New stock news | It is rumored that Carote will be listed in Hong Kong as early as September and has become one of the fastest growing kitchenware brands in the world.

According to sources cited by IFR, kitchenware brand Carote plans to conduct its first initial public offering (IPO) in Hong Kong as soon as next month, raising $100 million to $150 million. Carote submitted its prospectus to the Hong Kong Stock Exchange on March 8, 2024, with French Paris Securities and Zoyin International being its joint sponsors. Founded in 2007, Carote is an emerging global lifestyle kitchenware brand that has established a strong presence in the online kitchenware segment in major markets such as China, the US, Western Europe, Southeast Asia, and Japan, and has become one of the fastest-growing kitchenware brands worldwide. Carote's brand products entered the international market for the first time in 2017, and as of March 4, 2024, the company's online business has expanded to cover 22 online markets in 20 regions, with a total of 51 self-operated online stores. Carote's product portfolio includes over 1,800 SKUs covering various kitchenware categories, including cookware, utensils, drinkware, tableware, and kitchen appliances. In terms of performance, from 2021 to 2023, Carote's operating income was approximately RMB 675 million, RMB 769 million, and RMB 1.583 billion, with a compound annual growth rate of 53.11%; while the corresponding net profits were approximately RMB 32 million, RMB 109 million, and RMB 237 million, with a compound annual growth rate of 173.14%.