高榕韩锐：押注“母婴届苹果”BeBeBus

Core Viewpoint - Different Group successfully listed on the Hong Kong Stock Exchange, becoming the "first stock in maternal and infant consumption technology" with the stock code "6090" [2] Group 1: Company Overview - Different Group's parent company, BeBeBus, covers four key parenting scenarios: travel, sleep, feeding, and hygiene [2] - According to Frost & Sullivan, BeBeBus ranks first among durable parenting product brands targeting mid-to-high-end consumers in China based on 2024 GMV [2] - Different Group's revenue increased from 507 million to 1.249 billion yuan from 2022 to 2024, with a compound annual growth rate (CAGR) of 56.9%, and adjusted net profit CAGR of 236.8% [2] - In the first half of 2025, revenue grew by 24.7% year-on-year, and net profit increased by 72.1% year-on-year [2] Group 2: Investment and Financing - Different Group completed three rounds of financing before the IPO, with major investors including Gao Rong Capital, Tiantu Investment, Matrix Partners, and Taikang Life [2] - Gao Rong Capital was the largest institutional investor in Different Group prior to the IPO, having led the A+ round financing in late 2020 and participated in subsequent rounds [2][3] Group 3: Brand Philosophy and Future Outlook - Gao Rong Capital views BeBeBus as a brand that dares to be different, focusing on the needs of new-generation parents and providing products that meet both practical and emotional values [5] - The brand philosophy is rooted in "resonance," "focus," and "innovation," aiming to become the "Apple of the maternal and infant industry" [5] - Gao Rong Capital expresses confidence in Different Group's future growth under the leadership of its founder, Wang Boyan, emphasizing the potential for world-class opportunities in AI and consumer sectors [6]