Financial Performance - Revenue for the six months ended June 30, 2025, was RMB 439,316 thousand, representing a 33.3% increase from RMB 329,678 thousand in the same period of 2024[5] - Gross profit for the same period was RMB 147,224 thousand, up 39.4% from RMB 105,624 thousand year-on-year[5] - Net profit for the six months ended June 30, 2025, was RMB 30,535 thousand, an increase of 23.5% compared to RMB 24,763 thousand in 2024[5] - Basic and diluted earnings per share for the period were RMB 3.46, compared to RMB 3.30 in the previous year, reflecting a 4.8% increase[5] - Total revenue for the six months ended June 30, 2025, was RMB 439,316,000, representing a 33.3% increase from RMB 329,678,000 in the same period of 2024[16] - Revenue from disposable hygiene products and non-woven fabric sales increased to RMB 389,865,000, up 34.3% from RMB 290,264,000 in the previous year[18] - Major customer A contributed RMB 189,280,000 to revenue, a significant increase of 65.5% compared to RMB 114,392,000 in the prior period[18] - The company reported a net profit before tax of RMB 6,312,000 for the six months ended June 30, 2025, compared to RMB 5,874,000 for the same period in 2024[24] - The profit attributable to the company's owners for the six months ended June 30, 2025, was RMB 30,535,000, compared to RMB 24,763,000 for the same period in 2024, representing a year-over-year increase of approximately 23.4%[27] - The company's profit for the same period rose by approximately RMB 5.7 million or 23.0% to about RMB 30.5 million, up from approximately RMB 24.8 million in the previous period[69] Assets and Liabilities - Total assets as of June 30, 2025, amounted to RMB 1,147,834 thousand, compared to RMB 590,742 thousand as of December 31, 2024, indicating a significant growth[6] - Current assets increased to RMB 461,879 thousand from RMB 302,444 thousand, marking a 52.8% rise[6] - The company's cash and cash equivalents rose to RMB 165,380 thousand, up from RMB 26,698 thousand, a substantial increase of 519.5%[6] - Total equity increased to RMB 478,197 thousand as of June 30, 2025, compared to RMB 345,511 thousand at the end of 2024, reflecting a growth of 38.4%[7] - The company’s total liabilities as of June 30, 2025, were RMB 221,675,000, compared to RMB 191,095,000 as of December 31, 2024, indicating an increase of 16%[41] - Trade receivables (net of impairment) decreased to RMB 107,704,000 as of June 30, 2025, from RMB 145,463,000 as of December 31, 2024, reflecting a decline of approximately 26%[32] - As of June 30, 2025, trade payables amounted to RMB 42,335,000, a decrease of 30.8% from RMB 61,184,000 as of December 31, 2024[41] - Interest-bearing loans decreased slightly to RMB 32,000,000 as of June 30, 2025, from RMB 33,000,000 as of December 31, 2024[50] Operational Highlights - The company is focused on expanding its market presence in China, particularly in the production and sales of disposable hygiene products and non-woven fabrics[8] - The group has only one operating and reportable segment, focusing on the production and sales of disposable hygiene products and non-woven fabrics[14] - The company plans to add two new baby care production lines and one non-woven fabric production line by 2025, enhancing manufacturing capacity[72] - The company’s strong supply chain and vertically integrated operations provide necessary flexibility to respond to market changes[74] - Contract manufacturing revenue increased by approximately RMB 80.4 million or 43.6% to about RMB 264.8 million, driven by increased demand in the Russian market[71] - Brand products revenue grew by approximately RMB 19.5 million or 18.4% to about RMB 125.4 million, reflecting strong online sales and the successful launch of a new women's hygiene product[76] Expenses and Costs - Research and development expenses for the six months ended June 30, 2025, were RMB 11,871,000, slightly up from RMB 11,704,000 in the previous year[23] - Sales and distribution expenses surged by approximately RMB 36.7 million or 76.6% to about RMB 84.6 million, largely due to increased online sales and promotional activities[78] - Administrative and other operating expenses increased by approximately RMB 4.6 million or 23.4% to about RMB 24.3 million, mainly due to a significant rise in consulting fees[80] - Financial costs increased by approximately RMB 0.5 million or 166.7% to about RMB 0.8 million, primarily due to an increase in the average balance of interest-bearing borrowings[82] - Income tax expenses increased by approximately RMB 0.4 million or 6.8% to about RMB 6.3 million, with the