated
% of
total issued
H Shares
after the
Global
Offering
(Note 1)
% of total
issued share
capital in
the Company
after the
Global
Offering
(Note 1) Relationship
Allotees with consent under paragraph 1C(1) of the Placing Guidelines and Chapter 4.15 of
the Guide for New Listing Applicants in relation to allocations to connected clients (Note 2)
CMF Pusheng
 Global Allocation
 Fund (QDII)
 ( “Pusheng Fund ”)
2,200,000 0.31% 0.31% Connected
client
China Galaxy International
 Investment Company
 Limited ( “CGII”)
16,500,000 2.32% 2.32% Connected
client
Notes:

1. Assuming the Over-allotment Option is not exercised.
2. For details of the consent under paragraph 1C(1) of the Placing Guidelines and Chapter 4.15 of the Guide
for New Listing Applicants in relation to allocations to connected clients, please refer to the section headed
“Others/Additional Information – Placing to Connected Clients with a Consent under Paragraph 1C(1) of the
Placing Guidelines ” in this announcement.


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LOCK-UP UNDERTAKINGS
Controlling Shareholders
Name
Number of
H Shares
held in the
Company
subject to
lock-up
undertakings
upon Listing
% of total
issued H
Shares after
the Global
Offering
subject to
lock-up
undertakings
upon Listing
(Note 1)
% of total
issued share
capital in the
Company
subject to
lock-up
undertakings
upon Listing
(Note 1)
Last day subject
to the lock-up
undertakings
(Note 2)
Mr. Song (3)(4)(5) 326,795,850 45.98% 45.98% December 4, 2026
Mr. Su (3)(5) 300,800,000 42.33% 42.33% December 4, 2026
Huai’an Chuangtao (3)(5) 300,800,000 42.33% 42.33% December 4, 2026
Huai’an Yujian Haoren (4)(5) 25,995,850 3.66% 3.66% December 4, 2026
Total 326,795,850 45.98% 45.98%
Notes:
1. Assuming the Over-allotment Option is not exercised.
2. Under the applicable PRC Law, all existing Shareholders are subject to a lock-up period of twelve months
following the Listing Date. The lock-up requirement under the applicable PRC Law is longer than the lock-up
period required of Controlling Shareholders under Rule 10.07 of the Listing Rules.
3. As at the Latest Practicable Date, Huai ’an Chuangtao was a limited partnership established under PRC
Law. It was established by Mr. Song and Mr. Su in April 2016 as their shareholding platform. Mr. Song, as
the general partner, and Mr. Su, as the limited partner, held 66.67% and 33.33% of the partnership interest
therein, respectively. Accordingly, under Part XV of the SFO, Mr. Song and Mr. Su are deemed to be
interested in all the Shares held by Huai ’an Chuangtao upon the Listing.
4. As at the Latest Practicable Date, Mr. Song is the general partner of Huai ’an Yujian Haoren, our Company ’s
employee incentive platform. Accordingly, under Part XV of the SFO, Mr. Song is deemed to be interested in
all the Shares held by Huai ’an Yujian Haoren upon the Listing.
5. Mr. Song, Mr. Su, Huai ’an Chuangtao and Huai ’an Yujian Haoren will together form a group of Controlling
Shareholders upon the Listing.


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8
Other Existing Shareholders
Name
Number of
H Shares
held in the
Company
subject to
lock-up
undertakings
upon Listing
% of total
issued H
Shares after
the Global
Offering
subject to
lock-up
undertakings
upon Listing
(Note 1)
% of total
issued share
capital in the
Company
subject to
lock-up
undertakings
upon Listing
(Note 1)
Last day subject
to the lock-up
undertakings
(Note 2)
Wonderful Dawn 94,725,310 13.33% 13.33% December 4, 2026
Gu Dongsheng 48,499,373 6.82% 6.82% December 4, 2026
Pinxin Yuegu 39,894,000 5.61% 5.61% December 4, 2026
Huibi No. 2 31,185,600 4.39% 4.39% December 4, 2026
Huibi No. 1 24,362,800 3.43% 3.43% December 4, 2026
Qingcong Capital 20,000,000 2.81% 2.81% December 4, 2026
Gao Defu 18,442,950 2.60% 2.60% December 4, 2026
Wei Chuanfa 6,133,248 0.86% 0.86% December 4, 2026
Du Ming 3,285,669 0.46% 0.46% December 4, 2026
Total 286,528,950 40.32% 40.32%
Notes:
1. Assuming the Over-allotment Option is not exercised.
2. Under the applicable PRC Law, all existing Shareholders are subject to a lock-up period of twelve months
following the Listing Date.


