New Stock News | Mao Geping's Hong Kong Stock IPO Prospectus Invalid

MGP Cosmetics Company Limited (referred to as MGP) submitted its Hong Kong Stock Exchange prospectus on April 8, 2024, which expired six months later on October 8. CICC was its exclusive sponsor at the time of submission. The prospectus shows that MGP is a leading high-end beauty group in China, dedicated to providing consumers with a comprehensive beauty experience through high-quality and innovative beauty products, professional makeup art training, and experiential and personalized customer service. According to Frost & Sullivan data, MGP is the only Chinese company among the top ten high-end beauty groups in the Chinese market, ranking eighth by retail sales in 2022. MGP's makeup products mainly include foundation, highlighter and contour, lip makeup, and eye makeup. In addition, its skincare products mainly include creams, eye care, masks, essences, and cleansers. Some of the company's best-selling products (such as the Light Sensation Powder Cream series and Luxury Caviar Mask) have been widely recognized in the market, with retail sales exceeding 300 million yuan and 600 million yuan respectively in 2023. As of December 31, 2023, the company's product portfolio includes 378 SKUs across two categories.