| | 2025年第二批监督抽查结果公示表 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 序 | | 检 验 | | | 抽 样 | | | | 备 | | 号 | 报告编号 | 结 | 产品名称 | 规格型号 | 环 | 被抽样单位 | 标称生产者 | 承检机构 | 注 | | | | 果 | | | 节 | | | | | | 1 | 2512413353 | 不 符 合 | 羞婷瞬吸贴身系列 20片夜用亲肤棉质 | 310mm 20片/包 | 流 通 | 湖州市康山街道润 家惠超市（个体工 | 常州市云云卫生用品厂 | 浙江方圆 检测集团 股份有限 | / | | | | 要 | 卫生巾 | | | 商户） | | | | | | | | | | | | | 公司 | | | | | 求 | | | | | | | | | 2 | 2511305463 | 不 符 | | | 流 通 | 德清县武康街道众 利五金商行 | 揭阳市鸿诚五金电子有 限公司 | 浙江方圆 检测集团 股份有限 | ...

以下文章来源于品牌观察官 ，作者曾有为 品牌观察官 . 品牌营销头部自媒体，汇聚前沿案例与策略，为广告、公关及营销人提供每日热点追踪、经典方法论解析及商业趋势洞察 11月10日上午，港交所的铜锣声又一次响起。 作者：曾有为 来源：品牌观察 官 哈工大高材生去一趟非洲就发现了商机，如今名副其实被"称王"。 这次是位特殊的新秀——乐舒适， 开盘价 34.98港元 ，首日暴涨 33.51% ， 募资狂揽23.8亿港元，总市值211.94亿。 | 最高:34.98 | 今开:34.98 | 成交量:1366.14万股 | | --- | --- | --- | | 最低:34.98 | 昨收:26.20 | 成交额:4.83亿 | | 52周最高: 34.98 | 量比: -- | 市盈率(动):29.28 | | 52周景低:1.02 | 委比: 13.17% | 市盈率(静): 28.70 | | 每股收益:1.22 | 股息(TTM): -- | 总股本:6.06亿 | | 每股净资产:6.12 | 股息率(TM): -- | 港股股本:6.06亿 | | 每手股数:200 | 最小价差:0.02 | 货币单位 ...

350 310% 300 250 210% 200 150 100 45% 50 -30% 0 女装休闲衫 女装夹克 男装保暖上衣 男装羊毛衫 双十一，越来越多的消费者选择在私域电商平台购买心仪好物。近日，梦饷科技发布2025年双十一销售战报，数据显示，男女装、运动户外、 日用家居、生鲜水果等多个核心类目实现了强劲增长。在品牌商家方面，全棉时代、赛兔、彤人秘、ELLE、艾莱依等多个知名品牌销售数据 同比大幅增长。 本次双十一，梦饷科技平台数据充分印证了消费市场的结构性新趋势。服装、运动户外、日用家居等核心一级品类均实现跨越式增长，多个细 分单品增速惊人，成为消费市场的"黑马"。 服饰赛道中，女装持续领跑，休闲衫、夹克等秋冬刚需单品同比分别增长310%和45%。男装领域同样表现强劲，保暖上衣增速超210%，羊毛 衫增长逾30%，品质化、功能性服饰成为男性消费主流。 户外生活方式热潮持续升温，冲锋裤同比增长382%，抓绒衣增幅达127%，运动羽绒服增长超53%，彰显出健康消费理念下的巨大市场潜力。 日用家居与生鲜品类增速迅猛，棉柔巾、洗衣液分别增长227%和近90%，反映了消费者对品质家居生活的追求。生鲜水果中， ...

