Prince Frog International Holdings Limited (HKG:1259) clarified on the rumours on the market share of the products and stated that it is unable to verify the details or sources of the rumours and finds no merits whatsoever in these rumours. The company is not aware of any reasons for decrease in the share price.

The company said that all information about the market shares of the company at the relevant time should be the information disclosed in the prospectus of the company and were extracted from the report prepared by Euromonitor International Ltd (Euromonitor), relating to the analysis of children care products market in China.

The company also stated that baby care products refers to personal care product(s) targeting babies from zero to three years old and children care products refers to personal care product(s) targeting children from four to 12 years old, which are separate market segments mutually exclusive to each other and the children moisturising lotions market is a sub-segment of the overall Children Care Market Segment.

The company clarified that as the approach and basic references made by the “fund manager” in arriving on its conclusions are wrong, the allegations on the inaccuracies of the company’s market share at the relevant time are inaccurate, without merits and done without due considerations of the appropriate reference materials.

The company also clarified that the company has never used, or officially sanctioned the use of any e-commerce platform as its official sales platform. The company is currently in the process of formulating an e-commerce strategy and an e-commerce platform and will make an announcement on its launch as and when appropriate. Any current sales of the company’s products on any e-commerce platforms are done without the official sanctions of the company and are irrelevant for use in estimating market share of the company’s products.

Source:chinesestock.org