Zhitong Financial APP learned that according to the disclosure of the Hong Kong Stock Exchange on February 8, Weimeizi Industrial (Guangdong) Co., Ltd. (hereinafter referred to as "Weimeizi") submitted an application for listing on the main board of the Hong Kong Stock Exchange, with Agricultural Bank of China International and BNP PARIBAS as co-sponsors.
Company profile
Weimeizi is a provider of oral care products that aims to improve consumers' oral health and hygiene through one-stop and diversified products. The company is mainly engaged in the development and sales of a diversified oral care product portfolio covering four major oral care product categories, namely, basic oral care for adults, basic oral care for children, electric oral care and professional oral care.
According to Frost Sullivan, Weimeizi ranks fourth in China's oral care market with 5.3% of the market share in terms of retail sales of all oral care products in 2020. In addition, the company is the largest provider of oral care products for children in China, with a market share of 20.4% (in terms of retail sales in 2020). The company also has the highest market share among Chinese whitening toothpaste brands, at 11.3% (in terms of retail sales in 2020). In addition, the company ranks fourth in China's electric oral care market with a 4.3% market share in terms of retail sales in 2020.
Products and sales
Weimeizi has two core brands, Saky and SakyKids. Among them, Shuke brand has been built into a high-profile oral care brand in China, and was recognized as a well-known trademark in China by the Trademark Office of the State Administration for Industry and Commerce in 2017. In addition, through seven years of professional operation and management, Shuke Baby brand has gained popularity and strong recognition among customers in China's oral care market. According to a survey conducted by Frost Sullivan, Shuke Baby is the most well-known brand in the Chinese children's oral care market and the most satisfactory brand for consumers.
In addition, according to Frost Sullivan, Weimeizi has the largest number of sub-product categories compared with the other five major oral care companies in China. As of the last feasible date, the company has 61 new and upgraded products under development.
In terms of sales network, Weimeizi has an omni-channel sales and distribution network, including a number of online and offline sales channels. As of September 30, 2021, Weimeizi's omni-channel sales and distribution network includes: an online channel consisting of 32 proprietary online stores and 48 online dealers on major e-commerce platforms, emerging social platforms and community group-buying platforms; as of September 30, 2021, it covers a network of 602 offline dealers and 32 key customers in 22 provinces, four municipalities and five autonomous regions in China.
Financial overview
Financially, in 2019, 2020 and the first nine months of 2021, Weimeizi's income was 1.662 billion yuan, 1.616 billion yuan and 1.23 billion yuan respectively, while the operating profit for the same period was 68.159 million yuan, 217 million yuan and 124 million yuan respectively.