Core Viewpoint - Shubao International (02569) has gained significant attention in the Hong Kong capital market, with its stock price rising 110% from the IPO price of HKD 0.51 to HKD 1.07, resulting in a market capitalization of approximately HKD 1.07 billion [2] Group 1: Stock Performance - The stock experienced a "four rises and four falls" pattern since its listing, indicating volatility in its trading performance [3] - In the first phase from March 27 to April 24, the stock achieved a 48.98% increase over 18 trading days, with a peak rise of over 56% on the first trading day [4][5] - The second phase from April 28 to May 15 saw a 25.71% increase over 12 trading days, with signs of increased control by mainstream funds as the average daily trading volume decreased [7] - The third phase from May 16 to May 28 showed no net change in stock price despite fluctuations, indicating a strategy to attract new investments while maintaining control [9] - The fourth phase from May 29 to June 9 resulted in a 28.41% increase, with a further decrease in trading volume and turnover rate, suggesting deeper control by mainstream funds [11] Group 2: Company Overview - Shubao International, established in 2010 and headquartered in Fujian, specializes in the research, production, and sales of disposable hygiene products, focusing on baby care, women's care, and adult incontinence [14] - The company is the second-largest exporter of disposable baby care products to Russia, holding a market share of approximately 3.7% in 2023 [14] - In 2024, Shubao International reported revenue of approximately CNY 753 million, a year-on-year increase of 15.01%, although growth has slowed compared to previous years [14] - The baby care segment remains the primary revenue driver, contributing CNY 468 million in 2023, with over CNY 300 million from the Russian market [14] Group 3: Market Potential - The women's care segment is showing growth potential, with the company targeting lower-tier markets through platforms like Pinduoduo and Douyin, achieving a 37% repurchase rate for its menstrual pants [15] - The global women's hygiene products market is projected to reach approximately USD 89.29 billion by 2033, with a compound annual growth rate of about 7.8% from 2024 to 2033 [15] - The adult incontinence market presents significant opportunities, with over 42 million individuals aged 60 and above in China affected, yet the market penetration remains below 5% [16] - Shubao International's strategic focus on emerging consumer segments aligns with current market preferences for high-growth stocks in the Hong Kong market [16]

Core Viewpoint - Baiya Co., Ltd. has experienced a continuous decline in stock price over the past seven trading days, with a cumulative drop of -6.97% [1] Company Overview - Chongqing Baiya Hygiene Products Co., Ltd. specializes in the research, production, and sales of disposable hygiene products and is recognized as a comprehensive enterprise in the domestic disposable hygiene products industry [1] Financial Performance - Baiya Co., Ltd. has seen a year-to-date return of 3.12%, ranking 616 out of 2306 in its category [1][2] - The fund managed by Caitong Asset Management, Caitong Asset Management Value Growth Mixed A, reduced its holdings in Baiya Co., Ltd. during the first quarter of this year [1] Fund Manager Profile - Jiang Yongming, the fund manager of Caitong Asset Management Value Growth Mixed A, has a background in business management from Tsinghua University and has held various positions in asset management since 2009 [3][4] - Jiang has been managing the fund since April 18, 2019, and has accumulated a total management time of 6 years and 43 days [4]