深圳大卖叫停上市！SKG是其畅销品牌，4年赚5亿

Core Viewpoint - Future Health, the parent company of SKG, has officially terminated its IPO plans on the Beijing Stock Exchange due to strategic development needs, following a series of unsuccessful attempts to go public [2][5][6]. Group 1: Company Overview - Future Health, established in 2007, focuses on smart wearable health products, with its main brand SKG specializing in products like neck and eye massagers, muscle guns, and health watches [3]. - As of September 2023, over 80% of Future Health's revenue comes from wearable health products, with neck and waist massagers being the most significant product lines [3]. Group 2: Financial Performance - Future Health reported revenues of 1.048 billion CNY in the latest period, a slight increase of 0.2% from the previous year, with a net profit of approximately 135.46 million CNY, reflecting a 7% increase [4]. - The company has seen fluctuating revenues over the years, with reported revenues of 10.54 billion CNY in 2021, 9.04 billion CNY in 2022, and around 10.48 billion CNY in 2024 [3]. Group 3: IPO Journey - Future Health's IPO journey has been tumultuous, having previously attempted to list on the ChiNext board before shifting focus to the Beijing Stock Exchange [5][7]. - The company faced multiple setbacks, including two suspensions of its IPO review due to outdated financial documents and a withdrawal of its application after significant scrutiny from regulators regarding its dividend policies and executive compensation [6]. Group 4: Strategic Focus and Marketing - In recent years, Future Health has prioritized international expansion, with SKG accelerating its overseas efforts and signing a strategic investment agreement with Morgan Stanley [8]. - The company has invested heavily in marketing, with sales expenses reaching 118 million CNY in the first half of 2024, accounting for 19.8% of its revenue, although overseas revenue saw a decline of 14.18% during the same period [13].