On April 8th, according to the official website of the Hong Kong Stock Exchange, Mao Geping Cosmetics Co., Ltd. (hereinafter referred to as ‘Mao Geping’) officially submitted its listing application to the main board of the Hong Kong Stock Exchange, with China International Capital Corporation Limited acting as the sole sponsor.
Established in 2000, Mao Geping Company is a cosmetics enterprise founded by makeup artist Mao Geping, mainly engaged in the research and development, production, sales, and makeup technique training of cosmetics and skincare products, and has launched brands such as Maogeping and LOVE FOR KEEPS.
In terms of performance, Mao Geping Company achieved revenues of RMB 1.577 billion, RMB 1.829 billion, and RMB 2.885 billion respectively from 2021 to 2023, with a compound annual growth rate of 35.3%. As for net profits, they were RMB 330 million, RMB 352 million, and RMB 663 million respectively from 2021 to 2023, with a compound annual growth rate of 41.6%. Officials stated that the revenue growth is mainly due to an increase in product sales.
In terms of revenue from product categories, revenue from cosmetics products from 2021 to 2023 was RMB 1.026 billion, RMB 1.002 billion, and RMB 1.622 billion respectively. Mao Geping stated that the main beauty products include cosmetics and skincare, which are the main sources of the company’s revenue, accounting for 94.8%, 97%, and 96.4% of total revenue from 2021 to 2023 respectively.
Previously, Mao Geping submitted its IPO prospectus for listing on the Shanghai Stock Exchange main board at the end of 2016. In October 2021, Mao Geping passed the IPO review for the first time but ultimately failed to successfully list. In March 2023, Mao Geping updated its prospectus once again, continuing its efforts to list on the A-share main board. However, in September of the same year, the Shanghai Stock Exchange suspended its IPO review due to the expiration of the financial information recorded in the IPO application documents, requiring supplementary submission. Until January 4th of this year, Mao Geping voluntarily withdrew its IPO application.
