According to the news from Hong Kong Stock Exchange on November 20, Mao Geping Cosmetic Co., Ltd. (referred to as Mao Geping) passed the listing hearing on the main board of the Hong Kong Stock Exchange, with China International Capital Corporation being the exclusive sponsor.

According to the prospectus, Maogeping is a leading high-end cosmetic group in China. Founded in 2000 by Mr. Maogeping, an iconic figure in the Chinese cosmetic industry, the company has established strong influence in the Chinese cosmetic industry. According to Frost & Sullivan's data, the company is the only Chinese company among the top ten high-end cosmetic groups in the Chinese market, ranking seventh in terms of retail sales in 2023, with a market share of 1.8%.

Based on the aesthetic concept of founder Maogeping, the company has created a series of cosmetic products that integrate the essence of light and shadow aesthetics and Oriental aesthetics to showcase the best makeup effects. The company has two major cosmetics brands: the flagship brand MAOGEPING and Zhi'ai Zhongsheng. Each brand offers a selection of makeup and skincare combinations to meet the needs of different consumer groups.

In terms of the market, the high-end cosmetic market in China grew at a compound annual growth rate of 7.8% from 2018 to 2023, reaching RMB 194.2 billion in 2023. It is expected to continue to grow at a compound annual growth rate of 9.9% and reach RMB 311 billion in 2028. The market size of Chinese domestic cosmetic brands grew at a compound annual growth rate of 9.8% from 2018 to 2023, higher than the 5.9% compound annual growth rate of international brands during the same period.

According to Frost & Sullivan, MAOGEPING is the only domestic brand among the top fifteen high-end cosmetic brands in the Chinese market. Ranked twelfth in terms of retail sales in 2023, with a market share of 1.8%. Throughout the brand's development history, Maogeping cosmetics has always integrated innovation into various aspects of product quality, marketing, and consumer experience. According to the 2023 survey results, Maogeping cosmetics firmly holds the top spot in the makeup sector, leading the trend of domestic cosmetic consumption.

Financially, for the six months ended June 30 in 2021, 2022, 2023, and 2024 respectively, Maogeping achieved revenues of approximately RMB 1.577 billion, 1.829 billion, 2.886 billion, and 1.972 billion; during the same period, the company's net profit and total revenue were approximately RMB 0.331 billion, 0.352 billion, 0.663 billion, and 0.493 billion, respectively.

Through the hearing at the Hong Kong Stock Exchange, Maogeping has already stepped half a foot into the gateway to listing. If all goes well, Maogeping is expected to become the 'first domestic cosmetic stock in Hong Kong'.