# Xiaokuo Technology

Selling the Scent, Not the Science: Canban’s IPO Unmasks the Paradox of China’s New Consumption

Chinese oral care disruptor Canban has filed for a Hong Kong IPO, revealing a business model that prioritizes massive marketing spend and celebrity endorsements over R&D and manufacturing. The company faces significant regulatory scrutiny regarding pre-IPO dividends and its reliance on third-party factories.