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Code▼ | Industry | Offer Price | Lot Size | Entry Fee | Closing Date | Grey Market Date▼ | Listing Date▲ | |
Newtrend Group 02573.HK | Food Additives | 18.9-20.9 | 200 | 4,222 | 2025/06/05 | 2025/06/09 | 2025/06/10 | |
MetaLight 02605.HK | Advertising | 9.75 | 400 | N/A | 2025/06/05 | 2025/06/09 | 2025/06/10 | |
Rongta Technology 09881.HK | Advanced hardware and software | 10-12 | 500 | 6,061 | 2025/06/05 | 2025/06/09 | 2025/06/10 |
We are the leading Chinese premium beauty group. Founded in 2000 by a renowned makeup artist in China’s beauty industry, Mr. MAO Geping (毛戈平), we have established a strong presence in China’s beauty industry. We are the only domestic market player among the top ten premium beauty groups in China, ranking seventh based on the total retail sales of all premium brands owned by each group in 2023 with a market share of 1.8%, according to Frost & Sullivan. The premium beauty market in China has grown at a CAGR of 7.8% from 2018 to 2023, reaching RMB194.2 billion in 2023, and is expected to continue growing at a CAGR of 9.9%, reaching RMB311.0 billion by 2028. Domestic beauty groups, with their insights into Chinese consumer preferences, are well-positioned to meet the growing demand fueled by a renewed sense of cultural pride and appreciation for oriental aesthetics. From 2018 to 2023, the market size of domestic beauty brands in China expanded at a CAGR of 9.8%, outpacing the 5.9% CAGR of international brands during the same period. As the leader among China’s domestic premium beauty brands, we have experienced rapid growth throughout the Track Record Period. Our total revenue increased from RMB1,577.3 million in 2021 to RMB1,829.1 million in 2022 and further increased to RMB2,886.0 million in 2023, representing a CAGR of 35.3% from 2021 to 2023. Our total revenue also increased by 41.0% from RMB1,398.5 million in the six months ended June 30, 2023 to RMB1,971.5 million in the same period in 2024. In addition, our net profits increased from RMB330.9 million in 2021 to RMB352.1 million in 2022 and further increased to RMB663.5 million in 2023, representing a CAGR of 41.6% from 2021 to 2023. Our net profits also increased by 41.0% from RMB349.3 million in the six months ended June 30, 2023 to RMB492.5 million for the same period in 2024. According to Frost & Sullivan, our revenue growth rate during the Track Record Period significantly exceeded the industry average. With outstanding sales performance, we constantly solidify our market leadership and brand equity within the premium beauty industry. OUR BUSINESS Brands and Products Drawing upon the aesthetic philosophy of our founder, we have created beauty products that capture the essence of light and shadow makeup artistry and oriental aesthetics to bring out the best makeup effects. We primarily operate two beauty brands: our flagship brand MAOGEPING and Love Keeps. We offer a selective portfolio of color cosmetics and skincare products under each brand, speaking to different consumer demographics. Our commitment to quality is deeply embedded in our corporate culture and influences every facet of our operations from product design to consumer engagement, solidifying our premium market position and broad market recognition. MAOGEPING. As our flagship brand launched in 2000, MAOGEPING was named after our founder, Mr. Mao Geping (“Mr. Mao”). MAOGEPING offers a wide array of products guided by light and shadow makeup artistry and oriental aesthetics. In particular, “l(fā)ight and shadow makeup artistry” refers to the strategic use of highlighting and contouring techniques to enhance facial structure. “Oriental aesthetics,” on the other hand, encapsulates the beauty ideas and principles originating from traditional Chinese culture, characterized by Chinese elements that deeply resonate with Chinese consumers. Our commitment to such aesthetic philosophy has cemented MAOGEPING’s positioning within the premium beauty industry, blending artistry with makeup techniques and the essence of oriental culture to enhance makeup effects. Based on criteria aligned with industry standards including retail prices, sales channels and brand recognition, MAOGEPING was the only domestic brand among the top 15 premium beauty brands in China, ranking 12th by retail sales in 2023 with a market share of 1.8%, according to Frost & Sullivan. Throughout the Track Record Period, we primarily derived our revenue from product sales of MAOGEPING, which contributed 96.6%, 98.4%, 99.0%, 99.0% and 99.3% of our total revenue from product sales in 2021, 2022, 2023 and the six months ended June 30, 2023 and 2024, respectively. Love Keeps. In 2008, we expanded our brand portfolio with the launch of Love Keeps. Love Keeps offers an assortment of color cosmetics and skincare products that deliver reliable performance at accessible price points. By targeting the mass market, Love Keeps ensures accessibility to a broad range of customers. Upholding a premium brand positioning, we offer color cosmetics products inspired by Mr. Mao’s foundational philosophy in light and shadow makeup artistry and oriental aesthetics, as well as skincare lines that integrate high-quality formulas with select ingredients. Our color cosmetics primarily include makeup products for foundation, highlighting and contouring, lips and eyes. Our skincare products primarily include face creams, eye care, facial masks, serums and cleansers. Moreover, we have launched limited editions of color cosmetics, such as Eastern Aura Elegance (氣蘊東方), which encapsulate industry trends, celebrate traditional cultures, and incorporate advanced technology for enhanced application and wear. Some of our best-selling products, such as the Luminous Cream Foundation product series and Luxury Caviar Facial Mask, are widely recognized in the market. In the six months ended June 30, 2024, the Luminous Cream Foundation product series and Luxury Caviar Facial Mask had achieved retailed sales of over RMB200.0 million and RMB450.0 million, respectively. As of June 30, 2024, our product portfolio comprised 387 SKUs across both categories. Source: Mao Geping (01318) Prospectus (IPO Date : 2024/12/02) | |
Listing Market | MAIN |
Industry | Beauty & Toiletries Products and Services |
Background | H Shares |
Major Business Area | China |
Substantial Shareholders | MAO Geping (46.73%) MAO Niping (9.26%) MAO Huiping (7.83%) |
Directors | MAO Geping (Founder and Chairman and Executive Director) MAO Niping (Vice chairman and Senior Vice President and Executive Director) WANG Liqun (Vice chairman and Executive Director) SONG Hongquan (President and General Manager and Executive Director) MAO Huiping (Senior Vice President and Executive Director) WANG Lihua (Vice President and Executive Director) GU Jiong (Independent Non-Executive Director) HUANG Hui (Independent Non-Executive Director) LI Hailong (Independent Non-Executive Director) |
Company Secretary | DONG Leqin ZHANG Xiao |
Principal Bankers | China Minsheng Banking Corp. Ltd. |
Solicitors | Clifford Chance Jingtian & Gongcheng |
Auditors | Ernst & Young |
Registered Office | 40/F., Dah Sing Financial Centre, No. 248 Queen’s Road East, Wanchai, Hong Kong |
Share Registrars | Computershare Hong Kong Investor Services Ltd. [Tel: (852) 2862-8628] |
Share Registrars Tel No | (852) 2862-8628 |
Internet Address | http://www.maogeping.com |
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