Lei Jianping on April 8
Mengjinyuan Gold & Jewelry Group Co., Ltd. (hereinafter referred to as "Mengjinyuan") has updated its prospectus to prepare for listing on the Hong Kong Stock Exchange.
Mengjinyuan's IPO filing has been approved, which means that Mengjinyuan has obtained the key to listing.
Mengjinyuan will submit a prospectus in 2023 to prepare for listing on the Hong Kong Stock Exchange. Actor Jiang Shuying is the brand spokesperson of Mengjinyuan, and actor Haiqing is also a shareholder of Mengjinyuan, holding 1.53% of the shares.
The annual revenue is 20.2 billion
Mengjinyuan focuses on the development of the gold and jewelry industry, and mainly sells products to customers through an offline sales network composed of franchised stores and self-operated stores.
In addition, Mengjinyuan also provides products to customers through online sales on e-commerce platforms.
In 2021, 2022 and 2023, the revenue of Mengjinyuan will be 16.871 billion yuan, 15.724 billion yuan and 20.209 billion yuan respectively, the gross profit will be 536 million yuan, 759 million yuan and 1.077 billion yuan respectively, and the profit during the period will be 224 million yuan, 181 million yuan and 233 million yuan respectively.
In 2023, the revenue from this segment was RMB19.877 billion, RMB226 million (1.1%) from karat gold jewellery, diamond-encrusted jewellery and other products, and RMB106 million, or 0.5%, from services.
As of December 31, 2023, Mengjinyuan had cash and cash equivalents of $156 million.
Haiqing is a shareholder
The executive directors of Mengjinyuan are Wang Zhongshan, Ms. Zhang Xiuqin, Ms. Jiang Liying and Wang Zegang, and the independent non-executive directors are Wang Gongyong, Shanali, Huang Fangliang and Huang Liechu.
In September 2020, Mengjinyuan submitted a prospectus to be listed on the main board of the Shenzhen Stock Exchange, but the application was not approved, and in December 2022, Mengjinyuan was preparing to list on the A-share market again, but did not submit an A-share listing application for the second time, and terminated the appointment of CITIC Securities as the sponsor of the second A-share application in September 2023.
However, in August 2022, CITIC Securities Investment subscribed for 4,166,666 shares in cash at RMB12.00 per share.
Before the IPO, Wang Zhongshan held 28.27% of the shares, Zhang Xiuqin held 26.19% of the shares, Tianjin Yuan Jinmeng held 17.46% of the shares, Jinmeng Partners held 9.6% of the shares, Tianjin Haikai Xinchuang held 4.37% of the shares, Jinyuan Partners and Jinlong Partners held 3.93% of the shares respectively, CITIC Securities Investment held 1.82% of the shares, Zhao Duxue held 1.75% of the shares, Huang Yi held 1.53% of the shares, Zhang Yizhen held 1% of the shares, and Zhang Jianjun held 0.15% of the shares.
Wang Zhongshan, Ms. Zhang Xiuqin, Wang Guoxin, Ms. Wang Na, Jinmeng Partnership, Jinyuan Partnership, Jinlong Partnership and Tianjin Garden Jinmeng constitute the controlling shareholder group of Mengjinyuan. Ms. Zhang Xiuqin is the spouse of Wang Zhongshan. Wang Guoxin is the son of Mr. and Mrs. Wang Zhongshan, and Ms. Wang Na is the daughter of Mr. and Mrs. Wang Zhongshan.
Ms. Huang Yi (Haiqing) is a Chinese actress who graduated from the Performance Department of Beijing Film Academy. He became acquainted with Mengjinyuan and became a shareholder of Mengjinyuan as the company's corporate image spokesperson from 2013 to 2020.
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