Jinfa Labi Maternity & Baby Articles Co., Ltd.​

# Jinfa Labi Maternity & Baby Articles Co., Ltd. – 2025 Fiscal Year Corporate Overview Jinfa Labi Maternity & Baby Articles Co., Ltd. is a Shenzhen Stock Exchange-listed company (stock code: 002762.SZ) headquartered in Shantou, Guangdong Province, China. Operating under the "Labi Baby" brand, the company is a prominent brand operator and manufacturer specializing in maternal and infant products, with core business coverage spanning "wearable" and "utilitarian" categories for pregnant women and infants aged 0-3 years. The company employs an integrated production-supply-sales model combining self-designed R&D, core product self-manufacturing, and selective outsourcing, maintaining its own industrial park in Guangdong that encompasses weaving, dyeing, and garment manufacturing to ensure product quality control. The company generated approximately RMB 420 million in annual revenue in 2024, with maternal-infant consumer products accounting for approximately 85% of sales and maternal-infant services (including medical aesthetics) comprising the remaining 15%. Its distribution network includes approximately 1,200 offline stores, predominantly franchised locations concentrated in second, third, and fourth-tier cities across China, complemented by online presence on major e-commerce platforms including Tmall, JD.com, and Douyin. The company holds the distinction of being China's first A-share listed maternal-infant products enterprise, giving it unique capital market positioning for mergers and acquisitions. Jinfa Labi occupies a mid-market segment as a regional brand leader in South China, particularly in Guangdong, Hunan, Hubei, Jiangxi, and Sichuan provinces. The brand maintains strong recognition among price-conscious middle-class families seeking reliable, one-stop shopping convenience. However, the company faces significant strategic challenges, including subdued growth in its traditional maternal-infant consumer business, difficulties achieving synergy between its dual main businesses (products and medical services), and pressing need for brand revitalization to appeal to younger parent demographics (post-1985/1990 generations). The brand currently scores 680/1000 on heat rating metrics, indicating solid but traditional market positioning. Looking ahead to fiscal 2026, the company is pursuing a "聚焦主业、创新发展、产融结合" (Focus on Core Business, Innovation-Driven Development, Production-Finance Integration) strategy. Key initiatives include developing a "Safe Technology" brand concept with functional product lines (such as probiotic-infused innerwear and temperature-regulating sleep bags), implementing a digital transformation program to empower franchisees with smart store tools and private domain operations, leveraging its listed platform to build an investment ecosystem around the pregnancy-childbirth-parenting cycle, and deepening market penetration in core provinces through differentiated regional strategies.