Core Viewpoint - The company, Leshush, focuses on the hygiene products industry in emerging markets such as Africa, ranking first in sales of baby diapers and sanitary napkins in Africa in 2024, with market shares ranging from 40% to 60% in East and West Africa. The industry is in a growth phase, with significant potential for penetration increases due to low current market penetration rates compared to mature markets [1][4]. Company Overview - Leshush is a multinational hygiene products company specializing in baby diapers, pull-ups, sanitary napkins, and wet wipes, primarily targeting emerging markets in Africa, Latin America, and Central Asia. The company has evolved from a division of the SenDa Group, which began trading hygiene products in 2009, and has become a leading player in the hygiene products sector in multiple African countries [1][2]. Market Position and Performance - According to Frost & Sullivan, Leshush holds a market share of 20.3% in the baby diaper market and 15.6% in the sanitary napkin market in Africa as of 2024. The company's revenue is projected to grow from $320 million in 2022 to $454 million in 2024, with a CAGR of 19.2%. Adjusted net profit is expected to rise from $18.39 million to $97.67 million during the same period, reflecting a CAGR of 130.5% [1][2]. Product and Channel Strategy - The company has localized its products to meet local consumer preferences and has established a deep distribution network across more than 30 countries in emerging markets. It has built production facilities in eight African countries since 2018, allowing for cost reductions and competitive pricing against international brands [2][3]. Future Outlook - The hygiene products industry in emerging markets is expected to maintain rapid growth, driven by economic development and increasing penetration rates. The current penetration rates for baby diapers and sanitary napkins in Africa are approximately 20% and 30%, respectively, compared to 70%-90% in mature markets [4][5]. Expansion Plans - The company plans to expand its market presence in Latin America, Central Asia, and North and South Africa, leveraging its manufacturing and distribution experience. It aims to increase production capacity and strengthen channel development in regions where it has not yet achieved significant market share [5][6]. Backing and Growth Potential - Leshush is supported by the SenDa Group, which has extensive experience in international markets and a diverse portfolio. The company may pursue acquisitions in the hygiene sector to enhance its product offerings and market reach, benefiting from both organic and inorganic growth strategies [6].

Investment Rating - The report maintains a positive outlook on overseas growth and technology sectors, emphasizing the importance of identifying companies capable of navigating overseas cycles and accelerating domestic technology development [2][12]. Core Insights - The report highlights the impact of changes in the US interest rate stance on market sentiment, particularly affecting high-valuation sectors linked to overseas economies. It underscores the significance of finding resilient companies in overseas markets and the opportunity for domestic technology supply chain development [2][12]. - The report expresses optimism for the overseas and AI new materials sectors, citing the recent listing of "Le Shushi," a leading fast-moving consumer goods company in East and West Africa, as a notable addition to the overseas sector [2][12]. - In the traditional building materials and construction sectors, the focus has shifted to low-valuation or less-followed segments, with dividend policies becoming a key consideration. Companies are adapting to industry challenges by reducing capital expenditures and increasing dividends [3][13]. Summary by Sections Weekly Market Performance - The building materials index decreased by 6.46% during the week, with specific declines in glass manufacturing (-9.93%), fiberglass (-11.18%), and cement manufacturing (-6.06%) [17]. Price Changes in Building Materials - National cement prices slightly decreased by 0.4% week-on-week, with regional variations in price movements. Southern regions showed a slight increase in demand, while northern regions faced a decline due to weather conditions [26]. - The average price of float glass was reported at 1168.37 RMB/ton, reflecting a decrease of 2.26% week-on-week, with inventory levels increasing [38][52]. Sector Analysis - In the cement sector, the average price was 351 RMB/ton, down 78 RMB/ton year-on-year, with an average shipment rate of 45.7% [14]. - The fiberglass market showed stability in pricing, with the average price for 2400tex direct yarn at 3531.75 RMB/ton, a slight increase of 0.2% week-on-week [57]. - The report notes that the demand for construction materials remains weak, particularly in the completion phase, while retail segments show stable growth [16].

