2.定制化产品开发： 轻竞技棋牌产品：开发侧重于玩法轻松愉快、强社区互动的轻度竞技棋牌产品，降低传统竞技的硬核属 性与竞争压力，强调过程中的智力趣味与社交乐趣。 女性向休闲游戏：重点开发具备强社交功能、画风精美治愈、玩法简单易上手且无过重负担的女性向休 闲小游戏，将致力于为用户打造可短暂抽离现实压力、获得情感慰藉与愉悦感的数字空间，精准契合现 代女性对"低压"娱乐体验的追求。 公司相信，此次战略聚焦将使公司能更精准地响应用户需求，以"内容"为核心驱动力，不断丰富娱乐体 验的内涵与外延，进一步增强用户黏性，拓展新的业务增长空间，并为股东创造长期、可持续的价值。 联众(06899)发布公告，在现有业务及用户生态持续良性发展的基础上，决定进一步加强女性娱乐领域 的战略布局—聚焦持续提升核心女性用户的价值体验，并以优质、创新的内容驱动新娱乐业务的增长。 自2021年开展短视频平台直播业务以来，公司已在抖音、快手等核心阵地深耕四年。期间，公司不仅建 立了成熟的运营体系，更重要的是，成功汇聚了规模庞大、特征鲜明的核心用户群体—主要为新一线城 市中18至40岁的高价值女性用户。该用户群体的形成，为公司未来的发展奠定了坚实的 ...

自2021年开展短视频平台直播业务以来，公司已在抖音、快手等核心阵地深耕四年。期间，公司不仅建 立了成熟的运营体系，更重要的是，成功汇聚了规模庞大、特征鲜明的核心用户群体—主要为新一线城 市中18至40岁的高价值女性用户。该用户群体的形成，为公司未来的发展奠定了坚实的用户基础与数据 洞察优势。 公司认为，深入理解并服务好现有核心用户，挖掘其深层价值，是未来竞争的关键所在。因此，公司将 围绕女性用户群体的特定需求、使用习惯与情感偏好，进行业务与内容的深度定制化开发，并逐步构建 并完善以下业务矩阵，以形成协同效应： 1.娱乐直播体验升级：在现有赛事直播业务基础上，将进一步细化内容分类，鼓励创新互动形式，强化 主播与用户、用户与用户之间的情感联结与社区归属感，使直播平台成为用户休闲娱乐与社交互动的重 要场景。同时，公司将加大对娱乐直播和直播电商领域的投入与建设力度。 2.定制化产品开发： 轻竞技棋牌产品：开发侧重于玩法轻松愉快、强社区互动的轻度竞技棋牌产品，降低传统竞技的硬核属 性与竞争压力，强调过程中的智力趣味与社交乐趣。 女性向休闲游戏：重点开发具备强社交功能、画风精美治愈、玩法简单易上手且无过重负担的女性向休 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致之任何損 失承擔任何責任。 （ 根據開曼群島法律註冊成立之有限公司） （股份代號：6899） 自願公告 聚焦女性用戶價值，以內容驅動新娛樂 本公告乃由聯眾國際控股有限公司（「本公司」）自願作出。 本公司董事（「董事」）會（「董事會」）欣然宣佈，在現有業務及用戶生態持續良性發展的基礎 上，決定進一步加強女性娛樂領域的戰略佈局—聚焦持續提升核心女性用戶的價值體驗， 並以優質、創新的內容驅動新娛樂業務的增長。 自 二 零 二 一 年 開 展 短 視 頻 平 台 直 播 業 務 以 來 ， 本 公 司 已 在 抖 音 、 快 手 等 核 心 陣 地 深 耕 四 年。期間，我們不僅建立了成熟的運營體系，更重要的是，成功匯聚了規模龐大、特徵鮮 明的核心用戶群體 — 主要為新一線城市中18至40歲的高價值女性用戶。該用戶群體的形 成，為本公司未來的發展奠定了堅實的用戶基礎與數據洞察優勢。 – 1 – OURGAME INTERNATIONAL ...

