Nearly ten years after landing on the New OTC Market, Wallace, the former king of foreign fast food, officially announced his farewell to the capital market. The move marks a major turn in the fast-food giant's capital path. According to media reports, Fujian Huashi Food Co., Ltd. issued an announcement on February 11, 2026, announcing that the company had officially completed delisting from the New Third Board. The stock will cease listing from February 12, 2026.It ended its nearly ten-year listing process.
For this delisting, Huashi Food stated that it fully considered the current operating conditions and made the decision in conjunction with the current market environment. The company plans to further improve the efficiency of business decision-making and reduce operating costs through this move, in line with its long-term strategic development plan.
Looking back on the development history of Wallace, the company was founded in 2001, and its first store was opened in front of Fujian Normal University. With its extremely high cost performance, Wallace quickly expanded across the country.
In April 2016, the company was officially listed on the New Third Board under the name Huashi Food, opening up its in-depth connection with the capital market.
By 2022, the number of Wallace stores will successfully exceed 20,000. This number even exceeded the sum of the three stores of KFC, McDonald's and Dicos during the same period, making it the first truly large-scale giant in the history of Chinese fast food.
However, the competitive landscape of the fast food industry has changed dramatically in recent years. New burger forces in China, represented by Tustin, have risen rapidly. With their national trend elements and differentiated taste, they have quickly captured a large number of young user groups.
At the same time, well-known catering giants also began to dive downwards. KFC's Crazy Thursday and McDonald's various money-saving meals have directly squeezed Wallace's living space in the low-price segment.
These brands have formed a siege on Wallace, greatly reducing the market effectiveness of the low-price strategy on which Wallace started. The price advantage that once existed is no longer an impenetrable moat in the face of the giants' subsidy wars and the innovations of new forces.
Faced with the dramatic changes in the competitive landscape, Wallace chose to retreat from the capital market. The fast food giant is working hard to adjust its posture and try to find new survival rules and growth logic in the era of more brutal stock competition.