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Stock Code   IPO News IPO Timetable
IPO Detail
02657 林清軒
FOREST CABIN
Listing Date2025/12/30    Listing Tomorrow
Listing Price77.770
Grey Market Performance
Last updated: 29/12/2025 19:59  Refresh
  • Bright Smart
    up 92.200 +14.430 (+18.555%)
    High
    104.200
     
    Low
    89.000
    Volume
    34,900
    One Lot Profit
    +721.50
  • Phillip
    up 91.650 +13.880 (+17.848%)
    High
    104.000
     
    Low
    81.000
    Volume
    1,190,000
    One Lot Profit
    +694.00
  • Futu
    up 92.350 +14.580 (+18.748%)
    High
    105.000
     
    Low
    91.000
    Volume
    726,600
    One Lot Profit
    +729.00
  • Bid
  • Ask
  • 92.200
  • (1) 50
  • 50 (1)
  • 92.300
  • 92.150
  • (0) 0
  • 0 (0)
  • 92.350
  • 92.100
  • (0) 0
  • 0 (0)
  • 92.400
  • 92.050
  • (1) 100
  • 0 (0)
  • 92.450
  • 92.000
  • (3) 200
  • 0 (0)
  • 92.500
  • 91.950
  • (0) 0
  • 0 (0)
  • 92.550
  • 91.900
  • (0) 0
  • 0 (0)
  • 92.600
  • 91.850
  • (0) 0
  • 0 (0)
  • 92.650
  • 91.800
  • (1) 50
  • 0 (0)
  • 92.700
  • 91.750
  • (0) 0
  • 0 (0)
  • 92.750
  • Bid
  • Ask
  • 91.600
  • (2) 300
  • 150 (1)
  • 91.650
  •  
  • (1) 200
  • 0 (0)
  •  
  •  
  • (10) 1.95K
  • 0 (0)
  •  
  •  
  • (1) 100
  • 50 (1)
  •  
  •  
  • (0) 0
  • 50 (1)
  •  
 
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COMPANY PROFILE

Shanghai Forest Cabin Cosmetics Group Co. is a premium domestic skincare brand in China with a focus on the anti-wrinkle and firming skincare market, distinguished by its longstanding commitment to premium skincare solutions rooted in camellia-based ingredients under its flagship brand Forest Cabin. Forest Cabin contributed substantially all of the Group’s revenue.

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According to the report, in 2024, Forest Cabin ranked 13th among all premium skincare brands in China including both domestic and international brands by retail sales with a market share of 1.4%, and was the only domestic brand among the top 15 premium skincare brands in China.

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Central to the Group’s product portfolio is its signature Camellia Essence Oil, which had recorded cumulative sales of over 45 million bottles since its launch as of June 30, 2025. The Group’s Camellia Essence Oil had ranked first in China by total retail sales across all sales channels among all facial essence oil products for 11 consecutive years since 2014.

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As of June 30, 2025, Forest Cabin offered 230 SKUs. The Group had 554 stores nationwide, with over 95% located in shopping malls, and its customers primarily comprise individual consumers, e-commerce platforms, retailers, store partners and distributors located in China.

BASIC INFORMATION
MarketHong Kong (Main Board)
Business NatureHousehold & Personal Products
Major Business AreaChina
Board Lot50
GLOBAL OFFERING
No. of Offer Shares13.97M H shares
No. of International Offer Shares12.57M H shares
No. of HK Offer Shares1.40M H shares
Offer Price$77.77
Stock Code2657
Sponsor(s)CITIC Securities (Hong Kong) Limited, Huatai Financial Holdings (Hong Kong) Limited, CLSA Limited
Underwriter(s)CLSA Limited, Huatai Financial Holdings (Hong Kong) Limited, Futu Securities International (Hong Kong) Limited, Tiger Brokers (HK) Global Limited
TIME TABLE
Application PeriodDec 18 (Thu) - noon, Dec 23 (Tue)
Price Determination Date--
Result Announcement DateOn or before Dec 29 (Mon)
Result Announcement DateOn or before Dec 29 (Mon)
Result Announcement DateOn or before Dec 30 (Tue)
Dealings in Shares commence onDec 30, 2025. (Tue)
Reallocation of Shares Offered
Sales Statistics (HKD)
Offer Price$77.77
Capitalization (H Shares)8.25B
NAV / share ($)$13.55 (Unaudited pro forma adj NAV / share)
Use Of Proceeds
Assuming the offer price being at HKD 77.77, the net proceeds raised would be HKD 997.10M, of which
20% : Building brand value and enhancing brand image recognition, and customer-facing brand promotion activities
20% : Enhancing online and offline sales network and establishing overseas sales channels
15% : Strengthening production and supply chain capabilities, enhance production capabilities
15% : Enhancing R&D capabilities and expanding product portfolio
15% : Incubation and acquisition of new brands
5% : Enhancing digitalization and information infrastructure
10% : Ｗorking capital
IPO NEWS
29/12/2025 18:35
{New Stock}FOREST CABIN(02657) ends up 17.85% on grey market
29/12/2025 16:20
{New Stock}FOREST CABIN up 30.9% at HK$101.8 on grey market
Related Document
Prospectus Prospectus  Chinese VersionProspectus  English Version
Remark： The above information is referenced from the prospectus.
  All data is calculated from the non- exercise rights(if applicable).
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