Core Insights - The company Leshu Shi, founded by entrepreneurs Shen Yanchang and Yang Yanjuan, is making strides towards an IPO in Hong Kong, focusing on the African maternal and infant market with its sanitary napkin and diaper products [1][3] - Leshu Shi has established itself as a leader in the African market, achieving significant sales and revenue growth, with 2024 sales volume reaching 5.757 billion units and revenue of $454 million (approximately 3.2 billion RMB) [3][4] - The founders have maintained control over the company without relying on external capital, which is a rare approach in the current investment climate [3][4] Financial Performance - Leshu Shi's revenue figures for 2022, 2023, and 2024 are $320 million, $411 million, and $454 million respectively, with corresponding net profits of $18.39 million, $64.68 million, and $95.11 million [3][4] - Despite a slowdown in revenue growth in 2024, the company has successfully increased its net profit, indicating effective management of profit margins [3][4] Challenges and Strategy - The company faces challenges due to raw material costs, which account for over 80% of total sales costs, making it vulnerable to price fluctuations [4] - Leshu Shi has a relatively small R&D team of only four employees and a modest R&D expenditure of $500,000 in 2024, focusing primarily on maintaining low prices and high quality [4] - The founders aim to position Leshu Shi as the "Chinese version of Procter & Gamble," seeking to expand globally post-IPO [4]

以下文章来源于商业弧光 ，作者李佳琪 商业弧光 . 听风者，捕光人，最准点的商业节拍 出品｜虎嗅商业消费组 作者｜李佳琪 编辑｜苗正卿 题图｜西贝 折腾十年新事不成后，猛龙回头。 56岁、创业37年、白羊座的西贝创始人贾国龙依然保持着"任性"。 "我就是一个爱折腾的人，到现在依然如此。在我眼中折腾就等于创新。"从正餐到快餐再到零售，过 去十年，这位餐饮老兵几乎把能试的新业务试了个遍。直到2024年市场骤然降温，客流下滑、增长 乏力让西贝经历了创业以来"最艰难的一年"。 贾国龙坦言，2024年的"暴击"让他彻底清醒。于是他决定重新挂帅CEO，将折腾了十年的快餐业务 彻底叫停、零售业务大幅收缩，将个人精力分配从"九成折腾新业务"调整为"全力聚焦正餐"，试图 用"创始人模式"的决绝，为西贝按下重启键。 "回归"后的西贝动作频频：门店争体验、全国推广烤鸭单品、儿童餐推出食材公开卡……这些调整背 后，是贾国龙对餐饮行业的新判断：消费分层不可逆，企业必须守住自己的生态位。而西贝的选择， 是放弃"通吃"幻想，锚定休闲正餐的差异化标签。与此同时，贾国龙还抛出了一项大胆的分配改革： 将自己持有股权的大部分分红权让渡给员工，调整 ...