Produced by Radar Finance Text | Edited by Mo Enmeng | Deep Sea
Who launched the first generation of wing-protecting sanitary napkins in China? Who was the first to develop and market night sanitary napkins? Who was the first to launch mini sanitary napkins?
Many girls may not know the answers to the previous series of questions, and the creator of this series of achievements is Jieting, a well-known sanitary napkin brand with a history of nearly thirty years.
As the man who single-handedly created Jieting, Liang Liangsheng relied on entering the daily chemical industry and has been the richest man in Hubei for many consecutive years. But now Liang Liangsheng no longer wants to continue running Jieting.
Recently, the A-share listed company Haoyue Care announced that it plans to acquire 100% of the equity of Sibao Care, a subsidiary of Sibao Co., Ltd. in cash, and Sibao Care is the company to which Jieting belongs. It is reported that the current initial comprehensive valuation of this equity acquisition transaction does not exceed 360 million yuan.
Regarding the acquisition plan, Haoyue Care stated that by integrating the resources of both parties, a synergy of business synergy and complementary resources will be formed to enhance the company's overall operational efficiency and market competitiveness. The signing of this agreement will not cause changes in the company's main business and business scope, nor will it have a significant impact on the company's production and operations.
Haoyue Care spent 360 million to acquire Jieting's company
On October 25, Haoyue Care issued an announcement announcing that the company planned to fully acquire Hubei Sibao Care Products Co., Ltd. (hereinafter referred to as "Sibao" in cash) Care") 100% equity.
The content of the announcement shows that on the day of the announcement, Haoyue Care has signed an "Equity Acquisition Intention Agreement" with Hubei Sibao Co., Ltd. (referred to as "Sibao Shares") and its wholly-owned subsidiary Sibao Care. A preliminary cooperation intention was reached on the matter.
-day eye check shows that Sibao Care was established in March 2022, with a registered capital of 100 million yuan, and is 100% wholly-owned by Sibao Co., Ltd.
The announcement shows that Sibao Care's brand care products such as Jieting, Quanyinai, and Meiyuejian have high visibility, reputation and integrity in the industry, and have good brand influence and brand value.
Radar Finance has learned that after the completion of this acquisition, Haoyue Care will gain complete control over Sibao Care. From the perspective of production and operation, Haoyue Care will inherit and take over all assets, liabilities, businesses, personnel, contracts and all other rights and obligations of Sibao Care; from the perspective of brand continuity, after the completion of this transaction, Haoyue Care We will continue to use the brand labels corresponding to Jieting, Meiyuejian and other products, so as to give full play to the long-term accumulated and well-maintained brand influence of the products.
Based on Haoyue Care’s preliminary assessment of Sibao Care’s business, finance and team, the comprehensive valuation of Sibao Care is tentatively determined to be no more than RMB 360 million. As for the final equity acquisition price, it will be negotiated and determined after all parties complete asset evaluation and due diligence, combined with performance commitments and market factors, and shall be subject to the formal acquisition agreement signed by all parties.
At the same time, with the release of this announcement, the recent main financial indicators of Sibao Care have also been announced. In 2023, Sibao Nursing achieved revenue of 542 million yuan, and the company's net profit during the same period was 13.7716 million yuan. In the first half of this year, Sibao Care once again achieved revenue of 320 million yuan, and the company's net profit during the same period reached 11.4453 million yuan.
As of the end of the first half of the year, Sibao Care’s total assets were 299 million yuan, and total liabilities were 170 million yuan. Based on this calculation, Sibao Nursing’s net assets are 129 million yuan.
Haoyue Care carried out this acquisition because it believes that this equity acquisition is in line with the company's overall strategic plan, will help the company expand its business areas, promote the development of its own brands, and provide the company with more business opportunities and growth. potential.
Haoyue Care further revealed that after this transaction, the two parties will fully exchange and exchange their respective resources and technologies, fully exert synergy in aspects such as procurement, production, research and development, and independent brand sales, and realize the company's production scale, product variety, and technical strength. , all-round improvement of brand influence and management operations, further enhancing the company's core competitiveness and sustainable profitability.
However, Haoyue Care emphasized in the announcement that the "Equity Acquisition Intention Agreement" signed this time is only a preliminary intention to establish a cooperative relationship between the two parties. The specific equity acquisition plan still needs to be completed by the parties after due diligence, auditing and asset evaluation. After further negotiation and implementation, the final terms of the transaction will be subject to the signing of a formal equity acquisition agreement.
