On 10 December 2024, Mao Geping Cosmetics Co., Ltd. (Mao Geping, 01318.HK) was officially listed on the main board of the Hong Kong Stock Exchange, becoming the“first Chinese beauty brand to be listed on the Hong Kong Stock Exchange”.

 

In this transaction, Clifford Chance acted as international legal counsel to the Issuer in relation to the relevant Hong Kong and US laws. Jingtian & Gongcheng acted as the Issuer's PRC domestic legal adviser and data compliance adviser.

 

CICC was the Sole Sponsor for this project. Paul Hastings and Tian Yuan Law Firm acted as legal advisors to the Sole Sponsor and the Underwriters in respect of the relevant Hong Kong and US laws and PRC laws respectively.

 

Founded in 2000, Mao Geping is a leading Chinese high-end beauty group. It completed two rounds of fundraising in 2010 and 2015, and applied to list on the main board of the Shanghai Stock Exchange (SSE) for the first time in 2016. In 2021, Mao Geping passed its initial listing but ultimately failed to go public before updating its prospectus to restart its IPO in 2023. In 2024, after withdrawing its A-share listing application, it applied twice to the Hong Kong Stock Exchange (HKSE) in April and October of that year and passed the listing hearing on 20 November 2012.

 

The funds raised from the IPO will be used by Mao Geping mainly for expanding its sales network, brand-building activities, overseas expansion and acquisitions, strengthening its manufacturing and supply chain capabilities, and enhancing its product design and development capabilities.