This article only represents the author's own views.
The publicity brochure for a well-known Chinese jewelry brand features modern designs in gleaming gold mixed with traditional symbols of wealth and good fortune. This jewelry maker usually promotes its wares to urban Chinese shoppers, but its latest publication is designed to tempt investors to buy into its planned IPO. The images of necklaces and bracelets with captions about “golden fortune” adorn the recently filed prospectus from Mokingran Jewellery Group Co. Ltd., which is looking to list its shares on the Hong Kong Stock Exchange.
Established in 2000, Mokingran deals in high-end gold jewelry, mainly targeting female consumers with growing disposable incomes in China’s third- and fourth-tier cities. The business started out processing and selling gold jewelry but went on to become a design brand in its own right, producing collections with titles such as “ancient prayers for good fortune” or “cute pets”.