HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Over 15 years' experience in both finance and healthcare, covering clinic operations, investment and equity research in both China and overseas.

Pre-IPO Bloks Group - High Growth May Not Be Sustainable

Pre-IPO Distinct Healthcare Holdings-  Hard to Deliver the Expected Returns Due to Growth Bottleneck

Pre-IPO Elpiscience Biopharmaceuticals - Will Investors Still Buy in These Stories?

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Equity Capital Markets

Eternal Beauty Holdings Limited / Equity Capital Markets

Eternal Beauty Holdings Limited (EBHL12 HK)

<ul>
<li>The essence of Eternal Beauty’s business model is to earn a “price difference” of the brand and product portfolios, but this business model is difficult to generate high profit margins.</li>
<li>The situation and prospects of China's perfume market are facing major changes. It‘s uncertain whether the perfume sales in the China market can maintain double-digit growth in the long term.</li>
<li>Eternal Beauty’s financial performance would face challenges due to changes in consumer preferences, shifts in China's domestic policies, international trade disputes, geopolitical conflicts, etc. Valuation could be lower than peers.</li>
</ul>


The essence of Eternal Beauty’s business model is to earn a “price difference” of the brand and product portfolios, but this business model is difficult to generate high profit margins.
The situation and prospects of China's perfume market are facing major changes. It‘s uncertain whether the perfume sales in the China market can maintain double-digit growth in the long term.
Eternal Beauty’s financial performance would face challenges due to changes in consumer preferences, shifts in China's domestic policies, international trade disputes, geopolitical conflicts, etc. Valuation could be lower than peers.


Pre-IPO Eternal Beauty Holdings - The Perfume Business in China May Not Be as Good as Expected