Today, news reports indicate that Mao Geping will launch the second round of Hong Kong NDR (Non-Deal Roadshow) in early July this year. The IPO is expected to raise approximately $200-$300 million, aiming for an official listing on the Hong Kong Stock Exchange in September.
It is reported that from 2021 to 2023, Mao Geping’s revenues were 1.577 billion RMB ($137.7 million), 1.829 billion RMB ($251.9 million), and 2.886 billion RMB ($397.5 million), respectively, with a compound annual growth rate (CAGR) of 35.3%. During the same period, net profits were 331 million RMB ($45.59 million), 352 million RMB ($48.48 million), and 664 million RMB ($91.45 million), with a CAGR of 41.6%, and net profit margins of 21.0%, 19.2%, and 23.0%, respectively.
According to Frost & Sullivan, Mao Geping’s revenue growth rate and net profit growth rate from 2021 to 2023 were significantly higher than the industry average. In 2023, the year-on-year growth rates for revenue and net profit were 57.8% and 88.6%, respectively.
From a channel distribution perspective, Mao Geping primarily sells products through a combination of offline and online channels. The offline channel is Mao Geping’s main source of income. In 2023, the revenue from offline and online channels accounted for 57.6% and 42.4% of Mao Geping’s total product sales revenue, respectively.
Notably, in this year’s Chinese 618 Shopping Festival cosmetics category top 10 brand list on Tmall, Mao Geping ranked seventh, with sales of approximately 93 million RMB, a year-on-year increase of 75.6%.
Previously, Mao Geping formally submitted a listing application to the Hong Kong Stock Exchange on April 8, with China International Capital Corporation (CICC) serving as the sole sponsor. The company launched its management NDR in mid-May this year.
