Bridal manufacturer Guangdong Mingrui plans to list in Hong Kong next year

The wedding dress manufacturer Guangdong Mingrui Group intends to list in Hong Kong by the middle of next year, raising about RMB 1 billion. Cai Shuqiang, the group's shareholder, said yesterday that the group had previously planned to list in the mainland and had some delays. Recently, the group’s shareholders had reached an initial consensus that they would like to raise funds for listing in Hong Kong and they could make a final one to two months.

Chua said that the Group's export business is the mainstay. Last year, the export value was close to US$40 million. The proceeds from the fund-raising will be used for the distribution of the Mainland, and will increase sales in cities with higher spending power such as Beijing, Shanghai and Tianjin.

It is reported that Guangdong Mingrui is currently one of the world’s largest manufacturers of high-end evening wear, wedding dresses and accessories. It exports 500,000 sets of high-end evening wear, 150,000 sets of bridal wear, and other clothing such as embroidery, embroidery, beaded embroidery and other products. More than 90% are sold to Europe and the United States. The predecessor of the company was Chaozhou Chaoxiu Factory, one of the four famous embroiderers in China.