effective tax rate decreasing from approximately 19.2% to 17.1%[83] Cash Flow and Investments - The company has committed capital expenditures of RMB 14,670,000 as of June 30, 2025, down from RMB 20,972,000 as of December 31, 2024[66] - The company has future minimum lease payments receivable of RMB 793,000 as of June 30, 2025, compared to RMB 292,000 as of December 31, 2024[67] - The net proceeds from the global offering amounted to approximately HKD 85.1 million, with all funds remaining unutilized as of June 30, 2025[100] - The planned use of proceeds includes purchasing machinery for production lines, totaling HKD 24,860 thousand for infant care and women's care products, and HKD 22,136 thousand for non-woven fabric production lines[101] Governance and Compliance - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2025[110] - The company has complied with the corporate governance code and relevant regulations since the listing date[109] - All resolutions at the 2025 Annual General Meeting were passed by voting, with results published on the stock exchange and the company's website[104]

格隆汇8月14日丨舒宝国际(02569.HK)宣布，董事会会议将于2025年8月26日（星期二）举行，藉以（其 中包括）审议通过本集团截至2025年6月30日止六个月的中期业绩及其公告以供发布，以及考虑宣派中 期股息（如有）。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本通告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本通告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 SOFT INTERNATIONAL GROUP LTD （股份代號：2569） 董事會會議日期 舒寶國際集團有限公司（「本公司」，及其附屬公司「本集團」）董事（「董事」）會 （「董事會」）宣佈，董事會會議將於2025年8月26日（星期二）舉行，藉以（其中包 括）審議通過本集團截至2025年6月30日止六個月的中期業績及其公告以供發佈， 以及考慮宣派中期股息（如有）。 代表董事會 舒寶國際集團有限公司 董事長兼執行董事 顏培坤 中國福建省泉州市晉江市，2025年8月14日 於本公告日期，本公司執行董事為顏培坤先生、曾國棟先生、周家豪先生及高躍 先生；本公司非執行董事為蔡昊先生；及本公司獨立非執行董事為梁佳穎女士、 黃大維先生及吳康政先生。 舒寶國際集團有限公司 （於開曼群島註冊成立的有限公司） ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 舒寶國際集團有限公司 呈交日期: 2025年8月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02569 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 3,800,000,000 | HKD | | 0.0001 | HKD | | 380,000 | | 增加 / 減少 (-) | | | 0 | | | | HKD | | | | 本月底結存 | | | 3,800,000,000 | HKD | | 0.0001 | HKD | | 380,000 | 本月底法定/註冊股本 ...

Group 1 - The core viewpoint of the article highlights the recent stock performance of Shubao International, which closed at HKD 1.490, down 4.49% from the previous trading day, despite reaching a one-year high of HKD 1.680 during the day [1] - The company experienced a net outflow of HKD 34.58 million, with inflows of HKD 7.85665 million and outflows of HKD 8.20240 million on the same day [1] Group 2 - Shubao International Group Limited primarily engages in the development, production, and sales of disposable hygiene products in China, focusing on baby care products in emerging markets in Eurasia [2] - According to a report by Frost & Sullivan, the company is the second-largest exporter of disposable baby care hygiene products from China to Russia, holding approximately 3.7% market share based on export value in 2023 [2] - The company has relied on contract manufacturing to market and sell baby care products abroad, exporting its core products to foreign brand owners, which has significantly contributed to its revenue from emerging markets like Russia and Southeast Asia [2] - The explosive growth of e-commerce in Russia and the development of private labels have benefited the company, which has expanded its production and supply of baby care products to top Russian retailers, enhancing their private label image [2] - The demand shift from international brands to private labels due to the Russia-Ukraine conflict has led to a substantial increase in revenue from the Russian market during the reporting period [2]

Group 1 - The stock price of Shubao International (02569.HK) closed at 1.400 HKD on June 17, reflecting a 0.72% increase from the previous trading day, with an intraday high of 1.420 HKD, marking a nearly one-year high [1] - The net capital flow for the day showed an inflow of 4.18625 million HKD and an outflow of 4.04115 million HKD, resulting in a net inflow of 145,100 HKD [1] Group 2 - Shubao International Group Limited primarily engages in the development, production, and sales of disposable hygiene products for personal use in China, focusing on emerging markets in Eurasia for baby care products [2] - According to a report by Frost & Sullivan, the company is the second-largest exporter of disposable baby care hygiene products from China to Russia, holding approximately 3.7% market share based on export value in 2023 [2] - The company has expanded its operations to produce and supply baby care products and solutions for several top Russian retailers, benefiting from the explosive growth of e-commerce in Russia and the rise of private labels [2] - The ongoing Russia-Ukraine conflict has shifted demand from international brands to private labels among Russian customers, significantly increasing the company's revenue from the Russian market during the reporting period [2]

