若羽臣想全球化，第一步是去港股筹钱

Core Viewpoint - The company RYUCHEN plans to issue H-shares and apply for listing on the Hong Kong Stock Exchange to enhance its capital strength, competitiveness, and international brand image [1][4] Group 1: H-share Listing Plans - RYUCHEN is in discussions with intermediaries regarding the issuance of H-shares, with details yet to be finalized [1] - If successful, RYUCHEN could become the first operating company to achieve an "A+H" share structure [1] - The CEO of iiMedia Consulting, Zhang Yi, noted that listing H-shares can optimize the shareholder structure by attracting more international institutional investors [1][3] Group 2: Financial Performance - RYUCHEN's stock price reached a high of 64.68 CNY per share in 2025, with a market capitalization exceeding 14 billion CNY, but has recently declined to 53.79 CNY per share, with a market cap of 11.76 billion CNY [1] - The rolling P/E ratio stands at 107.23, significantly higher than the Shenzhen A-share average of 27.54 [1] - In 2024, RYUCHEN's revenue grew by 29% to 1.766 billion CNY, with net profit increasing by 95% to surpass 100 million CNY [5] Group 3: Business Expansion and Strategy - RYUCHEN's primary business is e-commerce operations, but it has expanded into brand management and has developed its own brands, including ZHENJIA and FICUI [5] - The company aims to leverage its global strategy to enhance international influence and integrate global resources [4][6] - RYUCHEN plans to prioritize its own brand ZHENJIA for international expansion, focusing on the Southeast Asian market [6] Group 4: Market Conditions and Regulatory Environment - The recent policy changes in the capital market, including relaxed listing conditions for A+H share companies, have created a favorable environment for RYUCHEN's plans [7][8] - The company acknowledges that the international capital market has stricter requirements for information disclosure and corporate governance, which may increase compliance costs [9]