GXG Parent Ningbo Mousse Group Has A Market Value Of About 3 Billion 700 Million.

In May 27th, GXG, the domestic menswear brand parent company 1817.HK, was listed on the HKEx.

The price of the group was HK $4.39, closing price of HK $4.5, up 2.51%, and its market value was HK $4 billion 275 million (about 3 billion 750 million RMB).

According to information disclosure, this group sells 200 million shares worldwide, of which 180 million are listed on the international market, with a fund-raising rate of HK $1 billion 176 million.

It is understood that the mousse group is currently only one of the Hong Kong Stock Exchange listed on the new retail concept, known as the new retail "first share".

Moshang group is rooted in the field of fashion men's wear. While operating 2250 line shops, it also covers online channels such as Tmall, Taobao, WeChat applet, vip.com and so on. It has many brands such as GXG, GXG jeans, gxg.kids, Yatlas, 2XU and so on.

Compared with other domestic listed men's clothing brands, the mousse group, founded in 2007, is considered a young member.

It was born in Ningbo, focusing on men's clothing.

In fact, during the offering phase, the stock of mousse group was favored by investment institutions. Wanda Group subsidiary, Wanda investment (Hongkong) Limited and one of China's leading super ole group, bought the shares of HK $20 million and HK $40 million respectively.

According to the prospectus, in recent years, Mu Shang Group's operating income and net profit grew steadily.

In the 2016-2018 year, the operating income of Mu Shang Group was 3 billion 18 million yuan, 3 billion 510 million yuan and 3 billion 787 million yuan respectively, and the annual compound growth rate was about 12%.

The adjusted net profit was 391 million yuan, 451 million yuan and 483 million yuan respectively, with a compound annual growth rate of 11.1%.

Looking back on its development experience in recent years, it is easy to find that whether it is offline store revenue or online penetration, Mu Shang Group has given a good answer.

In line with retail income, the company ranked first, and the penetration rate reached 36% nationwide, which was higher than the 21.5% national average in the same period.

Mu Shang has 2265 retail outlets throughout the country.

Yu Yong, executive director and chief executive officer of the company, said that stores are mainly concentrated in 123 line cities, and will advance the pace of opening the main brand in four or five line cities in the future, and plan to increase 100 stores next year.

In addition, the company is hatching an online women's wear brand, plans to purchase other women's clothing brand, to make up for the lack of brand structure in the women's clothing branch.

But GXG also has a worrying side.

In May 22nd, mosang group lowered its issue price to HK $4.39, less than the lower limit of the bidding price range of about 6.20%.

The reason is that as of May 19th, a total of HK $7 million 140 thousand of development funds, far from the amount of fund-raising.

After the issue price was lowered, the net proceeds from the offering were reduced to about HK $805 million 700 thousand, and the market value of the shares was reduced to about HK $4 billion 170 million 500 thousand.