Core Viewpoint - Shubao International (02569) has gained significant attention in the Hong Kong capital market, with its stock price rising 110% from the IPO price of HKD 0.51 to HKD 1.07, resulting in a market capitalization of approximately HKD 1.07 billion [2] Group 1: Stock Performance - The stock experienced a "four rises and four falls" pattern since its listing, indicating volatility in its trading performance [3] - In the first phase from March 27 to April 24, the stock achieved a 48.98% increase over 18 trading days, with a peak rise of over 56% on the first trading day [4][5] - The second phase from April 28 to May 15 saw a 25.71% increase over 12 trading days, with signs of increased control by mainstream funds as the average daily trading volume decreased [7] - The third phase from May 16 to May 28 showed no net change in stock price despite fluctuations, indicating a strategy to attract new investments while maintaining control [9] - The fourth phase from May 29 to June 9 resulted in a 28.41% increase, with a further decrease in trading volume and turnover rate, suggesting deeper control by mainstream funds [11] Group 2: Company Overview - Shubao International, established in 2010 and headquartered in Fujian, specializes in the research, production, and sales of disposable hygiene products, focusing on baby care, women's care, and adult incontinence [14] - The company is the second-largest exporter of disposable baby care products to Russia, holding a market share of approximately 3.7% in 2023 [14] - In 2024, Shubao International reported revenue of approximately CNY 753 million, a year-on-year increase of 15.01%, although growth has slowed compared to previous years [14] - The baby care segment remains the primary revenue driver, contributing CNY 468 million in 2023, with over CNY 300 million from the Russian market [14] Group 3: Market Potential - The women's care segment is showing growth potential, with the company targeting lower-tier markets through platforms like Pinduoduo and Douyin, achieving a 37% repurchase rate for its menstrual pants [15] - The global women's hygiene products market is projected to reach approximately USD 89.29 billion by 2033, with a compound annual growth rate of about 7.8% from 2024 to 2033 [15] - The adult incontinence market presents significant opportunities, with over 42 million individuals aged 60 and above in China affected, yet the market penetration remains below 5% [16] - Shubao International's strategic focus on emerging consumer segments aligns with current market preferences for high-growth stocks in the Hong Kong market [16]

Group 1 - The core viewpoint of the articles highlights the strong market performance of Shubao International, with its stock price increasing significantly since its listing, reflecting growing investor confidence in consumer companies [1][2] - Shubao International, as part of the Jinjiang enterprise group, benefits from the "going global + maternal and infant" concept, aligning with the current preference for high-growth emerging consumer stocks in the Hong Kong market [2][3] - The company has experienced a notable shift in its business structure, with revenue growth slowing down, particularly in its ODM (Original Design Manufacturer) segment, which saw only a 1.1% increase in 2024 [3][4] Group 2 - In 2024, Shubao International reported a revenue of approximately 753 million yuan, a year-on-year increase of 15.01%, but this growth rate is significantly lower than the previous years [3][4] - The company's revenue from its ODM business accounted for 60.1% of total revenue, while the brand product business saw a substantial increase of 44.6%, driven mainly by a doubling of sales in female hygiene products [3][4] - The decline in revenue from the Russian market, which dropped by 31.9% year-on-year in early 2024, has contributed to the overall slowdown in revenue growth [6][8] Group 3 - The shift in focus from the "infant" market to the "female" market is a response to the saturation of the infant care market, which has been negatively impacted by declining birth rates in China and Russia [8][9] - The global female hygiene products market is projected to reach approximately $89.29 billion by 2033, with a compound annual growth rate of about 7.8% from 2024 to 2033, indicating a significant growth opportunity for Shubao International [9][10] - Despite the potential in the female hygiene market, Shubao International faces challenges due to low barriers to entry and intense competition from both domestic and international brands [10]

