GXG Parent Enterprise Listing In Hongkong Is No Suspense. The First Day Break 2018 Stores 66.

On the first day of the listing of Ningbo menswear brand GXG parent company 1718.HK, there was no suspense. On Friday, the company's stock price dropped by 4.56% to HK $4.19.

On Monday, mosang group opened 1.37% HK $4.45, then plunged sharply 6.61%, and the lowest value was HK $4.10 in early trading.

In mid May, Ningbo's official stock offering was not favored by the market. The price of HK $4.39 was 6.2% lower than that of HK $4.68 to HK $5.88, which should be about HK $4 billion 170 million 500 thousand.

Its 10% public offering rate is also seriously insufficient, and only 9 million 559 thousand shares are subscribed at the end, and the subscription rate is about 0.48 times.

However, the company received 44 million 783 thousand cornerstone investments from the brand operation owners and owner related partners Wanda investment and sand boat, and two companies subscribed for 35 million 671 thousand and 500 shares and 9 million 111 thousand and 500 shares respectively.

About 805 million 700 thousand Hong Kong dollars, about 45% of which will be used to repay its existing debts and reduce its financial costs.

Local retail observation (micro signal: retailinsider) and no fashion data show that by the end of 2018, the total liabilities of Ningbo company were 3 billion 78 million 700 thousand yuan, a slight decrease of 3.6% compared with 3 billion 193 million 400 thousand yuan at the end of 2017, while the total liabilities of the company at the end of 2016 were 1 billion 439 million 300 thousand yuan.

Mosang Group intends to raise 15% of IPO's fund-raising amount for investment and acquisition to expand its brand portfolio; the 10% amount is used to upgrade stores; 20% is used to build intelligent logistics system; the remaining 10% is used for operation and other purposes.

The annual income of mousse group was 3 billion 787 million yuan, an increase of 7.9% compared with 351 million yuan in 2017. Gross profit margin fell 40 basis points to 53.7% during the period, and net profit fell 11.2%, from 421 million 800 thousand yuan to 374 million 500 thousand yuan. After adjustment, the net profit was 482 million 500 thousand yuan, which was 7% more than the 450 million 900 thousand yuan in 2017.

In 2018, about 35.7% of mousse group or 1 billion 350 million 300 thousand yuan of revenue came from online, accounting for a very high proportion, which was significantly higher than the average level of the industry. 938 million 500 thousand yuan from online revenue came from Alibaba's Tmall.com Tmall and Taobao.com Taobao platform, and 410 million 100 thousand yuan came from other platforms such as vip.com (NYSE:VIPS) and 1 million 800 thousand WeChat small programs from Tencent (NYSE:BABA).

By the end of 2018, the Ningbo company had operated 2250 outlets, and closed 66 rooms during the period.

Although L Catterton Asia, a star consumer fund, is a major shareholder, the fund's investment in China, especially in the clothing sector, has failed.

As the world's largest luxury group LVMH SE (MC.PA) Lu Wei Mun Xuan and its chairman, CEO Bernard Arnault's family holding company Groupe Arnault and the United States fund company Catterton three party joint venture consumer fund L Catterton's Asian branch, the fund has also invested in the Xiamen (Group), Guangdong, China (group) Limited by Share Ltd, Xin he (Xiamen) Garments Co., Ltd., and WAN Mei Biotechnology Co., Ltd., but so far there is no whole body retreat.

Guangdong pill Mei finally passed smoothly after the twists and turns at the end of April. Hekey China submitted the listing application at the end of 2017, but in mid 2 this year, the company has applied for a termination of the examination. If the Hsin ho shares were listed at the beginning of 2018, it was submitted to the IPO again at the beginning of this month.

After the official listing, L Catterton Asia throws about 364 million 100 thousand shares or 38.32% issued shares of the mosang group, the largest shareholder of the company.

On Monday's closing, Mulsanne Group Holding Limited (1718.HK) mosang Group Holdings Limited reported HK $4.50, a 2.51% gain, with a turnover of HK $32 million 49 thousand and 200, corresponding to the market value of HK $4 billion 275 million.