Hengan International Group Co Ltd

01044: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Hengan: Sanitary Napkins Remain a Near-Term Drag to Earnings; Retain Fair Value

Jacky Tsang

Dec 11, 2025

Soft consumer sentiment and stiff competition continue to weigh on the sanitary napkin sector, which is the major profit driver for Hengan.

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Hengan International Group Co Ltd

Hengan: Sanitary Napkins Remain a Near-Term Drag to Earnings; Retain Fair Value

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