Sell Hengan (1044 HK): Relationships, Churn & Margin Pressure. Target HK$38 (Down 50%)
We are concerned that Hengan’s governance leaves minorities vulnerable, their accounts create false confidence in credit quality; and that business...
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Sector Capsule: Nappies/Diapers/Pants in the Philippines
Nappies/diapers/pants registered current value growth of 5% in 2017, to reach sales of PHP18.8 billion. Consistent aggressive promotions and new...
119 Views
Sector Capsule: Wipes in China
Wipes increased by 12% in retail current value terms in 2017, to reach CNY4.3 billion Increasing hygiene awareness amongst consumers supports the...
102 Views
Sector Capsule: Nappies/Diapers/Pants in China
Nappies/diapers/pants recorded retail current value growth of 10% in 2017, as value sales rise to CNY54.0 billion The two-child policy supported...
133 Views
China Consumers - Chinese Prefer Japanese Diapers - We Go Shopping to Find Out
China has the highest level of consumer confidence in the world. China disposable income up 7.3% YoY. China napkins and diaper segments grew 11%...
336 Views