On January 6th, “Maogeping”, a mainland cosmetics company that has been listed on the Hong Kong stock market for just over a year, issued an announcement that has drawn wide market attention.
According to the disclosure, Maogeping Company’s controlling shareholders and executive directors Maogeping, Wang Liqun (Maogeping’s wife), executive director Mao Niping (Maogeping’s sister), Mao Huiping (Maogeping’s sister), Wang Lihua (Wang Liqun’s brother), and Song Hongquang; along with six others and entities under their control plan to reduce their holdings of Maogeping company’s H shares by no more than 17.2 million shares (3.51% of the total issued shares) through bulk trades within six months from the disclosure date.
The reason given in the announcement for the shareholders’ reduction is stated as, “The above shareholders plan to reduce their shareholdings due to their own financial needs, and the proceeds from the reduction will be used for purposes including but not limited to investment in the cosmetics industry chain and improving personal lives.”
Based on a rough calculation with Maogeping company’s closing price of HK$82 per share on January 6th, the total cash amount that the six shareholders may cash out could reach as high as 1.41 billion Hong Kong dollars, approximately around 1.3 billion Chinese yuan.
Maogeping company’s stock price showed an upward trend on January 7th, closing at HK$87.95 per share, with a 7.26% increase, and a total market value of 43.1 billion Hong Kong dollars.
Reported by “21st Century Economic Daily”, Maogeping is the founder and chairman of the company, as well as an executive director; his wife Wang Liqun is an executive director and vice chairman; Maogeping’s sisters Mao Niping and Mao Huiping are executive directors, vice presidents, and senior vice presidents of the company, respectively; and Wang Liqun’s brother Wang Lihua is an executive director and vice president.
Song Hongquang is a key executive of Maogeping company, serving as an executive director, president, and general manager of the MAOGEPING brand business unit, overseeing the overall operations and brand management of the MAOGEPING brand.
The capital market journey of Maogeping company has been full of twists and turns.
In December 2016, Maogeping submitted its A-share prospectus for the first time, intending to apply for an IPO on the Shanghai main board; in September 2017, the status of Maogeping’s first public offering (IPO) application materials changed from “suspended review” to “pre-disclosure update”; in October 2021, Maogeping held its first hearing and received approval from the issuance examination committee, but there has been no substantial progress since then.
In March 2023, due to the implementation of the registration-based listing system, Maogeping resubmitted its application documents to the Shanghai Stock Exchange, but in early January 2024, Maogeping voluntarily withdrew its A-share listing application and, three months later, chose to apply to the Hong Kong Stock Exchange.
On December 10, 2024, after eight years of waiting and four IPO attempts, Maogeping company officially landed on the Hong Kong Stock Exchange with an issue price of HK$29.80 per share and an opening price of HK$47.65 per share.
During the pre-IPO market subscription stage, Maogeping’s IPO garnered a total subscription amount of up to 173.814 billion Hong Kong dollars, making it the “frozen capital king” of the Hong Kong stock market in 2024.
Currently, Maogeping company owns two major cosmetic brands: the flagship brand MAOGEPING and Zhi’ai Zhongsheng (至愛終生), with the majority of its revenue coming from the sales of MAOGEPING products.
According to the prospectus, Maogeping company has shown stable performance in recent years. In its first year of listing in 2024, the company achieved a revenue of 3.885 billion yuan, a year-on-year growth of 34.6%, and a net profit of 881 million yuan, a year-on-year growth of 32.8%.
In the first half of 2025, it recorded a revenue of 2.588 billion yuan, a year-on-year growth of 31.3%, and a net profit of 670 million yuan, a year-on-year growth of 36.1%.
Born in Wenzhou, Zhejiang in July 1964, Maogeping formally started his career as a makeup artist in 1984.
On March 27, 2025, the Hurun Research Institute released the “2025 Hurun Global Rich List”, where the couple Maogeping and Wang Liqun ranked 2,188th with a wealth of 12.5 billion Chinese yuan.
In October 2025, Hurun Rich List released the “2025 Hurun Rich List”, where the couple Maogeping and Wang Liqun, with an income of 20.5 billion, ranked 305th on the list.