Dividend and Capital Distribution - The company plans to distribute a cash dividend of 5 RMB per 10 shares to all shareholders, based on a total share capital of 164,030,506 shares, excluding 5,386,900 shares held in the repurchase account[6]. - The company has a total of 158,643,606 shares eligible for dividend distribution after accounting for repurchased shares[6]. - The company will also increase capital by issuing 4 additional shares for every 10 shares held, using capital reserves[6]. Financial Performance - The company's operating revenue for 2024 reached ¥1,765,776,266.98, representing a 29.26% increase compared to ¥1,366,090,534.21 in 2023[6]. - Net profit attributable to shareholders increased by 94.58% to ¥105,636,160.83 in 2024 from ¥54,290,476.45 in 2023[6]. - The cash flow from operating activities showed a significant improvement, with a net amount of ¥333,705,707.48 in 2024, compared to a negative cash flow of ¥91,790,732.77 in 2023, marking a 463.55% increase[6]. - Basic earnings per share rose to ¥0.65 in 2024, up 96.97% from ¥0.33 in 2023[6]. - Total assets at the end of 2024 were ¥1,550,851,157.65, a 15.25% increase from ¥1,345,698,396.64 at the end of 2023[6]. - The company reported a weighted average return on equity of 9.62% for 2024, up from 5.01% in 2023[6]. - The company’s net profit after deducting non-recurring gains and losses was ¥106,084,542.71 in 2024, a 97.46% increase from ¥53,724,429.13 in 2023[6]. - The government subsidies recognized in 2024 amounted to ¥7,506,394.59, significantly higher than ¥1,393,960.00 in 2023[31]. Market Trends and Opportunities - The company is positioned to benefit from the ongoing growth in the e-commerce sector, which is expected to reach a transaction volume of ¥46 trillion by 2025[37]. - The e-commerce sales in the household cleaning industry exceeded 110 billion yuan in the first half of 2024, with a year-on-year growth rate of nearly 20%[40]. - The global health supplement market was valued at approximately 273.24 billion USD in 2021, with projections indicating that China's market will reach 62.40 billion USD by 2025[42]. - The import value of nutritional health foods in China is expected to be 7.75 billion USD in 2024, reflecting a year-on-year growth of 15.10%[42]. Brand and Product Development - The company has served over 50 health brands since entering the health sector in 2016, establishing a competitive advantage with over 200 personnel dedicated to health supplement business[44]. - The company's self-owned brand LYCOCELLE has achieved consecutive year-on-year growth since its launch in 2020, leading multiple market segments on platforms like Tmall[47]. - The company has developed a strong product innovation capability, launching multiple successful products under its brands, including 18 unique fragrance types for its home cleaning brand[64]. - The company is enhancing its product development capabilities by leveraging advanced biotechnology and collaborating with top international fragrance companies to create innovative formulations and patented products[142]. Sales and Revenue Channels - The company reported a total online sales amount of 1,755.68 million CNY in 2024, with Tmall accounting for 28.98% of sales at 508.74 million CNY[57]. - The beauty and personal care category generated 594.73 million CNY, representing 33.87% of total sales, while household cleaning products accounted for 27.64% with 485.24 million CNY[57]. - The company has established a complete online and offline retail system, covering over 20 e-commerce platforms including Tmall, JD.com, Douyin, and Xiaohongshu[53]. - Online sales accounted for 97.11% of total revenue, amounting to approximately ¥1.71 billion, with a year-on-year growth of 26.72%[91]. Operational Efficiency and Management - The company aims to enhance operational efficiency through joint ventures, sharing procurement channels, and optimizing production processes[51]. - The company has implemented a digital and intelligent decision-making system, integrating AI technology to optimize supply chain management and enhance operational efficiency[87]. - The company has a comprehensive inventory management policy, including procurement planning and control, ensuring efficient stock management and timely updates on inventory status[58]. - The company has established a comprehensive talent development system, including multiple training programs to enhance team capabilities and support sustainable growth[90]. Risk Management and Compliance - The company has outlined potential risks in its future operations, which investors should be aware of[5]. - The company has established effective risk management strategies for derivative investments, including a comprehensive risk assessment process[122]. - The company is managing the risk of large accounts receivable by implementing effective collection policies and closely monitoring client relationships to reduce bad debt exposure[153]. - Regulatory changes in the e-commerce industry pose risks, and the company is committed to staying compliant with evolving regulations to mitigate potential penalties[152]. Governance and Shareholder Engagement - The board of directors consists of 7 members, including 3 independent directors, ensuring compliance with legal requirements[162]. - The company has maintained compliance with information disclosure regulations, ensuring transparency and protecting the rights of investors, particularly minority shareholders[167]. - The company has established a comprehensive governance structure covering information disclosure, investment, trading, auditing, and subsidiary management, supporting its healthy development[168]. - The company actively engages in investor relations activities, with multiple scheduled meetings throughout 2024[155].

