Core Insights - The company RuYuchen (若羽臣) reported a significant increase in revenue and net profit for Q3 2025, with revenue reaching 819 million yuan, a year-on-year growth of 123.4% [1] - The self-owned brand business showed remarkable performance, generating 451 million yuan in revenue, a year-on-year increase of 344.5%, accounting for 55.1% of total revenue [1] Group 1: Financial Performance - For the first nine months of 2025, the company achieved a total revenue of 2.138 billion yuan, an 85.3% increase compared to the same period last year [1] - The net profit attributable to shareholders for the same period was 105 million yuan, reflecting an 81.6% year-on-year growth [1] Group 2: Brand Performance - The brand "ZhanJia" generated 227 million yuan in revenue during Q3, marking a 118.9% increase, and accumulated 680 million yuan in revenue for the first nine months, a growth of 148.6% [1] - "ZhanJia" maintained a strong position in the home cleaning sector, ranking in the top 3 on Tmall for clothing cleaning category stores and top 4 on Douyin for clothing cleaning agents [1] Group 3: Product Development and Market Strategy - "ZhanJia" launched a new liquid Marseille soap dishwashing liquid in August, which quickly became the top-rated dishwashing liquid on Tmall [2] - "FeiCui" experienced explosive growth with Q3 revenue of 203 million yuan, a quarter-on-quarter increase of over 98.8%, and a total of 362 million yuan for the first nine months [2] - "FeiCui" successfully expanded its product line to 10 items, enhancing product experience and driving steady increases in repurchase rates [2] Group 4: New Brand Launch - The new brand "NiuYiBei" launched in June 2025, achieving revenue of 12.126 million yuan by September, focusing on high cost-performance single products in the dietary supplement market [3] - The brand's GMV growth rate exceeded three times month-on-month in August and September [3] Group 5: Brand Management Business - The brand management business generated 204 million yuan in revenue for Q3, a year-on-year increase of 114.1%, and a total of 539 million yuan for the first nine months, reflecting a 71.1% growth [3] - The company aims to continue focusing on self-owned brand development while maintaining steady growth in brand management and e-commerce operations [3]

Core Insights - The company RYUCHEN (003010.SZ) reported a significant increase in revenue and net profit for Q3 2025, with revenue reaching 819 million yuan, a year-on-year growth of 123.4% [1] - The company's self-owned brand business showed remarkable performance, generating 451 million yuan in revenue, a year-on-year increase of 344.5%, accounting for 55.1% of total revenue [1] Group 1: Financial Performance - For the first nine months of 2025, the company achieved a cumulative revenue of 2.138 billion yuan, an increase of 85.3% compared to the same period last year [1] - The net profit attributable to shareholders for the same period was 105 million yuan, reflecting an 81.6% year-on-year growth [1] Group 2: Brand Performance - The brand ZHANJIA generated 227 million yuan in revenue for Q3, marking a year-on-year increase of 118.9%, and accumulated 680 million yuan in revenue for the first nine months, a growth of 148.6% [1] - ZHANJIA maintained a strong market position, ranking in the top 3 for clothing cleaning on Tmall and top 4 for self-operated brands on Douyin [1] Group 3: Product Development and Market Strategy - ZHANJIA launched a new liquid Marseille soap dishwashing liquid in August, which quickly became the top-rated dishwashing liquid on Tmall [2] - The brand SUIYI experienced explosive growth, with Q3 revenue reaching 203 million yuan, a quarter-on-quarter increase of over 98.8% [2] - The brand NUIYIBEI, launched in June, achieved revenue of 12.126 million yuan by September, focusing on high-cost performance products in the dietary supplement market [3] Group 4: Business Strategy and Future Outlook - The company's brand management business generated 204 million yuan in revenue for Q3, a year-on-year increase of 114.1% [3] - The company plans to continue focusing on self-owned brand development while maintaining steady growth in brand management and e-commerce operations [3]

广州若羽臣科技股份有限公司 章程 二〇二五年十月 1 | 第一章 | 总则 | 4 | | | --- | --- | --- | --- | | 第二章 | | 经营宗旨和范围 5 | | | 第三章 | 股 | 份 | 6 | | 第一节 | | 股份发行 6 | | | 第二节 | | 股份增减和回购 | 7 | | 第三节 | | 股份转让 8 | | | 第四章 | | 股东和股东会 9 | | | 第一节 | | 股东 | 9 | | 第二节 | | 控股股东和实际控制人 | 12 | | 第三节 | | 股东会的一般规定 13 | | | 第四节 | | 股东会的召集 | 15 | | 第五节 | | 股东会的提案与通知 17 | | | 第六节 | | 股东会的召开 | 18 | | 第七节 | | 股东会的表决和决议 21 | | | 第五章 | 董事会 | | 26 | | 第一节 | | 董事 26 | | | 第二节 | | 董事会 30 | | | 第三节 | | 独立董事 35 | | | 第四节 | | 董事会专门委员会 38 | | | 第六章 | | 高级管理人员 40 | ...

