New Stock News KK Group, a new mainland retailer, submits another application for listing on the main board.

KK Group, which operates retail brands KKV, THE COLORIST, X11, and KK Pavilion, has once again submitted an application for listing on the main board of the Hong Kong Stock Exchange. The joint sponsors for the listing are Morgan Stanley and Credit Suisse. KK Group had previously applied for listing in 2021, with preliminary plans to raise $500 million. However, the application expired in January this year. According to the latest information, KK Group currently has a total of 696 stores in 31 provinces in China and 22 cities in Indonesia. Some of these stores are franchise stores, while nearly 600 are owned by the company. In the first quarter ending in March this year, the group's revenue reached RMB 1.445 billion, a year-on-year increase of 47.8%. Net profit increased slightly by 0.3% to RMB 73.563 million. Adjusted net profit for the first quarter was RMB 85.948 million, compared to an adjusted net loss of RMB 51.058 million in the same period last year. According to the preliminary prospectus, the funds raised from the listing will be used to expand the store network, increase market penetration, invest in technology and digital business, and optimize the logistics supply chain. (gc/da)