A screen shows the listing of Park Ha's listing on the Nasdaq. [Photo/WeChat account: xinwu_wx]
Park Ha Biological Technology, based in Wuxi National Hi-Tech District, or Wuxi New District, debuted on the Nasdaq on Jan 13, becoming the first Chinese single-brand skincare company to list in the United States.
Park Ha is headquartered in Jiangnan Beauty Bay, an industrial park for beauty and healthcare in Wuxi. Since opening its first store in the city in 2017, the company has developed into a multifaceted cosmetics enterprise that integrates design, research and development, and sales functions. Park Ha's products are available in markets across Europe, Asia, and the Americas. Currently, the company operates more than 200 stores nationwide and serves nearly 100,000 members.
A Park Ha store. [Photo/WeChat account: xinwu_wx]
The company achieved a record industry speed for listing, going from its initial filing to its Nasdaq debut within 12 months. Its price-to-earnings ratio at listing was 140 times, significantly surpassing peers in the sector.
According to Zhang Xiaoqiu, the chairman of Park Ha, the initial public offering raised approximately $5.52 million. These funds are earmarked for the expansion of the company's headquarters in Wuxi, as well as for the development of new product lines. Over the next five years, the company aims to achieve an output value of 1 billion yuan ($136.39 million).
With this milestone, WND now hosts 41 listed companies, including 13 overseas-listed enterprises, further solidifying its position as a hub for innovation and business growth.