尼泊尔胶合板、卫生巾、纸尿裤、鞋类和水泥制造商近日表示，获取印度标准局认证的流程近期明显改 善，对印出口更加便利。这一变化源于今年1月尼印政府间委员会达成的共识，印度同意加快尼泊尔产 品的BIS认证流程。尼泊尔驻印度大使证实，目前认证效率已得到提升，大多数尼泊尔工厂能够更快获 得证书。此前，认证延迟是主要瓶颈。尼泊尔胶合板制造商协会主席表示，过去八个月行业面临严重延 误，而近一个月来企业已能按时收到证书。目前所有52家申请企业都有望获得认证。这一进展得益于尼 泊尔财政部长和驻印大使的积极推动，以及工商部长在双边会谈中的重点提议。其他行业同样受益。鞋 类、水泥、卫生巾和纸尿裤生产商均表示，认证流程明显改善，出口更加顺畅。数据显示，上一财年尼 泊尔对印出口胶合板70.9亿卢比、鞋类20.4亿卢比、水泥22.1亿卢比、卫生巾和纸尿裤3.56亿卢比。尼印 双边贸易总额达12.9万亿卢比。 ...

Summary of the Conference Call for稳健医疗 Company Overview - **Company**: 稳健医疗 (Steady Medical) - **Industry**: Medical Supplies and Health Consumer Products Key Points and Arguments 1. **Financial Performance**: In the first three quarters of 2025, the company reported a revenue increase of 30% year-on-year and a net profit increase of 32%, indicating a recovery growth phase post-pandemic driven by the synergy between the medical and consumer segments [2][3][31] 2. **Medical Segment Growth**: The high-end dressing business saw a revenue growth of 30% in 2024 with a gross margin exceeding 50%. The surgical consumables business, after consolidating GRI, experienced a growth rate close to 200%, becoming a key driver for the medical segment [2][3][31] 3. **Consumer Products Segment**: The health consumer products segment focuses on four core categories: wet and dry cotton towels, sanitary napkins, adult clothing, and children's clothing. The sanitary napkin business grew over 60%, making it the fastest-growing category in the consumer segment [2][3][31] 4. **Brand Strategy**: The company achieved significant success in the cotton towel and sanitary napkin markets through a "hit product" strategy, with products like ultra-soft cotton towels and medical-grade sanitary napkins seeing growth rates exceeding 300% and doubling, respectively [2][20][21] 5. **E-commerce Expansion**: The company is actively expanding its online channels, particularly in live-streaming e-commerce, which, although currently below the industry average, has significant growth potential and is expected to become a key driver for future performance [2][3][31] 6. **Mergers and Acquisitions**: Through acquisitions like GRI, the company has supplemented key categories and driven rapid growth in related businesses, enhancing its positioning as a one-stop procurement solution for consumables [2][15][31] 7. **Future Growth Projections**: The medical business is expected to maintain a growth rate of around 13% over the next two years, while the consumer products segment is projected to grow between 13% and 18%, indicating high-quality growth potential [3][31] 8. **Market Position**: In the low-value medical consumables industry, the company holds a competitive edge with a gross margin of 36.52%, higher than competitors like 澳美 and 正德 [10][31] 9. **International Market Strategy**: The company is enhancing its own brand development in international markets and expanding through cross-border e-commerce, focusing on both B2B and B2C channels [13][31] 10. **Product Structure**: The company’s main product categories include traditional wound care products, high-end dressings, surgical room consumables, disease control protection products, and health care products, with significant revenue contributions from each [14][31] Additional Important Insights 1. **Management and Ownership**: The actual controller, Mr. Li Jianxian, and his family hold nearly 70% of the shares, with a management team comprising experienced executives from both the medical and fast-moving consumer goods sectors [8][31] 2. **Market Dynamics**: The sanitary napkin market is experiencing significant changes, with traditional leading brands losing market share, providing opportunities for emerging brands like 奈斯公主 [28][29][30] 3. **Consumer Trends**: The company is focusing on enhancing brand image and values through various marketing strategies, including social media and live-streaming, to attract younger consumers [21][30] 4. **Challenges in Baby Clothing Segment**: The growth of the children's clothing segment is expected to be limited due to declining birth rates, with only single-digit growth projected for 2025 [19][23][31] This comprehensive summary captures the essential aspects of the conference call, highlighting the company's performance, strategic initiatives, and market positioning within the medical and consumer products sectors.