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9
Cornerstone Investors
Name
Number of
H Shares
held in the
Company
subject to
lock-up
undertakings
upon Listing
% of total
issued H
Shares after
the Global
Offering
subject to
lock-up
undertakings
upon Listing
(Note 1)
% of total
issued share
capital in the
Company
subject to
lock-up
undertakings
upon Listing
(Note 1)
Last day subject
to the lock-up
undertakings
(Note 2)
HHLR Advisors, Ltd. 5,521,000 0.78% 0.78% June 4, 2026
Guotai Junan Investments
(Hong Kong) Limited
(in connection with the
Dream ’ee OTC Swaps)
2,838,000 0.40% 0.40% June 4, 2026
Dream ’ee (Hong Kong)
Open-ended Fund
Company
2,683,000 0.38% 0.38% June 4, 2026
Hong Kong Shengying
Investment Limited
5,521,000 0.78% 0.78% June 4, 2026
Zeta Wisdom OFC 5,521,000 0.78% 0.78% June 4, 2026
Hai Di Lao Holdings Pte.
Ltd.
2,208,500 0.31% 0.31% June 4, 2026
Total 24,292,500 3.42% 3.42%
Notes:
1. Assuming the Over-allotment Option is not exercised.
2. In accordance with the relevant cornerstone investment agreements, the required lock-up ends on June 4,
2026. The Cornerstone Investors will cease to be prohibited from disposing of or transferring H Shares
subscribed pursuant to the relevant cornerstone investment agreements after the indicated date.


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10
PLACEE CONCENTRATION ANALYSIS
Placees*
Number of H
Shares
allotted
Allotment
as % of
International
Offering
(assuming no
exercise of
the
Over-
allotment
Option)
Allotment
as % of
International
Offering
(assuming
the Over –
allotment
Option
is fully
exercised and
new H Shares
are issued)
Allotment as
% of total
Offer Shares
(assuming
no exercise
of the Over
– allotment
Option)
Allotment as
% of total
Offer Shares
(assuming the
Over –
allotment
Option
is fully
exercised and
new H Shares
are issued)
Number of H
Shares held
upon Listing
% of total
issued share
capital upon
Listing
(assuming no
exercise of
the
Over-
allotment
Option)
% of total
issued share
capital upon
Listing
(assuming the
Over-
allotment
Option
is fully
exercised and
new H Shares
are issued)
Top 1 16,500,000 18.8% 17.8% 16.9% 16.1% 16,500,000 2.3% 2.3%
Top 5 38,584,000 44.0% 41.7% 39.6% 37.7% 38,584,000 5.4% 5.4%
Top 10 55,592,500 63.4% 60.1% 57.1% 54.4% 55,592,500 7.8% 7.8%
Top 25 81,346,500 92.8% 87.9% 83.5% 79.6% 81,346,500 11.4% 11.4%
Note:
* Ranking of placees is based on the number of H Shares allotted to the placees.


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11
H SHAREHOLDER CONCENTRATION ANALYSIS
H
Shareholders*
Number of H
Shares
allotted
Allotment
as % of
International
Offering
(assuming
no exercise
of the Over-
allotment
Option)
Allotment
as % of
International
Offering
(assuming
the Over-
allotment
Option
is fully
exercised and
new H Shares
are issued)
Allotment as
% of total
Offer Shares
(assuming no
exercise of
the
Over-
allotment
Option)
Allotment as
% of total
Offer Shares
(assuming the
Over-
allotment
Option
is fully
exercised and
new H Shares
are issued)
Number of H
Shares held
upon Listing
% of total
issued share
capital upon
Listing
(assuming no
exercise of
the
Over-
allotment
Option)
% of total
issued share
capital upon
Listing
(assuming
the Over-
allotment
Option
is fully
exercised and
new H Shares
are issued)
Top 1 – – – – – 326,795,850 46.0% 45.7%
Top 5 – – – – – 565,462,933 79.6% 79.0%
Top 10 22,021,000 25.1% 23.8% 22.6% 21.5% 632,060,131 88.9% 88.3%
Top 25 68,792,500 78.5% 74.4% 70.7% 67.3% 682,117,300 96.0% 95.3%
Note:
* Ranking of H Shareholders is based on the number of H Shares held by the H Shareholders upon Listing.


