【私募调研记录】同犇投资调研倍加洁

Group 1 - The core viewpoint of the news is that Tongben Investment has conducted research on a listed company, Beijiajie, highlighting its revenue and operational strategies in the U.S. market [1] - Beijiajie expects approximately 300 million yuan in revenue from the U.S. market in 2024, accounting for 24% of the company's total revenue [1] - The U.S. tariff policy may negatively impact Beijiajie's business in the U.S. market, although major clients have not yet been affected [1] - The company has increased its toothpaste production capacity to 120 million units annually, with a gross margin turning positive [1] - Beijiajie has expanded its client base to include brands such as Shufuda, Shuke, and BOP [1] - The ownership dispute among shareholders of Weimeizi does not affect its operations [1] - For 2025, Beijiajie plans to focus its ODM business on developing major clients while prioritizing scale development in its OBM business [1] - A production base project in Vietnam is under construction, with administrative approval procedures confirmed for the first quarter of 2025 [1] - Shanenkang reported revenue of 19.69 million yuan in the first quarter of 2025, a year-on-year increase of 58.87%, and a net profit of 2.86 million yuan, marking a return to profitability [1] - The gross margin for products such as toothbrushes and wet wipes remains around 22% [1] Group 2 - Tongben Investment is a distinctive sunshine private equity firm established in January 2014, with a registered capital of 10 million yuan [2] - The firm received its private investment fund manager registration certificate on May 4, 2014, and is one of the few sunshine private equity firms founded by top analysts recognized by New Fortune [2] - The general manager and investment director, Mr. Tong Xun, has extensive experience in the securities research industry, having worked for 12 years at Shanghai Shenwan Hongyuan Securities Research Institute [2] - Mr. Tong was awarded the title of the best analyst in the food and beverage industry by New Fortune for five consecutive years from 2008 to 2012, specializing in consumer investment [2]