Hengan International Group Co Ltd

01044: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	HKD 76.00	Nhzl	Nlljwbv

Online and Tissue Paper to Drive Hengan's Top-Line Growth

Allen Cheng

Mar 22, 2021

Business Strategy and Outlook

Health and hygiene product manufacturer Hengan is one of the few Chinese firms on equal footing with global behemoths such as Procter & Gamble, Kimberly-Clark, and Unicharm in the Chinese market. The firm is China’s leading player in the tissue paper, sanitary napkin, and diaper industries, with 10%, 22%, and 12% market shares, respectively.

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