New stock news | Perfume brand management company Ying Tong Kong once again submitted the application to the Hong Kong Stock Exchange to manage 66 external brands.

According to the disclosure by the Hong Kong Stock Exchange on February 7th, Intellifast Holdings Limited (hereinafter referred to as "Intellifast Holdings") has once again submitted an application for listing on the main board of the Hong Kong Stock Exchange, with BNP Paribas and CITIC SEC as its joint sponsors. It is reported that the company had previously submitted a listing application to the Hong Kong Stock Exchange on July 18, 2024. According to the prospectus, based on retail sales in 2023, Intellifast Holdings is the largest perfume brand management company in China (including Hong Kong and Macau). The company has a diversified brand portfolio, including not only perfumes but also makeup, skincare products, personal care products, eyewear, and home fragrances. According to Frost & Sullivan data, based on retail sales in 2023, the company is the third largest perfume group in China (including Hong Kong and Macau). Based on retail sales in 2023, it is also the only perfume brand management company among the top five perfume groups in mainland China and China (including Hong Kong and Macau). As of September 30, 2024, the company's products are sold in over 100 self-operated offline POS and over 7,500 POS operated by retail customers. The products sold by Intellifast Holdings mainly come from brand licensors in Europe, Japan, and the United States. As of the latest feasible date, it manages a total of 66 external brands, including Herms, Van Cleef & Arpels, Chopard, Albion, and Laura Mercier. In addition, the company establishes and maintains a full-channel sales and distribution network for international perfume brands in China (including Hong Kong and Macau). As of September 30, 2024, its sales network covers over 7,500 offline POS in over 400 cities in mainland China, Hong Kong, and Macau, operated by the company or retail customers. In terms of perfumes, Intellifast Holdings manages and sells perfumes of various price ranges, including entry-level high-end perfumes (priced at 599 yuan or less per 50 ml), high-end perfumes (priced between 600 yuan and 1,199 yuan per 50 ml), and luxury perfumes (priced at 1,200 yuan or more per 50 ml). As of the latest feasible date, the company offers perfumes from 48 external brands. Public data shows that the total market size of perfume retail sales in China (including Hong Kong and Macau) increased from 146 billion yuan in 2018 to 261 billion yuan in 2023, with a compound annual growth rate of approximately 12.3%, and is expected to further increase to 477 billion yuan by 2028, with a compound annual growth rate of approximately 12.8% from 2023 to 2028. Intellifast Holdings' direct sales channels include online stores operated on e-commerce and social media platforms (such as Tmall, Tmall International, JD.com, JD International, Xiaohongshu, Douyin, and WeChat), as well as offline stores/counters operated in shopping malls and department stores to directly sell products to consumers. As of March 31, 2022, 2023, and 2024, the company operated 30, 32, 42, and 48 online stores, respectively. In terms of finances, as of March 31, 2022, 2023, and 2024, the company's revenues were 1.675 billion yuan, 1.699 billion yuan, and 1.864 billion yuan, respectively. During the same period, the annual net profits were 171 million yuan, 173 million yuan, and 206 million yuan, respectively. Intellifast Holdings specifically mentioned in the prospectus that it may encounter difficulties in maintaining, expanding, or optimizing its sales and distribution network. The company relies on a comprehensive distribution network for product promotion and sales. A significant portion of its total revenue comes from sales to distributors and retailers. As of the end of the fiscal year ending March 31, 2022, 2023, and 2024, as well as the six months ending September 30, 2024, 74.9%, 78.2%, 75.4%, and 79.7% of total revenue was generated from sales to distributors and retailers.