Group 1: Core Insights - The North American personal care market is experiencing intensified competition, with Procter & Gamble showing better profitability compared to revenue, while Kimberly-Clark is seeing efficiency improvements from its transformation efforts [1][2] - In the domestic market, upstream supply chain companies such as Yanjian, Jieya, and Nuobang have reported significant revenue growth of 17%, 107%, and 23% respectively, indicating a recovery in overseas orders [1][3] Group 2: Company Performance - Procter & Gamble reported global revenue of $22.39 billion and net profit of $4.75 billion for FY26Q1, reflecting a year-on-year increase of 3% and 20% respectively, with challenges in the North American market [2] - Kimberly-Clark's Q3 revenue reached $4.15 billion, with a net profit of $450 million, showing a slight revenue increase but a significant decline in net profit due to transformation costs [2] Group 3: Market Trends - The domestic personal care market is facing fierce competition, leading to increased sales expenses and weaker profit growth compared to revenue for many companies [3] - The upgrade of global disposable hygiene materials is accelerating, with a shift from internal competition to external expansion, particularly in the non-woven fabric supply chain [4] Group 4: Investment Recommendations - Companies with established global supply chain layouts, such as Yanjian, are recommended for investment due to the ongoing upgrade trend in overseas hygiene products [4] - Jieya is expected to benefit from increased orders in its wet wipes business, while Sturdy Medical is noted for its stable profitability amid diverse business growth [4]

近日，被誉为"非洲纸尿裤大王"的乐舒适（股票代码：02698.HK） 正式在香港联合交易所主板挂牌交易。 01 年入30亿，在香港IPO成功 这场爆火的背后，是一段长达15年的非洲深耕之路，更是中国品牌出海新兴市场的典型范本。而 "品牌化"与 "本土化"，正是其一路闯关的两大核心密 码。 "在非洲，每卖出5片纸尿裤，就有1片来自乐舒适。" 信息瞬间点燃资本市场，上市首日，乐舒适开盘价报34.98港元，较发行价26.20港元大幅高开33.5%，市值一度逼近200亿港元，虽次日股价回调为30.86港 元，但市值仍超186亿港元。 这句话并非夸大，乐舒适在非洲市场的地位确实令人瞩目。据弗若斯特沙利文数据，2024年销量乐舒适在非洲婴儿纸尿裤和卫生巾市场均排名第一，市场 份额分别为20.3%及15.6%。 回顾乐舒适的起家历程，从一开始就找准了核心方向。 2009年，凭借在非洲市场积累的实战经验，创始人精准锚定当地卫生用品的发展潜力，决心跳出同质化竞争，从打造自有品牌切入。 同年，首个婴儿纸尿裤品牌Softcare在加纳正式推出，凭借贴合本地需求的定位快速打开市场；后陆续推出针对年轻妈妈群体的品牌Maya、Veesp ...

Core Insights - Softcare Limited successfully listed on the Hong Kong Stock Exchange on November 10, 2025, becoming the first African consumer goods manufacturer to go public in Hong Kong [1] - On its first trading day, the company's stock closed at HKD 34.46, representing a 31.53% increase from the IPO price of HKD 26.20 [1] Company Overview - Founded in 2009, Softcare Limited is a multinational hygiene products company focused on emerging markets such as Africa, Latin America, and Central Asia [3] - The company specializes in the development, manufacturing, and sales of baby diapers, training pants, sanitary napkins, and wet wipes [3] - A significant portion of the company's revenue is derived from sales to African customers, establishing it as a leading player in the hygiene products industry across multiple African countries [3] Market Position - According to a report by Frost & Sullivan, Softcare Limited ranks first in Africa's baby diaper and sanitary napkin markets by volume in 2024, with market shares of 20.3% and 15.6%, respectively [3] - By revenue, the company ranks second in Africa's baby diaper and sanitary napkin markets, holding market shares of 17.2% and 11.9%, respectively [3] - Softcare Limited is the market leader in baby diaper markets in Ghana, Kenya, Côte d'Ivoire, Senegal, Cameroon, and Tanzania, as well as in sanitary napkin markets in Ghana, Senegal, Kenya, and Tanzania [3]