Good Children 28 On The Hong Kong Stock Exchange Sales Accounted For 22%

Mainland baby products

Good boy, China intends to raise funds 1 billion 250 million yuan tomorrow, with an admission fee of 3798 yuan.

Sixth this year

The number of new shares is 3 years low.

Big cities are volatile, and there are fewer fund-raising activities on the main board, and good children are sixth new shares in China.

According to Dealogic data, the number of new shares raised in Hong Kong since January has been three years low.

According to the sales document, good boy China intends to issue 333 million new shares, and the price per share is between 2.68 yuan and 3.76 yuan, compared with the forecast price earnings ratio of 2016, which is between 10 and 13 times, with a maximum fund raising of 1 billion 250 million yuan, and the sponsor is Morgan Stanley.

Good boy China was split from good boy International (01086) in 2010. According to Bloomberg, the international price earnings ratio of good children is 20 times.

App + mobile phone

22% sell online

Good children China mainly takes the sales of infant products combined with online and offline (O2O) as a soliciting. The management elaborated on the development strategy of "BOOM" at the lunch meeting of investors yesterday. The four main strategies include Brand portfolio, online channel (online channel), offline channel (offline channel) and mobile application (mobile app).

Good boy China sells mainly "good kids" brand items such as infant clothing and towels and other agents.

And 11 brands like Adidas.

At the end of October last year, there were 2046 offline stores in the country, and operated the official website of the children's official mall, the flagship store of the three party, such as Tmall and Dangdang, and the self developed mobile app "Mom good".

The group disclosed that there were 600 thousand active retail outlets on its own line, and that "Mom good" has been downloaded since August of last year, with 900 thousand downloads and 800 thousand pactions.

In the first 10 months of last year, the company's continuing business income increased by 20% to 3 billion yuan (RMB, the same below), 22% from the online, and 78% from the offline.

Fund wait and see

Stimulating effect of the second child policy

Some fund managers point out that the low fertility rate has become a trend in China, and the stimulating effect of the second child policy needs to wait and see.

Another fund manager pointed out that the good boy China mainly sells "online" investment story, but it is still mainly "offline" enterprises, and self run stores are mainly in shopping malls, and shopping malls are not good at the current situation.

Good boy, China's biggest expenditure after this fund-raising is the expansion of offline sales network, which accounts for 30% of the total amount of funds, and the target of adding 455 offline stores in 2016.

In the first 10 months of last year, sales of all brands in the same store increased by only 3.8%.

As for online infants and young businesses, the analysis shows that the competition in the domestic industry has been very intense, and there are already industry "unicorn" (that is, a start-up company valued at more than $1 billion).

Sequoia Capital has an investment of "Honey bud net", which raised $150 million in September last year, and its current valuation has reached US $1 billion (about HK $7 billion 800 million), with more than 5 million registered users, of whom 90% is mobile end consumption.