证券代码：301078 证券简称：孩子王 公告编号：2025-093 孩子王儿童用品股份有限公司 关于向香港联交所递交境外上市外资股（H 股）发行并上 市申请并刊发申请资料的公告 https://www1.hkexnews.hk/app/sehk/2025/107951/documents/sehk25121100119. pdf 英文： https://www1.hkexnews.hk/app/sehk/2025/107951/documents/sehk25121100120. pdf 需要特别予以说明的是，本公告仅为境内投资者及时了解本次发行并上市 的相关信息而作出。本公告以及本公司刊登于香港联交所网站的申请资料均不 构成也不得视作对任何个人或实体收购、购买或认购公司本次发行的境外上市 外资股（H 股）的要约或要约邀请。 公司本次发行并上市尚需取得中国证券监督管理委员会、香港证监会和香 港联交所等相关政府机关、监管机构、证券交易所的批准、核准或备案，该事 项仍存在不确定性。公司将根据该事项的进展情况依法及时履行信息披露义务， 敬请广大投资者注意投资风险。 本公司及董事会全体成员保证信息披露的内容真实、准 ...

Company Overview - Kidswant (301078.SZ) has submitted an application to list on the Hong Kong Stock Exchange, with Huatai International as the sole sponsor [1] - The company is a leading provider of integrated services in the new consumption market for parent-child families in China, primarily engaged in the sale of maternal and child products and providing child development and parenting services [3] Market Position - According to Frost & Sullivan, Kidswant ranked first in the Chinese maternal and child products and services market in 2024, with a GMV of RMB 13.8 billion and a market share of 0.3% [1] - The company has successfully created a business model that integrates products, services, social interaction, and sales channels, becoming a preferred service brand for parent-child families in China [3] Business Expansion - Kidswant acquired Silky Group in July 2025 to expand into the scalp and hair care market, where Silky Group is projected to rank first in 2024 with a market share of 3.3% [3] - As of September 30, 2025, Kidswant's offline sales and service network includes 3,710 stores, covering all provincial administrative regions in mainland China [3] Financial Performance - The company recorded revenues of RMB 85.2 billion, RMB 87.53 billion, RMB 93.37 billion, and RMB 73.49 billion for the years 2022, 2023, 2024, and the nine months ending September 30, 2025, respectively [9] - The total profit and comprehensive income for the same periods were RMB 1.2 billion, RMB 1.21 billion, RMB 2.05 billion, and RMB 2.29 billion [10] - Gross profit for the years 2022, 2023, 2024, and the nine months ending September 30, 2025, was RMB 25.29 billion, RMB 25.57 billion, RMB 27.6 billion, and RMB 20.86 billion, with corresponding gross profit margins of 29.7%, 29.2%, 29.6%, and 28.4% [11] Industry Overview - The Chinese parent-child new consumption market is transitioning from traditional maternal and child retail to a comprehensive consumption ecosystem, with a total market size projected to grow from RMB 4.6118 trillion in 2020 to RMB 5.2308 trillion in 2024, at a CAGR of 3.2% [13] - The maternal and child products and services market is expected to grow from RMB 3.498 trillion in 2020 to RMB 3.995 trillion in 2024, with a CAGR of 3.4% [14] - The scalp and hair care market is projected to grow from RMB 432 billion in 2020 to RMB 611 billion in 2024, with a CAGR of 9.1% [19] Strategic Direction - Kidswant aims to continue its "three expansion strategy" focusing on expanding product categories, market segments, and business formats, while enhancing its store network and deepening its private label strategy [6] - The company plans to accelerate the development of its local business and apply artificial intelligence across its operations to drive growth [6]

Company Overview - Kidswant Children's Products Co., Ltd. (Kidswant) has submitted an application to list on the Hong Kong Stock Exchange, with Huatai International as the sole sponsor [1] - Kidswant is a leading provider of comprehensive services in the new consumption market for parent-child families in China, primarily engaged in the mother and baby business, including the sale of products and provision of child development and parenting services [3][6] - The company has successfully integrated products, services, social interaction, and sales channels into a cohesive business model, becoming a preferred service brand for parent-child families in China [3] Market Position - In 2024, Kidswant is projected to rank first in China's mother and baby products and services market with a GMV of RMB 13.8 billion, holding a market share of 0.3% [1] - The company has expanded its product offerings beyond the mother and baby business by acquiring the Silky Group in July 2025, which focuses on scalp and hair care, where it is also expected to rank first with a market share of 3.3% [3] Business Model and Strategy - Kidswant's business includes the sale of mother and baby products and the provision of parenting services, with a diverse product range sourced from over 600 third-party brands and more than 15 proprietary brands [6] - The company aims to continue its "three expansion strategy" focusing on expanding product categories, market segments, and business formats, while enhancing its store network and deepening its proprietary brand strategy [6] Financial Performance - For the fiscal years ending December 31, 2022, 2023, and 2024, Kidswant reported revenues of RMB 8.52 billion, RMB 8.75 billion, and RMB 9.34 billion, respectively [9] - The gross profit for the same periods was RMB 2.53 billion, RMB 2.56 billion, and RMB 2.76 billion, with corresponding gross profit margins of 29.7%, 29.2%, and 29.6% [11] - The total profit and comprehensive income for the fiscal years were RMB 1.20 billion, RMB 1.21 billion, and RMB 2.05 billion, respectively [10] Industry Overview - The new consumption market for parent-child families in China is transitioning from traditional retail to a comprehensive consumption ecosystem, driven by changes in demographics and parenting philosophies [13] - The market size is expected to grow from RMB 4.61 trillion in 2020 to RMB 5.23 trillion in 2024, with a CAGR of 3.2%, and projected to reach RMB 6.57 trillion by 2029 [13] - The mother and baby products and services market is a cornerstone of this ecosystem, expected to grow from RMB 3.50 trillion in 2020 to RMB 4.87 trillion by 2029, with a CAGR of 4.1% from 2025 to 2029 [14] Growth Potential - The scalp and hair care market is anticipated to grow significantly, with a projected CAGR of 11.0% from 2025 to 2029, reaching RMB 103 billion by 2029 [23] - The beauty and skincare market, driven by the demand for functional skincare, is expected to grow from RMB 235.9 billion in 2025 to RMB 413.7 billion by 2029, with a CAGR of 15.1% [24] - The AI companion smart products market is also experiencing explosive growth, projected to expand from RMB 20.1 billion in 2025 to RMB 64 billion by 2029, with a CAGR of 33.6% [24]

