RYC(SZ:003010) Zhi Tong Cai Jing·2025-09-19 11:03Core Viewpoint - Guangzhou Ruoyuchen Technology Co., Ltd. (若羽臣) has submitted an application for H-share listing on the Hong Kong Stock Exchange, marking a strategic transition from a digital empowerment provider to a technology-driven brand platform with a sustainable "0-1-N" brand creation system [1][12]. Group 1: Business Growth and Strategy - Ruoyuchen has experienced rapid growth in revenue and net profit for three consecutive years, with a significant strategic shift towards self-owned brands, particularly with the brand Zhanjia, which achieved revenue of 603 million yuan in the first half of 2025, a year-on-year increase of 242.42% [2][3]. - The company identifies the core driver of its strategic transition as a deep understanding of changing consumer demands in China, shifting focus from functionality to emotional connection and aesthetic appeal [2][7]. - The self-owned brands Zhanjia and FineNutri have been successfully developed, with Zhanjia focusing on high-end fragrance cleaning products and FineNutri specializing in oral beauty supplements [2][3]. Group 2: Market Performance - Zhanjia is projected to have a compound annual growth rate (CAGR) of 72.6% in retail sales from 2022 to 2024, making it the fastest-growing brand in the household cleaning industry [3]. - In the first half of 2025, Zhanjia generated 444 million yuan in revenue, reflecting a year-on-year growth of 157.11%, while FineNutri quickly surpassed 500 million yuan in retail sales within 12 months [3][11]. Group 3: Marketing and Distribution Strategy - Ruoyuchen employs a "full-channel resonance + content-driven" approach, leveraging consumer insights across various categories to create high-potential brands [8]. - The company has established a comprehensive operational system on Douyin (TikTok), integrating self-broadcasting, KOL collaborations, and short video distribution to effectively accumulate brand users and achieve rapid scale [8][11]. - Content creation is a key focus, with high-quality visuals and emotional elements embedded in product design, driving demand and conversion across platforms [9][11]. Group 4: Future Plans and Global Strategy - The upcoming listing in Hong Kong is aimed at enhancing capital strength, competitiveness, and international brand image, while also increasing overseas financing capabilities [1][12]. - Ruoyuchen plans to expand its brand portfolio with a focus on quality, self-care, and health, while embracing digital and content-driven communication strategies [12][13]. - The company aims to explore overseas markets, particularly in Southeast Asia, and pursue strategic acquisitions of differentiated and high-potential brands to enhance its global brand presence [13].