Haoyue Care also stated that this equity acquisition is still in the planning stage and depends on the signing of the subsequent formal agreement between the parties to the agreement and the implementation and execution of the cooperation. At this stage, the impact on the company's operating performance this year cannot be predicted. Investors are advised to make prudent decisions and pay attention to investment risks.
The seller is headed by the former richest man in Hubei. He has previously sold brands such as Shulei.
As the seller, Sibao Group’s current business positions are mainly concentrated in the mainland, but in fact, Sibao Group’s entrepreneurial starting point began in Hong Kong, China. The founder It is Hubei tycoon Liang Liangsheng.
It is understood that Liang Liangsheng was born in Meizhou, Guangdong, and his life was quite difficult in his early years. In 1968, he went to the mountains of Meizhou as a middle school student to "go to the mountains and countryside". Although the conditions were very difficult back then, Liang Liangsheng never gave up his pursuit of knowledge, but instead worked hard. Under a lit kerosene lamp, he taught himself some college courses, laying a solid foundation for his subsequent business career.
In 1970, Liang Liangsheng entered the state-owned mine to work. A year later, he left his job as a miner and became a full-time league cadre, and went to the trade union to take charge of workers' spare time cultural life. After that, "Meijiang News" and "Guangdong Pictorial" lent him, and soon the Cultural Affairs Bureau assigned him to engage in photography.
In 1982, the spring breeze of reform and opening up brought a turning point for Liang Liangsheng, and he and his wife had the opportunity to develop in Hong Kong. While in Hong Kong, Liang Liangsheng insisted on going to night school every night to constantly enrich himself. Through systematic study, he has a deeper understanding of trade, economics, finance and other fields.
Fortunately, fate did not disappoint this young man full of fighting spirit. By chance, Liang Liangsheng learned about the huge demand in the domestic timber market through the Canton Fair, so he took action decisively, contacted mainland merchants and successfully made several big deals, thereby earning his first pot of gold.
Since 1986, Liang Liangsheng began in-depth market research. Through unremitting exploration, Liang Liangsheng discovered that cosmetics had unlimited imagination in the Chinese market at that time, and behind the huge population were huge business opportunities.
As a result, the keen-eyed Liang Liangsheng immediately began to look for collaborators in various places, but the process was not smooth at first. Liang Liangsheng almost searched several countries in Southeast Asia to no avail. Finally, with the help of the Hong Kong Trade Development Council, a family Japanese companies are willing to cooperate with him.
In 1989, Liang Liangsheng officially registered Silk Treasure Company in Hong Kong. In March of the same year, Sibao Company entered mainland China to develop its industry and established its domestic headquarters in Wuhan. In fact, since its establishment, Sibao Company has set its sights on the huge potential Chinese mainland market. The reason why Liang Liangsheng chose Wuhan, a city with "the thoroughfare of nine provinces", as the base camp of Silk Treasure was because of its strong radiation power. In addition, Liang Liangsheng has a close relationship with Wuhan. He is also a Ph.D. from Wuhan University.
In the same year that Sibao Company was founded, the first product of Sibao Group, Lihua Sibao Advanced Beauty Cream, was officially launched. The emergence of Lihuasibao high-end beauty cream has become a bright landscape in China's cosmetics industry.
However, the product that really made Sibo famous was the shampoo brand Shulei launched on the market in 1996.At that time, multinational companies represented by Procter & Gamble were flourishing, and cleansing and care brands such as Rejoice, Head & Shoulders, and Pantene were the first choice of many consumers in the market. In such a market environment, how Sibao can stand out has become a question that Liang Liangsheng has to think about.
After some thinking, Sibao did not start with high-end advertising like traditional brand promotion, but seized the important sales channel of stores. Since it always occupies the most conspicuous and valuable display space on the shelves in many shopping malls, Shulei has been able to establish a strong presence in the consumer market.
While others are still busy placing TV advertisements, Shulei has risen rapidly through its unique terminal marketing strategy. After this battle, Shulei's market share has been significantly improved. After the millennium, Shulei successfully grabbed the second top spot in the urban shampoo market where P&G was heavily fortified, breaking the monopoly of P&G, Unilever and other companies in the Chinese shampoo market for the first time.
