HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

<ul>
<li>Softcare has established its core competitiveness of "low price + localization", and has achieved success in Africa. Softcare hopes to replicate its business model in Africa to other markets.</li>
<li>Emerging Markets have seen sustained growth in market penetration of baby/feminine hygiene products. We’re optimistic about Softcare's future performance growth due to “demographic dividend + consumption upgrade” in Emerging Markets.</li>
<li>Softcare has strong fundamentals and promising outlook. We think valuation of Softcare should be higher than <a href="https://www.smartkarma.com/entities/hengan-international-group-co-ltd" target="_blank" data-smartkarma-citation="entities:29:1" rel="noopener">Hengan International Group (1044 HK)</a> due to higher profit margin and future growth potential.</li>
</ul>


Softcare has established its core competitiveness of "low price + localization", and has achieved success in Africa. Softcare hopes to replicate its business model in Africa to other markets.
Emerging Markets have seen sustained growth in market penetration of baby/feminine hygiene products. We’re optimistic about Softcare's future performance growth due to “demographic dividend + consumption upgrade” in Emerging Markets.
Softcare has strong fundamentals and promising outlook. We think valuation of Softcare should be higher than Hengan International Group (1044 HK) due to higher profit margin and future growth potential.


Pre-IPO Softcare - Strong Performance Growth Momentum Would Continue

LANTIAN Group Holdings / Equity Capital Markets

<ul>
<li>The industry in which LANTIAN operates has basically bid farewell to the era of high-speed growth. The baby diaper products market is nearing saturation, with limited future growth potential.</li>
<li>The economy baby diaper products market is the last segment to bring alpha. However, it’s not easy for LANTIAN to break through considering strong international big names and local brands.</li>
<li>Profit margin of LANTIAN is low. If this is the characteristic of this industry, then baby diaper products isn’t a profitable business.Investors could have other options to achieve higher returns.</li>
</ul>


The industry in which LANTIAN operates has basically bid farewell to the era of high-speed growth. The baby diaper products market is nearing saturation, with limited future growth potential.
The economy baby diaper products market is the last segment to bring alpha. However, it’s not easy for LANTIAN to break through considering strong international big names and local brands.
Profit margin of LANTIAN is low. If this is the characteristic of this industry, then baby diaper products isn’t a profitable business.Investors could have other options to achieve higher returns.


Pre-IPO LANTIAN Group Holdings - The Industry Is Saturated, with Weak Profitability

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LANTIAN Group Holdings (LTG HK)

Pre-IPO Softcare - Strong Performance Growth Momentum Would Continue

Softcare's successful low price + localization business model in Africa will be replicated in other markets, with optimism for growth in Emerging...

Xinyao (Criss) Wang

Pre-IPO LANTIAN Group Holdings - The Industry Is Saturated, with Weak Profitability

The growth of industry in which LANTIAN operates is almost stagnant, with fierce competition/low profitability. LANTIAN's may soon hit a growth...

Xinyao (Criss) Wang

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Pre-IPO Softcare - Strong Performance Growth Momentum Would Continue

​Softcare's successful low price + localization business model in Africa will be replicated in other markets, with optimism for growth in Emerging...

Xinyao (Criss) Wang

Pre-IPO LANTIAN Group Holdings - The Industry Is Saturated, with Weak Profitability

The growth of industry in which LANTIAN operates is almost stagnant, with fierce competition/low profitability. LANTIAN's may soon hit a growth...

Xinyao (Criss) Wang

Softcare's successful low price + localization business model in Africa will be replicated in other markets, with optimism for growth in Emerging...