HEILAN HOME(SH:600398) Xin Lang Cai Jing·2025-11-25 07:52Core Viewpoint - HLA Group has submitted an application for a mainboard listing on the Hong Kong Stock Exchange, aiming to establish an "A+H" dual financing platform [1] Group 1: Company Overview - HLA Group was listed on the Shanghai Stock Exchange in 2014, with a total market capitalization of approximately 29.25 billion yuan as of November 25, 2025 [1] - The company ranks as the second largest men's apparel brand globally in 2024 and has maintained the top position in the Asian men's apparel market for 11 consecutive years since 2014 [1] - HLA Group holds a 5.6% market share in the Chinese men's apparel market, surpassing the combined market share of the second to fifth largest competitors [1] - The company has a diversified brand matrix, including the core men's brand HLA, the premium women's brand OVV, and the high-end children's brand Ying's [1] Group 2: Financial Performance - Revenue figures for the company from 2022 to 2024 are 17.905 billion yuan, 20.754 billion yuan, and 20.162 billion yuan, with 11.238 billion yuan achieved in the first half of 2025 [2] - Net profit for the same period is 2.062 billion yuan, 2.918 billion yuan, 2.189 billion yuan, and 1.588 billion yuan [2] - The company's gross margin improved from 43.4% in 2022 to 46.9% in the first half of 2025 [2] - The core brand HLA contributes over 74% of total revenue, with a 74.1% share in the first half of 2025 [2] Group 3: Market Expansion and Future Plans - The company plans to accelerate its global expansion through the upcoming listing, targeting new markets in Central Asia, the Middle East, and Africa in the second half of 2025 [2] - The overseas revenue showed significant growth, increasing by 27.42% year-on-year to 206 million yuan in the first half of 2025 [2] - The funds raised from the Hong Kong listing will be used for optimizing sales channels, brand building, deepening international brand cooperation, potential acquisitions, digitalization, and R&D innovation [2]