Investment Rating - The report assigns an "Accumulate" rating for the company, indicating a positive outlook for investment [5][45]. Core Views - The company has a solid foundation in agency operations and is poised to unlock potential through its proprietary brands. It has established a competitive advantage in various sectors, including health products, maternal and infant care, beauty and personal care, and food and beverages [5][11]. - The company is transitioning from traditional agency operations to comprehensive brand management, which has led to significant revenue and profit growth since 2023 [19][21]. Summary by Sections Basic Data - Closing price: 47.27 CNY - Total market capitalization: 7,753.72 million CNY - Circulating market capitalization: 5,716.17 million CNY - Total shares: 164.03 million - Debt-to-asset ratio: 27.46% - Net asset per share: 6.17 CNY [3]. Financial Forecast and Valuation - Expected revenue for 2024-2026: 1.81 billion CNY, 2.34 billion CNY, and 2.76 billion CNY, with year-on-year growth rates of 32.4%, 29.2%, and 18.1% respectively - Expected net profit for the same period: 110 million CNY, 170 million CNY, and 220 million CNY, with year-on-year growth rates of 96.5%, 57.3%, and 28.9% respectively - Current price-to-earnings (PE) ratios are projected to be 73, 46, and 36 for the respective years [6][45]. Business Model and Growth Drivers - The company operates through three main business models: agency operations, brand management, and proprietary brands - The agency operations segment is expected to see a revenue decline initially, but brand management and proprietary brands are anticipated to drive significant growth, with expected revenue growth rates of 200%, 30%, and 15% for brand management, and 100%, 70%, and 35% for proprietary brands from 2024 to 2026 [10][43]. - The proprietary brand "Zhenjia" has shown remarkable growth, achieving 1.8 billion CNY in revenue in the first half of 2024, a 67.1% increase year-on-year [33]. Market Position and Competitive Advantage - The company has established itself as a leading digital brand management firm in China, serving over 100 well-known domestic and international brands - It has a strong presence in the e-commerce sector, with a focus on online sales, contributing to 99.1% of its revenue in 2023 [15][29]. - The company has successfully transitioned to a full-chain brand management model, enhancing its competitive edge in the market [19][21].

Group 1 - The core point of the announcement is that the controlling shareholder, Mr. Wang Yu, has pledged a portion of his shares in Guangzhou Ruoyuchen Technology Co., Ltd. [2] - The pledged shares do not involve any major asset restructuring or performance compensation obligations [2][4] - The controlling shareholder's credit situation is good, and he has the ability to repay the financing, with repayment sources being his own or self-raised funds [4] Group 2 - As of the announcement date, the total pledged shares by the controlling shareholder and his concerted parties are detailed, excluding shares locked by executives [3] - The pledge financing does not relate to the company's operational needs [4] - There is no risk of forced liquidation of the pledged shares, and the pledge does not materially affect the company's operations, governance, or performance obligations [4]

证券代码：003010 证券简称：若羽臣 公告编号：2025-028 广州若羽臣科技股份有限公司 关于控股股东部分股份质押的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、股东股份质押基本情况 广州若羽臣科技股份有限公司（以下简称"公司"或"本公司"）于近日接到 控股股东王玉先生的通知，获悉其所持有本公司的部分股份办理了质押业务，具体 事项如下： | | 是否为控 股股东或 | 本次质押 | 占其 | 占公司 | | 是否 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东 | 第一大股 | 数量 | 所持 | 总股本 | 是否为限 | 为补 | 质押起 | | 质押到 | 质权人 | 质押 | | 名称 | | | 股份 | | 售股 | 充质 | 始日 | | 期日 | | 用途 | | | 东及其一 | （股） | 比例 | 比例 | | 押 | | | | | | | | 致行动人 | | | | | | | | ...

Core Insights - The collaboration between RYTHM (若羽臣) and Aofei Data (奥飞数据) aims to enhance RYTHM's brand management capabilities through localized AI deployment, ensuring efficient and healthy development of its self-developed systems and full-link brand management business [1][3]. Group 1: Strategic Collaboration - Aofei Data will provide RYTHM with secure, stable, and efficient computing power support, driving innovation in RYTHM's brand business through comprehensive digital transformation [1][3]. - The partnership will enable RYTHM to integrate industry-level data assets with core business data assets, facilitating organic collaboration and value release of internal and external data resources [3][5]. Group 2: AI Deployment and Optimization - RYTHM plans to leverage Aofei Data's stable technical services to implement AI projects with a focus on data security, customizing AI models to meet diverse business scenarios [3][8]. - The company will build a group intelligence platform based on high-performance computing power to address multi-scenario operational needs, enhancing business efficiency and decision-making accuracy [7][8]. Group 3: Brand Strategy and Industry Leadership - RYTHM is committed to high-quality business development through digital empowerment, utilizing AI and big data for precise decision-making and operational advancement [8][9]. - The company has integrated advanced models like DeepSeek R1 and OpenAI GPT-4 to create a comprehensive digital decision-making model, optimizing product development, operational decisions, and supply chain management [8][9].

