Chinese cosmetics group Chando Global Holdings filed a prospectus with the Hong Kong Stock Exchange on September 29, aiming for a main board listing. Huatai International and UBS are joint sponsors. Founded in 2001, Chando is China’s third-largest domestic beauty group with five brands spanning skincare, makeup, and personal care. Its flagship brand Chando contributes about 95% of revenue and ranks No. 2 by 2024 retail sales among local brands. The group posted revenues of 4.29 billion RMB ($590 million), 4.44 billion RMB ($610 million), and 4.60 billion RMB ($640 million) from 2022 to 2024, with H1 2025 sales up 6.4% YoY to 2.45 billion RMB ($340 million). Pre-IPO, L’Oréal invested 442 million RMB ($62 million).