证券代码：003010 证券简称：若羽臣 公告编号：2025-098 广州若羽臣科技股份有限公司 关于变更注册资本及修订《公司章程》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。 广州若羽臣科技股份有限公司（以下简称"公司"）于 2025 年 10 月 28 日 召开第四届董事会第十一次会议，审议通过了《关于变更注册资本及修订<公司 章程>的议案》，具体内容公告如下： 2025 年 9 月 4 日，公司 2025 年第三次临时股东会审议通过了 2025 年半年 度利润分配及资本公积金转增股本方案，以实施分配方案时股权登记日的总股本 222,185,340 股为基数，向全体股东每 10 股派 3 元（含税），以资本公积金向 全体股东每 10 股转增 4 股。本次权益分派共计转增 88,874,136 股，公司股份总 数由 222,185,340 股变更为 311,059,476 股，注册资本由 222,185,340 元变更为 311,059,476 元。 综上，公司股份总数拟由原来的 218,670,276 股变为 311,059,476 股，注册 资 ...

证券代码：003010 证券简称：若羽臣 公告编号：2025-099 广州若羽臣科技股份有限公司 关于召开公司 2025 年第四次临时股东会的通知 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、召开会议的基本情况 1、股东会届次：公司 2025 年第四次临时股东会 2、股东会的召集人：董事会 3、本次会议的召集、召开符合《中华人民共和国公司法》《深圳证券交易所股票上 市规则》《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》等 法律、行政法规、部门规章、规范性文件及《公司章程》的有关规定。 4、会议时间： （1）现场会议时间：2025 年 11 月 13 日 14:30 （2）网络投票时间：通过深圳证券交易所系统进行网络投票的具体时间为 2025 年 11 月 13 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易所互联网投票系统投 票的具体时间为 2025 年 11 月 13 日 9:15 至 15:00 的任意时间。 5、会议的召开方式：现场表决与网络投票相结合。 6、会议的股权登记日：20 ...

证券代码：003010 证券简称：若羽臣 公告编号：2025-096 广州若羽臣科技股份有限公司 第四届董事会第十一次会议决议公告 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。 一、董事会会议召开情况 广州若羽臣科技股份有限公司（以下简称"公司"）第四届董事会第十一次 会议通知于 2025 年 10 月 24 日以电子邮件形式送达全体董事，会议于 2025 年 10 月 28 日上午 10:30 在广州市海珠区鼎新路 8 号欢聚大厦 38 楼会议室以现场结合 通讯表决形式召开。会议应出席董事 7 名，实际出席 7 名。本次会议的召集、召 开及表决程序符合《中华人民共和国公司法》等法律法规、规范性文件以及《广 州若羽臣科技股份有限公司章程》（以下简称"《公司章程》"）的有关规定。 会议由董事长王玉先生主持召开，公司高级管理人员和董事会秘书列席了会议。 全体与会董事经认真审议和表决，形成以下决议： 二、董事会会议审议情况 与会董事对本次会议议案进行了充分讨论，审议并通过了以下议案： 1、审议通过《公司 2025 年第三季度报告》； 表决结果：7 票同意，0 票反 ...

