3253元的婴儿床、1444元的婴儿车，瞄准中产的BeBeBus二度递表

Core Viewpoint - BeBeBus, a prominent brand in the Chinese parenting products market, is facing significant sales pressure on its high-priced products due to changing consumer preferences and increased competition, leading to a strategic shift towards lower-priced, high-frequency purchase items like diapers and wipes [2][5][7]. Financial Performance - The company reported revenues of 5.07 billion RMB, 8.52 billion RMB, and 12.49 billion RMB from 2022 to 2024, with year-on-year growth rates of 68% and 46.56% in the latter two years [1]. - Net profit for the same period was -0.21 billion RMB, 0.27 billion RMB, and 0.59 billion RMB, showing significant growth of 228.24% and 114.94% in the last two years [1]. - In the first half of 2025, revenues reached 7.26 billion RMB, a year-on-year increase of 24.74%, while net profit was 0.49 billion RMB, up 72.14% [1]. Product Sales and Market Strategy - Sales figures for key products in 2024 included approximately 115,000 child safety seats, 180,000 baby strollers, 29,000 baby beds, and 16,000 high chairs [1]. - The average selling prices for various products as of June 30, 2025, were 1,444 RMB for strollers, 2,183 RMB for child safety seats, and 3,253 RMB for baby beds [2]. - The company initially targeted high-end markets with complex, high-ticket items but is now shifting focus to lower-priced, high-frequency items due to declining sales in its core product categories [5][7]. Marketing and Financial Strategy - Marketing expenses have been substantial, reaching 3.91 billion RMB in 2024, consistently accounting for over 30% of total revenue [12]. - The company has relied heavily on marketing to drive growth, with marketing expenses increasing at a slower rate than revenue growth, indicating a declining efficiency in marketing spend [14]. - The shift towards lower-priced products is seen as a response to the competitive landscape and changing consumer behavior, with a focus on enhancing user engagement and repeat purchases [7][14].