Group 1 - The core viewpoint of the news is that Ying Tong Holdings (06883) has officially listed, pricing each share at HKD 2.88, with a total issuance of 333.4 million shares, resulting in a net proceeds of approximately HKD 883 million [1] - As of the report, the stock has dropped by 10.42%, trading at HKD 2.58, with a transaction volume of HKD 114 million [1] - Ying Tong Holdings is the largest perfume group in China (including Hong Kong and Macau) after the brand owner fragrance group, focusing on sales and distribution of products sourced from third-party brand licensors [1] Group 2 - The company has a comprehensive sales and distribution network covering a wide range of products including perfumes, skincare, cosmetics, personal care products, eyewear, and home fragrances across over 400 cities in China (including Hong Kong and Macau) [2] - As of March 31, 2025, the company's products are sold through more than 100 directly operated offline points of sale (POS) and over 8,000 POS operated by retail customers [2] - In addition to offline sales channels, the company also sells products online through well-known e-commerce platforms and social media platforms in China (including Hong Kong and Macau) [2]