Guohai Securities research report pointed out that Winner Medical's cotton soft towels maintain the top position on e-commerce platforms, with impressive growth in sanitary napkins. According to data from Chanmama platform, the GMV of the Cotton Era brand on Douyin channel increased by 33% year-on-year during the period from June 1 to June 15; the GMV of the Nice Princess brand on Douyin channel increased by 204% year-on-year during the same period. According to data from Jiuqian platform, in May, the Nice Princess brand ranked 8th/5th on Tmall/JD in the sanitary napkin category, while the Cotton Era brand ranked 1st/1st on Tmall/JD in the facial towel category, indicating steady growth in e-commerce development. The company's dual-track strategy in medical and consumer sectors has synergistic advantages, and the growth potential of the dual brands, Winner Medical and Cotton Era, is promising. As the high base effect of the medical sector gradually fades under the impact of the pandemic, the layout of online public and private channels is leading, and the efficiency of offline stores is expected to steadily improve. The firm believes that the company's medical and consumer sectors are likely to continue to expand, maintaining a "Buy" rating
