Elevator Pitch
Hong Kong-listed Asian hygiene company Vinda International Holdings Limited (VDAHF) (VDAHY) [3331:HK] manufactures and sells tissue and personal care products under nine key brands Vinda, Tempo, Tork, TENA, Dr. P, Libresse, VIA, Libero, and Drypers.
Vinda should continue to see solid earnings growth in the near-term driven by low wood pulp prices and an increased revenue contribution of higher-margin premium brands and products. Price competition resulting from low pulp prices and a higher-than-expected level of promotional activity due to the annual Double 11 shopping festival and an early Chinese