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稳健医疗(300888):品牌势能向上,核心品类表现亮眼
HTSC· 2025-07-04 05:30
证券研究报告 稳健医疗 (300888 CH) 品牌势能向上,核心品类表现亮眼 2025 年 7 月 04日│中国内地 消费轻工 作为"消费+医疗"双轮驱动的大健康企业,公司"winner 稳健医疗"和 "Purcotton 全棉时代"两大品牌影响力不断提升。2025 年以来,1)消费 品坚持产品领先战略,营销&渠道端打法优化,经营渐入佳境,Q2 终端销 售虽因舆情事件影响短期有波动,但随着营销回归正常轨道叠加新品投放, 板块收入有望保持增长势能;2)医疗板块受益于"内生+外延"双轮驱动, 板块收入有望筑底回升。立足当前,我们看好公司双轮成长驱动力,2025 年轻装上阵,经营势能突出,维持"买入"评级。 近况跟踪:618 大促顺利收官,核心单品表现亮眼 1Q25 公司消费品板块实现营收 13.4 亿元/同比+28.8%,Q2 由于"315"行 业舆情事件扰动,我们预计 Q2 板块收入同比增速环比 Q1 有所放缓,但核 心品类仍表现优异。今年 618 期间,公司通过产品创新升级、新品迭代、精 准营销等方式,重点品类及渠道发展提升明显,洗脸巾、婴童干湿巾、婴童 抱被等在天猫、京东电商平台销售额在同类目中均排第一; ...
京东服饰美妆清凉季正式开启 携手阿迪达斯、兰蔻、蕉下等每满300减30
进入7月,各地迎来高温模式,如何清凉玩转夏天成为关注焦点。京东服饰美妆清凉季正式开启,携手 兰蔻、安热沙、阿迪达斯、蕉下、ubras、新秀丽等大牌,带来美妆防晒、清凉夏装、运动装备、凉感 内衣、出行箱包、时尚配饰等多品类爆款好物,不仅有跨店每满300减30等优惠,更推出大牌秒杀7元 起、反季清仓7折封顶、潮品拍卖1元起等夏日多重惊喜。即日起至7月31日,大家打开京东APP搜索"时 尚一夏"进入会场,入手心仪清凉好物,轻松应对炎炎烈日! 高温天紫外线强烈,涂抹防晒霜是每日外出必备功课。兰蔻小白管水漾防晒乳以SPF50+ PA++++高倍防 护力,轻盈质地连敏感肌也能安心使用;欧莱雅美颜防晒隔离露创新实现防晒+遮瑕二合一功效,一支 搞定底妆需求;薇诺娜清透防晒乳专为敏感肌研发,舒缓配方清爽不刺激;安热沙智感防晒喷雾搭载智 能感应技术,遇水遇热自动增强防护力,是户外活动的理想选择。 暑假来临,出游不知道带什么装备更合适?京东服饰美妆清凉季精选大容量箱包、潮流饰品、防晒墨镜 等多款度假好物:新秀丽竖条纹行李箱采用大容量分区收纳设计,让行李井井有条;帕森范丞丞同款墨 镜,有效护眼;此外还有深海蓝表盘的浪琴康卡斯潜水系列 ...
男人内裤大升级!10000+风洞,瞬间凉感降温,胯下生风
凤凰网财经· 2025-06-30 14:22
别再问我夏天穿什么内裤了!直接看这篇! 这条 狂野橘子男士内裤 ,我们 已经 连续卖了3年, 好评如潮、回购率超高, 我家人都喜欢穿! 质感、设计直接对比大牌,性价比却超高!! 买过的人早早就在评论区问, 今年夏季的内裤上新了吗? 一直等到今天才上架,是因为今年 它又又又升级了‼️ 去年已经卖爆上万单,今年竟然还能再超越,款式面料全面升级—— 狂野橘子10A级抗菌「风洞凉感抗菌裤」来啦 今年的新款 还要更冰爽、更轻薄、更健康! 轻、薄、透气是标配,关键它 真真切切通过了凉感性能检测, 大夏天,穿上去瞬间皮肤就像喝到一杯畅快冷饮,从身体到心情,就就只有一个字: 爽!!! 凉感系数0.19,具有接触瞬间凉感性能 高出国标凉感产品判定标准 图源:自己拍的 抗菌性能更是直接拉满。 去年是5A级抗菌,耐100次水洗。 今年升级, 足足做到了AAAAAAAAAA——10A级抗菌, 抗菌耐水洗次数直接翻了3倍! 经过300次水洗,甚至到了你该换新内裤那天,它还在抗菌! 检测报告放在下面 由始至终,稳稳捍卫男士健康! 上一代狂野橘子男士内裤,是在两侧拼接网孔面料。 今年升级成全身风洞凉感,直接把10000+透气孔遍布整条内裤 ...
