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Qing-feng, a renowned1 Beijing-based restaurant chain known for its steamed dumplings, has announced plans to go public next year.
庆丰,一家源于北京、因包子而闻名的连锁餐厅,宣布计划于明年上市。
The company says it hopes to list on the New Third Board in either March or April.
New Third Board is a pilot national share transfer system for small and medium-sized companies that allows individuals to buy equities2 over-the-counter before an IPO on either the Shanghai or Shenzhen stock exchanges.
State-owned Qing-feng is part of the Beijing Huatian Food group.
The company has to be converted to a share-holding company in order to go public, which could take at least three years.
Meanwhile, Qing-feng has also announced plans to set up five new logistics bases in Heilongjiang, Henan, Jilin, Shaanxi and Shandong.
It plans to increase that number to a thousand in the next 5-years.
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