HLA's Hong Kong IPO Lapses, Global No.2 Men's Wear Brand's Listing Dream Temporarily Shelved
New Timespace News: HLA Group Corp., Ltd. (600398.SH) filed its IPO application with the Hong Kong Stock Exchange on November 21, 2025, but it has lapsed after six months due to expiration. Huatai International served as the original sole sponsor.
The company is a leading branded apparel retail group in China, distinguished by its diversified brand portfolio, extensive supply chain network, and strong channel integration capabilities. According to Frost & Sullivan, in 2024, the company ranked fourth in China's apparel group revenue. As of June 30, 2025, the total number of global stores exceeded 7,200, covering 11 overseas countries and 31 provincial-level administrative regions in China.
According to Frost & Sullivan, by 2024 revenue, the company is the world's second-largest men's wear brand, Asia's largest men's wear brand, the No.1 men's wear brand in China and Malaysia, and China's fourth-largest apparel group. The company has a diverse product portfolio covering men's wear, women's wear, children's wear, and sportswear, and is also China's largest corporate apparel customization manufacturer. Financially, revenue exceeds RMB 20 billion, net profit exceeds RMB 2 billion, cumulative dividends total approximately RMB 6.5 billion, with a dividend payout ratio of about 90%.
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