纸尿裤在俄罗斯市场热销，婴舒宝生产商舒宝国际上市 26岁副总裁：仍然看好国外市场整体前景

Core Viewpoint - The mother and baby products industry is under scrutiny following the "3·15" event, with Shubao International entering the Hong Kong stock market, highlighting the company's growth and future plans in the sector [1][2]. Company Overview - Shubao International officially listed on the Hong Kong Stock Exchange on March 27, with a share price of HKD 0.67 and a market capitalization of HKD 670 million. The company raised a net amount of HKD 86 million during its IPO [1]. - The company is known for its diaper brand "Ying Shubao" and has a family-oriented management structure, with several family members in key positions [1][3]. Market Performance - The IPO was highly successful, with a subscription rate of 167.09 times for the public offering, resulting in the allocation of 125 million shares [3]. - On its first trading day, Shubao International's stock price increased by 31.37%, closing at HKD 0.67 after reaching a high of HKD 0.82 [1]. Business Strategy - The company plans to expand its product categories and enhance brand recognition, focusing on both baby care and women's hygiene products, which have seen significant growth in revenue share [4]. - Women's hygiene products accounted for 0.4% and 0.5% of total revenue in 2021 and 2022, respectively, but surged to 17.4% in 2023 and 30.4% in the first nine months of 2024 [4]. Financial Allocation - Shubao International intends to allocate approximately HKD 28 million for new production lines, HKD 25 million for non-woven fabric production lines, and HKD 16.4 million for brand marketing [6]. Market Dynamics - The company is the second-largest exporter of disposable baby care products to Russia, holding a 3.7% market share in 2023 [6]. - Revenue from the Russian market increased from 40% in 2021 to 57% in 2023, although there has been a decline in sales in 2024 due to market uncertainties [7]. Future Outlook - The company is shifting focus towards the Chinese D2C market, particularly in women's hygiene products, in response to changing consumer preferences in Russia [7]. - Shubao International aims to expand its reach into Southeast Asia, targeting markets that are large and under-penetrated [7].