On June 26, 2025, Eternal Beauty Holdings Limited ("Eternal Holdings" or the "Issuer", stock code: 6883.HK) was officially listed on the Main Board of the Hong Kong Stock Exchange. Eternal Holdings issued 333,400,000 shares at a price of HKD 2.88 per share in this global offering. Each lot consisted of 1,000 shares and approximately HKD 960 million was raised in total.
Dating back to 1987, Eternal Holdings was a pioneer in introducing imported perfume products to mainland China. With its headquarters in Hong Kong, Eternal Holdings is the largest perfume group in China in terms of 2023 retail sales. Perfume groups owning brands primarily operate their own brands and lead brand positioning, marketing strategy formulation, research and development, manufacturing, and brand licensing. In contrast, Eternal Holdings focuses on the sales and distribution of products procured from third-party brand licensors and conducts market deployment for these licensors, such as brand management and customized market entry and expansion. Eternal Holdings boasts a large and diverse brand portfolio, covering perfume, cosmetics, skincare, personal care, eyewear, and home fragrances. Eternal Holdings has provided product distribution and market expansion services for 72 external brands, including internationally renowned names such as Hermès, Van Cleef & Arpels, Chopard, Albion and Laura Mercier. Eternal Holdings has also established its own perfume and eyewear brand, Santa Monica. As of March 31, 2025, the Issuer has over 8,000 self-operated or third-party-operated offline sales outlets in more than 400 cities, creating an extensive and hard-to-replicate omni-channel sales network.
JunHe acted as the Chinese legal counsel to the joint sponsors and underwriters in this project. We conducted domestic legal due diligence, reviewed and revised the prospectus and the other listing-related application and offering documents, and closely cooperated with all parties to prepare the complete set of legal documents to be submitted to the China Securities Regulatory Commission (CSRC) for overseas listing filing. JunHe also responded to PRC law-related issues raised by the CSRC, the Hong Kong Stock Exchange and the Hong Kong Securities and Futures Commission, and handled other domestic legal matters related to the Hong Kong listing. Ultimately, JunHe helped Eternal Holdings successfully complete the CSRC filing and obtain approval from the Hong Kong Stock Exchange for this listing application. With its rigorous legal services and detail-oriented and professional expertise, JunHe’s team was recognized and trusted by the Issuer, the joint sponsors and the other intermediaries.
JunHe partner Joe Wan led the team in this project. JunHe partner XIONG, Jingui (Alice) was responsible for the specific work and partner YI, Yisong provided support for the internal control.