Summary of Conference Call for Ruoyuchen Industry Overview - The brand service industry in 2023 exceeded 400 billion yuan, with a growth rate of over 10% [2][3] - The penetration rate of laundry detergent in China is only 44%, significantly lower than the 80%-90% in the US and Japan, indicating substantial growth potential [2][6] - The demand for high-quality laundry products is increasing, with a notable growth in products priced over 100 yuan, driving the industry towards a mid-to-high-end upgrade [2][4][6] - E-commerce penetration in the industry is approaching 40%, with further room for improvement compared to over 50% in beauty products [6][7] Company Performance and Strategy - Ruoyuchen operates two main business segments: agency operations and proprietary brands, with agency operations enhancing efficiency in the e-commerce sector [3][5] - The company has established strong partnerships with international brands, increasing from 64 in 2016 to 86 in 2019, including well-known brands like Mead Johnson [3][5] - The proprietary brand "Zhanjia" focuses on mid-to-high-end home cleaning products, expanding its product line with innovative items like multi-chamber laundry capsules [8][11] - Ruoyuchen's sales target for 2025 is 1 billion yuan, with a strong performance in the Douyin channel, achieving over 40 million yuan in GMV by February [12][17] Market Trends - The laundry detergent industry is trending towards enhanced efficacy and improved fragrance products, with brands like Liby focusing on plant-based antibacterial and fragrance series [9][11] - The home cleaning products market is experiencing rapid growth, with e-commerce penetration increasing from around 23% in 2019 to a current rate that outpaces the overall daily chemical industry [10] Competitive Advantages - Ruoyuchen's competitive advantages include clear brand positioning, first-mover advantages, and collaborations with top fragrance companies, allowing it to target the high-end market effectively [11] - The company has a significant first-mover advantage in the fragrance laundry detergent segment, establishing a strong market foundation since entering early [11] Health Products Market - The health products market is rapidly growing, driven by aging demographics and increased health awareness among younger generations, with a market size exceeding 350 billion yuan [13][15] - Ruoyuchen's health product market share is approximately 30%, competing with well-known brands like Tongrentang and Amway, indicating a fragmented but promising market [13][15] - The company plans to launch products like "Yiqing" targeting 20 million yuan GMV in 2024 and 200 million yuan in 2025, focusing on ingredients like cranberry extract and coenzyme Q10 [15][16] Short-term and Long-term Outlook - Short-term data shows Ruoyuchen's GMV on Douyin exceeded 20 million yuan in February, indicating strong growth potential for the year [17] - The company is transitioning from being perceived as lucky to being recognized for its deep industry knowledge and strong operational capabilities, leading to upward adjustments in performance expectations from investors [18]

Meeting Details - The meeting was held on May 22, 2025, at 14:30, with both on-site and online voting options available [1][2] - A total of 121 shareholders attended the meeting, representing 74,344,955 shares, which is 44.7113% of the total voting shares [1][2] Voting Participation - Online voting included 113 shareholders representing 3,427,008 shares, accounting for 2.1602% of the total voting shares [2] - Among the small shareholders, 116 participated, representing 3,445,808 shares, which is 2.1720% of the total voting shares [2] Shareholder Voting Results - The proposals were approved with 74,344,955 shares in favor, representing 99.9815% of the valid votes cast [3][4] - A total of 11,700 shares were against the proposals, accounting for 0.0157% of the valid votes [3][4] - The abstention rate was 0.0027% [3][4] Small Shareholder Voting Results - Small shareholders voted 3,432,088 shares in favor, which is 0.0586% of their total valid votes [3][4] - The proposals received overwhelming support from small shareholders, indicating strong approval [3][4] Legal Compliance - The meeting and voting procedures complied with relevant laws and regulations, ensuring the validity of the voting results [12]

Group 1 - The company held its 2024 annual shareholders' meeting, which was convened by the fourth board of directors [2][3] - The meeting was announced on April 25, 2025, in compliance with legal requirements, providing shareholders with a 20-day notice [3] - The meeting took place on May 22, 2025, with a total of 8 shareholders present, representing 70,931,667 shares, which is 44.71% of the total voting shares [5][6] Group 2 - The meeting included both on-site and online voting, with 113 shareholders participating in the online voting [4][6] - The voting results were verified and confirmed by the legal representatives, ensuring compliance with relevant laws and regulations [30] - Various proposals were presented and voted on during the meeting, with significant support from shareholders [7][29] Group 3 - The proposals included the 2024 annual financial report, which received 99.98% approval from voting shareholders [7][10] - The proposal for the 2025 financial budget was also approved with similar support [11][29] - A special resolution regarding the company's future three-year shareholder return plan was passed with 99.98% approval [28][29]

证券代码：003010 证券简称：若羽臣 公告编号：2025-047 关于办公地址变更的公告 特此公告。 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。 广州若羽臣科技股份有限公司董事会 广州若羽臣科技股份有限公司（以下简称"公司"）因公司经营发展需要， 公司办公地址已于近日由广州市黄埔区大沙地东 319 号 607 房自编 A 变更至新办 公地址。 2025 年 5 月 23 日 变更后的办公地址如下： 办公地址：广州市海珠区鼎新路 8 号欢聚大厦 38 楼 除上述办公地址变更外，公司注册地址、联系地址、联系电话和电子信箱等 其他联系方式均保持不变。上述办公地址自本公告发布之日起正式启用，敬请广 大投资者注意。 广州若羽臣科技股份有限公司 ...

