Core Viewpoint - The company, Different Group, is planning a global offering of 10.98 million shares, with a price range of HKD 62.01 to 71.20 per share, targeting the high-end parenting product market in China [1][4]. Group Overview - Different Group focuses on designing and selling parenting products, with its brand BeBeBus established in 2019, quickly gaining recognition in the mid-to-high-end consumer segment [1][2]. - By 2024, the mid-to-high-end parenting product market is expected to account for 23.6% of the overall parenting product market in China, with BeBeBus holding a 4.2% market share, ranking second among Chinese parenting brands [1][2]. Growth Strategy - The company has developed an effective growth model by entering high-demand, high-ticket items such as baby strollers and safety seats, which has helped establish a strong brand image and recognition among target users [2]. - The strategy allows for diversification of revenue sources and strengthens brand power, positioning the company for future success in a changing market [2]. Investment Agreements - The company has entered into cornerstone investment agreements, with investors agreeing to subscribe for shares totaling approximately USD 15 million (around HKD 117 million) under certain conditions [3]. - Key cornerstone investors include Cithara Global Multi-Strategy SPC, Shanghai Tongyi, and Great Praise Investment SPC [3]. Use of Proceeds - Assuming a share price of HKD 66.60, the company expects to net approximately HKD 661.7 million from the global offering [4]. - The proceeds will be allocated as follows: 25.7% for enhancing production capacity, 16.6% for expanding influence in North America, Europe, and Southeast Asia, 34.1% for brand activities and sales network expansion, 13.6% for R&D of new products, and 10% for working capital and general corporate purposes [4].
不同集团(06090.HK)预计9月23日上市 引入信庭基金等基石