智通财经获悉，乐舒适(02698)现涨超4%，截至发稿，涨4.27%，报31.28港元，成交额1953.28万港元。 本文源自：智通财经网 乐舒适专注于非洲等新兴市场卫生用品行业。中信建投发布研报称，展望未来，非洲婴儿纸尿裤及拉拉 裤、卫生巾渗透率仅约20%、30%，相对成熟市场的70%-90%、90%左右提升空间广阔，新兴市场经济 的快速增长将有力带动渗透率提升；在拉美、中亚、南北非等新兴市场，公司凭借产品制造和渠道深耕 的经验优势，有望进一步开拓；公司背靠森大集团，或有快消品相关资产未来整合可能。 消息面上， 乐舒适公布，悉数行使超额配股权、稳定价格行动及稳定价格期结束。公告称，整体协调 人悉数行使15%超额配股权，涉及合共1,363.26万股。发售价26.20港元，额外募资净额3.45亿港元。据 此，乐舒适IPO募资升至27.38亿港元。 ...

每经AI快讯，乐舒适(02698.HK)涨超4%，截至发稿涨4.27%，报31.28港元，成交额1953.28万港元。 ...

Core Viewpoint - LeShuShi (02698) has seen a stock price increase of over 4%, currently trading at 31.28 HKD, with a trading volume of 19.53 million HKD. The company has fully exercised its over-allotment option, raising a net amount of 345 million HKD from the IPO, bringing total fundraising to 2.738 billion HKD [1]. Company Summary - LeShuShi has fully exercised its 15% over-allotment option, involving a total of 13.6326 million shares at an offer price of 26.20 HKD [1]. - The company focuses on the hygiene products sector in emerging markets, particularly in Africa [1]. - The company is backed by SenDa Group, which may present future integration opportunities with fast-moving consumer goods assets [1]. Industry Summary - According to CITIC Securities, the penetration rates for baby diapers and sanitary pads in Africa are approximately 20% and 30%, respectively, compared to 70%-90% in mature markets, indicating significant growth potential [1]. - The rapid economic growth in emerging markets is expected to drive an increase in penetration rates for hygiene products [1]. - LeShuShi aims to further expand in Latin America, Central Asia, and North and South Africa, leveraging its manufacturing and channel expertise [1].

Group 1 - The core point of the article is that LeShuShi (02698) has seen a stock price increase of over 4% following the announcement of the full exercise of its over-allotment option and the completion of its price stabilization actions [1] - LeShuShi's overall coordinator fully exercised a 15% over-allotment option, involving a total of 13.6326 million shares, raising an additional net amount of HKD 345 million at a price of HKD 26.20 per share [1] - As a result, LeShuShi's total IPO fundraising has increased to HKD 2.738 billion [1] Group 2 - The company focuses on the hygiene products industry in emerging markets such as Africa, where the penetration rates for baby diapers and sanitary pads are only about 20% and 30%, respectively, compared to 70%-90% in mature markets, indicating significant growth potential [1] - The rapid economic growth in emerging markets is expected to drive an increase in penetration rates for hygiene products [1] - LeShuShi has advantages in product manufacturing and channel development, which may allow it to further expand in Latin America, Central Asia, and North and South Africa [1] - The company is backed by the SenDa Group, which may present opportunities for future integration of fast-moving consumer goods-related assets [1]

来源：瑞恩资本RyanbenCapital 据此，乐舒适IPO募资升至27.38亿港元。 | | 紧接悉數行使 | | 緊隨悉數行使 | | | --- | --- | --- | --- | --- | | | 超額配股權完成前 | | 超額配股權完成後 | | | | | 佔本公司 | | 佔本公司 | | | | 已發行 | | 已發行 | | | | 股本的 | | 股本的 | | 股份説明 | 股份數目 | 概約百分比 股份數目 | | 概約百分比 | | 已發行股份 | 515.000.000 | 85.00% 515.000.000 | | 83.13% | | 根據全球發售發行的股份 | 90.884.000 | 15.00% 104.516.600 | | 16.87% | | 總計 | 605,884,000 | 100% 619,516,600 | | 100% | 此外，有关全球发售的稳定价格期已于同日结束。期间，稳定价格操作人中国国际金融并无在市场买卖 任何股份。 版权声明：所有瑞恩资本Ryanben Capital的原创文章，转载须联系授权，并在文首/文末注明来源、作 者、微信ID ...

乐舒适(02698)发布公告，招股章程所述的超额配股权已于2025年12月5日由整体协调人(为彼等本身及代 表国际包销商)悉数行使，涉及合共1363.26万股股份，相当于超额配股权获行使前全球发售项下初步可 供提呈发售的发售股份总数约15%。超额配发股份将由公司按每股26.20港元(即全球发售项下每股发售 价)予以发行及配发。此外，有关全球发售的稳定价格期已于2025年12月5日(即提交香港公开发售申请 的截止日期后第30日)结束。 ...

