MASTERBEEF GROUP Business Summary

MasterBeef Group (MB) is a Hong Kong-based full-service restaurant operator that generates revenue through transaction-based sales across its portfolio of specialty dining outlets. The company’s primary business segments are centered on mid-range Taiwanese cuisine, specifically Taiwanese hotpot under the "Master Beef" brand and Taiwanese barbecue under "Anping Grill." As of March 2026, the group operates 12 locations in Hong Kong and maintains a dominant market share, with Master Beef ranked as the top Taiwanese hotpot chain in the region by revenue. MB competes directly with major players such as Haidilao International Holding Ltd., Super Hi International, and Zensho Holdings (Gyu-Kaku), distinguishing itself through a semi-self-service model that balances premium ingredients with high operational efficiency in the niche Taiwanese specialty segment. The group was co-founded in 2019 by a leadership team including Ms. Oi Wai Chau, Ms. Oi Yee Chau, Ms. Tsz Kiu So, Mr. Ka Chun Lam (Ryan Lam), and Mr. Shing Yan Lee. Ryan Lam serves as the Chief Executive Officer, leveraging over a decade of experience in the food and beverage industry to drive the company’s strategic expansion. The executive team is supported by a board of directors featuring independent members such as investment specialist Chung Fan Cheng and veteran financier Man Fai Danny Liu. Following its 2025 IPO on the Nasdaq and subsequent dual listing on the Frankfurt Stock Exchange, the company has attracted institutional interest from investors including XTX Topco Ltd and Geode Capital Management, focusing its current capital on technological integration and regional expansion into Southeast Asia.