HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

Kidswant Children Products / Equity Capital Markets

<ul>
<li>Kidswant's growth has come to a standstill. The core driver of Kidswant's net profit growth came from the refined control of expenses, not the result of improvements in core business</li>
<li>Kidswant is facing the fading of the demographic dividend, intensified industry competition, and risk of business diversification. HK IPO might relieve short-term liquidity pressure but not a long-term solution</li>
<li>Kidswant, with its leading scale, member ecosystem, growth story, may enjoy a certain valuation premium. However, due to lower profit margin and growth rate, valuation could be lower than peer.</li>
</ul>


Kidswant's growth has come to a standstill. The core driver of Kidswant's net profit growth came from the refined control of expenses, not the result of improvements in core business
Kidswant is facing the fading of the demographic dividend, intensified industry competition, and risk of business diversification. HK IPO might relieve short-term liquidity pressure but not a long-term solution
Kidswant, with its leading scale, member ecosystem, growth story, may enjoy a certain valuation premium. However, due to lower profit margin and growth rate, valuation could be lower than peer.


Pre-IPO Kidswant Children Products (A/H Listing)- About the Business Model and Thoughts on Valuation

China

Kidswant Children Products Co., Ltd. operates maternal and child product stores. The Company retails children clothes, toys, books, snacks, pregnant women clothes, and other goods. Kidswant Children Products also provides child care consultation services.

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Kidswant Children Products (KWC HK)

Pre-IPO Kidswant Children Products (A/H Listing)- About the Business Model and Thoughts on Valuation

Kidswant's growth has stalled, facing competition/diversification risk. IPO may offer short-term relief but not long-term solution. Despite its...

Xinyao (Criss) Wang

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Pre-IPO Kidswant Children Products (A/H Listing)- About the Business Model and Thoughts on Valuation

​Kidswant's growth has stalled, facing competition/diversification risk. IPO may offer short-term relief but not long-term solution. Despite its...

Xinyao (Criss) Wang

Kidswant's growth has stalled, facing competition/diversification risk. IPO may offer short-term relief but not long-term solution. Despite its...