While more than 10 consumer and F&B chains successfully listed in 2025, this year presents a starkly different landscape. Chinese fast-food brand LXJ International’s third listing application expired last week after failing to secure a hearing within six months, Hong Kong Exchanges and Clearing (HKEX) filings showed.Similar lapses recently affected Yuen Kee Food Group, the largest dumpling and wonton company in China, Qdama International, the leading seller of meat and fresh produce on the mainland, and packaged-food manufacturer Grandpa’s Farm International.For listed companies, share prices faced heavy pressure. During the second quarter of 2026, Chinese consumer stocks tracked by Goldman Sachs fell an average of 17 per cent, underperforming both the Hang Seng Index and Shanghai’s CSI 300, according to a research note from the bank on Tuesday.Notably, Mixue Group, China’s largest tea chain, grew 2025 revenue and profit by over 30 per cent. However, rising raw material costs, intense competition capping price hikes, and weakening consumption drove its stock down 48 per cent this year.Similarly, Xiao Noodles, a Chinese fast-casual brand listed last December, has plunged nearly 50 per cent from its listing price.