New Stock News | Zhèng Pǐn Group Files for Listing on Hong Kong Stock Exchange
Zhitong Caijing APP has learned that Zheng Pin Group Limited has filed an application to list on the main board of the Hong Kong Stock Exchange, with Zhibo Capital Limited serving as its sole sponsor.
Zheng Pin Group's prospectus shows that the group mainly develops, sells, and markets healthcare and beauty supplements and products in Hong Kong. The group outsources production to suppliers (including manufacturers) and primarily distributes its products through various retail channels under its own brands and third-party brands.
According to Frost & Sullivan data, as of 2024, the group ranked first in terms of retail value for healthcare and beauty supplements and products in Hong Kong, with a market share of approximately 1.6%.
In the local healthcare and beauty supplements and products market, the group has a diversified product portfolio covering various age groups and focuses on related healthcare supplements, joint pain relief products, and external analgesic products.
According to Frost & Sullivan data, (i) as of 2024, the group ranked first in terms of retail value for healthcare and beauty supplements and products related to deer antler velvet and products in Hong Kong, with a market share of approximately 29.4%; and (ii) its self-branded product "炎痛消" under the joint pain relief and external analgesic products is one of the top five best-selling joint pain relief supplements and products in 2024 at various retail channels.
As of the latest practicable date, the group operated six self-owned brands, including (a) "正品"; (b) "炎痛消"; (c) "Organicpharm"; (d) "日药堂"; (e) "维再生"; and (f) "Profix", as well as six third-party brands, including (a) "iPro+" and (b) "Boiron".
Zheng Pin Group's products mainly fall into two categories: (i) healthcare supplements and products; and (ii) beauty supplements and products. In the past performance record period, the sales revenue of healthcare and beauty supplements and products accounted for approximately 98.8% of the group's total income.
According to Frost & Sullivan data, the market competition in the group's healthcare and beauty supplements and products is intense and fragmented. As of 2024, Hong Kong's healthcare and beauty supplements and products market competition was relatively fierce, with a combined market share of approximately 55.3% among the top ten suppliers.
Financially, as of 2023, 2024, and 2025, the group achieved revenue of approximately HK$43 million, HK$110 million, and HK$130 million respectively; and year-end surplus and comprehensive income were approximately HK$113.1 million, HK$354.8 million, and HK$362.6 million respectively.
According to Zheng Pin Group's prospectus, the group faces the risk of relying on dairy companies to sell products to end customers and may not be able to maintain relationships with dairy companies or expand its wholesale network through other means, which could have a significant adverse impact on its business.