The success of Shulei has injected strong impetus into the development of Sibao Group. Taking this opportunity, Sibao Group began to further break through P&G's monopoly on China's daily chemical market and launched a series of competitive brands. By 2001, Sibao Group had developed four major shampoo and hair care brands in the daily chemical market: Shulei, Meitao, Fengying and Shunshuang, with sales exceeding 2 billion yuan.
Under the leadership of Liang Liangsheng, Sibao has developed from an unknown small business into a large group company with many brands. With the help of his many brands, Liang Liangsheng became the richest man in Hubei for the first time in 2002, and has dominated the list for many consecutive years since then.
However, the empire that Shu Lei finally helped Sibao build began to loosen. As competitors continue to exert their efforts, Sibao Group's rapid growth has begun to slow down, and even experienced a significant decline. In 2006, Liang Liangsheng even had the intention to sell his daily chemical business.
In October of the following year, Beiersdorf of Germany spent 317 million euros to acquire 85% of the shares of Silk Treasure Daily Chemicals and became the controlling shareholder of Silk Treasure Daily Chemicals. This transaction was the first domestic daily chemical product after L'Oreal acquired Little Nurse in 2003. The largest merger and acquisition in the world at the time.
It is worth mentioning that the brands incubated and founded by Sibao are actually more than the ones mentioned above. With the opening of the World Trade Center at that time, domestic companies began to compete with overseas companies. Against this background, Sibao Group has also made a strong move into the female care track.
It is understood that Sibao Group originally planned to package and sell Shulei, Fengying, Shunshuang, Meitao and Jieting together, but Beiersdorf refused to acquire Jieting. In desperation, Sibao Group could only separate Jieting from the entire daily chemical system and rebuild the brand sales system.
In fact, Jieting can be regarded as a veteran player among domestic sanitary napkin brands. Since its establishment in 1997, Jieting has always adhered to the brand concept of excellence and innovation. In the field of sanitary napkins, Jieting not only took the lead in developing and launching night-use (1999) and mini (2001) sanitary napkins, leading the classification reform of sanitary napkin products, but was also one of the drafters of the national standard for sanitary napkins.
In the process of brand development, Jieting has also invited Xu Jinglei, Yang Mi, Zhao Liying, Guan Xiaotong and many other well-known actresses to endorse it. The support of these stars has undoubtedly enhanced Jieting's brand awareness and influence.
Although Jieting has such a glorious history, it is still facing increasing competition on the current sanitary napkin track. According to data released by research institutions, Jieting's market share in China's sanitary napkin industry remained at 1.2%-1.3% from 2017 to 2023, ranking only eighth among sanitary napkin brands. The brands ranked in front of Jieting include well-known brands such as Sophie, Seven Dimensions, Hushubao, Kotex, and ABC. These brands have higher visibility and more market share in the market.
Radar Finance learned that in 2020, the Shulei brand was acquired by Shumei Personal Care Products (Shenzhen) Co., Ltd., and the Shulei brand has returned to its home country. And Sibao Nursing, which Jieting belongs to, has now fallen into the fate of being acquired by others.
It is worth mentioning that Jieting, which has women as its customer base, was involved in questions about insulting women in March 2022. At that time, Jieting brand's official Weibo posted a tweet about Jieting's safety pants, but the perspective of the picture on the Weibo was quite strange. Many netizens said it looked like a candid perspective.
Afterwards, the Jieting brand issued an apology letter on Weibo, saying that it apologized for causing discomfort to everyone through the photos of advertising models wearing safety pants. Jieting also said that the brand has launched internal procedures to optimize management and will manage third-party operating agencies.
Haoyue Care’s performance is under pressure, and the acquisition may be intended to make up for its shortcomings
Then turn your attention back to Haoyue Care, which has extended an olive branch to Silk Treasure Care this time. As a company focusing on the research and development of maternal, child and adult health care products , manufacturing and sales enterprise, its products cover baby diapers, adult diapers, menstrual pants, sanitary napkins, wet wipes and other disposable hygiene products, mainly including baby hygiene products, adult hygiene products and other hygiene products.
Radar Finance learned from the official website of Haoyue Care that in the field of baby products, the company has brands such as Hope Baby, Born Star, Mamamia, sunnybaby, and nanakia; in the field of adult incontinence products, Haoyue Care has launched White Cross, Kangfurui for different customers. , Huiquan, Haonian and other series brands.
