With the rise of &#34;going overseas&#34; businesses, many leading A-share companies have embarked on the journey of overseas capitalization.
As a medical device company that combines medical and consumer attributes, Winner Medical (300888.SZ) has also attracted attention for its overseas securitization plans.
On September 17, Winner Medical held a five-year anniversary event in Wuhan, where Chairman Li Jianquan responded to this topic: Overseas listing is not currently a focus of consideration.
&#34;I think overseas listing is not our current focus. Overall, no matter how many difficulties we face domestically today, China is still a country that maintains growth every year, and the consumer population is continuously increasing, so there is still a lot of room for development,&#34; Li Jianquan pointed out.
Li Jianquan further stated: &#34;Our products and brands need to go out, but does that necessarily mean we have to list overseas? I think at least for now, it is not something I am personally considering. If our team wants to discuss it, that’s fine. Personally, I feel it’s not the right time yet.&#34;
In fact, Winner Medical was listed on the US stock market from 2005 to 2012 and returned to the A-share market in September 2020.
This may indicate that, in the future, with the continuous growth of performance scale, Winner Medical may still initiate overseas listing plans.
After several years of fluctuations, Winner Medical's performance has gradually returned to the right track, with revenue and net profit attributable to the parent company for the first half of 2025 reaching 5.296 billion yuan and 492 million yuan, respectively, representing year-on-year growth of 31.31% and 28.07%.
Beyond the medical device business, an important highlight of Winner Medical's future performance lies in the consumer brand &#34;Cotton Era.&#34; In the first half of 2025, this brand generated revenue of 2.75 billion yuan, with a year-on-year growth of over 20%.
As of the end of June 2025, Cotton Era had a total of 484 existing stores.
According to the management plan of Winner Medical, the annual plan for new stores of Cotton Era in 2025 is set at 50, which is a reduction by half compared to previous plans.
In this regard, Liao Meizhen, Senior Vice President of Cotton Era, told that one reason is the decrease in new commercial real estate projects, leading to an overall reduction in the number of new stores; another reason is that the scale of newly opened stores is larger, and they no longer set up stores with an area of 100-200 square meters, mainly considering stores over 300 square meters.
Currently, Cotton Era is testing the waters by opening large flagship stores, with its first global flagship store set to open in Wuhan on September 20.
From the on-site visit to the store by, the main positioning of this flagship store is aimed at the mid-to-high-end population, with categories extending from ordinary home scenes to outdoor.
The flagship store covers an area of over 500 square meters, has three floors, and is adjacent to the high-end shopping mall SKP in Wuhan. The products include various home goods and outdoor sportswear under the Cotton Era brand, with sleepwear priced between 500 yuan and 1200 yuan.
Liao Meizhen told that, given suitable projects, Cotton Era plans to establish flagship stores in cities such as Beijing, Shanghai, Chengdu, Shenzhen, and Xi'an in the future.
&#34;Our choice of location in Wuhan also lays a foundation for us to enter more high-end shopping malls in the future,&#34; Liao Meizhen pointed out, &#34;but we will not blindly pursue having such flagship store buildings in Beijing, Shanghai, Guangzhou, and Shenzhen, as this is very cost-intensive.&#34;
&#34;If it exceeds our profit point requirements, we will not consider it, so we still need to look for suitable projects.&#34;
In the future, as the scale of stores continues to expand, whether the performance of Cotton Era can maintain double-digit growth is under scrutiny

300888

With the rise of "going overseas" business, many leading A-share companies have embarked on the journey of overseas capitalization. As a medical device company that combines medical and consumer attributes

Winner Medical is not considering overseas listing for the time being, and Cotton Era plans to add 50 new stores within the year