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12
SHAREHOLDER CONCENTRATION ANALYSIS
Shareholders*
Number of H
Shares
allotted
Allotment
as % of
International
Offering
(assuming
no exercise
of the Over-
allotment
Option)
Allotment
as % of
International
Offering
(assuming
the Over-
allotment
Option
is fully
exercised and
new H Shares
are issued)
Allotment as
% of total
Offer Shares
(assuming no
exercise of
the
Over-
allotment
Option)
Allotment as
% of total
Offer Shares
(assuming the
Over-
allotment
Option
is fully
exercised and
new H Shares
are issued)
Number of H
Shares held
upon Listing
% of total
issued share
capital upon
Listing
(assuming no
exercise of
the
Over-
allotment
Option)
% of total
issued share
capital upon
Listing
(assuming
the Over-
allotment
Option
is fully
exercised and
new H Shares
are issued)
Top 1 – – – – – 326,795,850 46.0% 45.7%
Top 5 – – – – – 565,462,933 79.6% 79.0%
Top 10 22,021,000 25.1% 23.8% 22.6% 21.5% 632,060,131 88.9% 88.3%
Top 25 68,792,500 78.5% 74.4% 70.7% 67.3% 682,117,300 96.0% 95.3%
Note:
* Ranking of Shareholders is based on the number of H Shares held by the Shareholders upon Listing.


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13
BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
Subject to the satisfaction of the conditions set out in the Prospectus, valid applications made by
the public will be conditionally allocated on the basis set out below:
Pool A
Number
of H Shares
applied for
Number
of valid
applications Basis of allocation/ballot
Approximate
percentage
allotted of the
total number of H
Shares applied for
500 22,374 448 out of 22,374 applicants to receive 500 H Shares 2.00%
1,000 13,207 439 out of 13,207 applicants to receive 500 H Shares 1.66%
1,500 2,295 102 out of 2,295 applicants to receive 500 H Shares 1.48%
2,000 1,464 80 out of 1,464 applicants to receive 500 H Shares 1.37%
2,500 1,914 117 out of 1,914 applicants to receive 500 H Shares 1.22%
3,000 1,007 69 out of 1,007 applicants to receive 500 H Shares 1.14%
3,500 480 37 out of 480 applicants to receive 500 H Shares 1.10%
4,000 564 46 out of 564 applicants to receive 500 H Shares 1.02%
4,500 356 32 out of 356 applicants to receive 500 H Shares 1.00%
5,000 2,319 218 out of 2,319 applicants to receive 500 H Shares 0.94%
6,000 529 59 out of 529 applicants to receive 500 H Shares 0.93%
7,000 843 101 out of 843 applicants to receive 500 H Shares 0.86%
8,000 488 63 out of 488 applicants to receive 500 H Shares 0.81%
9,000 309 44 out of 309 applicants to receive 500 H Shares 0.79%
10,000 1,584 237 out of 1,584 applicants to receive 500 H Shares 0.75%
15,000 1,012 208 out of 1,012 applicants to receive 500 H Shares 0.69%
20,000 595 147 out of 595 applicants to receive 500 H Shares 0.62%
25,000 511 141 out of 511 applicants to receive 500 H Shares 0.55%
30,000 483 154 out of 483 applicants to receive 500 H Shares 0.53%
35,000 276 98 out of 276 applicants to receive 500 H Shares 0.51%
40,000 304 115 out of 304 applicants to receive 500 H Shares 0.47%
45,000 239 98 out of 239 applicants to receive 500 H Shares 0.46%
50,000 745 338 out of 745 applicants to receive 500 H Shares 0.45%
60,000 382 195 out of 382 applicants to receive 500 H Shares 0.43%
70,000 323 178 out of 323 applicants to receive 500 H Shares 0.39%
80,000 302 182 out of 302 applicants to receive 500 H Shares 0.38%
90,000 222 145 out of 222 applicants to receive 500 H Shares 0.36%
100,000 1,431 1,000 out of 1,431 applicants to receive 500 H Shares 0.35%
200,000 854 500 H Shares 0.25%
300,000 529 500 H Shares plus 247 out of 529 applicants to receive an
additional 500 H Shares
0.24%
400,000 367 500 H Shares plus 316 out of 367 applicants to receive an
additional 500 H Shares
0.23%
500,000 332 1,000 H Shares 0.20%
600,000 239 1,000 H Shares plus 80 out of 239 applicants to receive an
additional 500 H Shares
0.19%
700,000 430 1,000 H Shares plus 251 out of 430 applicants to receive an
additional 500 H Shares
0.18%
Total 59,309 Total number of Pool A successful applicants: 7,842