格隆汇12月5日丨 乐舒适(02698.HK)公告，公司宣布，招股章程所述超额配股权已于2025年12月5日(星 期五)由整体协调人(为彼等本身及代表国际包销商)悉数行使，涉及合共13,632,600股股份，相当于超额 配股权获行使前全球发售项下初步可供提呈发售的发售股份总数约15%。超额配发股份将由公司按每股 26.20港元(不包括1.0%经纪佣金、0.0027%证监会交易徵费、0.00015%会财局交易徵费及0.00565%联交 所交易费)(即全球发售项下每股发售价)予以发行及配发。 根据香港法例第571W章证券及期货(稳定价格)规则第9(2)条，公司宣布，有关全球发售的稳定价格期已 于2025年12月5日(星期五)(即提交香港公开发售申请的截止日期后第30日)结束。有关稳定价格操作人中 国国际金融香港证券有限公司或其联属人士或代其行事的任何人士于稳定价格期采取的稳定价格行动的 进一步资料载于本公告。 ...

智通财经APP讯，乐舒适(02698)发布公告，招股章程所述的超额配股权已于2025年12月5日由整体协调 人(为彼等本身及代表国际包销商)悉数行使，涉及合共1363.26万股股份，相当于超额配股权获行使前全 球发售项下初步可供提呈发售的发售股份总数约15%。超额配发股份将由公司按每股26.20港元(即全球 发售项下每股发售价)予以发行及配发。此外，有关全球发售的稳定价格期已于2025年12月5日(即提交 香港公开发售申请的截止日期后第30日)结束。 ...

香港交易及結算所有限公司、香港聯合交易所有限公司（「聯交所」）及香港中央結算有限公司 （「香港結算」）對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表 示概不就因本公告全部或任何部分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。 除本公告另有界定外，本公告所用詞彙與樂舒適有限公司（「本公司」）所刊發日期為2025年10 月31日的招股章程（「招股章程」）所界定者具有相同涵義。 本公告乃根據香港法例第571W章《證券及期貨（穩定價格）規則》第9(2)條作出。本公告僅供參 考，並不構成收購、購買或認購本公司證券的要約或促使任何人士提呈有關要約之邀請。有關 發售股份的任何投資決定應僅依賴招股章程所提供資料作出。 本公司宣佈，招股章程所述之超額配股權已於2025年12月5日（星期五）由整 體協調人（為彼等本身及代表國際包銷商）悉數行使，涉及合共13,632,600股股 份，相當於超額配股權獲行使前全球發售項下初步可供提呈發售的發售股份總 數約15%。超額配發股份將由本公司因悉數行使超額配股權而按每股26.20港元 （不包括1.0%經紀佣金、0.0027%證監會交易徵費、0.00015% ...

Core Viewpoint - The company is a leading player in the African hygiene products market, primarily focused on the sales of diapers, with a well-established brand portfolio targeting emerging markets in Africa, Latin America, and Central Asia [1] Industry Overview - The African hygiene products market is valued at $3.8 billion, characterized by low penetration rates and growth potential. Population growth in emerging markets, along with economic development and improved product awareness, indicates significant room for increased product penetration [2] - According to Frost & Sullivan, the market sizes for diapers, sanitary napkins, and baby pull-ups in Africa are projected to reach $2.59 billion, $0.85 billion, and $0.39 billion respectively by 2024, with expected CAGRs of 7.0%, 10.7%, and 7.6% from 2025 to 2029 [2] - The market is concentrated, with a few international brands and local leaders dominating. The CR5 for baby diapers and women's sanitary napkins is projected to be 61.0% and 41.3% respectively by 2024 [2] Company Competitive Advantages - **Localized Supply Chain**: The company has established local production facilities in multiple African countries, optimizing production processes and reducing logistics costs through local sourcing of raw materials [2] - **Diverse Product Line and Brand Matrix**: The company offers over 340 SKUs and continuously innovates. Its core brand "Softcare" targets the mid-range market, while it also expands horizontally with technology-driven brands and vertically with more affordable options like "Maya" and "Cuettie" [3] - **Extensive Sales Network**: The company has built a comprehensive sales network across Africa, Latin America, and Central Asia, establishing long-term partnerships with wholesalers, distributors, supermarkets, and retailers [3] Financial Forecast and Valuation - The company is projected to achieve net profits of $113 million, $133 million, and $152 million for the years 2025 to 2027, representing year-on-year growth rates of 18.5%, 17.8%, and 14.7% respectively. Corresponding EPS figures are expected to be $0.19, $0.22, and $0.25 [3] - The company is assigned a target P/E ratio of 24x based on comparable companies' average valuations for 2026, leading to a target price of HKD 40.94, with an initial "buy" rating [3]