MAO GEPING stock surged as much as 10% a record high of HKD101.6 as the Shenzhen Stock Exchange added the company to the southbound Stock Connect.

The Hangzhou-based company was founded by make-up artist Mao Geping in 2000. Mao sought to promote Chinese make-up artistry and aesthetics globally. The brand’s products often depict designs that mimic classical Chinese paintings.

The company’s fusion of traditional eastern aesthetics with modern beauty standards has been very popular among Chinese consumers.

Today, Mao Geping is the only domestic player among the top 10 premium beauty groups in China, ranking seventh based on total retail sales in 2023 with a market share of 1.8 per cent, according to Frost & Sullivan.

The company is a leader in the premium beauty market in China, an industry that was valued at US$9.9 billion in 2023. That is expected to jump to US$16.7 billion by 2028, according to market researcher Euromonitor International.