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Public company info - Cheerwin Group Limited , 06601.HK
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Cheerwin Group Limited, 06601.HK - Company Profile
Chairman Chen Danxia
Share Issued (share) 1,333,000,000
Par Currency U.S. Dollar
Par Value 2.0E-7
Industry Furniture & Household Goods
Corporate Profile Business Summary: The group is a leading one-stop multi-category household care and personal care platform in China, developing and manufacturing a variety of household care, personal care and pet care products. Performance for the year: The group’s gross profit margin steadily increased from 2017 to 2019, being 35.9%, 37.2% and 43.4% in 2017, 2018 and 2019, respectively. the group’s gross profit margin was 43.0% and 42.9% for the nine months ended September 30, 2019 and 2020, respectively. Business Review The group distribute the group’s products through an omni-channel sales network across China. the group’s household care products include a wide array of household insecticides and repellents such as mosquito coils and liquid vaporizers and a number of household cleaning products such as disinfectants, kitchen cleaners and toilet cleaners. the group’s air care products include a variety of air fresheners. the group’s personal care products include skin care products, hair and body care products, hand sanitizers and Florida Water. the group’s pet care product include a variety of pet shampoos and deodorants. the group ranked third among domestic companies in China’s household care industry in each of the past five years between 2015 and 2019, and ranked fourth among all companies in China’s household care industry, with a market share of 6.3% in 2019, in terms of retail sales value according to CIC, and have quickly established leading positions in various sub-categories of personal care and pet care. With the group’s commitment to creating a better life for Chinese families, the group continue to provide consumers with effective, convenient and safe products through product upgrades. The group’s Business Model The group have a vertically integrated business model that provides us control over the most critical elements of the value chain, including research and development, manufacturing, marketing and sales and distribution. the group have built a multi-category product portfolio, which can be broadly categorized into household care segment, personal care segment and pet care segment. the group manufacture certain of the group’s products at the group’s Panyu and Anfu Plants and outsource the manufacturing processes of certain products to Liby Group and other third party manufacturers. the group distribute the group’s products through an omni-channel sales network across China that allows us to reach a broad customer base in the group’s target markets. As of September 30, 2020, the group’s sales and distribution network primarily consisted of (i) an offline network of more than 1,200 distributors with approximately 620,000 points of sales across China, (ii) 48 key account clients, including operators of national and regional hypermarkets, supermarkets, department stores and convenience stores through Liby Group, covering approximately 11,000 points of sales, and (iii) online channels, including sales to consumers through the group’s 14 self-operated online stores on major e-commerce platforms, such as Tmall, and sales to a network of online third party distributors. THE GROUP’S INDUSTRY AND MARKET POSITION According to CIC, the group ranked third among domestic companies in China’s household care industry in each of the past five years between 2015 and 2019, and fourth among all companies in China’s household care industry, with a market share of 6.3% in 2019, in terms of retail sales value. the group have benefitted from the robust growth and favorable market trends of China’s household care industry. China’s household care industry is currently undergoing structural changes. The COVID-19 pandemic has caused an unprecedented impact on the global economy and increased consumers’ awareness of home and environment hygiene and demand for products that save housework time and safeguard personal health and hygiene. According to CIC, retail sales value of disinfectant products in China grew fastest among the sub-categories of China’s household care market in the first half of 2020, by approximately 40.0% year on year. The CAGR is expected to reach 18.4% from 2019 to 2024. In addition, the COVID-19 pandemic has further accelerated the growth of online shopping. In the first half of 2020, the retail sales value of household care products in e-commerce channels increased by about 40% over the same period last year, and the penetration of household care products in e-commerce channels reached approximately 25% in the first half of 2020, and is expected to reach 30% by 2024. the group believe that with the group’s leading market position, the group’s popular household brands, attractive product offerings and the group’s omni-channel distribution network, The group is best positioned to capitalize on the strong expected growth opportunities ahead in the household care industry in China. THE GROUP’S BRANDS AND PRODUCTS The group provide consumers with comprehensive household care, personal care and pet care product offerings, mainly under seven core brands, namely, Vewin (威王), Superb (超威), Babeking (貝貝健), Cyrin (西蘭), Rikiso (潤之素), Juejiang de Weiba (倔強的尾巴) and Dux (德是). Prospects: • Organization and talent strategy: to build a talent development system and an empowered organization that attracts external talents. • Brand strategy: to continue to implement the group’s highly customized strategy, and expand the group’s product offering to build an one-stop multi-category platform. • Channel strategy: to further strengthen the group’s omni-channel strategy, focusing on online channels and other new channels. • Marketing strategy: to implement a customized marketing strategy. • Supply chain strategy: to improve supply chain efficiency and flexibility and deploy overseas supply chains. • Digitalization strategy: to improve organizational and operational efficiency through digitalization.

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