Financial Performance - In Q3 2025, the company achieved revenue of 819.44 million yuan, a year-on-year increase of 123.4%[5] - The net profit attributable to shareholders was 32.51 million yuan, reflecting a growth of 73.2% compared to the same period last year[5] - For the first nine months of 2025, total revenue reached 2.14 billion yuan, up 85.3% year-on-year, with net profit of 104.77 million yuan, an increase of 81.6%[5] - The company's total assets as of the end of the reporting period were 1.80 billion yuan, a 16.32% increase from the previous year[9] - The basic earnings per share for Q3 were 0.08 yuan, reflecting a 21.93% increase year-on-year[9] - Total operating revenue for the period reached ¥2,138,402,218.28, a significant increase from ¥1,154,028,030.28 in the previous period, representing an 85.4% growth[25] - Total operating costs amounted to ¥2,050,758,202.81, up from ¥1,097,752,115.38, indicating an increase of 86.9%[25] - The net profit for the current period is 104,773,754.61, compared to 57,704,466.34 in the previous period, representing an increase of approximately 81.5%[26] - Operating profit for the current period is 89,171,074.52, up from 60,118,515.77, indicating a growth of about 48.3%[26] - Total comprehensive income attributable to the parent company is 104,808,266.48, compared to 57,704,947.23 in the previous period, reflecting an increase of approximately 81.5%[27] - Basic earnings per share increased to 0.34 from 0.21, representing a growth of about 61.9%[27] - The company’s total revenue from sales of goods and services reached 2,372,850,470.12, compared to 1,309,303,365.22 in the previous period, marking an increase of approximately 81.2%[29] Brand Performance - The self-owned brand business generated 451 million yuan in revenue during Q3, a staggering growth of 344.5%, accounting for 55.1% of total revenue[5] - The brand "Zhanjia" achieved Q3 revenue of 227 million yuan, up 118.9%, and a cumulative revenue of 680 million yuan for the first nine months, representing a 148.6% increase[5] - The brand "Feicui" saw explosive growth with Q3 revenue of 203 million yuan, a quarter-on-quarter increase of over 98.8%[6] - The newly launched brand "Niu Yibei" generated revenue of 12.13 million yuan by the end of September, with a threefold growth in GMV in August and September[7] - The brand management business reported revenue of 204 million yuan in Q3, up 114.1%, and 539 million yuan for the first nine months, a growth of 71.1%[7] Cash Flow and Liabilities - Net cash flow from operating activities decreased by 165.8% to -¥143,037,604.32, primarily due to increased inventory purchases and prepayment expenses[18] - Short-term borrowings increased by 79.0% to ¥491,300,946.18, mainly due to an increase in bank loans[14] - Inventory increased by 66.4% to ¥375,535,812.88, attributed to increased stock for the Double 11 promotional event[14] - Total liabilities increased significantly, with contract liabilities rising by 552.3% to ¥11,205,478.49, reflecting an increase in customer prepayments[14] - The company's cash and cash equivalents decreased to ¥498,274,524.43 from ¥607,081,084.85, reflecting a decline of 17.9%[22] - Accounts receivable decreased to ¥168,634,221.29 from ¥199,257,026.36, a reduction of 15.4%[22] - Total liabilities increased to ¥1,019,539,517.54 from ¥446,659,937.03, showing a growth of 128.3%[24] - The company's equity attributable to shareholders decreased to ¥784,447,477.66 from ¥1,104,191,220.62, a decline of 29.0%[24] Legal Matters - The company is involved in a legal dispute with Mead Johnson Nutrition (China) Co., Ltd., claiming a total of ¥18,960,122.18 for unpaid marketing expenses and other fees[20] - The court ruled in favor of the company, ordering Mead Johnson to pay ¥18,468,061.96 plus overdue interest and legal fees, while the company must pay ¥752,701.56 for milk powder[21] - The company has taken precautionary measures by freezing ¥35 million in Mead Johnson's bank account[21] - The second-instance trial concluded on September 30, 2025, upholding the original judgment[21] - The company received a total of ¥19,159,107.86 from Mead Johnson, including service fees and interest, marking the case as officially closed[21] Investment and Research - The company reported a 218.07% increase in investment income to ¥2,772,325.94, resulting from gains from the disposal of an associate[15] - The company recorded a 140.0% increase in net cash flow from investing activities to ¥16,167,586.48, primarily due to exits from external investment projects[18] - Research and development expenses increased to ¥23,002,022.66 from ¥17,526,591.31, representing a growth of 31.5%[25] - The deferred tax assets rose to ¥34,725,467.48 from ¥12,266,643.66, an increase of 184.5%[23]

