---
title: "New Stock News | Authentic Brands Holdings submitted an application to the Hong Kong Stock Exchange, ranking first in retail value for deer-related health supplements and products in Hong Kong in 2024"
description: "Zhengpin Holdings Limited has submitted a listing application to the Hong Kong Stock Exchange, planning to go public in Hong Kong in 2024. The company focuses on the development and sales of health an"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/250668570.md"
published_at: "2025-07-29T22:49:04.000Z"
---

# New Stock News | Authentic Brands Holdings submitted an application to the Hong Kong Stock Exchange, ranking first in retail value for deer-related health supplements and products in Hong Kong in 2024

> Zhengpin Holdings Limited has submitted a listing application to the Hong Kong Stock Exchange, planning to go public in Hong Kong in 2024. The company focuses on the development and sales of health and beauty supplements, with a market share of approximately 1.6%. According to Frost & Sullivan, Zhengpin Holdings ranks first in the retail value of deer-related health supplements in 2024, with a market share of 29.4%. Its own brand "Yantongxiao" is one of the best-selling products in Mannings retail stores

According to the Hong Kong Stock Exchange's disclosure on July 29, Zhengpin Holdings Limited has submitted a listing application to the main board of the Hong Kong Stock Exchange, with Hongbo Capital Limited as its sole sponsor.

![68b5f25ced4c15bd3e6a9513408d2fa.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20250730/1753828865858281.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg)

The prospectus shows that Zhengpin Holdings is primarily engaged in the development, sales, marketing, and distribution of health and beauty supplements and products in Hong Kong. The group outsources the production of its products to suppliers (including manufacturers) and mainly distributes its products through Mannings retail stores in Hong Kong under the group's own brands and third-party brands. According to Frost & Sullivan, based on the retail value of health and beauty supplements and products in 2024, the group ranks seventh among all local health and beauty supplement and product suppliers in Hong Kong, with a market share of approximately 1.6%.

In the local health and beauty supplement and product market, the group has a diversified product portfolio that meets the needs of men, women, and children of all ages, focusing on the niche market of deer-related health supplements, joint and pain relief products, and topical pain relief products.

According to Frost & Sullivan, (i) the group ranks first in the retail value of deer-related health supplements and products in Hong Kong in 2024, with a market share of approximately 29.4%; and (ii) the group's own brand "Yantongxiao" includes joint and pain relief products and topical pain relief products, which are among the top five best-selling joint and pain relief supplements and products in Mannings retail stores in 2024. As of the last practical date, the group operates a total of six own brands, namely (a) "Zhengpin"; (b) "Yantongxiao"; (c) "Organicpharm"; (d) "Riyuetan"; (e) "Weizai Sheng"; and (f) "Profix"; and a total of six third-party brands, including (among others) (a) "iPro+"; and (b) "Boiron".

Zhengpin Holdings' products are mainly divided into two categories: (i) health supplements and products; and (ii) beauty supplements and products. During the track record period, the sales of health and beauty supplements and products accounted for approximately 98.8%, 98.8%, and 98.2% of the group's total revenue, respectively.

According to Frost & Sullivan, the market for health and beauty supplements and products operated by the group is highly competitive and fragmented. In 2024, the competition in the health and beauty supplement and product market in Hong Kong is relatively intense, with the top ten health and beauty supplement and product suppliers accounting for a total market share of 55.3% based on retail value.

In terms of finances, for the fiscal years 2023, 2024, and 2025, the group achieved revenues of approximately HKD 43 million, HKD 110 million, and HKD 130 million, respectively; during the same period, the annual profit and total comprehensive income were approximately HKD 11.313 million, HKD 35.483 million, and HKD 36.257 million, respectively According to the risk factors section of the prospectus by Zhengpin Holdings, the group faces the risk of relying on dairy companies to resell products to end customers, and failing to maintain relationships with dairy companies or otherwise expand the group's wholesale network could have a significant adverse impact on its business

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.