Core 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].

Core 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 towards a technology-driven brand platform with a focus on consumer-centric brand development [2][13]. Group 1: Company Growth and Strategy - Ruoyuchen has experienced rapid growth in revenue and net profit for three consecutive years, with a strategic shift from e-commerce operations to developing proprietary brands [2][3]. - The company's proprietary brand, Zhanjia, achieved revenue of 603 million yuan in the first half of 2025, a significant year-on-year increase of 242.42%, making it the core growth engine [3][4]. - The strategic transition is driven by deep insights into changing consumer demands, shifting focus from functionality to emotional and experiential aspects [3][8]. Group 2: Brand Development and Market Position - Zhanjia is projected to have a compound annual growth rate (CAGR) of 72.6% in retail sales from 2022 to 2024, becoming the fastest-growing brand in the household cleaning sector [4]. - The brand Zhanjia generated 444 million yuan in revenue in the first half of 2025, reflecting a year-on-year growth of 157.11% [4]. - The brand FineNutri quickly surpassed 500 million yuan in retail sales within 12 months, ranking first in the dietary supplement category on Douyin [4][12]. Group 3: Marketing and Sales Strategy - Ruoyuchen employs a "full-channel resonance + content-driven" approach, leveraging consumer insights across various categories to create high-potential brands [9]. - The company has established a comprehensive operational system on Douyin, integrating self-broadcasting, KOL collaborations, and short video distribution to enhance brand visibility and consumer engagement [9][10]. - In the first half of 2025, Zhanjia and FineNutri's self-operated channels accounted for over 60% and 80% of Douyin's overall GMV, respectively, showcasing the effectiveness of the full-channel strategy [12]. Group 4: Future Plans and Global Expansion - The listing in Hong Kong aims to enhance capital strength, competitiveness, and international brand image, while also improving overseas financing capabilities [2][13]. - Future strategic plans include building a multi-brand matrix centered on quality, self-care, and health, while embracing digital and content-driven communication [13][14]. - The company plans to explore overseas markets, particularly in Southeast Asia, and seek strategic acquisitions of high-potential foreign brands to enhance its global brand presence [14].

Core Insights - The apparel industry is undergoing a transformation where consumers are willing to pay for emotions, scenarios, and identities rather than just clothing itself [3][4] - Although the market appears to be recovering, growth rates are slowing down, with retail sales of apparel and footwear only increasing by 3.1% year-on-year in the first half of 2025, compared to a high growth of 15.5% in 2023 [3][4] - The industry is entering a new phase focused on "mind penetration efficiency," where understanding consumer preferences and establishing long-term brand memory through content is crucial for success [3][4] Market Trends - The online content consumption is becoming the core entry point for apparel transactions, with over 60% of consumers relying on content for their purchasing decisions [7] - Douyin (TikTok) contributed 74% of the online retail growth in apparel in 2024, indicating its role as a primary growth engine for the industry [7] - AI is reshaping the supply-demand system, enhancing both consumer experiences with virtual try-ons and accelerating product development on the supply side [9][11] Seasonal Strategies - The extended autumn-winter sales window in 2025, lasting 194 days, provides retailers with more opportunities to control sales rhythms and consumer decision-making [9][11] - New products account for nearly 40% of GMV during the autumn-winter season, emphasizing the importance of identifying trends and launching popular items early [11][13] - A dual inventory strategy focusing on seasonal and all-season products is emerging as a more reliable growth tactic [13] Consumer Behavior - Consumers are now looking for versatile clothing solutions that can serve multiple purposes, with over 90% considering two or more usage scenarios when purchasing autumn-winter apparel [16][18] - Three major growth tracks have been identified: quality warmth, outdoor lifestyle, and emotional dressing, reflecting the evolving consumer expectations [18][19][22] Target Demographics - Six key consumer segments have been identified, each representing distinct lifestyles and aesthetic preferences, including practical users, cultural enthusiasts, and style innovators [25][40] - Understanding these segments allows brands to tailor their offerings and marketing strategies effectively [40] Content Strategy - In the content-driven e-commerce era, brands must focus on creating meaningful content that resonates with consumers and builds brand recognition [41][45] - Effective content should not only drive sales but also establish a unique brand identity and emotional connection with consumers [47][48] Product Lifecycle Management - Brands should adopt a three-phase strategy for new product launches: rapid testing during the cold start phase, targeted content during the potential breakout phase, and aggressive marketing during the mature phase [50][58] - The 2025 autumn-winter season presents a unique opportunity for brands to leverage the longest sales window and maximize their market impact [59][60]

