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China’s ‘Pork Queen’ Goes Public: Qian Da Ma’s IPO Is a Bet to Rescue a Thin‑Margin Fresh‑food Empire

Qian Da Ma, China’s largest community fresh‑food chain by store count in South China, has filed to list in Hong Kong as it confronts slowing revenue, thin margins and heavy debt. The IPO seeks funds to deepen supply‑chain capacity, refine store economics and resume controlled expansion beyond its southern stronghold.