As for the field of female hygiene products that Jieting is deeply involved in, Haoyue Care is an early company that developed menstrual pants products. The products of the company's brand Senzhimonogatari include sanitary napkins, safety pants, etc. In addition, according to Haoyue Care’s financial report, its pet products segment also owns brands such as Sunshine Dog.
In addition to its own brand, Haoyue Care has also accumulated a diverse range of customers in the industry. The company's cooperative customers include world-renowned multinational companies such as , Unicharm, , and Kao, as well as well-known domestic maternal and infant brands in emerging e-commerce channels such as babycare, beaba, and Qinbaobao.
Although Haoyue Care has a seemingly rich product matrix, the company's current situation is not very optimistic. According to the 2023 annual report previously released by Haoyue Care, in the past year, Haoyue Care recorded revenue of 2.757 billion yuan, a decrease of 1.62% compared to the previous year’s revenue of 2.802 billion yuan; in terms of profit, Haoyue Care Last year's net profit attributable to the parent company was 439 million yuan, a slight increase of 3.72% compared to the previous year.
Regarding the company’s financial performance last year, Haoyue Nursing explained that the decline in revenue was mainly due to the company’s initiative to adjust the sales unit price after the price of raw materials dropped.
Specifically, baby hygiene products contributed 1.976 billion yuan in revenue to Haoyue Care last year, a year-on-year decrease of 2.79%, accounting for more than 70% of the company's total revenue. During the same period, adult hygiene products contributed 555 million yuan in revenue to the company, a year-on-year decrease of 10.61%, accounting for approximately 20% of the company's total revenue. As for other products, it achieved revenue of 148 million yuan last year, a year-on-year increase of 69.66%. This was mainly due to the increase in revenue from the company's wet toilet paper and wet wipes products.
On the same day that it announced its intention to acquire Sibao Care, Haoyue Care also released its financial results for the third quarter. The financial report shows that in the third quarter of this year, Haoyue Care's revenue increased by 1.45% year-on-year to 728 million yuan. However, if the time range is extended to the first three quarters, Haoyue Care's revenue of 2.041 billion yuan increased compared with the same period last year. The 1.62% decline continued last year's decline in revenue throughout the year.
As for the net profit indicator, whether it is the third quarter or the first three quarters, Haoyue Care's net profit has shown signs of decline. In the third quarter of this year, Haoyue Care's net profit attributable to its parent decreased by nearly 10% year-on-year to 100 million yuan; in the first three quarters, Haoyue Care's net profit attributable to its parent decreased by 5.06% year-on-year to 294 million yuan.
According to statistics from the China Paper Association and the Household Paper Professional Committee, my country's absorbent sanitary products market size will be 111.51 billion yuan in 2022, a decrease of 2.4% from 2021. Among them, the market size of female hygiene products is 65.02 billion yuan, an increase of 5.2% compared with 2021; the market size of infant hygiene products is 34.4 billion yuan, a decrease of 16.6% compared with 2021; the market size of adult incontinence products is 12.09 billion yuan, an increase of 7.9% compared with 2021.
Some analysts pointed out that the continued decline in the birth rate of newborns in recent years has brought unprecedented severe challenges to the infant hygiene products market. In this context, the performance of companies that, like Haoyue Care, rely more on baby hygiene products for revenue, will inevitably be affected. Therefore, Haoyue Care’s plan to acquire Sibao Care seems to have the purpose of optimizing and broadening its revenue structure to enhance market competitiveness. Compared with cultivating a new brand from scratch, directly absorbing Silky Care, which already has a certain consumer base, is undoubtedly a faster and more effective path.
In the 2023 annual report, Haoyue Care also mentioned the risk of declining infant birth rates: If China’s birth population continues to decrease in the future, it will affect the growth rate and prospects of the domestic infant hygiene products market.
In this regard, Haoyue Care will continue to consolidate its advantages in product innovation, technology research and development, production capacity and quality control, strive to develop new customers, and at the same time increase its own brand building efforts and continue to expand its presence in the baby hygiene products market. share; on the other hand, Haoyue Care will seize the opportunity of the rapid development of the adult diaper market and menstrual pants market to expand the sales scale and market share of adult incontinence products and female hygiene products to cope with the impact of the declining birth rate on the company's operations. adverse effects.
