Recently, "Unicorn Early Knowledge" reported that Mao Geping has passed the listing hearing of the Hong Kong Stock Exchange and plans to launch a pre-roadshow and investor education activities on November 21, and launch an IPO in December, with a target transaction size of approximately US$300 million.
Judging from the financial report, Mao Geping has extremely strong growth list of latvia whatsapp phone numbers , with a compound annual growth rate of revenue of 35.3% from 2021 to 2023 and a compound annual growth rate of net profit of 41.6%. He does have the confidence to open the door to the capital market.
However, Mao Geping's IPO journey was not smooth. As early as 2016, Mao Geping began to impact the A-share market, and then failed three times. In April 2024, Mao Geping switched to the Hong Kong stock market, and failed again in the first battle, and finally passed the hearing in the second battle.
The reason why the capital market is so cautious about Mao Geping is not only because he is highly dependent on his personal IP and has great uncertainty, but also because he lacks a deep business moat and relies heavily on the "scissors gap" of offline counters to generate revenue. As competition in the beauty market gradually intensifies, it may be difficult for Mao Geping to continue his "ferocious growth" in the future.
1. Seizing the dividends of self-media, Mao Geping's company began to take off
In stark contrast to the rapid growth of performance today, Mao Geping's performance was mediocre ten years ago. The prospectus shows that from 2014 to 2016, Mao Geping's revenue was 279 million yuan, 321 million yuan, and 343 million yuan, respectively, with a compound annual growth rate of only 7.13%, and his net profit was 47 million yuan, 55 million yuan, and 53 million yuan, respectively, with a compound annual growth rate of only 4.09%.