Core Viewpoint - The stock of Ruoyuchen has experienced a significant increase of 189.59% year-to-date, but has recently seen a decline of 6.76% over the past five trading days and 8.62% over the past twenty days, indicating potential volatility in the stock price [1]. Company Overview - Ruoyuchen Technology Co., Ltd. is based in Guangzhou, China, and was established on May 10, 2011. It was listed on September 25, 2020. The company specializes in online agency operations, channel distribution, and brand planning, with services including brand positioning, store operations, channel distribution, integrated marketing, data mining, and supply chain management [1]. - The revenue composition of Ruoyuchen is as follows: 45.75% from proprietary brands, 28.83% from agency operations, and 25.42% from brand management [1]. Financial Performance - For the first half of 2025, Ruoyuchen achieved a revenue of 1.319 billion yuan, representing a year-on-year growth of 67.55%. The net profit attributable to the parent company was 72.26 million yuan, reflecting an 85.60% increase compared to the previous year [2]. - Since its A-share listing, Ruoyuchen has distributed a total of 245 million yuan in dividends, with 211 million yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders of Ruoyuchen increased by 83.01% to 27,200, with an average of 6,154 circulating shares per person, a decrease of 24.47% [2]. - The top ten circulating shareholders include several new institutional investors, such as Dongfanghong Qiheng Mixed A and Huahuan New Consumption Mixed A, which have recently entered the list [3].

Group 1: Institutional Research on Popular Companies - The top twenty companies with the highest number of institutional research visits in the past 30 days include Rongbai Technology, Xinqianglian, Duofuduo, Hikvision, and Dangsheng Technology [12] - In the last five days, the most researched companies were Xinqianglian, Duofuduo, Baiya Shares, Taotao Vehicle, and Jereh Shares [12] - Among the top twenty companies researched in the past 30 days, 16 had ten or more rating agencies involved [12] Group 2: Major Shareholder Increase in A-Share Companies - From October 20 to October 24, 2025, no A-share companies announced significant shareholder increases [18] - From January 1 to October 24, 2025, a total of 285 companies announced significant shareholder increases, with 76 having ten or more rating agencies [19] - Companies with proposed increase amounts exceeding 1% of the latest market value include Xianhe Shares, Xinjie Energy, Zhongju Gaoxin, and Tunnel Shares [19] Group 3: A-Share Company Buyback Situation - From October 20 to October 24, 2025, 71 companies announced buyback progress, with 19 having ten or more rating agencies [23] - The companies with the highest expected buyback amounts as a percentage of market value include Huafa Shares, Guangzhou Restaurant, Ruoyu Chen, and China Jushi [23] - From January 1 to October 24, 2025, a total of 1,774 companies announced buyback progress, with 347 having ten or more rating agencies [24]

Core Viewpoint - The article discusses the rapid rise of FineNutri, a new player in the health supplement market, which achieved over 517 million RMB in retail sales within its first year, making it the fastest beauty dietary supplement brand to reach this milestone in China [6][11]. Group 1: Brand Overview - FineNutri, registered in Hong Kong, is a cross-border brand under Ruoyuchen, known as the "first stock of agency operation" in the Shenzhen Stock Exchange [7]. - The brand focuses on oral beauty supplements, targeting female consumers with products designed for anti-aging and beauty needs [7][8]. Group 2: Product Offerings - FineNutri offers 10 types of oral capsule products, with the main ingredient being ergothioneine, known for its antioxidant properties [7][8]. - The pricing strategy positions FineNutri in the mid-to-high-end market, with single product prices ranging from 398 to 1999 RMB [8][9]. Group 3: Sales Performance - In September, FineNutri's monthly sales reached over 100 million RMB, making it the second-best-selling health supplement brand on Douyin [6]. - The brand's flagship product, the ergothioneine anti-aging capsule, sold over 7000 units in a single link, generating sales exceeding 3.49 million RMB [9]. Group 4: Target Demographics - Over 95% of FineNutri's customers are women, primarily aged 31-50, with a significant concentration in economically developed regions like Beijing, Shanghai, and Jiangsu [9][11]. - The brand's marketing strategy effectively targets affluent female consumers, often referred to as "贵妇" (noblewomen) [9]. Group 5: Marketing Strategy - FineNutri differentiates itself by creating memorable branding around ergothioneine, focusing on female user needs and leveraging visual appeal through colorful packaging [13][15]. - The brand employs a refined content strategy on Douyin, collaborating with mid-tier influencers to create relatable content that resonates with its target audience [18][19]. Group 6: Sales Channels - FineNutri's self-operated channels on Douyin account for 83.55% of its GMV, with a focus on live streaming as a primary sales method [26][29]. - The brand utilizes a dual strategy of paid and organic recommendations to drive traffic, with approximately 33% of traffic coming from organic recommendations [29]. Group 7: Market Outlook - The health supplement market in China is projected to reach 624.01 billion USD by 2025, with a shift towards more targeted and functional products [34]. - Brands that can accurately identify and address specific consumer needs are likely to capture significant market share in this growing sector [34].