Financial Performance - For the fiscal year 2024, the company's revenue increased by approximately RMB 98.2 million or 15.0% to about RMB 752.8 million, compared to approximately RMB 654.6 million in fiscal year 2023[13]. - The profit attributable to the company's owners decreased by approximately RMB 2.9 million or 5.3% to about RMB 54.8 million in fiscal year 2024, down from approximately RMB 57.7 million in fiscal year 2023, primarily due to increased listing expenses of about RMB 7.7 million[13]. - Revenue from the company's brand products business grew significantly by approximately RMB 68.8 million or 44.6%, reaching about RMB 222.8 million in FY2024, up from RMB 154.0 million in FY2023[22]. - The gross profit margin improved to 30.9% in FY2024 from 30.1% in FY2023, while the net profit margin decreased to 7.3% from 8.8%[27]. - The group's revenue increased from approximately RMB 654.6 million in FY2023 to approximately RMB 752.8 million in FY2024, representing a growth of about 15.0%[28]. - Gross profit increased from approximately RMB 197.3 million in FY2023 to approximately RMB 232.9 million in FY2024, a growth of about 18.0%, with the gross margin improving from approximately 30.1% to approximately 30.9%[31]. - Sales costs rose from approximately RMB 457.3 million in FY2023 to approximately RMB 519.9 million in FY2024, an increase of about 13.7%[28]. Business Segments - The two business segments, contract manufacturing and branded products, accounted for approximately 60.1% and 29.6% of total revenue, respectively, in fiscal year 2024[18]. - In the ODM business, the company ranked second in the export of disposable baby care products to Russia in 2023, with revenue remaining stable at approximately RMB 452.8 million for FY2024 compared to RMB 448.4 million for FY2023[19]. - Contract manufacturing revenue remained stable at approximately RMB 448.4 million in FY2023 and approximately RMB 452.8 million in FY2024, despite a decline in sales to Russia[29]. - Brand product revenue surged from approximately RMB 154.0 million in FY2023 to approximately RMB 222.8 million in FY2024, marking an increase of about 44.6%[29]. Market Strategy and Growth - The company aims to strengthen its market position in the baby care product category while expanding its market share in female hygiene and adult incontinence products[15]. - The company is focusing on direct-to-consumer (D2C) models to enhance consumer engagement and experience with its brand products[12]. - The global market for disposable hygiene products continues to show strong growth, driven by increasing consumer awareness of hygiene and ecological sustainability[15]. - The company is positioned to leverage the growing market potential for disposable hygiene products driven by increasing disposable income and consumer preferences for quality products[23]. - The company is optimistic about future opportunities and aims to expand market coverage while enhancing its product offerings[23]. Operational Efficiency - The company is committed to optimizing operational efficiency through vertical integration, covering all aspects from product development to logistics management[12]. - The company maintains a strong supply chain and vertically integrated business model, providing flexibility to respond to market changes[23]. - The company plans to add three new production lines for baby care products and one for women's hygiene products as part of its capital expenditure strategy through FY2025[23]. Financial Stability - The interest coverage ratio significantly increased to 501.6 times in FY2024 from 120.0 times in FY2023, indicating improved financial stability[27]. - The current ratio improved to 1.3 times in FY2024 from 1.1 times in FY2023, reflecting better liquidity management[27]. - Trade and other receivables increased from approximately RMB 94.7 million as of December 31, 2023, to approximately RMB 198.3 million as of December 31, 2024, a rise of about 142.3%[40]. - Trade and other payables increased by approximately RMB 65.4 million or 52.0% from RMB 125.7 million as of December 31, 2023, to RMB 191.1 million as of December 31, 2024[44]. - Total interest-bearing borrowings rose to approximately RMB 33.0 million as of December 31, 2024, compared to RMB 13.0 million as of December 31, 2023, indicating a