---
title: "Shenwan Hongyuan Research: Haoyue Care's main business recovery and brand efforts, maintaining a \"Buy\" rating"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/243053957.md"
description: "Shenwan Hongyuan Research pointed out that Haoyue Care's revenue performance is good in the fourth quarter of 2024 and the first quarter of 2025, with a recovery in the growth of its main business of baby diapers, and the Jieting sanitary napkin brand is also gaining momentum. With the increase in the number of newborns, the demand in the domestic baby diaper industry is improving, and Haoyue continues to increase its market share. Based on these factors, the \"Buy\" rating for Haoyue Care is maintained"
datetime: "2025-06-04T08:00:21.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/243053957.md)
  - [en](https://longbridge.com/en/news/243053957.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/243053957.md)
---

# Shenwan Hongyuan Research: Haoyue Care's main business recovery and brand efforts, maintaining a "Buy" rating

Shenwan Hongyuan Research pointed out that Haoyue Care's revenue performance in Q4 2024 and Q1 2025 is impressive. The main business of baby diapers is experiencing growth recovery, and the "Jieting" sanitary napkin brand is gaining momentum, with fundamentals and valuations expected to receive a double boost! In 2024, there will be 9.54 million newborns in the country, a year-on-year increase of 5.8%, marking the first positive year-on-year growth in recent years. With the increase in the number of newborns, the demand in the domestic baby diaper industry is improving, while Haoyue continues to increase its market share in the domestic baby pants market, leading to a recovery in the company's baby pants OEM main business growth. Considering the recovery of the company's main business and brand efforts, we maintain a "Buy" rating

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