新股消息 | 颖通控股通过港交所聆讯 为中国除品牌所有者外最大的香水集团

Core Viewpoint - Ying Tong Holdings Limited has passed the listing hearing on the Hong Kong Stock Exchange, with BNP Paribas and CITIC Securities acting as joint sponsors [1] Company Overview - Ying Tong Holdings is the largest perfume group in China (including Hong Kong and Macau) by retail sales, excluding brand owner fragrance groups [4] - The company primarily engages in the sales and distribution of products sourced from third-party brand licensors, differentiating itself from brand owner fragrance groups [4] - The company has a diverse brand portfolio that includes perfumes, cosmetics, skincare products, personal care items, eyewear, and home fragrances [4] Market Presence - The company has a comprehensive sales and distribution network covering over 400 cities in China (including Hong Kong and Macau), with more than 100 directly operated offline points of sale (POS) and over 8,000 POS operated by retail customers [5] - In addition to offline sales, the company also sells products through well-known e-commerce platforms and social media in China [5] Brand Partnerships - The company has established long-term business relationships with brand licensors looking to enter or expand their influence in the Chinese market [6] - As of May 31, 2025, the company distributes and markets products for a total of 72 external brands, including Hermès, Van Cleef & Arpels, and Chopard, catering to diverse pricing tiers and consumer needs [6] Financial Performance - For the fiscal years ending March 31, 2023, 2024, and 2025, the company's revenue is projected to be approximately RMB 1.699 billion, RMB 1.864 billion, and RMB 2.083 billion, respectively [6][7] - The net profit for the same periods is expected to be around RMB 173 million, RMB 206 million, and RMB 227 million, respectively [6][7]