Eternal Beauty Holdings, known as “China's first perfume stock,” listed on the Hong Kong Stock Exchange on June 26, but saw its share price fall 16.67% on the first day, closing at HK$2.40 ($0.31), below its IPO price of HK$2.88 ($0.37). The company raised HK$960 million ($123 million) with net proceeds of HK$883 million ($113 million). Founded in 1987, Eternal Beauty distributes 72 international brands including Hermès and Laura Mercier. In FY2025, it reported revenue of HK$2.08 billion ($267 million) and net profit of HK$227 million ($29 million), with over 80% of sales from perfume.