Bmai Sports launches IPO counseling; A-shares may welcome the listing of a running shoe company.

A-shares may be welcoming a rare appearance from a footwear and apparel brand enterprise. Recently, Beijing Bmai Sports Co., Ltd. (“Bmai Sports”) filed for IPO registration with the Beijing Securities Regulatory Bureau, assisted by Industrial Securities. Bmai Sports mainly focuses on professional running shoes, with its emphasis on online channels. In terms of products, Bmai Sports’ running shoes can even be subdivided into daily jogging and marathon categories. The latter can be further split into application scenarios like shock-absorbing jogging and speed-racing marathon. Looking at the price system of professional running shoes, Bmai Sports’ pricing is relatively “affordable,” with most shoes costing around a hundred yuan. Currently, Bmai Sports is expanding its product categories from running shoes to running apparel, accessories, and other running-related products. If Bmai Sports manages to go public successfully, it is expected to inject fresh energy into the industry. Looking back over the past three years, A-shares have not yet seen a traditional footwear and apparel brand company successfully listed. Zhongqiao Sports Co., Ltd. (formerly Qiaodan Sports) submitted an IPO application to the CSRC in 2010, and in 2023 was transferred to the exchange for review along with the implementation of the registration-based IPO reform. However, due to trademark lawsuits and other reasons, after more than a decade, it still failed to cross the listing threshold and ultimately fell short. In recent years, footwear and apparel companies listed on the A-shares have tended to be in the supply chain sector, such as this May’s listing of Guqi Down Materials, which supplies core materials like goose down and duck down for down jackets to apparel brands including HLA. Some footwear and apparel brands, after failing to enter A-shares, have instead chosen to head to the Hong Kong stock market. For example, Boshieho—dubbed the “Arcteryx alternative”—initiated IPO guidance in August 2023, but in April this year opted to pursue a listing on the Hong Kong Stock Exchange. Against this backdrop, Bmai Sports’ path to listing may also be an endurance race, and could become an important indicator for observing the listing of footwear and apparel brand enterprises on A-shares, providing more industry reference. Risk Warning and Disclaimer The market carries risks; investment should be approached with caution. This article does not constitute personal investment advice and does not take into account individual users’ specific investment objectives, financial situation, or needs. Users should consider whether any opinions, views, or conclusions in this article fit their particular circumstances. Investing accordingly is at one’s own risk.