"I'm a little nervous and my makeup isn't very good." This was the opening statement of national treasure-level makeup artist Mao Geping when he just walked into the Viya Double Eleven live broadcast room. He had just finished showing off the magical "tear trough disappearing tec

"I'm a little nervous, my makeup isn't very good." This was the opening statement of national treasure-level makeup artist Mao Geping when he first walked into the Viya Double Eleven live broadcast room. He had just finished demonstrating the magical "tear trough disappearing technique" in the last second, and the next Within seconds, a hot search was posted on Weibo - "Mao Geping is not good at makeup".

Makeup artist Mao Geping became famous overnight thanks to the series of looks from young girl to old age for the heroine Liu Xiaoqing in the TV series "Wu Zetian". After becoming famous, Mao Geping also began to break away from the position of a professional makeup artist and create his own cosmetics brand. And established Mao Geping Cosmetics Co., Ltd. (referred to as "Mao Geping Co., Ltd.").

On October 21, the IPO of Mao Geping Co., Ltd. successfully passed, becoming the first domestic makeup artist to create his own makeup stock. Looking back, the road to listing Mao Geping shares is quite long. As early as 2016, Mao Geping Co., Ltd. submitted a prospectus to seek an A-share IPO. After updating the prospectus at the end of 2017, the IPO process came to a standstill and there has been no news. Five years later, until recently, the official website of the China Securities Regulatory Commission showed that Mao Geping’s first matter was to be held at the meeting on October 21.

According to the prospectus disclosed in 2017, Mao Geping Co., Ltd. plans to raise approximately 512 million yuan. The raised funds will be used to invest in channel construction projects, R&D center construction projects, image design training institution construction projects, and to supplement working capital.

The popular makeup artist in the TV series

Mao Geping's fame is inseparable from the TV series "Wu Zetian". At that time, Liu Xiaoqing played Wu Zetian from the age of 15 to 80. With her amazing "head-changing" makeup skills, Liu Xiaoqing not only ushered in the second career of Liu Xiaoqing, but also made Liu Xiaoqing's makeup artist Mao Geping famous.

After becoming famous, Mao Geping broke away from the position of a professional makeup artist and created his own cosmetics brand. In July 2000, Hangzhou Huidu, the predecessor of Mao Geping Cosmetics Company, was established; in 2015, the company was renamed Mao Geping Cosmetics Co., Ltd.

In recent years, with the rise of the Internet celebrity economy, Mao Geping's brand has begun to sink into the careers of young people. In 2020, Mao Geping has repeatedly become popular because of his makeup changes for the top Internet celebrity "Midnight Teacher Xu" and Zhang Dayi's makeup. After searching, there was a whirlwind of "Send hair to Mao Geping" across the Internet.

The prospectus shows that Mao Geping is mainly engaged in the research and development, production, sales and makeup skills training of makeup and skin care products. It owns two major brands: "MGPIN" and "Love for Life". Among them, MAOGEPING is named after the founder Mao Geping and is the company's core brand. It is positioned as a high-end brand and focuses on the direct sales model of department store counters; while Zhiai Lifelong focuses on the distribution model and targets consumers in second- and third-tier cities.

In the makeup skills training business, Mao Geping Co., Ltd. has gradually established training institutions in nine places including Hangzhou, Beijing, Shanghai, Chengdu, Chongqing, Wuhan, Zhengzhou, Shenzhen, and Qingdao since its establishment. This business has become one of Mao Geping Co., Ltd.’s products in addition to color cosmetics, Another growth line besides skin care product sales. In terms of the equity structure of

, founder and chairman Mao Geping holds 42.63% of the company's shares, and his wife Wang Liqun holds 11.08% of the shares. The couple indirectly holds 1.74% of Mao Geping's shares through controlling Dijing Investment and Jiachi Investment, totaling He holds 55.45% of the company's shares and is the company's controlling shareholder and actual controller.