稳健医疗:6月24日接受机构调研,嘉实基金、招商基金等多家机构参与
Zheng Quan Zhi Xing· 2025-06-25 01:38
Core Viewpoint - The company, Steady Medical, has shown strong performance in its consumer products and medical business segments, with significant growth in sales and profits, particularly during promotional events like the 618 shopping festival. Group 1: Consumer Products Performance - The consumer products segment performed well during the 618 shopping festival, with key categories such as facial towels, baby wet and dry wipes, and baby wraps ranking first in sales on platforms like Tmall and JD.com [2] - The company achieved notable sales growth in sanitary napkins and underwear, with traditional platforms like Tmall and JD.com showing good growth, while Douyin saw breakthrough growth during the event [2] - The company is confident in achieving its equity incentive goals for the year [2] Group 2: E-commerce Strategy - Online channels contribute over 60% to the overall revenue of the consumer products business, making it a primary source of profit [3] - The company covers a wide range of online platforms, including traditional e-commerce sites and interest-based platforms like Douyin and Xiaohongshu, as well as its own website and mini-programs [3] - Future strategies include focusing on strategic product development on traditional platforms and leveraging interest-based platforms for content dissemination to drive growth [3] Group 3: Adult Apparel Business Changes - The adult apparel segment has undergone changes to enhance market competitiveness, focusing on underwear and loungewear [4] - The company has strengthened its core fabric research and innovation, emphasizing comfort and health in its cotton products [4] - A high-profile endorsement from actress Zhao Liying has been utilized to boost brand awareness, with interactive marketing strategies during the 618 festival [4] Group 4: Membership Growth - As of the end of Q1 2025, the total membership across all channels exceeded 64 million, reflecting a 3.5% increase since the beginning of the year [5] - The company aims to enhance member engagement and loyalty through improved services and participation in brand activities [5] - A themed event focusing on comfort and environmental sustainability was held to engage young consumers [5] Group 5: Medical Business Development - The medical business strategy focuses on developing high-potential products like high-end dressings and surgical kits while nurturing emerging categories such as masks and disinfectants [6] - The company anticipates continued growth in high-end dressings and surgical supplies, with stable growth expected in traditional wound dressings [6] - The demand for infection prevention products is expected to normalize, providing stable revenue contributions [6] Group 6: Domestic Hospital Business Strategy - The domestic hospital business is expected to achieve good growth in 2025, focusing on traditional wound care, surgical supplies, and high-end dressings [7] - The company plans to leverage procurement opportunities to increase market share in traditional wound care [7] - Efforts are being made to promote non-standardized products and expand market opportunities in surgical supplies [7] Group 7: Financial Performance - For Q1 2025, the company reported a main revenue of 2.605 billion yuan, a year-on-year increase of 36.47%, and a net profit of 249 million yuan, also up 36.26% [8] - The company’s gross profit margin stands at 48.46%, indicating strong profitability [8] - Recent institutional ratings show 19 buy ratings and 3 hold ratings, with an average target price of 57.07 yuan [8]
稳健医疗20250624
2025-06-24 15:30
Summary of the Conference Call for Steady Medical and All Cotton Era Industry and Company Overview - The conference call primarily discusses the performance and strategies of Steady Medical and its brand All Cotton Era in the sanitary products and medical supplies industry [2][3][4]. Key Points and Arguments Overall Growth and Performance - Steady Medical expects to maintain high growth in 2025 despite the impact of the 315 incident, with strong online and offline performance in sanitary napkins, particularly the Nice Princess brand [2][3]. - The company has not adjusted its annual growth target and remains confident in improving profitability, aiming to achieve its annual equity incentive goals [2][6]. Product Performance - The Nice Princess sanitary napkin has a repurchase rate exceeding 60% on Douyin, indicating strong consumer loyalty [4][12]. - The cotton soft towel category is focusing on supply chain safety marketing in the short term, with plans to return to material education and launch new products in the second half of 2025 [2][9]. Financial Metrics - Q2 gross margin is expected to improve due to lower raw material costs and product structure adjustments, despite increased marketing expenses following the 315 incident [7][21]. - The company achieved a double-digit revenue and profit increase in Q1 2025, with overall growth expected to remain in the high double digits [3][6]. Market Competition - The sanitary napkin market is highly competitive, with new players entering and shifting brand rankings. All Cotton Era focuses on safety and comfort, leveraging its medical background and clean production facilities to differentiate itself [10][12]. - The company has made significant progress in brand recognition and market share, entering the top ten rankings during the 618 shopping festival [10][11]. Channel Performance - Steady Medical's key products are performing well in Douyin and KA channels, with high e-commerce achievement rates. However, offline store sales are slightly sluggish but do not significantly impact overall profitability [5][18]. - The company plans to open 60 new stores in 2025, focusing on high-quality growth and profitability for each new location [19][20]. Future Product Plans - In 2025, All Cotton Era plans to focus on three strategic product categories: cotton soft towels, sanitary napkins, and intimate apparel, with significant market potential in each [23][28]. - The company aims to enhance consumer understanding of its products through material education and marketing, emphasizing its core advantages of 100% cotton materials and medical endorsements [9][28]. Medical Business Insights - The medical segment is seeing good growth domestically, with a focus on high-margin products and expanding customer bases in hospitals [15][21]. - The acquisition of GRI has brought additional capacity and sales growth, particularly in the U.S. market, despite potential goodwill impairment risks due to geopolitical factors [24]. Marketing and Brand Strategy - All Cotton Era is enhancing its brand promotion for medical-grade products, emphasizing its advantages over new national standards [24]. - The company is actively expanding its presence in KA channels and optimizing product categories to increase market penetration [25][26]. Additional Important Insights - The company is optimistic about the second half of 2025, expecting significant sales growth in sanitary napkins and intimate apparel, particularly in KA and Douyin channels [16][17]. - The overall market for sanitary napkins exceeds 100 billion yuan, with intimate apparel also exceeding 100 billion yuan, indicating substantial growth opportunities [23].
你的内裤该换了!精致女人都穿它,肚子平了,腰也细了,舒适一整天
洞见· 2025-06-24 10:06
洞见 (DJ00123987) ——不一样的观点,不一样的故事,3000万人订阅的微信大号。点击标 题下蓝字"洞见"关注,我们将为您提供有价值、有意思的延伸阅读。 溯源归一牧场,带你现场看牛牛 小孩喝了长高,大人喝了强身健体 预约直播,喝优质好奶 都说 "身材是女人最好的名片" ,但是25岁后代谢越来越慢,加上工作之后的久坐,皮下肥膘增 长... 尤其是宝妈们,一边照顾孩子一边挣钱养家,很难有时间去管理产后身材: ①腹直肌分离,肚子还会变得松垮下坠; ②胯骨变宽,屁股两侧凹进去,显得更扁更大。 不是给大家制造焦虑哈~ 其实,从"水桶腰"到"水蛇腰"蜕变的瘦身捷径,就是穿收腹裤! 当然,我说的可不是这种压迫感很强、勒得人胸痛、腰疼、喘不上气的收腹裤哦。 就是这款!看着跟普通内裤没什么两样,实际可以"以一顶三",既能当内裤,又是收腹裤+提 臀裤! 特妮娜7A轻塑收腹内裤 肉肚女孩穿上它,一秒变水蛇腰,让人直呼哇塞! 为什么这么有自信给大家推荐这款?先给大家上"战绩"—— | 眼内记录 | | 跟团记录 | | | | --- | --- | --- | --- | --- | | 500 | 1周前 | 230 ...
创始人子女退出管理层!浪莎股份“去家族化”?企业回应
Nan Fang Du Shi Bao· 2025-06-24 09:35
Management Changes - Wang Sha Co., Ltd. has appointed new management, with Weng Rongdi as the general manager, Jin Zhoubin as the deputy general manager, and Lu Mingliang as the financial head [1][5] - The founder's children, Weng Xiaofeng and Weng Xiaofei, have exited the core management team, indicating a shift away from family-centric management [1][4] Company Background - Wang Sha Co., Ltd. was founded in 1995 by the Weng brothers and is a typical family business, with the founders holding a combined 43.89% stake in the company [2][4] Financial Performance - In 2024, the company reported a revenue of 380 million yuan, a decrease of 2.08% year-on-year, while net profit increased by 3.43% to 23.4 million yuan [5] - The company closed 102 stores in 2024, ending the year with a total of 282 stores [5] Quality Issues - Wang Sha's products have faced multiple quality control issues, with several items failing to meet standards in inspections conducted by market supervision authorities [6][7]
“Miu系穿搭”成为时尚代名词,Miu Miu为什么能成为“顶流”?
