Changes in Hong Kong stocks 丨 Caoji Group opened 25% higher on the first day of listing
Caoji Group (2593.HK), a Hong Kong supplier of health products and beauty and skin care products, opened 25.07% higher on its first day of listing at HK$4.69, with pre-market transactions exceeding HK$80 million. Caoji Group's predecessor was New Yingmingx. It was founded in 1999 by TVB Hong Kong star Guo Jinan and his sister Guo Zhiyin, together with an independent third party. The prospectus shows that Caoji Group is a diversified supplier of health care products, beauty and skin care products that has been rooted in Hong Kong for more than 20 years. It currently operates a total of 8 private brands. From 2021 to 2023, the company's revenue grew steadily, at HK$189 million, HK$208 million and HK$251 million respectively, with a compound annual growth rate of approximately 15.4%; net profit was HK$23.2 million, HK$28 million and HK$39.5 million respectively, with a compound annual growth rate of approximately 30.5%; gross profit margins were 72%, 71.9% and 73.8% respectively. (Gelonghui)
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