1、会议召开的时间： 证券代码：003010 证券简称：若羽臣 公告编号：2025-046 广州若羽臣科技股份有限公司 2024年年度股东大会决议公告 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。 一、会议召开和出席情况 （一）会议召开情况 （1）现场会议：2025 年 5 月 22 日（周四）14:30 （2）网络投票：2025 年 5 月 22 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 5 月 22 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 5 月 22 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 39 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 ...

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 : +86 20 2826 1666 www.zhonglun.com 北京市中伦（广州）律师事务所 关于广州若羽臣科技股份有限公司 2024 年年度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、刘杰（以下简称"本所 律师"）出席公司 2024 年年度股东大会（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 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》 ...

证券代码：003010 证券简称：若羽臣 公告编号：2025-045 广州若羽臣科技股份有限公司 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 广州若羽臣科技股份有限公司（以下简称"公司""若羽臣"）于2025年2 月26日披露了《关于持股5%以上股东减持股份预披露公告》 （公告编号：2025-015）， 朗姿股份有限公司（以下简称"朗姿股份"）计划合计减持若羽臣股份数量不超 过4,768,071股，不超过若羽臣总股本的3%。其中，通过集中竞价方式减持不超 过1,589,357股，不超过若羽臣总股本的1%，且在任意连续90个自然日内减持股 份的总数不超过若羽臣总股本的1%；通过大宗交易方式减持不超过3,178,714股， 不超过若羽臣总股本的2%，且任意连续90个自然日内减持股份的总数不超过若羽 臣总股本的2%。（总股本以公司当前总股本164,030,506股剔除公司截至本公告 披露日已披露回购结果的2024年第三期股份回购和2024年第四期股份回购的回 购专用证券账户持有的5,094,800股后的股份数量158,935,706 股为计算依据， 下同。） 公司于2025年3月22日、20 ...

广州若羽臣科技股份有限公司（以下简称"公司""若羽臣"）于2025年2 月26日披露了《关于持股5%以上股东减持股份预披露公告》（公告编号：2025-015）， 朗姿股份有限公司（以下简称"朗姿股份"）计划合计减持若羽臣股份数量不超 过4,768,071股，不超过若羽臣总股本的3%。其中，通过集中竞价方式减持不超 过1,589,357股，不超过若羽臣总股本的1%，且在任意连续90个自然日内减持股 份的总数不超过若羽臣总股本的1%；通过大宗交易方式减持不超过3,178,714股， 不超过若羽臣总股本的2%，且任意连续90个自然日内减持股份的总数不超过若羽 臣总股本的2%。（总股本以公司当前总股本164,030,506股剔除公司截至本公告 披露日已披露回购结果的2024年第三期股份回购和2024年第四期股份回购的回 购专用证券账户持有的5,094,800股后的股份数量158,935,706 股为计算依据， 下同。） 公司于2025年3月22日、2025年5月14日和2025年5月16日分别披露了《关于 持股5%以上股东权益变动后持股比例触及5%整数倍的提示性公告》（公告编号： 2025-021）、《简式权益变动报 ...

Investment Rating - The report maintains a "Buy" rating for the company [4] Core Viewpoints - The company has launched a significant new product, Ruby Oil, which is expected to expand its health supplement business [2] - The self-owned brands, Zhanjia and Feicui, are driving growth with Zhanjia projected to achieve a revenue of 501 million yuan in 2024, a year-on-year increase of 90.28% [2] - The company's profitability is expected to improve due to the growth of its self-owned brands, with gross margins and net profit margins increasing in 2024 [3] - The brand management business is showing strong growth, with revenue expected to reach 501 million yuan in 2024, a year-on-year increase of 212.24% [3] - The company has adjusted its net profit forecasts for 2025 and 2026 upwards due to better-than-expected growth in self-owned brands, with a new forecast for 2027 net profit of 300 million yuan [4] Financial Projections - Total revenue is projected to grow from 1,366 million yuan in 2023 to 4,762 million yuan in 2027, with a compound annual growth rate (CAGR) of approximately 31.04% [1] - The net profit attributable to the parent company is expected to increase from 54.29 million yuan in 2023 to 302.92 million yuan in 2027, reflecting a CAGR of approximately 30.37% [1] - The earnings per share (EPS) is forecasted to rise from 0.33 yuan in 2023 to 1.85 yuan in 2027 [1]

Investment Rating - The report maintains a "Buy" rating for the company [4] Core Insights - The company has launched a significant new product, Ruby Oil, which is expected to expand its health supplement business [2] - The self-owned brands, Zhanjia and Feicui, are driving growth with Zhanjia projected to achieve a revenue of 5.01 billion yuan in 2024, a year-on-year increase of 90.28% [2] - The company's profitability is expected to improve due to the growth of its self-owned brands, with gross margins and net profit margins increasing in 2024 [3] - The brand management business is showing strong growth, with revenue expected to reach 5.01 billion yuan in 2024, a year-on-year increase of 212.24% [3] - The company has adjusted its net profit forecasts for 2025 and 2026 upwards due to better-than-expected growth in self-owned brands [4] Financial Projections - Total revenue is projected to grow from 1.37 billion yuan in 2023 to 4.76 billion yuan in 2027, with a compound annual growth rate (CAGR) of 31.04% [1] - Net profit attributable to the parent company is expected to increase from 54.29 million yuan in 2023 to 302.92 million yuan in 2027, reflecting a CAGR of 30.37% [1] - The earnings per share (EPS) is forecasted to rise from 0.33 yuan in 2023 to 1.85 yuan in 2027 [1]