Successfully listed on the Hong Kong Stock Exchange main board, FAMEGLOW (03774) initiates a new narrative of growth in "medical aesthetics + AI."

On June 30, 2026, FAMEGLOW (03774) officially transferred from the Hong Kong Stock Exchange's Growth Enterprise Market (GEM) to the main board, changing its stock code from 08603 to 03774. This medical beauty service provider, which landed on GEM in October 2018, has entered the ranks of the main board of the Hong Kong capital market after nearly eight years of growth. On the first day of the transfer, the company's stock price opened high and continued to rise, opening at HK$14.5 and closing at HK$16, with a market capitalization of approximately HK$13.1 billion, reflecting positive market expectations for improved liquidity and revaluation of value after the transfer. Against the backdrop of the simplified transfer mechanism of GEM, FAMEGLOW has become one of the few Hong Kong stock companies in recent years to successfully transfer to the main board, which not only confirms the open attitude of the Hong Kong Stock Exchange towards quality GEM companies upgrading, but also represents a comprehensive recognition of the company's governance level, business scale, and financial performance. It is worth noting that this transfer coincides with a key moment for the company to expand its "AI+ anti-aging" business. The stricter regulatory requirements and higher market thresholds of the main board are authoritative endorsements of the company's operational strength; and with institutional investors and international capital bringing higher liquidity, the main board listing will also help the company broaden its financing channels and provide more ample capital ammunition for the next stage of expansion. Public information shows that FAMEGLOW is a local medical beauty service provider in Hong Kong, with business covering non-surgical medical beauty (energy equipment treatments, minimally invasive treatments), traditional beauty services (facial care, manicures, massages), and skincare product sales. As of now, the company operates 16 medical beauty centers in core commercial areas such as Causeway Bay, Tsim Sha Tsui, Mong Kok, Central, and Macau. In recent years, the company has built a rich multi-brand matrix, introducing brands such as "Angus' Beauty Concept", "LASERKOOL", "Face It", "Dr. Healthlase", "The Organic Pharmacy", "Medi Hair", "per FACE Essential", and "i FACES" in addition to medical beauty brands "per Face" and "20 Beauty", as well as hair removal and facial service brand "20 Laser". These brands cover multiple sub-sectors such as medical beauty, men's hair removal, laser skincare, hair care, and lifestyle beauty, effectively responding to consumers' increasingly diverse daily beauty needs. In terms of operational performance, the past three years have been a period of rapid expansion for FAMEGLOW. As of the fiscal years ended March 31, 2024, 2025, and 2026, the company's revenues were approximately HK$299 million, HK$435 million, and HK$590 million respectively, with a compound annual growth rate of over 40%; net profit also steadily increased from approximately HK$41 million to HK$55 million. At the same time, the customer base has significantly expanded, with active customers (those who have received at least one treatment in the relevant fiscal year) increasing from approximately 13,000 in the 2024 fiscal year to approximately 24,000 in the 2026 fiscal year, nearly doubling; the average treatment expenditure per customer has also increased from approximately HK$22,000 to HK$24,000, steadily enhancing the single customer value, confirming the continuous strengthening of service quality and customer stickiness. As of March 31, 2026, the company had a bank balance and cash of approximately HK$110.7 million, total assets of HK$259 million, total equity increased to HK$207.1 million, with ample cash reserves and continued financial strength. Looking ahead, FAMEGLOW is anchoring its strategic focus on the emerging track of "AI+ high-end biotechnological skincare". In October 2025, the company jointly established a joint venture company with Japanese pharmaceutical companies and commercial biotechnology companies in Singapore, focusing on the research and sales of anti-aging products and solutions. As of now, the joint venture company has launched the precise anti-aging brand "Sujiyuanchuang", dedicated to providing customers with a comprehensive anti-aging solution from the inside out. In the future, the company will continue to increase strategic investment in the field of AI and high-end biotechnological skincare, relying on its commissioned research and development team to integrate AI anti-aging management solutions (the underlying application of which includes AI technology authorization from leading enterprise-level AI model leader DEEPEXI TECH), building a full-chain AI anti-aging management service system covering skin quality monitoring, aging assessment, solution matching, and effect tracking. On this basis, the company is also expected to collaborate with multiple high-quality industry partners to integrate clinical anti-aging technology, bioresearch capabilities, AI computing platforms, and commercial operation resources, constructing a full-chain industrial ecology of "AI technology + clinical anti-aging + bioresearch + commercial operation". After the milestone event of successfully transferring to the main board, for FAMEGLOW, how to effectively translate the brand momentum and capital advantages brought by the main board into performance growth will be a key issue in the next stage. Whether this "medical beauty + AI" target, which has emerged from GEM, can continue to write a growth story on the main board stage is also worth investors' continued attention.