Australian IPO Express: Sophia Health, Xiangtai SPA and 4 other brands raised 15.96 million in financing through listing on the Drip Exchange Australia!
According to the official announcement of MicroConnect Macao Financial Assets Exchange (MCEX), on April 9, 2024, 6 brands from China's catering, retail, and service industries—Sophia Health, Xiangtai SPA, Ru Aishang, Shengjing Hong, Best Before, and BOOONS—along with a total of 45 stores under their banners, successfully listed Daily Revenue Obligations (DRO) on MCEX, raising a total of RMB 15.963 million. Financial institutions participating in this batch of DRO subscriptions included Orient Finance Asia Securities Limited and Pengfa Fund.
Sophia Health (brand code: SFYY), a leading beauty brand in Hunan Province with 27 stores, successfully listed Daily Revenue Obligations (DRO) on MCEX, raising a total of RMB 8.925 million with a 4-year partnership period.
Sophia Health has been deeply rooted in Changsha for over 20 years, operating 27 directly managed stores. Its main business is lifestyle beauty services, supplemented by anti-aging care and medical aesthetics, earning high reputation and recognition locally.
Xiangtai SPA (brand code: SFFX), a leading Thai-style SPA brand in Hunan with 11 stores, successfully listed Daily Revenue Obligations (DRO) on MCEX, raising a total of RMB 3.846 million with a 3-year partnership period.
Since 2019, Xiangtai SPA has focused on the Hunan market, specializing in traditional Thai massage and herbal essential oil SPA. Currently, it operates 14 directly managed stores and 21 franchised stores nationwide, primarily located in mature mid-to-high-end commercial districts, targeting middle-class families.
Ru Aishang (brand code: RASM), a well-known beauty and hairdressing chain brand in South China with 4 stores, successfully listed Daily Revenue Obligations (DRO) on MCEX, raising a total of RMB 1.493 million with a 40-month partnership period.
Founded in 2019, Ru Aishang Beauty & Hairdressing is a professional beauty chain integrating hairdressing, beauty care, body shaping, aromatherapy, high-tech skincare, and light medical aesthetics. It now operates over 20 directly managed stores, mainly in Fuzhou and Shenzhen, and is a renowned emerging beauty brand in South China.
Shengjing Hong (brand code: SJHD), a baking chain originating from Shenyang, Northeast China, successfully listed Daily Revenue Obligations (DRO) on MCEX, raising a total of RMB 811,000 with a 30-month partnership period.
Shengjing Hong opened its first store in 2019 and now operates 23 stores under two series: "Ruyi Shengjing Hong Dim Sum" and "Global Snail World Bakery", covering cities such as Shenyang, Changchun, and Shenzhen.
Best Before (brand code: SWQX), a discount retail chain brand, successfully listed Daily Revenue Obligations (DRO) on MCEX, raising a total of RMB 599,000 with a 36-month partnership period.
Best Before is hailed as China's version of Don Quijote (a Japanese multinational discount chain) and is a popular discount retail brand in Beijing, with a loyal customer base. Currently, it operates 13 stores in Beijing and 1 in Shanghai, all directly managed. The brand plans to open 50 franchised stores in 2024, with core team members boasting over 10 years of offline retail management experience.
BOOONS (brand code: LSCY), an all-day café and light dining brand, successfully listed Daily Revenue Obligations (DRO) on MCEX, raising a total of RMB 289,000 with a 3-year partnership period.
Founded in 2020, BOOONS focuses on providing urban youth with healthy energy supplements and a relaxed, convenient public space. Stores are strategically located in office districts frequented by white-collar workers, offering a "dine-in fast food + takeaway + online delivery" triple business model to meet the daily health needs of the new generation of professionals.
Since the release of the "MicroConnect Macao Exchange General Standards (MAP)" on January 16, 2024, MCEX has actively opened up and introduced a wide range of market participants to engage directly in DRO issuance and trading, empowering intermediaries, brands, investors, and other stakeholders to leverage their strengths and support micro-economies. In the coming months, multiple batches of diverse brand stores will list on MCEX, collectively building a diversified investment and financing ecosystem.
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