Shanghai Forest Cabin ends the year with an oversubscribed public offering on the Hong Kong Stock Exchange under the ticker 2657.HK.WHO: Shanghai Forest Cabin Cosmetics Group Co. was founded in 2003. The business hit a turning point in 2012, when management pivoted to camellia-based skincare and introduced the concept of "skincare through oils," a niche segment underdeveloped in China at the time. The launch of Camellia Essential Oil in 2014 created a powerful hero product. The product has since ranked first in China's facial oil retail sales for 11 consecutive years, according to the company, and accounted for nearly 40% of total revenue in 2024 and 45.5% in the first half of 2025. As of this summer, the brand operated 554 stores across China, 95% of which were located in shopping malls. Offline channels contributed 40.8% of 2024 revenue.WHY: Proceeds are earmarked for brand building and communication, expansion of omnichannel sales production and supply chain upgrades, technology R&D and product innovation, new brand incubation and strategic M&A, digitalization, and general working capital. DETAILS:Shanghai Forest Cabin Cosmetics Group Co., Ltd. listed with a Main Board IPO under ticker 2657.HK on December 30, 2025.The company offered approximately 13.97 million shares, priced at HKD 77.77 ($9.98) per share, raising a net amount of HKD 997 million ($128 million).The skincare company's debut saw strong investor interest, with the international placement oversubscribed by 19 times and the overall offering oversubscribed by 1,235 times.