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14
Pool B
Number
of H Shares
applied for
Number
of valid
applications Basis of allocation/ballot
Approximate
percentage
allotted of the
total number of H
Shares applied for
800,000 748 2,000 H Shares 0.25%
900,000 111 2,000 H Shares plus 24 out of 111 applicants to receive an
additional 500 H Shares
0.23%
1,000,000 442 2,000 H Shares plus 177 out of 442 applicants to receive an
additional 500 H Shares
0.22%
2,000,000 173 3,500 H Shares 0.18%
3,000,000 89 4,500 H Shares 0.15%
4,000,000 43 5,500 H Shares 0.14%
4,868,000 142 6,500 H Shares 0.13%
Total 1,748 Total number of Pool B successful applicants: 1,748
As of the date of this announcement, the relevant subscription monies previously deposited in the
designated nominee accounts have been remitted back to the accounts of all HKSCC participants.
Investors should contact their relevant brokers for any inquiries.
COMPLIANCE WITH LISTING RULES AND GUIDANCE
The Directors confirm that, except for the Listing Rules that have been waived and/or in respect of
which consent has been obtained, the Company has complied with the Listing Rules and guidance
materials in relation to the placing, allotment and listing of the Company ’s H Shares.
The Directors confirm that, to the best of their knowledge, the consideration paid by the placees
or the public (as the case may be) directly or indirectly for each Offer Share subscribed for or
purchased by them was the same as the final Offer Price in addition to any brokerage, AFRC
transaction levy, SFC transaction levy and Stock Exchange trading fee payable.
OTHERS/ADDITIONAL INFORMATION
Placing to Connected Clients with a Consent under Paragraph 1C(1) of the Placing Guidelines
The Company has applied to the Stock Exchange for, and the Stock Exchange has granted,
consents under paragraph 1C(1) of the Placing Guidelines to permit connected clients, namely
Pusheng Fund and CGII, to subscribe for Offer Shares as placees in the International Offering on
the conditions set out below:
(a) any Offer Shares to be allocated to each of Pusheng Fund and CGII will be held on behalf of
independent third parties;


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15
(b) no preferential treatment has been, nor will be, given to each of Pusheng Fund and CGII by
virtue of its relationship with the relevant distributor, namely CMBI and CMS or CGIS (as
the case may be), in any allocation of Offer Shares in the International Offering;
(c) each of Pusheng Fund and CGII confirms that to the best of its knowledge and belief, it has
not received and will not receive preferential treatment in the allocation of Offer Shares in
the Global Offering by virtue of its relationship with CMBI and CMS or CGIS (as the case
may be);
(d) the Company, the Joint Overall Coordinators, each of CMBI, CMS and CGIS as connected
distributor and each of Pusheng Fund and CGII as connected client has provided the Stock
Exchange with written confirmations in accordance with Chapter 4.15 of the Guide; and
(e) details of the allocations will be disclosed in the allotment results announcement.
Details of the placement to the connected clients are set out below:
No. Connected Distributor
Connected
Client
Relationship with the
Connected Distributor
Basis of holding
securities
Number of
Offer Shares
subscribed
Percentage
to total Offer
Shares under
Global
Offering
Percentage
to total
issued Shares
immediately
upon the
completion of
Global
Offering
1. CMB International
 Capital Limited and
 other CMBI group
 entities (1) (“CMBI”)
 and China Merchants
 Securities (HK) Co.,
 Limited ( “CMS”)
Pusheng
 Fund (2)
China Merchants Fund
 Management Company
 ( “CM Fund ”), the
 discretionary fund
 manager managing
 the Pusheng Fund,
 is a member of the
 same group of
 companies as CMBI
 and CMS.
Discretionary 2,200,000 2.26% 0.31%
2. China Galaxy
 International Securities
 (Hong Kong) Co.,
 Limited ( “CGIS”)
CGII(3) CGII is a member of the
 same group as CGIS.
Non-discretionary 16,500,000 16.95% 2.32%
Notes:
(1) Other CMBI group entities as connected distributor includes CMB International Securities Limited and CMB
International Global Markets Limited.
(2) CM Fund is the discretionary fund manager managing the Pusheng Fund, which will hold the Offer Shares
on behalf of their investors. As confirmed by Pusheng Fund, all underlying investors of the Pusheng Fund are
independent third parties of the Company, its subsidiaries, its substantial shareholders, Pusheng Fund, CM Fund,
CMBI, CMS and the companies which are members of the same group of CMBI and CMS. No ultimate beneficial
owner holds 30% or more interest in the Pusheng Fund. China Merchants Bank Co., Ltd. and China Merchants
Securities Co., Ltd. are the ultimate beneficial owners holding 30% or more interest in CM Fund.


