After waiting for five years, Mao Geping Cosmetics Company is finally going public.
Mao Geping Cosmetics began to implement IPO plans in 2016, which was suspended in 2017. On October 21, 2021, the official website of the China Securities Regulatory Commission disclosed that Mao Geping Cosmetics Co., Ltd. (the first offering) was approved, which means that the Mao Geping brand is only one step away from the success of listing. If the listing is successful this time, Mao Geping makeup brand is expected to become the first stock of makeup with the name of "the light of domestic products".
As a makeup artist, Mao Geping is a household name. He switched from a Yue opera actor, and since 1984, He has been praised for his exquisite makeup skills. What made him famous throughout the country was that in the "Wu Zetian" TV series, Liu Xiaoqing's realistic makeup spanning fifteen to eighty years old was created by Mao Geping. Mao Geping himself became a "national makeup artist" and won the titles of "magic makeup artist" and "makeup master".
Since 1998, he has successively founded Mao Geping Makeup Art Co., Ltd. and Image Design Art School. Subsequently, hangzhou Huidu Cosmetics Co., Ltd. was founded, which is the Mao Geping Cosmetics Company that the public is familiar with. At the same time, he also launched professional works such as "Mao Geping Makeup Professional Art" and founded the makeup brand "MGPIN" named after himself.
According to the prospectus, Mao Geping Cosmetics Co., Ltd., formerly known as Hangzhou Huidu Cosmetics Co., Ltd., owns two major brands, "MGPIN" and "Beloved For Life". Among them, "MGPIN" focuses on high-end brands, the audience group is urban women, and the sales model is direct sales at counters; "Love for Life" is mainly based on distribution channels, trying to open up the consumer market in second- and third-tier cities.
The actual controllers of Mao Geping Cosmetics Company are Mao Geping and Wang Liqun. According to the prospectus, Mao Geping and his wife directly held 53.71% of Mao Geping's shares, and indirectly held 1.74% through Two Companies, Dijing Investment and Jiachi Investment. The Mao Geping brand intends to apply for funds raised 512 million yuan, and once the listing is successful, the couple's family will exceed 283 million yuan.
(Source Prospectus)
The latest prospectus of Mao Geping Cosmetics Company was disclosed on September 11, 2017, and the data after 2018 has not yet been released. From 2014 to June 2017, the operating income was 280 million yuan, 321 million yuan, 343 million yuan and 201 million yuan respectively, of which the "MGPIN" series accounted for 70% of the revenue composition, and the "Beloved Life" accounted for 20%, even so, the gross profit margin of Mao Geping Cosmetics Company reached a staggering 85%, leading other brands in the same industry.
It is worth mentioning that although Mao Geping Cosmetics Company has a considerable gross profit margin, its research and development expenses are far behind the same industry level. The prospectus shows that the company's R&D expenses as a proportion of operating income have been floating at 1%, and the low investment in R&D expenses means that Mao Geping's products are slow to update.
Since the popularity of e-commerce platforms in 2020, Mao Geping has also made full use of his personal influence for online channel marketing. Cooperate with Bilibili and Little Red Book platform bloggers to release makeup teaching videos to increase visibility. At the same time, Mao Geping also walked into Wei Ya's live broadcast room. In the just-concluded Double Eleven pre-sale activity, Mao Geping's three products two-color concealer, foundation cream and honey powder have achieved good results, of which the two-color concealer has sold 80,000, becoming a well-deserved "small hit".
(Author 丨Shijie Zhou Yihang Editor 丨Liao Ying)