3 6 Ke· 2025-06-23 03:58
而且在奢侈品行业遭遇"寒冬"之际,Miu Miu也凭借一己之力救Prada于水火之中。虽然从Miu Miu的发展经历来看,不是一路高开,但Miu Miu只用了3年 时间,就将业绩从4亿欧元推向了12亿欧元,2024年销售额同比暴涨93.2%。 Miu Miu无论是在业绩上还是时尚端,都可以称得上"现象级"。只是这个曾经被视为"Prada副线"的品牌,究竟为什么能够逆势增长且成为新晋"顶流"? 从追逐传统的奢侈品到争相为Miu Miu买单,年轻人正在被"Miu系穿搭"征服。 她们身上穿的也许不是来自Miu Miu的单品,但整体呈现出的却是Miu系风格,显然Miu Miu已经成为了年轻人表达潮流和先锋的时尚符号。 这一切还要从Miu Miu的关键人物说起,她们将叛逆精神焊进了品牌的DNA里。 刻在骨子里的"反叛"基因 提起Miu Miu,你能想到的是什么?是老钱感的知识分子风,还是芭蕾元素的甜美少女感?这种看似矛盾又截然不同的风格,何尝不是一种"反叛"的表 现,在Miu Miu似乎永远都不会感到无聊。 其实Miu Miu多元风格的背后,正是对创始人精神的践行。 Miu Miu是Prada集团第三代继承人Miucc ...
大侠后宫:“两个月给女朋友花了1w算多吗…?”啊啊啊八毛一条的苦茶子也能穿吗!
猿大侠· 2025-06-15 03:02
转自:吐槽星君 两个月给女朋友花了1w现在后悔了怎么办? (vi a .@叁川说 ) 含运费险服务 实付款 ¥25.90 超100人回购 申请售后 追加评价 单之一点 电影 公众号 · 吐槽星君 好便宜的苦茶子 as day 6-3 10:42 来自山东 0 公众号 - 中 3981 / 我寻思花了一万,裤视子一条也得四五十吧, 就这! 公公营 · 6-3 10:50 来自福建 看到第二张截图我莫名笑了一下 6 0 日 14 130 6-3 11:36 来自浙江 司 厚,早,早, 真无语了,买的东西只发了十几二十的内裤, 为什么?不都得发多的让人看吗?想不通 【 日 192 6-3 11:47 来自天津 我天,我一条安全裤都要三四十,他三条十几 块 ..... (∞) 0 日 1 62 6-3 10:55 来自广东 - - - 虽然我也买便宜的,但是真的好便宜 △ 6-3 11:40 来自福建 图公众号 · 明德里 我真的震惊了 ......是怎么找到这么便宜的,第 一眼我以为这个一次性内裤是7条,我寻思还 行啊,和我买的价格一样看了评论再仔细一 看,发现是30条 ..... 不到 30 块钱 30 条一次性 ...
高考季祈福消费促文昌结手绳等“好彩头”商品热销 京东618祈福手绳同比增长近3倍
Zhong Jin Zai Xian· 2025-06-10 08:27
Core Insights - The high school entrance examination season has led to a surge in sales of auspicious items, with parents and students purchasing symbolic clothing and accessories to express good wishes [1][2] - The sales of high school blessing bracelets have increased nearly threefold during the recent period, reflecting the emotional needs of parents and students [2] - As the examination period concludes, students are transitioning into summer travel, while middle school students prepare for their upcoming exams [4] Group 1: Sales Performance - High school blessing bracelets saw a nearly threefold increase in sales compared to the previous year [2] - Sales of items like blessing qipaos and purple underwear have more than doubled year-on-year [1] - Nike's "All Correct" T-shirt experienced a nearly threefold increase in sales volume due to its alignment with parents' and students' aspirations for success [1] Group 2: Product Trends - Items such as qipaos, cultural shirts with auspicious phrases, and socks for top students have become popular choices for parents to express their blessings [1] - The market for aesthetically pleasing and meaningful jewelry, such as the Wutai Mountain Wenchang knot bracelet and gold blessing bracelets, is thriving [2] - The promotion of summer fashion and exam-related products is being actively marketed through discounts and special offers on platforms like JD.com [4]