New stock news | Perfume brand management company Ying Tong Holdings submits listing application to Hong Kong Stock Exchange, managing a total of 63 brands.

According to the disclosure by the Hong Kong Stock Exchange on July 18th, Yingtong Holdings Limited (hereinafter referred to as Yingtong Holdings) has submitted a listing application to the main board of the Hong Kong stock exchange, with BNP Paribas and CITIC SEC as its joint sponsors. The prospectus disclosed that based on retail sales in 2023, Yingtong Holdings is the largest fragrance brand management company in mainland China, Hong Kong, and Macau. The company has a large and diversified brand portfolio, including not only fragrances but also makeup, skincare, personal care products, glasses, and home fragrances. According to Frost & Sullivan data, based on 2023 retail sales, Yingtong Holdings is the third largest fragrance group in mainland China, Hong Kong, and Macau. Based on 2023 retail sales, the company is also the only fragrance brand management company among the top five fragrance groups in mainland China as well as in mainland China, Hong Kong, and Macau comprehensive markets. As of the last feasible date, the company manages a total of 63 brands, including Herms, Van Cleef & Arpels, Chopard, Albion, and Laura Mercier, covering a diverse range of price points and functions to cater to the differentiated needs of consumers in mainland China, Hong Kong, and Macau. The company has over 7,500 offline sales points in over 400 cities in mainland China, Hong Kong, and Macau. In addition to offline sales channels, Yingtong Holdings also sells products online through well-known e-commerce platforms and social media platforms in mainland China, Hong Kong, and Macau. It is reported that Yingtong Holdings manages and sells perfumes of various price ranges, including entry-level high-end perfumes (priced at RMB 599 or below per 50ml), high-end perfumes (priced between RMB 600 and RMB 1,199 per 50ml), and luxury perfumes (priced at RMB 1,200 or more per 50ml). Financially, as of March 31, 2022, March 31, 2023, and March 31, 2024, the company's revenues were RMB 1.675 billion, RMB 1.699 billion, and RMB 1.864 billion respectively. During the same period, the annual net profits were RMB 171 million, RMB 173 million, and RMB 206 million respectively. The prospectus specifically warns that Yingtong Holdings may face difficulties in maintaining, expanding, or optimizing its sales and distribution network. The company relies on a comprehensive distribution network to promote and sell products. A large portion of the total revenue comes from sales to distributors and retailers. For the fiscal years ending March 31, 2022, 2023, and 2024, sales to distributors and retailers accounted for 74.9%, 78.2%, and 75.4% of the total revenue respectively. Competition for quality retailers and distributors in our industry is extremely fierce.