Chinese Cosmetics Firm Mao Geping Suspends IPO

Recently, according to the official website of the Shanghai Stock Exchange, the IPO status of Mao Geping Cosmetics CO., LTD. (referred to as “Mao Geping”) is currently shown as “suspended (financial report update).”

The Shanghai Stock Exchange stated that Mao Geping needs to supplement and submit the financial information recorded in its application documents for issuance and listing as it has expired. According to Article 60 of the Rules for the Review of Issuance and Listing of Stocks on the Shanghai Stock Exchange, the review of its issuance and listing is suspended.

It is reported that in 2016, makeup artist Mao Geping gained popularity in China’s video platforms due to his excellent makeup skills, and subsequently became well-known. In 2000, he established the eponymous beauty brand MAOGEPING, mainly engaged in the research, development, production, and sales of cosmetics and skincare products, as well as makeup technique training. The brand launched products such as MAOGEPING and Love For Keeps.

According to the prospectus, Mao Geping’s revenue from 2020 to 2022 was RMB 882 million ($120.8 million), RMB 1.43 billion ($195.9 million), and RMB 1.682 billion ($230.4 million), with year-on-year growth rates of 62.33% and 17.5% in 2021 and 2022, respectively. In terms of net profit, the figures for 2020 to 2022 were RMB 198 million ($27.12 million), RMB 327 million ($44.79 million), and RMB 349 million ($47.8 million).

Looking specifically at the brands, Mao Geping’s brand sales revenue from 2020 to 2022 was RMB 754 million ($103.27 million), RMB 1.28 billion ($175.3 million), and RMB 1.571 billion ($215.2 million), accounting for the majority of the total operating revenue. During the same period, Love For Keeps sales revenue was RMB 39.65 million ($5.43 million), RMB 50.4552 million ($6.91 million), and RMB 28.9925 million ($3.97 million), accounting for 4.60%, 3.59%, and 1.76% of the main business revenue, respectively.

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