---
title: "Blue Moon Rings the Bell at HKEX, Becoming the First Laundry Detergent Stock, with Market Value Aiming for a 100 Billion Yuan Giant!"
description: "Domestic washing and care giant Blue Moon listed in Hong Kong today, with a market value approaching HK$100 billion! At 9 a.m. on December 16, the daily chemical leader Blue Moon officially listed on the Hong Kong stock market, opening up over 16% at HK$15.9 per share, with a total market value once exceeding HK$90 billion. Founders Luo Qiuping and Pan Dong's wealth soared to nearly HK$76 billion, entering China's rich list. Hillhouse Capital, which has accompanied Blue Moon for 10 years, will also reap nearly 20 times returns."
author: "New Distribution"
publisher: "New Distribution"
email: "zhaobo258@gmail.com"
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published: "2020-12-16"
language: "en"
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---

# Blue Moon Rings the Bell at HKEX, Becoming the First Laundry Detergent Stock, with Market Value Aiming for a 100 Billion Yuan Giant!

> Domestic washing and care giant Blue Moon listed in Hong Kong today, with a market value approaching HK$100 billion! At 9 a.m. on December 16, the daily chemical leader Blue Moon officially listed on the Hong Kong stock market, opening up over 16% at HK$15.9 per share, with a total market value once exceeding HK$90 billion. Founders Luo Qiuping and Pan Dong's wealth soared to nearly HK$76 billion, entering China's rich list. Hillhouse Capital, which has accompanied Blue Moon for 10 years, will also reap nearly 20 times returns.

**Domestic washing and care giant Blue Moon listed in Hong Kong today, with a market value approaching HK$100 billion!**
**At 9 a.m. on December 16, the daily chemical leader Blue Moon officially listed on the Hong Kong stock market, opening up over 16% at HK$15.9 per share, with a total market value once exceeding HK$90 billion.** Founders Luo Qiuping and Pan Dong's wealth soared to nearly HK$76 billion, entering China's rich list. Hillhouse Capital, which has accompanied Blue Moon for 10 years, will also reap nearly 20 times returns. Hillhouse Capital founder Zhang Lei once said that Blue Moon is like an early "Chinese version of P&G." Previously, domestic daily chemical products were monopolized by P&G, Unilever, and other daily chemical products. Blue Moon overtook the curve with laundry detergent, breaking the monopoly of foreign brands, and became one of the largest daily chemical brands in China.

**-01-**
**Opened 16% higher on the first day of listing, rising all the way!**
On December 15, Blue Moon Group issued an announcement, finally setting the issue price at HK$13.16 per share, at the top of the offer range. Based on this price, Blue Moon's initial issuance market value was HK$75.63 billion, and the estimated net proceeds from the global offering were approximately HK$9.576 billion (assuming the over-allotment option is not exercised).

The announcement showed that the Hong Kong offer shares initially proposed by Blue Moon Group under the Hong Kong public offering were substantially oversubscribed, receiving a total of 454,743 valid applications, subscribing for a total of 22.5133 billion shares, equivalent to approximately 301.33 times the total number of Hong Kong offer shares initially available for subscription under the Hong Kong public offering.

**Today, Blue Moon officially listed on the Hong Kong stock market, opening 16% higher on the first day, and then rising all the way, with a market value exceeding HK$90 billion. As of the close, Blue Moon reported HK$14.880, up 13.07%, with a market value of HK$85.517 billion.**

According to the prospectus, Blue Moon's board chairman Pan Dong and the company's CEO Luo Qiuping are husband and wife. Currently, the two hold a total of 88.92% of Blue Moon shares through ZED and Van Group Limited, making them the actual controllers of Blue Moon; Hillhouse Capital holds 10% of Blue Moon shares.

This means that with the listing of Blue Moon, the founder's wealth has soared by nearly HK$76 billion, and its accompanying investor Hillhouse Capital has also gained considerable returns.

Regarding the listing of Blue Moon, Hillhouse founder Zhang Lei said: "**Listing is the beginning of a new journey. We look forward to Blue Moon continuing to create new miracles and continuously advancing towards the goal of becoming a world-class leader in the daily chemical industry.**"

**-02-**
**From "Daoming Research Institute" to "Blue Moon": Luo Qiuping's Legendary Path**
In 1984, Luo Qiuping graduated from Wuhan University with a bachelor's degree in chemistry, and then went to the Shanghai Institute of Organic Chemistry of the Chinese Academy of Sciences to pursue a master's degree, becoming one of the first batch of students in the pilot program for a combined master's and doctoral degree at the academy.

