Blue Moon was founded in 1992. Its starting products were mist cleaners and toilet cleaning products. Its current best-selling products such as hand soap and laundry detergent are all "latecomers".

then started a peaking and falling pattern of 19.040 Hong Kong dollars, continuously falling below the 15 Hong Kong dollars and 10 Hong Kong dollars mark. The issue price of 13.16 Hong Kong dollars also fell below, and it did not bottom out until it fell to 5.750 Hong Kong dollars in August 2021. , a drop of more than 69.80%, which is even worse than being cut in half.

However, the net profits in the annual reports from 2017 to 2020 were all profitable. The 2018 annual report opened the "billion" era, recording 554 million; the 2019 annual report kicked off the "billion" level, recording 1.080 billion ; The 2021 annual report continued its efforts and recorded 1.309 billion.

So, the net profits in the annual reports for several consecutive years have been profitable, and they have been rising higher and higher in record numbers, but why has the stock price fallen in the opposite direction?

The reason why Blue Moon can break the monopoly of Procter & Gamble and Unilever relies on market share. It has ranked first for many years in a row. In other words, in terms of market share, Blue Moon has successfully defeated its opponents.

Since you can no longer compete with your opponents, you can only compete with yourself. Just like a line often seen when watching martial arts movies and TV series - "A person's biggest opponent is himself", then, Blue Moon, who has been stronger than his opponents for many years in a row , so what if you compare with yourself?

Let’s look at the total operating income of the annual report from 2017 to 2020. The total operating income in 2017 was 5.632 billion; in 2018, the total operating income exceeded 6 billion, recording 6.768 billion; in 2019, the total operating income continued to charge, exceeding 7 billion, recording 7.050 billion; total operating revenue in 2021 failed to continue the momentum of charging forward, and failed to stabilize above 7 billion. Instead, it returned to the 6 billion range, recording 6.996 billion, which was only a hair away from 7 billion.

Blue Moon’s total operating income also reflects its market share. Although it is more than its competitors and has maintained the number one position for many years, compared with itself, there has been no breakthrough since 2018. For speculation funds,

did not exceed expectations, let alone surprises beyond expectations. Even if there was a desire to speculate, it would be unknown. This is one of the factors why the stock price did not rise but fell.

It can be seen that whether it is an individual, a business, or a listed company, it is not difficult to defeat the opponent. What is difficult is to continuously defeat yourself.

In other words, if Blue Moon's secondary market trend wants to recover its losses from the issue price and achieve new success, it still has to continue to expand its territory on its own.

For investors, when choosing long-term investment targets, they should not just focus on the net profit in the financial report, but also look at other financial indicators such as total operating income, non-net profit and so on.

Warm reminder: This article is not a professional discussion. The data cited are from public data. Its accuracy is not guaranteed. It does not represent personal opinions and positions. Please screen carefully. All content is for learning and communication only and does not constitute investment advice. Investment is risky. , please be cautious when entering the market!