Chinese cosmetics group Chando Global Holdings, which first filed a prospectus with the Hong Kong Stock Exchange last September, updated its IPO filing Thursday. The company, aiming for a main board listing with Huatai International and UBS as joint sponsors, reported 2025 revenue of 5.32 billion RMB ($772 million), a 15.6% year-over-year increase.
Net profit rebounded to 351 million RMB ($50.9 million), with margin recovering to 6.6%. Founded in 2001, Chando is China’s third-largest domestic beauty group, operating five brands across skincare, makeup, and personal care. Its flagship Chando brand contributes more than 95% of revenue and ranks as China’s second-largest domestic beauty brand by 2024 retail sales.
Online channels now account for nearly 70% of revenue, with more than 42.5 million registered members. Offline, Chando operates more than 64,800 retail points and four flagship stores. The company holds 256 patents and is China’s first domestic beauty brand with proprietary yeast ingredients.
Despite market challenges such as fragmentation and homogenization, Chando’s growth signals a shift from traffic-driven to technology-driven competition.
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