Since the prospectus of Mao Geping Shares has not been updated since September 2017, the financial data also stops at that year. From 2014 to the first half of 2017, Mao Geping Co., Ltd. achieved revenue of 279 million yuan, 321 million yuan, 343 million yuan, and 201 million yuan respectively, and net profits of 47.1126 million yuan, 54.6247 million yuan, 53.3197 million yuan, and 35.6197 million yuan respectively. , the overall performance showed a steady and rising trend.

But Tianyancha’s comprehensive industrial and commercial data shows the performance overview of Mao Geping shares after 2017. Data shows that from 2018 to 2020, Mao Geping Co., Ltd. achieved net profits of 82 million yuan, 126 million yuan and 175 million yuan respectively, and its performance maintained a growth momentum.

Another media found through the National Enterprise Credit Information Publicity System that the company’s revenue from 2018 to 2020 was 389 million yuan, 555 million yuan, and 729 million yuan respectively, with growth rates of 28.08%, 42.78%, and 31.34% respectively. %.

From the perspective of main business and products, the MGPIN brand is the main part of Mao Geping's revenue source. From 2014 to the first half of 2017, it achieved revenue of 192 million yuan, 214 million yuan, 247 million yuan and 142 million yuan respectively, accounting for The total revenue was 71.61%, 69.23%, 74.16% and 72.80% respectively.

Domestic beauty products and new products emerge

Mao Geping Co., Ltd. does not build its own production facilities, and the production process mainly relies on outsourcing processing. There are two modes of cooperation between Mao Geping Co., Ltd. and outsourced processors: First, the company completes the purchase of raw materials independently and then delivers them to outsourced processors, who process and produce finished products according to the company's requirements. Second, according to the company's requirements, the outsourcing processor purchases raw materials. At the same time, the company purchases packaging materials and sells them to the outsourcing processor. After the processor completes production, the finished product is delivered to the company. The

prospectus shows that among the five major outsourced manufacturers disclosed by Mao Geping Co., Ltd., there are many international big-name foundries such as Cosmax Cosmetics Co., Ltd., Yingteri Technology Co., Ltd., and Shanghai Manuma Cosmetics Co., Ltd. Among them, Yingteri has been the largest supplier of Mao Geping Co., Ltd. from 2014 to 2017.

It is understood that Yiteli, as the world's top OEM company in the field of cosmetics, represents the world's top technology in cosmetics. It has 11 R&D centers and 15 production bases in 9 countries in North America, South America, Europe and Asia. Cooperative brands include La Mer, Chanel, L'Oreal, Estee Lauder, etc. As of 2020, Yingteri serves more than 500 luxury goods groups around the world. In other words, Yingteri is behind almost all luxury and first-line brand cosmetics series currently on the market.

As one of the high-end representatives of China’s cosmetics industry, Mao Geping is at the forefront of the beauty market. The "China Cosmetics Industry Operation Data Monitoring Bi-monthly Report from May to June 2021" released by iiMedia Consulting shows that Mao Geping launched the light moisturizing foundation and two-color concealer makeup set on March 3 this year, and Mao Geping's two-color concealer was launched on May 25. , the light and shadow shaping highlighter powder will be launched on July 15th. During the "618" event from June 1 to June 18, Mao Geping's transaction volume increased by 263% year-on-year. Among them, Mao Geping's brand liquid foundation products performed well, with the cumulative transaction volume within 18 days increasing by 125% year-on-year.

But five years after its listing, new domestic beauty brands are emerging, and Mao Geping Co., Ltd. faces considerable competition. The latest data from Huaan Securities shows that the top 10 sales of cosmetics brands in September this year include 3 domestic cosmetics brands and 7 international brands. Ranked by sales, the top three domestic brands are Perfect Diary, Huaxizi, and COLORKEY. The sales of the Perfect Diary Taobao platform reached 175 million yuan, and the sales volume reached 2.36 million pieces. Huaxizi’s cosmetics Taobao platform sales reached 167 million yuan in September, with sales reaching 1.1 million pieces.