19 April 2021
On March 25, 2021, Botanee Group ("Botanee" or "the company") was listed on the Growth Enterprise Market of the Shenzhen Stock Exchange, stock code: 300957. Botanee issued 63.6 million A-share new shares at a price of RMB47.33 per share, raising RMB 3.01 billion. JunHe acted as legal counsel for the company. On the first day of listing, Botanee opened 272% higher, at a share price temporarily of RMB 176.11. This exceeded the average value of the positioning range of securities companies, with a total market value of nearly RMB 75 billion.
Botanee is a professional cosmetics manufacturer with the "Winona" brand as its core. Winona focuses on the application of natural plant active ingredients and provides mild and professional skin care products, focusing on sensitive skin. It has online integrated sales channels and has established the industry benchmark for sensitive skin products. With high product quality products and driven by the increased consumption of domestic products, Dr. Guo Zhenyu has led the Botanee team in its successful position in the cosmetics industry. In 2018 and 2019, Botanee enjoyed excellent online sales. Winona’s official flagship store ranked ninth in the Tmall’s sales volume on Alibaba’s Singles Day in the main categories of skin care / body / essential oils. It ranked third and fourth overall in in Chinese domestic products. From 2018 to 2020, Winona won the Tmall gold makeup award for three consecutive years. In 2019, Winona was ranked as "No.1 in the sensitive skin care category" by the industry authoritative magazine "Cosmetics Magazine". According to Euromonitor’s statistics, Winona ranked No.1 in the domestic skin care market in 2019.
JunHe acted as the lawyer for the issuer of this project, providing whole-process legal services. JunHe’s team assisted the company in sorting out key legal issues in the complete restructuring and establishment of the joint-stock company. It provided pre-listing guidance and applications for listing and replied to feedback from the Shenzhen Stock Exchange and the China Securities Regulatory Commission.
Coinciding with the reform of the registration system on the growth enterprise market, JunHe’s team assisted the company in making their application as soon as possible after the formal implementation of the registration system of the Growth Enterprise Market. This makes Botanee the first company to make an application and go public since the implementation of the registration system of the Growth Enterprise Market.
JunHe’s team assisted the company in making efficient replies to the Shenzhen Stock Exchange and the China Securities Regulatory Commission. At the time of submitting to the CSRC for registration, the CSRC issued new rules requiring IPO projects to conduct comprehensive inspection of the shareholders of the issuers. During the busy Spring Festival vacation, the project team overcame many difficulties to obtain shareholders information and reviewed the information of hundreds of entities within a very short timeframe. JunHe’s team summarized and sorted out nearly 50,000 word verification reports, and successfully passed the audit. The JunHe team has been unanimously praised by the company and other intermediaries for its efficient, rigorous and steady working style, as well as its meticulous and professional service attitude.
For further information, please contact:
QU, Huiqing, Partner, Jun He
quhq@junhe.com