证券代码：003010 证券简称：若羽臣 公告编号：2025-027 广州若羽臣科技股份有限公司 关于注销回购股份减少注册资本暨通知债权人的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 1、申报时间：自 2025 年 4 月 15 日至 2025 年 5 月 29 日（工作日的 9:30-12:00； 14:00-18:00，双休日及法定节假日除外） 2、申报材料送达地点：广东省广州市海珠区鼎新路 8 号欢聚大厦 38 楼 联系人：证券部 联系电话：020-22198215 联系邮箱：ryczjsw@gzruoyuchen.com 3、申报所需材料 （1）可证明债权债务关系存在的合同、协议及其他凭证； （2）债权人为法人的，需同时提供法人营业执照副本、法定代表人身份证明 文件； 广州若羽臣科技股份有限公司（以下简称"公司"）分别于 2025 年 3 月 28 日、2025 年 4 月 14 日召开第四届董事会第六次会议、2025 年第二次临时股东大 会，审议通过了《关于变更回购股份用途并注销的议案》，同意对回购专用证券 账户中的 2024 年度第三期及 ...

关于广州若羽臣科技股份有限公司 2025 年第二次临时股东大会的 法律意见书 致：广州若羽臣科技股份有限公司 北京市中伦（广州）律师事务所（以下简称"本所"）受广州若羽臣科技股份 有限公司（以下简称"公司"）委托，指派本所律师邵芳、周昊臻（以下简称"本 所律师"）出席公司 2025 年第二次临时股东大会（以下简称"本次股东大会"）。 本所律师根据《中华人民共和国公司法》（以下简称"《公司法》"）、《上市公 司股东大会规则》等有关法律、法规、规范性文件及《广州若羽臣科技股份有限公 司章程》（以下简称"《公司章程》"）的规定，对公司本次股东大会进行见证并 出具法律意见。 广东省广州市天河区珠江新城华夏路 10 号富力中心 23 楼整层及 31 楼 01、04 单元 邮编：510623 23/F, Units 01 & 04 of 31/F, R&F Center, 10 Huaxia Road, Zhujiang New Town, Tianhe District Guangzhou, Guangdong 510623, P. R. China 电话/Tel : +86 20 2826 1688 传真/Fax : ...

证券代码：003010 证券简称：若羽臣 公告编号：2025-026 广州若羽臣科技股份有限公司 2025年第二次临时股东大会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 特别提示： 1、本次股东大会未出现否决议案的情形； 2、本次股东大会不涉及变更以往股东大会已通过的决议。 （1）现场会议：2025 年 4 月 14 日（周一）14:30 （2）网络投票：2025 年 4 月 14 日，其中通过深圳证券交易所交易系统进行网 络投票的具体时间为 2025 年 4 月 14 日 9:15-9:25，9:30-11:30 和 13:00-15:00； 通过深圳证券交易所互联网投票系统（http://wltp.cninfo.com.cn）投票的具体 时间为：2025 年 4 月 14 日 9:15-15:00 期间的任意时间。 2、现场会议召开地点：广东省广州市海珠区鼎新路 8 号欢聚大厦 38 楼会议室 3、会议召集人：广州若羽臣科技股份有限公司董事会 4、投票方式 ：本次会议采取现场投票与网络投票相结合的方式召开。本次股 东大会通过深圳证券交易所交易 ...

Group 1 - The stock price of Ruoyuchen (003010) closed at 42.21 yuan on April 1, 2025, down 4.02% with a turnover rate of 3.33% and a trading volume of 40,300 lots, resulting in a transaction amount of 172 million yuan [1] - On April 1, 2025, the net outflow of main funds was 1.4503 million yuan, accounting for 0.84% of the total transaction amount, while retail investors had a net inflow of 2.0391 million yuan, accounting for 1.18% of the total transaction amount [2][4] - The company announced a share repurchase plan on February 19, 2025, with a total repurchase amount not less than 100 million yuan and not exceeding 200 million yuan, with a maximum repurchase price of 42.40 yuan per share [2] Group 2 - As of March 31, 2025, the company had repurchased a total of 292,100 shares, accounting for 0.18% of the total share capital, with a total transaction amount of approximately 9.42 million yuan [3][4] - The highest repurchase price was 34.21 yuan per share, and the lowest was 30.14 yuan per share [3]

广州若羽臣科技股份有限公司 关于股份回购进展情况的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 证券代码：003010 证券简称：若羽臣 公告编号：2025-025 根据《上市公司股份回购规则》《深圳证券交易所上市公司自律监管指引第 9号——回购股份》等有关规定，公司在回购期间，应当在每个月的前三个交易 日内披露截至上月末的回购进展情况。现将公司回购股份的进展情况公告如下： 一、回购进展情况 截至2025年3月31日，公司通过股份回购专用证券账户以集中竞价方式已累 计回购公司股份292,100股，占公司目前总股本的0.18%，回购的最高成交价为 34.21元/股，最低成交价为30.14元/股，成交总金额为9,423,747.00元（不含交 易费用）。 本次回购符合相关法律法规的规定和公司回购股份方案的要求。 二、其他说明 公司回购股份的时间、回购股份数量、回购股份价格及集中竞价交易的委托 时段符合《深圳证券交易所上市公司自律监管指引第9号——回购股份》的相关 规定。具体如下： 1、公司未在下列期间内回购股份： （1）自可能对本公司证券及其衍生品种交易价格产生 ...