significant increase of approximately 153.8%[45]. - The capital-to-debt ratio improved to approximately 9.6% as of December 31, 2024, down from 15.7% as of December 31, 2023, mainly due to the waiver of amounts payable to the controlling shareholder[45]. Management and Governance - 顏培坤先生 appointed as Executive Director and Chairman on May 8, 2024, with over 29 years of experience in manufacturing and trade[61]. - The company has a strong management team with diverse backgrounds in various industries, enhancing strategic development and operational efficiency[61][64][67][68][72][73]. - The company is committed to maintaining high standards of corporate governance and compliance through its board structure and independent directors[73]. - The company has adopted the corporate governance code as per the listing rules since its listing date[89]. - The company has confirmed compliance with the standard code of conduct for directors' securities transactions since its listing date[91]. - The board consists of eight members, including four executive directors, one non-executive director, and three independent non-executive directors, with a diverse range of expertise[121]. Shareholder and Community Engagement - The company has not proposed any final dividends for the fiscal years 2024 and 2023, reflecting a focus on reinvestment[54]. - The company encourages shareholders to attend general meetings and express their opinions directly to the board[140]. - The company made charitable donations amounting to RMB 50,000 during the fiscal year 2024[168]. - The company aims to maintain high levels of disclosure and financial transparency to its shareholders and investors[143]. - The company has reviewed its shareholder communication policy and found it effective since the date of listing[144]. Compliance and Risk Management - The company has established a monitoring system to prevent and combat corruption, misappropriation of funds, and commercial bribery[137]. - The board has confirmed the effectiveness and adequacy of the risk management and internal control systems as of the report date[136]. - The company has complied with relevant laws and regulations without any significant violations during the fiscal year 2024[154].

Core Viewpoint - Shubao International has successfully listed on the Hong Kong Stock Exchange, focusing on the essential consumer goods sector of disposable hygiene products, which are increasingly popular due to their convenience and hygiene [1] Group 1: Company Overview - Established in 2010, Shubao International specializes in the development, production, and sales of personal disposable hygiene products, with three core brands: infant care, women's care, and adult incontinence products [2] - The company offers a diverse product matrix, with over 140 SKUs in infant care, around 20 SKUs in women's care, and over 15 SKUs in adult incontinence products as of September 30, 2024 [2] Group 2: Financial Performance - For the first nine months of 2024, revenue from infant care products reached RMB 286 million, accounting for 55.0% of total revenue; women's care products generated approximately RMB 158 million, representing 30.4%; and adult incontinence products brought in about RMB 14.3 million, making up 2.7% [2] - The revenue composition has improved compared to the fiscal year 2023, where the respective contributions were 71.5%, 17.4%, and 2.1%, indicating a diversification in the company's business structure [2] Group 3: Growth Strategy - Shubao International is expanding its Direct-to-Consumer (D2C) model, leveraging major digital platforms such as Pinduoduo, Tmall, and JD.com, as well as social media platforms like Douyin and Kuaishou [3] - The company operates over 30 self-operated D2C stores, offering a wide range of products under its brands [3] Group 4: International Expansion - The company has established a strong presence in international markets, particularly in Russia, where it is the second-largest Chinese supplier of disposable infant care products [3][4] - Revenue from Russia, China, and Southeast Asia for the first nine months of 2024 was RMB 206 million, RMB 243 million, and RMB 36.7 million, respectively, accounting for 39.6%, 46.6%, and 7.1% of total revenue [4] Group 5: Long-term Outlook - The disposable hygiene products industry is expected to maintain stable demand due to its essential nature, with Shubao International demonstrating high growth potential, evidenced by a 57.7% compound annual growth rate in revenue and a 142.6% compound annual growth rate in net profit from fiscal year 2021 to fiscal year 2023 [4]