1、Out of the quandary:Steady advances in the new eraChinas Chain Restaurants:Road to Capital Series Report 2023 CommitteeExpert Panel MembersChina Chain Store&Franchise AssociationEditorial Board MembersChina Chain Store&Franchise Association：PricewaterhouseCoopers：Additional thanks to Echo Ji,Grace M

2、a,Ivy Liu,Queenie Hu,Irene Yang,Yolanda Pan,Yolanda Liu,and Rossy Song for their contributions to this report.Hongtao Wang,Deputy Secretary-GeneralGonghe Sun,Director Ruida Wang,Director Candy Ma,Partner,AdvisoryJennifer Huang,Partner,AdvisoryRyan Chen,Partner,AssuranceWarren Zhang,Partner,Assurance

3、Foreword1.Catering industry in 20222.Primary and secondary market trends in the catering industry 3.The recovery trends in the first quarter of 20234.Listing rules and choice of listing venue in the catering industry5.Conclusion6.AppendixContact Us3592636424447ContentFor catering companies,2022 was

4、a challenging year.Many businesses faced fewer actual days of operation and lower customer number at physical locations.With the uncertainty of store operations,the industry as a whole has ushered in a time of reshaping,where many choose to keep a low profile and strengthen both internal and externa

5、l capabilities it is under this backdrop that catering companies are finding it an absolute necessity to reduce costs,increase efficiency,and enhance their business flexibility and resistance to risk.According to the National Bureau of Statistics,Chinas catering industry revenue in 2022 was approxim

6、ately RMB4.4 trillion,a year-on-year(YoY)decline of over 6%from 2021.In the face of short-term sluggishness of the offline catering market,companies are actively responding to the situation by adopting such methods as cross-category innovation and fusion,development of pre-prepared food product line