Perhaps affected by the news of this acquisition, Haoyue Care achieved a daily limit on October 28. However, on October 29, the company's stock price fell 7.94%, closing at 40.36 yuan. Produced by Radar Finance Text | Edited by Mo Enmeng | Deep Sea Who launched the first generation of wing-protecting sanitary napkins in China? Who was the first to develop and market night sanitary napkins? Who was the first to launch mini sanitary napkins? Many girls may not know the answers to the previous series of questions, and the creator of this series of achievements is Jieting, a well-known sanitary napkin brand with a history of nearly thirty years. As the man who single-handedly created Jieting, Liang Liangsheng relied on entering the daily chemical industry and has been the richest man in Hubei for many consecutive years. But now Liang Liangsheng no longer wants to continue running Jieting. Recently, the A-share listed company Haoyue Care announced that it plans to acquire 100% of the equity of Sibao Care, a subsidiary of Sibao Co., Ltd. in cash, and Sibao Care is the company to which Jieting belongs. It is reported that the current initial comprehensive valuation of this equity acquisition transaction does not exceed 360 million yuan. Regarding the acquisition plan, Haoyue Care stated that by integrating the resources of both parties, a synergy of business synergy and complementary resources will be formed to enhance the company's overall operational efficiency and market competitiveness. The signing of this agreement will not cause changes in the company's main business and business scope, nor will it have a significant impact on the company's production and operations. Haoyue Care spent 360 million to acquire Jieting's company On October 25, Haoyue Care issued an announcement announcing that the company planned to fully acquire Hubei Sibao Care Products Co., Ltd. (hereinafter referred to as "Sibao" in cash) Care") 100% equity. The content of the announcement shows that on the day of the announcement, Haoyue Care has signed an "Equity Acquisition Intention Agreement" with Hubei Sibao Co., Ltd. (referred to as "Sibao Shares") and its wholly-owned subsidiary Sibao Care. A preliminary cooperation intention was reached on the matter. -day eye check shows that Sibao Care was established in March 2022, with a registered capital of 100 million yuan, and is 100% wholly-owned by Sibao Co., Ltd. The announcement shows that Sibao Care's brand care products such as Jieting, Quanyinai, and Meiyuejian have high visibility, reputation and integrity in the industry, and have good brand influence and brand value. Radar Finance has learned that after the completion of this acquisition, Haoyue Care will gain complete control over Sibao Care. From the perspective of production and operation, Haoyue Care will inherit and take over all assets, liabilities, businesses, personnel, contracts and all other rights and obligations of Sibao Care; from the perspective of brand continuity, after the completion of this transaction, Haoyue Care We will continue to use the brand labels corresponding to Jieting, Meiyuejian and other products, so as to give full play to the long-term accumulated and well-maintained brand influence of the products. Based on Haoyue Care’s preliminary assessment of Sibao Care’s business, finance and team, the comprehensive valuation of Sibao Care is tentatively determined to be no more than RMB 360 million. As for the final equity acquisition price, it will be negotiated and determined after all parties complete asset evaluation and due diligence, combined with performance commitments and market factors, and shall be subject to the formal acquisition agreement signed by all parties. At the same time, with the release of this announcement, the recent main financial indicators of Sibao Care have also been announced. In 2023, Sibao Nursing achieved revenue of 542 million yuan, and the company's net profit during the same period was 13.7716 million yuan. In the first half of this year, Sibao Care once again achieved revenue of 320 million yuan, and the company's net profit during the same period reached 11.4453 million yuan. As of the end of the first half of the year, Sibao Care’s total assets were 299 million yuan, and total liabilities were 170 million yuan. Based on this calculation, Sibao Nursing’s net assets are 129 million yuan. Haoyue Care carried out this acquisition because it believes that this equity acquisition is in line with the company's overall strategic plan, will help the company expand its business areas, promote the development of its own brands, and provide the company with more business opportunities and growth. potential. Haoyue Care further revealed that after this transaction, the two parties will fully exchange and exchange their respective resources and technologies, fully exert synergy in aspects such as procurement, production, research and development, and independent brand sales, and realize the company's production scale, product variety, and technical strength. , all-round improvement of brand influence and management operations, further enhancing the company's core competitiveness and sustainable profitability. However, Haoyue Care emphasized in the announcement that the "Equity Acquisition Intention Agreement" signed this time is only