MAO GEPING (01318) rose more than 4%, gaining 4.04% to HK$90.15 by the time of writing, with a turnover of HK$172 million. Recently, MAO GEPING signed a strategic cooperation framework agreement with L Catterton, the world's largest consumer goods investment firm, with both parties reaching strategic cooperation intentions in areas including global market expansion, acquisitions and strategic investments, further optimization of the capital structure, and talent recruitment and governance. Everbright Securities believes that MAO GEPING and L Catterton complement each other's strengths, taking a further step toward globalization. The firm pointed out that the company continues to strengthen its positioning in the high-end cosmetics market and has demonstrated impressive sales performance this year. According to Magic Mirror data, for the cumulative period from January to November 2025, the combined sales of the MAO GEPING brand on the Taotian/Douyin/JD.com platforms increased by 32% year-on-year, with the three platforms growing by 8%, 50%, and 70% respectively, showing particularly strong performance on the Douyin and JD.com channels. The company has solidified its foundation in the color cosmetics category and is making continuous efforts in the skincare segment, having launched the all-new Snowfield Radiance skincare series in December 2025.