Hengan International Group Co Ltd

01044: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	HKD 58.00	Sfxtw	Lbsxlcnjk

Hengan: Rising Input Costs Exacerbate Challenges Amid Business Transition; Lowering FVE to HKD 49

Jacky Tsang , Jeanie Chen

Mar 22, 2022

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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