a preliminary intention to establish a cooperative relationship between the two parties. The specific equity acquisition plan still needs to be completed by the parties after due diligence, auditing and asset evaluation. After further negotiation and implementation, the final terms of the transaction will be subject to the signing of a formal equity acquisition agreement. Haoyue Care also stated that this equity acquisition is still in the planning stage and depends on the signing of the subsequent formal agreement between the parties to the agreement and the implementation and execution of the cooperation. At this stage, the impact on the company's operating performance this year cannot be predicted. Investors are advised to make prudent decisions and pay attention to investment risks. The seller is headed by the former richest man in Hubei. He has previously sold brands such as Shulei. As the seller, Sibao Group’s current business positions are mainly concentrated in the mainland, but in fact, Sibao Group’s entrepreneurial starting point began in Hong Kong, China. The founder It is Hubei tycoon Liang Liangsheng. It is understood that Liang Liangsheng was born in Meizhou, Guangdong, and his life was quite difficult in his early years. In 1968, he went to the mountains of Meizhou as a middle school student to "go to the mountains and countryside". Although the conditions were very difficult back then, Liang Liangsheng never gave up his pursuit of knowledge, but instead worked hard. Under a lit kerosene lamp, he taught himself some college courses, laying a solid foundation for his subsequent business career. In 1970, Liang Liangsheng entered the state-owned mine to work. A year later, he left his job as a miner and became a full-time league cadre, and went to the trade union to take charge of workers' spare time cultural life. After that, "Meijiang News" and "Guangdong Pictorial" lent him, and soon the Cultural Affairs Bureau assigned him to engage in photography. In 1982, the spring breeze of reform and opening up brought a turning point for Liang Liangsheng, and he and his wife had the opportunity to develop in Hong Kong. While in Hong Kong, Liang Liangsheng insisted on going to night school every night to constantly enrich himself. Through systematic study, he has a deeper understanding of trade, economics, finance and other fields. Fortunately, fate did not disappoint this young man full of fighting spirit. By chance, Liang Liangsheng learned about the huge demand in the domestic timber market through the Canton Fair, so he took action decisively, contacted mainland merchants and successfully made several big deals, thereby earning his first pot of gold. Since 1986, Liang Liangsheng began in-depth market research. Through unremitting exploration, Liang Liangsheng discovered that cosmetics had unlimited imagination in the Chinese market at that time, and behind the huge population were huge business opportunities. As a result, the keen-eyed Liang Liangsheng immediately began to look for collaborators in various places, but the process was not smooth at first. Liang Liangsheng almost searched several countries in Southeast Asia to no avail. Finally, with the help of the Hong Kong Trade Development Council, a family Japanese companies are willing to cooperate with him. In 1989, Liang Liangsheng officially registered Silk Treasure Company in Hong Kong. In March of the same year, Sibao Company entered mainland China to develop its industry and established its domestic headquarters in Wuhan. In fact, since its establishment, Sibao Company has set its sights on the huge potential Chinese mainland market. The reason why Liang Liangsheng chose Wuhan, a city with "the thoroughfare of nine provinces", as the base camp of Silk Treasure was because of its strong radiation power. In addition, Liang Liangsheng has a close relationship with Wuhan. He is also a Ph.D. from Wuhan University. In the same year that Sibao Company was founded, the first product of Sibao Group, Lihua Sibao Advanced Beauty Cream, was officially launched. The emergence of Lihuasibao high-end beauty cream has become a bright landscape in China's cosmetics industry. However, the product that really made Sibo famous was the shampoo brand Shulei launched on the market in 1996.At that time, multinational companies represented by Procter & Gamble were flourishing, and cleansing and care brands such as Rejoice, Head & Shoulders, and Pantene were the first choice of many consumers in the market. In such a market environment, how Sibao can stand out has become a question that Liang Liangsheng has to think about. After some thinking, Sibao did not start with high-end advertising like traditional brand promotion, but seized the important sales channel of stores. Since it always occupies the most conspicuous and valuable display space on the shelves in many shopping malls, Shulei has been able to establish a strong presence in the consumer market. While others are still busy placing TV advertisements, Shulei has risen rapidly through its unique terminal marketing strategy. After this battle, Shulei's market share has been significantly improved. After the millennium, Shulei successfully grabbed the second top spot in the urban shampoo market where P&G was heavily fortified, breaking the monopoly of