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16
(3) CGII and China Galaxy Securities ( “CGS”) will enter into a series of cross border total return swap (TRS)
transactions (collectively, the “CGII TRS ”) with each other and the ultimate clients ( “CGII Ultimate Clients ”),
pursuant to which CGII will hold the Offer Shares on a non-discretionary basis to hedge the CGII TRS while
the economic risks and returns of the underlying Offer Shares are ultimately borne by the CGII Ultimate
Clients, subject to customary fees and commissions. The CGII TRS will be fully funded by the CGII Ultimate
Clients. During the terms of the CGII TRS, all economic returns of the Offer Shares subscribed by CGII will
be passed to CGII Ultimate Clients and all economic loss shall be borne by CGII Ultimate Clients through the
CGII TRS, and CGII will not take part in any economic return or bear any economic loss in relation to the Offer
Shares. The CGII TRS are linked to the Offer Shares and CGII Ultimate Clients may, after expiration of the
lock-up period beginning from the date of the relevant cornerstone agreements and ending on the date which
is six months from the Listing Date, request to early terminate the CGII TRS at its own discretion, upon which
CGII may dispose of the Offer Shares on the secondary market and CGII Ultimate Clients will receive a final
settlement amount of the CGII TRS in cash in accordance with the terms and conditions of the CGII TRS.
To the best of CGII ’ s knowledge after having made all reasonable inquiries, each of the CGII Ultimate Clients
is an independent third party of (i) the Company, its subsidiaries, its substantial shareholders, and (ii) CGII, and
the companies which are members of the same group of CGIS.
Both CGII and CGIS are indirect wholly-owned subsidiaries of CGS, the A shares of which are listed on the
Shanghai Stock Exchange (stock code: 601881), the H shares of which are listed on the Stock Exchange (stock
code: 6881). CGII is a connected client (as defined under Appendix F1 to the Listing Rules) of CGIS, holding
securities on a non-discretionary basis on behalf of independent third parties.
CGII Ultimate Clients includes: Shenzhen Commando Capital Management Co., Ltd. ( ଉέ̹ੰਟᅃ༟͉၍ଣ
ʮ̡ ), a limited liability company established in the PRC, which is wholly-owned by Ding Ying ( ɕๅ).


