Maogeping Beauty, a prominent Chinese high-end beauty group, has passed the listing hearing at the Hong Kong Stock Exchange and is set to begin its pre-IPO roadshow and investor education activities tomorrow. The company is expected to go public in 2024, potentially becoming China’s first domestic “high-end makeup stock.” Founded in 2000 by industry figure Mao Geping, the company has built a strong presence in China’s beauty sector. According to Frost & Sullivan, in 2023, Maogeping ranked eighth in retail sales of high-end beauty brands in China’s department store channels, with an annual revenue of 1.996 billion RMB ($273 million), or 2.9% of the market. It is the only domestic brand in the top 10.