Originally, Luo Qiuping was to follow an academic path of "studying, doing research, writing papers, and publishing papers," and continue to pursue a doctoral degree after completing his master's.

In the 1960s, there were many reports about "Saturday engineers." "Saturday engineers" referred to engineers from state-owned enterprises who would take part-time jobs on weekends to provide technical support to township enterprises.

Inspired by these reports, Luo Qiuping realized that the knowledge he learned had practical uses, and the Chinese people needed products more than papers. So, Luo Qiuping gave up the idea of continuing his doctoral studies.

Later, Luo Qiuping contacted several graduate classmates and registered a research institute in Guangzhou, named "Daoming Research Institute," with a business license number of "X0001," meaning it was the first private research institute at that time.

Through a spray cleaner that "wipes oil stains bright," Luo Qiuping earned his first pot of gold. In 1992, Daoming Company launched the first "Blue Moon" brand product—a powerful oil stain remover targeting kitchen stains.

In 1994, Luo Qiuping and his father, Luo Wengui, established Guangzhou Blue Moon Company in China, taking over the Blue Moon brand cleaning products business from Daoming Company.

In 2000, Blue Moon launched its first hand sanitizer product, but at that time people were accustomed to washing hands with soap, and hand sanitizer sales were dismal.

It wasn't until 2003, when SARS swept through China, that the whole country paid unprecedented attention to the cleaning method of "handwashing." Blue Moon timely carried out hand sanitizer promotion activities offline, quickly becoming a leading brand in hand sanitizers.

But Luo Qiuping did not stop there. After all, the domestic hand sanitizer market was only about 2 billion yuan in size. He realized that Blue Moon had to find another larger category, so Luo Qiuping began to look for new business.

Also in 2003, Blue Moon launched its first laundry detergent product, but it had limited impact on consumers who were still accustomed to using laundry powder and soap.

It wasn't until 2008 that Blue Moon launched its flagship laundry detergent, combined with intensive TV advertising and mall promotions, that its laundry detergent products became a hit in the market. In October 2008, Blue Moon's laundry detergent market share was still fifth, but by February 2009, its market share reached 32.7%, becoming the champion.

Since then, Blue Moon has maintained its leading position in the laundry detergent market to this day, defeating foreign giants such as P&G and Unilever that have dominated the Chinese market for many years.

**-03-**
**In a highly competitive market, Blue Moon has a promising future**
In a dialogue in 2015, Zhang Lei asked Luo Qiuping how large Blue Moon's development scale in China could be. Luo Qiuping said that some consumer needs have not yet been met, so they need to develop more categories, or even directly help consumers wash clothes.

According to a Frost & Sullivan report, China is one of the largest home cleaning care markets in the world, with the highest growth potential among major economies. By retail sales, the size of China's home cleaning care market is expected to grow from RMB 110.8 billion in 2019 to RMB 167.7 billion in 2024, with a compound annual growth rate of 8.7%.

In 2019, Blue Moon Group sold HK$6.178 billion (approximately RMB 5.205 billion) of laundry products, with total sales revenue of all categories reaching HK$7.05 billion (RMB 5.94 billion), and profits reaching HK$1.08 billion (RMB 910 million). There is no doubt that Blue Moon still has huge room for growth in this market.

**With the help of the domestic economic cycle and the trend of consumption upgrading, Blue Moon, as an industry leader, will leverage its strong brand power, product strength, and channel strength to maintain its first-mover advantage and continue to benefit from domestic consumption upgrading and the rapid development of the industry.**

Industry insiders believe that this listing will help Blue Moon expand its global financing channels, provide a broader platform for the company's development, and make Blue Moon's future development even more promising.

However, it is worth noting that the Frost & Sullivan report cited in Blue Moon's prospectus shows that although Blue Moon still ranks first in the laundry detergent market with a 24.4% share, the leading brands are already evenly matched, with the second place holding a 23.5% share, a small gap from Blue Moon.

Facing a highly competitive market, Blue Moon must have a sense of crisis, stay true to its original aspiration, and not forget innovation to go further. As Luo Qiuping said at the listing ceremony, **"In the future, Blue Moon will continue to adhere to a consumer-centric approach, driven by innovation, provide a full range of home cleaning solutions, popularize a clean lifestyle, create a clean, healthy, comfortable, decent, and happy Blue Moon world, and make greater contributions to society."**

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