HK Stock Market Move | SOFT INTL (02569) rises over 22% against the market trend to hit a new high. It is now 70% higher than the IPO price. The company focuses on the baby and child care market.

SOFT INTL (02569) rose more than 22% against the market, hitting a high of HK$0.88 during trading hours, a new high compared to its IPO price of HK$0.51, representing a gain of over 72%. As of the time of writing, it was up 18.06% at HK$0.85, with a trading volume of HK$19.7596 million. Public information shows that SOFT INTL is mainly engaged in the development, production, and sales of disposable personal hygiene products in China, focusing on infant and child care products in the emerging markets of the Eurasian continent. According to a Frost & Sullivan report, based on export volume in 2023, the company is the second largest exporter of disposable infant and child care hygiene products from China to Russia, with an estimated market share of approximately 3.7% based on export volume of infant and child care hygiene products in 2023. From a financial standpoint, infant and child care products are SOFT INTL's flagship products. In terms of contract manufacturing revenue, sales of infant and child care products accounted for approximately 94.5%, 98.8%, 98.3%, and 87.6% of the company's reported revenue for the fiscal years from 2021 to 2023 and the first five months of 2024, respectively. It is worth noting that in recent years, the Russian market has become a major driver of rapid growth for SOFT INTL, with the share of revenue from this region increasing to 40%, 50.4%, and 57.7% from 2021 to 2023.