SHANGHAI, July 15, 2022 – Shanghai Bolex Food Technology Co., Ltd (“Bolex Food”, 603170. SH), a leading company in the condiment industry, has officially completed its initial public offering on the main board of Shanghai Stock Exchange.
Competing in the condiment industry for 20 years, Bolex Food has grown as an industry-leading supplier that provides flavor and product solutions, with main products including condiments, ready-to-cook food products, and ingredients for beverages and desserts. Since its inception in 2001, Bolex Food has been dedicated to providing comprehensive and high-quality products for catering businesses, food industry customers, and household consumers.
With the vision of prioritizing the customers’ needs and product quality, Bolex Food continues to solidify and improve its market shares through solid research and development capabilities that fit the market demands. The company has established long-term and stable partnerships with domestic and international restaurant chains and large food industry enterprises.
In addition, with in-depth insight into the trend of consumer demands, Bolex Food has explored new business models and products such as freshly-made tea drinks and ready-to-cook food products. Bolex Food continues to further diversify its products and has successfully created popular products such as the Airmeter Pasta.
Although the COVID-19 pandemic has significantly impacted the food and catering industry and has accelerated industry-wide structural changes, Bolex Food has navigated through the global pandemic and achieved robust and resilient growth, recording a revenue exceeding CNY 900 million and securing a 21.78% annual increase in 2020, and achieving a CNY 1.57 billion revenue in 2021. The company continues to show improvements in its capabilities and profitability, with an upward trend in its profit.
Invested by Hosen Capital in 2017, Bolex Food is one of the successful examples from Hosen’s investment portfolio. With a wide-reaching network and an insightful set of sector maps, Hosen Capital continues to build leading food businesses along the food chain including consumption upgrades, industry upgrades and next-gen technology since 2010.
Through its strong research and development capabilities, its leading industrialized production capabilities, and safety management capabilities, Bolex Food will continue to lead the industry through innovation and high-quality services, to improve the standard of living for consumers and will improve its competitiveness in the food condiments industry to secure long-term, stable and sustainable growth.