In today’s briefing:
- Pre-IPO Beauty Farm Medical and Health Industry – Hard to Make Money Due to Industry Characteristics
Pre-IPO Beauty Farm Medical and Health Industry – Hard to Make Money Due to Industry Characteristics
- Beauty Farm Medical and Health Industry (BFM HK)’s solid growth has indicated that its business model works. But the industry tightening regulation and potential policy risk are our concerns.
- As a downstream company in this industry, we are conservative about Beauty Farm’s profitability. Its profit space could be limited. The Company has weak bargaining power in the whole industrial chain.
- Beauty Farm’s performance could continue to be under pressure due to weak recovery of domestic demand after three years of the pandemic, especially those non-rigid consumption demand.
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