舒宝国际通过上市聆讯 SUNNY FORTUNE为独家保荐人

Core Viewpoint - Sunny Fortune is the exclusive sponsor for Shubao International's listing hearing on the Hong Kong Stock Exchange, focusing on the development, production, and sales of disposable hygiene products in China, particularly in the emerging markets of Eurasia [1] Group 1: Business Segments - The company's revenue primarily comes from two main business segments: contract manufacturing and branded products, with contract manufacturing contributing the majority of the revenue [1] - In the contract manufacturing segment, the company acts as an Original Design Manufacturer (ODM), producing and selling baby care products under client brands, primarily exporting to Eurasian countries [1] - The branded products segment involves the production, marketing, and sales of the company's own brand products through various digital platforms, including major e-commerce sites and social media [2] Group 2: Product Offerings - The main product categories in the branded products segment include baby training pants and diapers, with a wide range of products available from economical to premium options [2] - The company offers approximately 140 SKUs across six categories, featuring various designs suitable for newborns to larger infants [2] - The average selling price of female hygiene products decreased from approximately RMB 1.2 per piece in FY2021 to RMB 0.9 in FY2023, and further down to RMB 0.7 in the first nine months of 2024 due to changes in product offerings and lower pricing strategies [3]