Shangmei

About Shangmei

Shanghai Chicmax Cosmetic Co., Ltd. operates as a multi-brand cosmetics company with a focus on the research, development, manufacturing, and sale of a wide array of beauty products. The firm was founded in 2002 by Mr. Lyu Yixiong, who began his venture in the cosmetics industry in Shanghai and serves as the current Chairman and CEO.

The company's business model is centered around a multi-brand strategy, which it has pursued since its inception. This approach has enabled Chicmax to launch several successful brands catering to different market segments. Its main brands include KANS, a skincare line launched in 2003 focused on "scientific anti-aging" for Asian women; One Leaf, a botanical skincare brand established in 2014; and Baby Elephant, a maternity and childcare product brand started in 2015. The company has also expanded its portfolio with newer brands like newpage, ARMIYO, TAZU, and KYOCA, targeting niches such as functional skincare for sensitive baby skin and high-end anti-aging.

Revenue is primarily generated from the manufacture and sale of these cosmetic products through a dual-channel strategy that combines online e-commerce with offline retail distribution. This allows the company to engage with a broad consumer base. For the full year 2023, the company reported revenue of RMB 4.19 billion, a significant increase from RMB 2.68 billion in 2022. This growth continued into 2024, with reported revenues of RMB 6.79 billion. The majority of this revenue growth is attributed to the strong performance of its KANS brand.

A key milestone in the company's history was its public listing on the Main Board of the Hong Kong Stock Exchange (HKEX) on December 22, 2022. The initial public offering was intended to raise capital for brand building, enhancing R&D capabilities, and strengthening production and supply chain infrastructure. Chicmax has established a significant operational footprint, including two major research centers and supply chains in China and Japan, positioning itself with a global R&D perspective. This commitment to R&D is demonstrated by its development of proprietary ingredients like Tiracle and AGSE, with self-developed products accounting for a high percentage of revenue.