New Stock News | It is reported that ComfortDelGro is planning to launch a Hong Kong NDR in early March with the goal of holding a hearing at the Hong Kong Stock Exchange in the first half of this year.

According to Unicorn's early knowledge, Lux Comfort will launch its Hong Kong listing management NDR (non-deal roadshow) in early March, with an expected transaction size of approximately $200 million to $300 million. The target is to pass the Hong Kong Exchange hearing in the first half of 2025. Previously, Lux Comfort submitted its application to the Hong Kong Exchange on January 27th, with CICC, CITIC SEC, and GF SEC (Hong Kong) as joint sponsors. The prospectus shows that Lux Comfort is an international hygiene products company focusing on rapidly growing emerging markets in Africa, Latin America, Central Asia, etc. The company is mainly engaged in the development, manufacturing, and sales of baby diapers, pull-up pants, sanitary pads, and wet wipes for babies and women. According to a Frost & Sullivan report, based on sales in 2023, (i) the company ranks first in the baby diaper and sanitary pad markets in Africa, with market shares of 20.0% and 14.0% respectively; and (ii) the company ranks first in the baby diaper markets in Ghana, Kenya, Cote d'Ivoire, Senegal, Cameroon, and Tanzania, as well as the sanitary pad markets in Senegal, Kenya, and Tanzania. It is worth mentioning that almost all of Lux Comfort's flagship products are sold to African regions. During the reporting period, sales revenue generated in African regions accounted for 99.9%, 98.7%, and 98.2% of the annual revenue. With over 15 years of globalization strategy, the company has become a leading enterprise in the hygiene products industry in multiple African countries and is also an important participant in emerging markets. By establishing the company's overseas management team and local talent pipeline, the company has optimised its human resources through collaboration to achieve efficient operations across multiple countries. In addition, Lux Comfort has established a wide and in-depth sales network covering over 30 countries in Africa, Latin America, and Central Asia as of September 30, 2024. The company has set up 18 sales branches in 12 countries, with a wide sales network including over 2,500 wholesalers, distributors, supermarkets, and other retailers. With the help of the company's extensive sales network, the company achieved rapid growth during the performance period. In 2023, the sales volume of baby diapers and sanitary pads reached 3.714 billion pieces and 1.333 billion pieces respectively, with year-on-year growth of 24.0% and 39.1% respectively. Interestingly, despite the company's low-price strategy, the company's gross profit margin has seen a significant increase, reaching 23% in 2022 and a high of 35% in 2023. Financially, in the fiscal years 2022, 2023, the nine months ending September 30, 2023, and 2024, Lux Comfort's revenues were approximately 320 million, 411 million, 312 million, and 334 million, respectively. In the same periods, the annual/period profits were 18.39 million, 64.68 million, 46.909 million, and 72.282 million, respectively. It is reported that the proceeds from Lux Comfort's Hong Kong IPO this time are intended to be used to expand the company's overall capacity and upgrade its production lines; in marketing and promotion activities in Africa, Latin America, and Central Asia; to strategically acquire businesses in the hygiene products industry; to upgrade the company's CRM system and gradually implement it in the company's operations in multiple countries; to hire management consulting companies to analyze new markets and products and provide advice on strategy execution and corporate management; and to be used for operational funds and general corporate purposes.