P&G, Unilever and other companies in the Chinese shampoo market for the first time. The success of Shulei has injected strong impetus into the development of Sibao Group. Taking this opportunity, Sibao Group began to further break through P&G's monopoly on China's daily chemical market and launched a series of competitive brands. By 2001, Sibao Group had developed four major shampoo and hair care brands in the daily chemical market: Shulei, Meitao, Fengying and Shunshuang, with sales exceeding 2 billion yuan. Under the leadership of Liang Liangsheng, Sibao has developed from an unknown small business into a large group company with many brands. With the help of his many brands, Liang Liangsheng became the richest man in Hubei for the first time in 2002, and has dominated the list for many consecutive years since then. However, the empire that Shu Lei finally helped Sibao build began to loosen. As competitors continue to exert their efforts, Sibao Group's rapid growth has begun to slow down, and even experienced a significant decline. In 2006, Liang Liangsheng even had the intention to sell his daily chemical business. In October of the following year, Beiersdorf of Germany spent 317 million euros to acquire 85% of the shares of Silk Treasure Daily Chemicals and became the controlling shareholder of Silk Treasure Daily Chemicals. This transaction was the first domestic daily chemical product after L'Oreal acquired Little Nurse in 2003. The largest merger and acquisition in the world at the time. It is worth mentioning that the brands incubated and founded by Sibao are actually more than the ones mentioned above. With the opening of the World Trade Center at that time, domestic companies began to compete with overseas companies. Against this background, Sibao Group has also made a strong move into the female care track. It is understood that Sibao Group originally planned to package and sell Shulei, Fengying, Shunshuang, Meitao and Jieting together, but Beiersdorf refused to acquire Jieting. In desperation, Sibao Group could only separate Jieting from the entire daily chemical system and rebuild the brand sales system. In fact, Jieting can be regarded as a veteran player among domestic sanitary napkin brands. Since its establishment in 1997, Jieting has always adhered to the brand concept of excellence and innovation. In the field of sanitary napkins, Jieting not only took the lead in developing and launching night-use (1999) and mini (2001) sanitary napkins, leading the classification reform of sanitary napkin products, but was also one of the drafters of the national standard for sanitary napkins. In the process of brand development, Jieting has also invited Xu Jinglei, Yang Mi, Zhao Liying, Guan Xiaotong and many other well-known actresses to endorse it. The support of these stars has undoubtedly enhanced Jieting's brand awareness and influence. Although Jieting has such a glorious history, it is still facing increasing competition on the current sanitary napkin track. According to data released by research institutions, Jieting's market share in China's sanitary napkin industry remained at 1.2%-1.3% from 2017 to 2023, ranking only eighth among sanitary napkin brands. The brands ranked in front of Jieting include well-known brands such as Sophie, Seven Dimensions, Hushubao, Kotex, and ABC. These brands have higher visibility and more market share in the market. Radar Finance learned that in 2020, the Shulei brand was acquired by Shumei Personal Care Products (Shenzhen) Co., Ltd., and the Shulei brand has returned to its home country. And Sibao Nursing, which Jieting belongs to, has now fallen into the fate of being acquired by others. It is worth mentioning that Jieting, which has women as its customer base, was involved in questions about insulting women in March 2022. At that time, Jieting brand's official Weibo posted a tweet about Jieting's safety pants, but the perspective of the picture on the Weibo was quite strange. Many netizens said it looked like a candid perspective. Afterwards, the Jieting brand issued an apology letter on Weibo, saying that it apologized for causing discomfort to everyone through the photos of advertising models wearing safety pants. Jieting also said that the brand has launched internal procedures to optimize management and will manage third-party operating agencies. Haoyue Care’s performance is under pressure, and the acquisition may be intended to make up for its shortcomings Then turn your attention back to Haoyue Care, which has extended an olive branch to Silk Treasure Care this time. As a company focusing on the research and development of maternal, child and adult health care products , manufacturing and sales enterprise, its products cover baby diapers, adult diapers, menstrual pants, sanitary napkins, wet wipes and other disposable hygiene products, mainly including baby hygiene products, adult hygiene products and other hygiene products. Radar Finance learned from the official website of Haoyue Care that in the field of baby products, the company has brands such as Hope Baby, Born Star, Mamamia, sunnybaby, and nanakia; in the field of adult incontinence products, Haoyue Care has launched White Cross, Kangfurui for different customers. , Huiquan, Haonian and other series brands. As for the field of female hygiene products