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17
DISCLAIMERS
Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and
Hong Kong Securities Clearing Company Limited take no responsibility for the contents of this
announcement, make no representation as to its accuracy or completeness and expressly disclaim
any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or
any part of the contents of this announcement.
This announcement is not for release, publication, distribution, directly or indirectly, in or into
the United States (including its territories and possessions, any state of the United States and
the District of Columbia) or any other jurisdiction where such distribution is prohibited by law.
This announcement does not constitute or form a part of any offer to sell or solicitation of an
offer to buy, to purchase or subscribe for securities nor shall there be any sale of Offer Shares
in the United States or in any other jurisdictions in which such offer or solicitation would be
unlawful. The securities mentioned herein have not been, and will not be, registered under the
United States Securities Actor any state securities law of the United States. The securities may
not be offered, sold, pledged, or transferred within the United States or to, or for the account
or benefit of U.S. persons (as defined in Regulation S) except pursuant to an exemption from,
or in a transaction not subject to, the registration requirements of the U.S. Securities Act and in
compliance with any applicable state securities laws.
This announcement is for information purposes only and does not constitute an invitation or
offer to acquire, purchase or subscribe for securities of the Company. This announcement is not
a prospectus. Potential investors should read the Prospectus dated November 27, 2025 issued by
Guangzhou Xiao Noodles Catering Management Co., Ltd. (ʮ̡ )
for detailed information about the Global Offering described below before deciding whether or
not to invest in the H Shares thereby being offered.
* Potential investors of the Offer Shares should note that the Sole Sponsor and the Sole
Sponsor-Overall Coordinator (for itself and on behalf of the Hong Kong Underwriters) shall
be entitled to terminate their obligations under the Hong Kong Underwriting Agreement
with immediate effect upon the occurrence of any of the events set out in the section headed
“Underwriting – Underwriting Arrangements and Expenses – Hong Kong Public Offering –
Grounds for Termination ” in the Prospectus at any time prior to 8:00 a.m. (Hong Kong time) on
the Listing Date (which is currently expected to be on December 5, 2025).
PUBLIC FLOAT AND FREE FLOAT
Immediately upon the completion of the Conversion of Unlisted Shares into H Shares and the
Global Offering (before any exercise of the Over-allotment Option), the number of H Shares held
in public hands represents approximately 40.69% of the total issued Shares, which is higher than
the prescribed percentage of H Shares required to be held in public hands of 25% under Rule
19A.13A(1) of the Listing Rules.
The Directors confirm that, immediately upon the completion of the Conversion of Unlisted
Shares into H Shares and the Global Offering (before any exercise of the Over-allotment Option),
(i) no placee will, individually, be placed more than 10% of the enlarged issued share capital of
the Company immediately after the Global Offering; (ii) there will not be any new substantial
Shareholder immediately upon the Global Offering; (iii) the three largest public Shareholders of
the Company do not hold more than 50% of the H shares in public hands at the time of the Listing
in compliance with Rules 8.08(3) and 8.24 of the Listing Rules; and (iv) there will be at least 300
Shareholders at the time of the Listing in compliance with Rule 8.08(2) of the Listing Rules.


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18
Under the applicable PRC Law, all existing Shareholders (including the Pre-IPO Investors) are
subject to a lock-up period of twelve months following the Listing Date. Each of the Cornerstone
Investors has agreed to a lock-up period of six months following the Listing Date. As such, H
Shares held by all existing Shareholders and the Cornerstone Investors are not counted towards
the free float of the H Shares of the Company at the time of Listing. Based on the final Offer
Price of HK$7.04 per Offer Share and that 73,072,000 Offer Shares are allotted to investors who
are not core connected person of the Company and are not subject to any disposal restrictions,
the free float of our Company is 10.28% and with a market value at the time of the Listing of
approximately HK$514.4 million, which is higher than the 10% threshold and the expected market
value at the time of Listing of not less than HK$50,000,000 under Rule 19A.13C(1) of the Listing
Rules. The Company satisfies the free float requirement under Rule 19A.13C(1) of the Listing
Rules.
COMMENCEMENT OF DEALINGS
The H Share certificates will only become valid evidence of title at 8:00 a.m. on Friday, December
5, 2025 (Hong Kong time), provided that the Global Offering has become unconditional and the
right of termination described in the section headed “Underwriting – Underwriting Arrangements
and Expenses – Hong Kong Public Offering – Grounds for Termination ” in the Prospectus has
not been exercised. Investors who trade the H Shares on the basis of publicly available allocation
details prior to the receipt of H Share certificates or prior to the H Share certificates becoming
valid evidence of title do so entirely at their own risk.
Assuming that the Global Offering becomes unconditional at or before 8:00 a.m. on Friday,
December 5, 2025 (Hong Kong time), it is expected that dealings in the H Shares on the Stock
Exchange will commence at 9:00 a.m. on Friday, December 5, 2025 (Hong Kong time). The H
Shares will be traded in board lots of 500 H Shares each, and the stock code of the H Shares will
be 2408.
By order of the Board
Guangzhou Xiao Noodles Catering Management Co., Ltd.
Song Qi
Chairman of the Board, Executive Director and
Chief Executive Officer
Hong Kong, December 4, 2025
As at the date of this announcement, the Board of Directors of the Company comprises: (i) Mr.
Song Qi, Mr. Su Xuxiang and Ms. Luo Yanling as executive Directors; (ii) Mr. Wang Xiaolong as
a non-executive Director; and (iii) Mr. Xu Lei, Mr. Chan Kwok Bun and Mr. Zhong Jiesheng as
independent non-executive Directors.
