Mao Geping Shares Surge Over 5% in Morning Trading as Double 11 Promotion Continues to Accelerate Company's September GMV Growth

Deep News10-23

Mao Geping (01318) saw its stock price rally during intraday trading, rising 5.01% as of press time to HK$46.94, with a turnover of HK$130 million.

The Double 11 shopping festival has already kicked off this year. According to a research report from CICC, under the premise of an overall stable pricing system, sales performance has generally been better than the market's previous pessimistic expectations, with Mao Geping achieving considerable growth despite relatively small price discounts.

Meanwhile, according to a recent commentary from China Merchants Bank International, Mao Geping's September GMV grew 42.9% year-on-year, higher than the 17.7% growth in August, with Douyin's 64.2% growth serving as the main driver.

Makeup grew 48.4%, while skincare also turned to growth of 24.9%, with growth momentum expanding from the core makeup business to skincare.

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