Story of the day
China's Traditional Chinese Medicine (TCM) consumer products market has expanded as growing disposeable income, an ageing population, and declining health in younger generations led to increased demand.
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What does this mean for your portfolio?
With new government policies supporting industry growth, the TCM sector’s CAGR set to exceed the 15% growth seen in 2016-2020. Beijing aims to double the market size in the next 10 years.
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Leading company in the sector
Pientzhuang is our top pick as it has the strongest growth potential. The company owns scarce musk resources and a top secret formula, and recently enriched its product line and strengthened its resource advantages through mergers and acquisitions.
It has been maintaining steady growth since its listing and DBS Group Research expects its earnings growth to register a CAGR of 39% for FY21-23.
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