新消费“扮靓”证券化之路 美妆产业链公司扎堆IPO

Core Viewpoint - The beauty industry in China is experiencing a surge in IPO activity, driven by supportive policies, strong market demand, and the success of existing public companies [1][6]. Industry Overview - The beauty industry is valued in the hundreds of billions, with significant support from regions like Shanghai and Jiangsu [1]. - Over 30 beauty-related companies are preparing for IPOs this year, with three already listed and others in various stages of the IPO process [1]. - The types of companies preparing for IPOs include brand manufacturers, raw material suppliers, e-commerce service providers, and medical beauty enterprises, with brand manufacturers being the primary focus [1][2]. Company Highlights - Notable brands such as Plant Doctor, Gu Yu, and Lin Qingxuan are among those preparing for IPOs, with Plant Doctor aiming to raise 998 million yuan [2]. - Gu Yu Bio has initiated its A-share IPO process, targeting approximately 4 billion yuan in revenue for 2024 [2]. - Companies like He Yuan Bio, which focuses on biopharmaceuticals and beauty product raw materials, are also entering the IPO market, seeking to raise 2.4 billion yuan [3]. Market Trends - The Hong Kong Stock Exchange has become a preferred destination for beauty companies, with several firms transitioning from A-share listings to pursue opportunities in Hong Kong [4][5]. - The successful IPOs of companies like Mao Ge Ping and Ying Tong Holdings have inspired more beauty companies to consider listing in Hong Kong [4]. Driving Factors for IPO Surge - Three main factors are driving the IPO enthusiasm in the beauty industry: 1. Industry Dynamics: The domestic market is seeing a shift towards local brands, with increased consumer confidence and demand for high-quality, cost-effective products [6]. 2. Company Performance: Publicly listed beauty companies are demonstrating strong growth, with a reported revenue growth rate of 7.3% for key players in the first half of the year [6]. 3. Policy Support: Recent reforms by the Hong Kong Stock Exchange and favorable regulatory policies are creating a more conducive environment for new listings [6].