The Liberty Point Brand 618 performed well. According to the 618 war report published on the company's official account on June 21, the company's Freedom Point brand ranked first in cumulative sales during the Douyin 618 promotion period (2024.5.20-6.18), with a year-on-year increase of more than 290%; ranked second in the Tmall women's care brand sales ranking (5.20-5.28), and sales increased more than 120% year-on-year during the 618 period (5.20-6.20, same below); ranked first in the Tmall supermarket's emerging brand list, with sales growth of more than 270% year-on-year; in the Pinduo sanitary napkin brand sales list It ranked second in the ranking, with a year-on-year increase of more than 380% in sales during the period; it reached the top of the personal care competition list twice on the JD platform, and sales also increased by more than 230% during the period. In terms of brand communication, the global exposure of the Liberty Point brand exceeded 1.5 billion during the 5.1-6.18 period, and brand searches increased by more than 330% over the same period last year. Over 1.4 million sets of Liberty Point probiotic pads were sold during the 618 period, making it a super single product with great results.
The advantages of e-commerce play are outstanding, and brand potential is spilling over. The company insists on investing heavily in the Douyin platform, while iterating the style of play, optimizing the product structure, and improving marketing efficiency. Douyin GMV maintained a high growth rate, the company continued to be number one, and the head effect was obvious. Tmall JD has benefited from the spillover of power from Douyin and Pinxuan. The growth trend has been improving over the past 24 years. While investment is increasing, it is expected to drive an increase in online profits.
Probiotic products occupy minds, and the product structure continues to improve. The company focuses on creating major probiotic products, focusing on the Douyin and Tmall platforms, and launching new probiotic PRO products, which is expected to further boost the brand's potential and increase the share of high-margin health products. The launch of health products and products has laid the foundation for continued high growth.
Profit forecasting and investment advice. The company's net profit for 24-26 years is estimated to be 3.3/44/540 million yuan, corresponding to a valuation of 31/23/19x. The industry is in a period of rapid growth. 618 has excellent operating performance. The company is given a 24-year 32xPE valuation, corresponding to a reasonable value of 24.25 yuan/share, maintaining a “buy” rating.
Risk warning. Risks such as international environmental uncertainty, exchange rate fluctuations, and raw material price fluctuations.