The first day of IPO of famous and innovative products was opened at $24.40, 22% higher than the IPO offering price of $20.00, but the subsequent increase narrowed all the way, and the market value was 3.34 billion US dollars, which was finally up 4.35% to $2087 and market value of 6.34 billion US dollars. The IPO price of famous and excellent products is $20, which is higher than the previous ceiling of 16.5-18.5 dollars. The total issue of middling excellent products is 30.4 million ads, and the underwriter is granted 45.56 million shares of over allotment right. If the right to put is fully exercised, it will raise $700million, higher than the previous expected fund-raising of $400million. On September 24, the company formally submitted IPO documents to the securities and Exchange Commission of the United States (SEC), and on October 10, the company updated its IPO to the United States. The prospectus shows that Gmv of famous and excellent products reached 19 billion yuan in 2019. In fy2019 (July 2018 to June 2019), the revenue of famous and excellent products was 9.39 billion yuan, with a loss of 290million yuan; in fy2020 (July 2019 to June 2020), the revenue was 8.98 billion yuan, down 4.4% year on year and a loss of 260million yuan. At the same time, the gross profit of famous products in 2020 is 2.732 billion yuan, 8.8% higher than that of 2.511 billion yuan in fy2019, 26.7% in fy2019 and 30.4% in fy2020. In response, Zhang Saiyin, executive vice president and chief financial officer of mingchuang superior products, told reporters that since the purpose of famous products is high-quality and low price, the pricing strategy will not be changed after listing, and it is expected that the gross profit will not change greatly in the future. After the IPO, the latest shareholding of founder yeguofu was 72.5%, and Li Minxin, vice president of investment development center and vice general manager of mingchuang excellent products China, held 4.6% shares, while the shares of both external investors Gaoling capital and Tencent were 4.8%. Founded in 2013, the famous and excellent products are headquartered in Guangzhou, China. It is a daily necessities retailer selling stationery, gift, personal care and other products. Currently, it has 4200 stores worldwide, including 2500 stores in China and 1680 stores in more than 80 countries. In addition, famous and innovative excellent products have always been called “offline competition”. When executives talk about future development strategies, they also mentioned that the company will “seize the opportunity of low-line cities and improve the overall penetration rate”. In the sinking market that the company wants to explore, it will face more competition pressure. SpaceX beat blue origin and Northrop Grumman to win a $316 million air force contract