上半年多家美妆企业“冲刺”IPO

Core Insights - The beauty industry in China is experiencing a significant wave of capital activity, with over 20 beauty-related companies attempting IPOs in the first half of the year, marking a shift from the previous years' downturn [2][3] - The recent listing of Ying Tong Holdings on the Hong Kong Stock Exchange has made it the first publicly traded perfume company in China, highlighting the growing interest in beauty sector IPOs [1][2] Industry Trends - The number of beauty companies seeking IPOs has surged, with 8 companies making progress in June alone, indicating a potential window for listings due to consumer recovery and industry upgrades [1][2] - The capital market's attitude towards beauty companies has shifted from "indifferent" in 2023-2024 to more favorable, following regulatory changes that support quality enterprises in the consumption sector [2][3] Company Developments - Companies like Lin Qingxuan and Gu Yu are in the race for their respective "first stock" titles in niche segments, with Lin Qingxuan reporting a revenue of 1.21 billion yuan for 2024, positioning itself as a leading domestic high-end skincare brand [4] - The raw material sector is also active, with companies like Weiqi Technology and Jia Kai Biological pushing for IPOs, reflecting a comprehensive engagement across the beauty industry supply chain [4] Market Dynamics - The Hong Kong Stock Exchange has become a preferred listing venue for beauty companies, driven by favorable policies and higher international capital recognition, contrasting with previous preferences for the Shenzhen Stock Exchange [5][6] - In the first half of the year, the Hong Kong Stock Exchange raised a total of 106.71 billion HKD, a significant increase of 688.54% compared to the same period in 2024, indicating a robust market for new listings [6]