that Jieting is deeply involved in, Haoyue Care is an early company that developed menstrual pants products. The products of the company's brand Senzhimonogatari include sanitary napkins, safety pants, etc. In addition, according to Haoyue Care’s financial report, its pet products segment also owns brands such as Sunshine Dog. In addition to its own brand, Haoyue Care has also accumulated a diverse range of customers in the industry. The company's cooperative customers include world-renowned multinational companies such as , Unicharm, , and Kao, as well as well-known domestic maternal and infant brands in emerging e-commerce channels such as babycare, beaba, and Qinbaobao. Although Haoyue Care has a seemingly rich product matrix, the company's current situation is not very optimistic. According to the 2023 annual report previously released by Haoyue Care, in the past year, Haoyue Care recorded revenue of 2.757 billion yuan, a decrease of 1.62% compared to the previous year’s revenue of 2.802 billion yuan; in terms of profit, Haoyue Care Last year's net profit attributable to the parent company was 439 million yuan, a slight increase of 3.72% compared to the previous year. Regarding the company’s financial performance last year, Haoyue Nursing explained that the decline in revenue was mainly due to the company’s initiative to adjust the sales unit price after the price of raw materials dropped. Specifically, baby hygiene products contributed 1.976 billion yuan in revenue to Haoyue Care last year, a year-on-year decrease of 2.79%, accounting for more than 70% of the company's total revenue. During the same period, adult hygiene products contributed 555 million yuan in revenue to the company, a year-on-year decrease of 10.61%, accounting for approximately 20% of the company's total revenue. As for other products, it achieved revenue of 148 million yuan last year, a year-on-year increase of 69.66%. This was mainly due to the increase in revenue from the company's wet toilet paper and wet wipes products. On the same day that it announced its intention to acquire Sibao Care, Haoyue Care also released its financial results for the third quarter. The financial report shows that in the third quarter of this year, Haoyue Care's revenue increased by 1.45% year-on-year to 728 million yuan. However, if the time range is extended to the first three quarters, Haoyue Care's revenue of 2.041 billion yuan increased compared with the same period last year. The 1.62% decline continued last year's decline in revenue throughout the year. As for the net profit indicator, whether it is the third quarter or the first three quarters, Haoyue Care's net profit has shown signs of decline. In the third quarter of this year, Haoyue Care's net profit attributable to its parent decreased by nearly 10% year-on-year to 100 million yuan; in the first three quarters, Haoyue Care's net profit attributable to its parent decreased by 5.06% year-on-year to 294 million yuan. According to statistics from the China Paper Association and the Household Paper Professional Committee, my country's absorbent sanitary products market size will be 111.51 billion yuan in 2022, a decrease of 2.4% from 2021. Among them, the market size of female hygiene products is 65.02 billion yuan, an increase of 5.2% compared with 2021; the market size of infant hygiene products is 34.4 billion yuan, a decrease of 16.6% compared with 2021; the market size of adult incontinence products is 12.09 billion yuan, an increase of 7.9% compared with 2021. Some analysts pointed out that the continued decline in the birth rate of newborns in recent years has brought unprecedented severe challenges to the infant hygiene products market. In this context, the performance of companies that, like Haoyue Care, rely more on baby hygiene products for revenue, will inevitably be affected. Therefore, Haoyue Care’s plan to acquire Sibao Care seems to have the purpose of optimizing and broadening its revenue structure to enhance market competitiveness. Compared with cultivating a new brand from scratch, directly absorbing Silky Care, which already has a certain consumer base, is undoubtedly a faster and more effective path. In the 2023 annual report, Haoyue Care also mentioned the risk of declining infant birth rates: If China’s birth population continues to decrease in the future, it will affect the growth rate and prospects of the domestic infant hygiene products market. In this regard, Haoyue Care will continue to consolidate its advantages in product innovation, technology research and development, production capacity and quality control, strive to develop new customers, and at the same time increase its own brand building efforts and continue to expand its presence in the baby hygiene products market. share; on the other hand, Haoyue Care will seize the opportunity of the rapid development of the adult diaper market and menstrual pants market to expand the sales scale and market share of adult incontinence products and female hygiene products to cope with the impact of the declining birth rate on the company's operations. adverse effects. Perhaps affected by the news of this acquisition, Haoyue Care achieved a daily limit on October 28. However, on October 29, the company's stock price fell 7.94%, closing at 40.36 yuan.
-
-
-
-
-
-
-
-
-
-