Tian Yuan advised Anjoy Food Group Co., Ltd. (“Anjoy Food” or the “Company,” A-share stock code: 603345.SH, H-share stock code: 02648.HK), a leading A-share listed company, on its successful IPO and listing on the Hong Kong Stock Exchange Main Board on July 4, 2025. This made Anjoy Food the first “A+H” listed company in China’s frozen food sector, raising net proceeds of approximately HKD 2.302 billion. 

 

Anjoy Food is a market leader in China’s frozen food industry, adhering to its philosophy of “Food for the People.” Its product portfolio includes frozen prepared foods, frozen ready-to-cook dishes, and frozen rice/noodle products, catering to households, restaurants, and on-the-go consumption. According to Frost & Sullivan, Anjoy Food ranked as China’s largest frozen food company by 2024 revenue, dominating the frozen prepared foods market with a share five times that of the runner-up. It also led the frozen ready-to-cook dishes market, surpassing the combined share of its next three competitors, and ranked fourth in frozen rice/noodle products. 

 

Tian Yuan served as the Company’s PRC legal counsel and data compliance advisor for the Hong Kong listing. The team’s deep expertise in cross-border capital markets and consumer sectors, coupled with efficient execution and seamless collaboration, ensured a smooth listing process and garnered high praise from all parties. 

 

The project was led by Chief Partner Lihua Wang, supervised by Senior Partner Xiangping Wang, and executed by Partners Huiyan Chen and Yiming Zhang, alongside capital markets lawyers Jiarui Chen, Yang Yang, Li Wang, Yajiao Liao, Lianguan Zhao, and Jiayi Liu. Data compliance services were handled by Partner Xiaohua Li’s team.