New Stock News | It is rumored that Carlo has started its listing promotion and is scheduled to accept IPO subscriptions starting from September 19th.

It is reported that the kitchenware brand Carote has initiated its first public offering promotion to understand institutional investors' intentions. It is expected to raise approximately 1.2 billion US dollars (approximately 9.36 billion Hong Kong dollars) through this listing, with the tentative date for the IPO set for September 19th. On August 30th, Carote participated in the listing hearing on the main board of the Hong Kong Stock Exchange, with CMB International and BNP PARIBAS as its joint sponsors. Founded in 2007, Carote is an emerging global lifestyle kitchenware brand that has established a strong position in the online kitchenware segment in major markets such as China, the United States, Western Europe, Southeast Asia, and Japan. It has become one of the fastest-growing kitchenware brands globally. According to the prospectus, Carote's branded products entered the international market for the first time in 2017. As of the last practicable date (June 5, 2024), its product portfolio includes over 2,200 SKUs covering various kitchenware categories such as cookware, kitchen utensils, and drinkware. In terms of financials, Carote achieved revenues of approximately 675 million, 769 million, 1.583 billion, and 503 million Chinese yuan in the fiscal years 2021, 2022, 2023, and the three months ending March 31, 2024, respectively. The profits for the same periods were approximately 32 million, 109 million, 237 million, and 89 million Chinese yuan, respectively.