According to the disclosure by the HKEX on July 18th, Ying Tong Holdings Limited (referred to as Ying Tong Holdings) submitted an application for listing on the HKEX main board.
Intelligence Finance APP learned that according to the disclosure by the HKEX on July 18th, Ying Tong Holdings Limited (referred to as Ying Tong Holdings) submitted an application for listing on the HKEX main board. BNP Paribas and Citic Securities are its joint sponsors.
According to the prospectus, as of 2023, based on retail sales, Ying Tong Holdings is the largest perfume brand management company in mainland China, Hong Kong and Macau. The company has a large and diversified brand portfolio, which includes not only perfumes, but also makeup, skincare products, personal care products, eyewear and home fragrances. According to Frost & Sullivan’s data, based on the retail sales in 2023, Ying Tong Holdings is the third largest perfume group in mainland China, Hong Kong and Macau. Based on the retail sales in 2023, the company is also the only perfume brand management company among the top five perfume groups in mainland China and the comprehensive market of mainland China, Hong Kong and Macau.
As of the final feasible date, the company manages a total of 63 brands, including Hermes, Van Cleef & Arpels, Chopard, Albion and Laura Mercier, covering diverse pricing levels and functions to cater to the differentiated demands of consumers in mainland China, Hong Kong and Macau. The company has over 7,500 offline sales points in more than 400 cities in mainland China, Hong Kong and Macau. In addition to offline sales channels, Ying Tong Holdings also sells its products online through well-known e-commerce platforms and social media platforms in mainland China, Hong Kong and Macau.
It is reported that Ying Tong Holdings manages and sells perfumes of various price ranges, including entry-level high-end perfumes (priced at RMB 599 or below per 50 ml), high-end perfumes (priced between RMB 600 and RMB 1,199 per 50 ml) and luxury perfumes (priced at RMB 1,200 or above per 50 ml).
In terms of finance, as of March 31, 2022, March 31, 2023, and March 31, 2024, the company's revenue was RMB 1.675 billion, RMB 1.699 billion, and RMB 1.864 billion, respectively. During the same period, the net profits were RMB 0.171 billion, RMB 0.173 billion, and RMB 0.206 billion, respectively.
The prospectus specially reminds that Ying Tong Holdings may encounter difficulties in maintaining, expanding or optimizing its sales and distribution network. The company relies on an all-around distribution network to promote and sell its products, and the sales to distributors and retailers account for a large proportion of its total revenue. As of the annual periods ending on March 31, 2022, 2023 and 2024, 74.9%, 78.2% and 75.4% of the company's total revenue was generated from sales to distributors and retailers. The competition for high-quality retailers and distributors in our industry is very intense.