Core Viewpoint - The company, Ying Tong Holdings, is set to launch an IPO from June 18 to June 23, 2025, offering 333 million shares with a price range of HKD 2.80 to HKD 3.38 per share, aiming to raise approximately HKD 950 million for various growth initiatives [1][4] Group 1: Company Overview - Ying Tong Holdings is the largest fragrance group in China (including Hong Kong and Macau) excluding brand owners, with a significant focus on sales and distribution of third-party branded products [1] - The company has a diverse product portfolio that includes fragrances, cosmetics, skincare, personal care products, eyewear, and home fragrances, leveraging its extensive operational history and expertise in the fragrance industry [1][2] Group 2: Sales and Distribution Network - The company operates a comprehensive sales and distribution network across over 400 cities in China, with more than 100 directly operated offline points of sale (POS) and over 8,000 POS operated by retail customers [2] - The company utilizes both offline and online sales channels, including major e-commerce platforms and social media, to enhance consumer experience and meet diverse consumer needs [2] Group 3: Brand Partnerships - The company has established long-term partnerships with numerous brand licensors looking to enter or expand in the Chinese market, distributing products for 72 external brands, including high-end names like Hermès and Chopard [3] - The company holds exclusive or sub-licensing rights for 61 of these brands, which strengthens its competitive advantage and reflects brand licensors' trust in the company [3] Group 4: Use of IPO Proceeds - Assuming a mid-point offer price of HKD 3.09 per share, the estimated net proceeds from the global offering will be approximately HKD 950 million, allocated as follows: 15% for developing proprietary brands, 55% for expanding direct sales channels, 10% for digital transformation, 10% for enhancing brand reputation, and 10% for working capital [4]

Group 1: IPO Approvals - Five companies have successfully passed the IPO hearing on June 9-10, including Yaojie Ankang, Yingtong Holdings, Saint Bella, Xiangjiang Electric, and Cao Cao Mobility [1] - Two companies, Guangzhou Yinnuo Pharmaceutical Group and Shenzhen Chuangzhixin Lian Technology, have submitted their IPO applications [12][13] Group 2: Yaojie Ankang - Yaojie Ankang is a biopharmaceutical company focused on developing innovative therapies for tumors, inflammation, and cardiovascular metabolic diseases [1] - The company's core product, Tinengotinib, is a multi-target kinase inhibitor currently undergoing two pivotal clinical trials for cholangiocarcinoma [2] Group 3: Yingtong Holdings - Yingtong Holdings is the largest perfume group in China (including Hong Kong and Macau) excluding brand owners [3] - The company operates a comprehensive sales and distribution network across over 400 cities in China, leveraging both offline and online channels [4] Group 4: Saint Bella - Saint Bella is a leading postpartum care and recovery group in China, aiming to become a comprehensive family care brand in Asia [6] - The company is recognized as the largest postpartum care group in Asia based on revenue from maternity centers [7] Group 5: Xiangjiang Electric - Xiangjiang Electric is a manufacturer of household appliances in China, primarily operating under ODM/OEM models [8] - The company ranks as the tenth largest in the kitchen small appliances sector in China, with a market share of 0.8% [8] Group 6: Cao Cao Mobility - Cao Cao Mobility is a ride-hailing platform incubated by Geely Group, operating in 136 cities as of December 31, 2024 [10] - The company's total gross transaction value (GTV) reached RMB 12.2 billion in 2023, reflecting a 37.5% increase from 2022 [10] Group 7: Guangzhou Yinnuo Pharmaceutical - Guangzhou Yinnuo Pharmaceutical focuses on developing therapies for diabetes and metabolic diseases, with a core product targeting type 2 diabetes [12] - The company has a pipeline that includes several candidates in clinical and preclinical stages [12] Group 8: Shenzhen Chuangzhixin Lian Technology - Shenzhen Chuangzhixin Lian is a leading provider of metallization interconnect plating materials and key process technologies in China [13] - The company is recognized as the largest domestic supplier of wet process plating materials in the Chinese market [13]