2 1 Shi Ji Jing Ji Bao Dao·2025-12-19 11:49Core Viewpoint - Two A-share listed companies, Ruoyuchen (003010.SZ) and Shuiyang Co., Ltd. (300740.SZ), claim exclusive rights to operate the Spanish beauty brand Mesoestetic's oral beauty product line in China, leading to a conflict over agency rights [2][4]. Group 1: Company Statements - Ruoyuchen announced it will become the exclusive general agent for Mesoestetic's oral beauty product line in China starting January 1, 2026, with full operational and pricing rights [2][5]. - Shuiyang Co., Ltd. asserts that its exclusive distribution agreement with Mesoestetic is still valid and accuses Ruoyuchen of making misleading statements [2][5]. - Both companies have not disclosed the expiration date of their respective agreements, leading to ambiguity regarding the transition of rights [5]. Group 2: Market Impact - The oral beauty product line constitutes approximately 98% of Mesoestetic's sales, indicating its significant revenue potential [3]. - Shuiyang Co., Ltd. reported a 50% year-on-year growth in GMV for its Mesoestetic products, with its star product, the Brightening Drink, ranking first in the Douyin oral whitening category [3]. Group 3: Strategic Developments - Ruoyuchen is transitioning from being an agent to developing its own brands, with its proprietary brands accounting for over 55% of revenue by Q3 2025 [7]. - Ruoyuchen recently submitted an application for a Hong Kong stock listing, marking its expansion into A+H share markets [6]. Group 4: Stock Performance - As of the latest report, Ruoyuchen's stock closed at 36.99 CNY per share, reflecting a daily increase of 9.99% and a total market capitalization of 11.51 billion CNY [8].