Group 1 - The core viewpoint of the article is that Kidswant Children Products Co., Ltd (referred to as "Kidswant") has submitted an application to list on the main board of the Hong Kong Stock Exchange, with Huatai International as the sole sponsor [1] - Kidswant is recognized as a leading all-channel comprehensive service provider in the new consumption market for parent-child families in China, primarily engaged in the mother and baby products and services sector [1] - According to Frost & Sullivan, Kidswant ranks first in the Chinese mother and baby products and services market by GMV in 2024, holding a market share of 0.3% [1]

Core Viewpoint - Kid King Children's Products Co., Ltd. has submitted a prospectus for listing on the Hong Kong Stock Exchange, aiming to establish an "A+H" share structure after its initial public offering in Shenzhen in October 2021 [2][19]. Financial Performance - For the first nine months of 2025, Kid King reported revenue of 7.349 billion RMB, an 8% increase from 6.8 billion RMB in the same period last year, with a net profit of 229 million RMB compared to 155 million RMB in the previous year [6][25]. - The company's revenue projections for 2022, 2023, and 2024 are 8.52 billion RMB, 8.753 billion RMB, and 9.337 billion RMB, respectively, with corresponding net profits of 1.2 billion RMB, 1.21 billion RMB, and 2.05 billion RMB [5][22]. Business Expansion - Kid King is primarily engaged in the mother and baby products sector, including sales of related products and providing child development and parenting services. The company aims to expand into the scalp and hair care market through the acquisition of Siyi Group for 1.65 billion RMB, with Kid King investing 1.0725 billion RMB [4][21]. - Siyi Group, established in July 2014, focuses on personal care and has developed a comprehensive business model that integrates products, services, and channels for hair health solutions [5][22]. Shareholding Structure - The largest shareholder group of Kid King, led by Wang Jianguo, controls approximately 27.14% of the voting rights, with Wang's company, Jiangsu Bosi Da, holding 22.01% of the shares [12][29]. - Other significant shareholders include Nanjing Qianse Nuo with 5.13%, and various private equity funds holding smaller stakes [30][32].

港交所文件显示，孩子王儿童用品股份有限公公司向港交所提交上市申请书，独家保荐人为华泰国际。 本文源自：金融界AI电报 ...

孩子王儿童用品股份有限公公司向港交所提交上市申请书，独家保荐人为华泰国际。 ...

本文源自：金融界AI电报 据港交所文件：孩子王儿童用品股份有限公司向港交所提交上市申请书。 ...

The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Application Proof, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Application Proof. Application Proof Kidswant Children Products Co., Ltd 孩 子 王 兒 童 用 品 股 份 有 限 公 司 (A joint stock company incorporated in the People's Repu ...

香港聯合交易所有限公司與證券及期貨事務監察委員會對本申請版本的內容概不負責，對其準確性或完整 性亦不發表任何意見，並明確表示概不就因本申請版本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。 Kidswant Children Products Co., Ltd 孩 子 王 兒 童 用 品 股 份 有 限 公 司 （於中華人民共和國註冊成立的股份有限公司） 的申請版本 警告 本申請版本乃根據香港聯合交易所有限公司（「聯交所」）及證券及期貨事務監察委員會（「證監會」）的要求而 刊發，僅用作提供資訊予香港公眾人士。 本申請版本為草擬本，其內所載資料並不完整，亦可能會作出重大變動。 閣下閱覽本文件，即代表 閣 下知悉、接納並向孩子王兒童用品股份有限公司（「本公司」）、其獨家保薦人、整體協調人、顧問或包銷團 成員表示同意： 本公司招股章程根據香港法例第32章公司（清盤及雜項條文）條例與香港公司註冊處處長登記前，本公司不 會向香港公眾人士提出要約或邀請。倘於適當時候向香港公眾人士提出要約或邀請，準投資者務請僅依據 呈交香港公司註冊處註冊的本公司招股章程作出投資決定，該文件的文本將於發售期內派發予 ...