On 16 January 2023, Beauty Farm Medical and Health Industry Inc. (2373.HK, “Beauty Farm”), a leading beaty and health management service company in China, was listed on the mainboard of HKEx. The company offered 40,536,500 shares globally at the issue price of HKD 19.32 with oversubscription by approximately 21.12 times in the HK public offering and 4.7 times in the international offering, and the maximum opening gain was over 70% on the first day. 

Founded in 1993, Beauty Farm is a leader in the beauty and health management services industry in China, with a large and loyal customer base, an extensive store network, a diverse range of services and products, and high brand recognition. According to its revenue in 2021 as well as the report delivered by Frost & Sullivan, Beauty Farm is the largest provider of traditional aesthetic services and the fourth largest provider of non-surgical medical aesthetic services in China.

With extensive experience in offshore listing areas, Grandall has been retained as the issuer's legal adviser and provided premium and professional legal service for the project with LI Peng, YUE Yongping, ZHANG Qiang as key lawyers.