Core Insights - The apparel industry is undergoing a transformation where consumers are willing to pay for emotions, scenarios, and identities rather than just clothing [1] - Although the market appears to be recovering, growth rates are slowing down, with retail sales of apparel and footwear only increasing by 3.1% year-on-year in the first half of 2025, compared to 15.5% in 2023 [1] - The industry is entering a new phase focused on "mind penetration efficiency," where understanding consumer preferences and establishing long-term brand memory is crucial for success [1] Group 1: Market Trends - Online content consumption is becoming the core entry point for apparel transactions, with over 60% of consumers relying on content for their purchasing decisions [4] - Douyin (TikTok) contributed 74% of the online retail growth in apparel in 2024, highlighting its role as a primary growth engine for the industry [4] - The average number of products from apparel merchants on Douyin increased by 42% year-on-year in Q1 2025, indicating a rapid pace of new product introductions [7] Group 2: Seasonal Dynamics - The autumn and winter season accounts for 63% of annual apparel sales, with new products contributing nearly 40% of GMV [9] - The 2025 autumn and winter sales window is extended to 194 days due to it being a leap year, providing more opportunities for merchants to control sales rhythms and consumer decision-making [7][9] Group 3: Consumer Behavior - Consumers are now looking for clothing that serves multiple purposes, with over 90% considering two or more usage scenarios when purchasing autumn and winter apparel [12] - Three major growth trends have emerged: Quality Warmth, Outdoor Lifestyle, and Emotional Dressing, reflecting the evolving consumer expectations [14][15][16][17] Group 4: Target Consumer Segments - Six key consumer personas have been identified: Practical Comfort Seekers, Eastern Aesthetic Traditionalists, Functional Wilderness Explorers, Quality Luxury Connoisseurs, Boundaryless Style Deconstructors, and Self-Aesthetic Curators [20] - Each persona represents distinct lifestyles and aesthetic orders, indicating that brand growth strategies must be tailored to these diverse consumer needs [33] Group 5: Content and Brand Strategy - Effective content is essential for brand recognition, with a focus on creating a long-term mental asset rather than just viral marketing [34][36] - Brands with clear mental expressions see significant increases in average transaction value and high consumer retention rates, emphasizing the importance of building a robust content strategy [38] Group 6: New Product Lifecycle Management - The lifecycle of new products involves three key phases: rapid cold start, precise growth phase, and aggressive mature phase, each requiring different strategies for maximizing market impact [40][47] - Merchants must leverage multi-channel strategies to enhance both traffic efficiency and brand recognition throughout the product lifecycle [47][48]

本文来自微信公众号： 产品变量 ，作者：亨亨，头图来自：视觉中国 这可能是一个时间窗口长达10-18个月的市场机会，当然换个角度讲，这也是县城本地商家新一轮淘 换战的序章。迈过去，就有了数字营销的新入场券；迈不过去，兴许在这一波浪潮中，一些县城的门 店就要凋零消亡。 纵观TMT风云，解构产品思维，用创业者和产品经理的视角，深挖商业 以下文章来源于产品变量 ，作者亨哼 产品变量 . 我们把视角拉回机会和红利层面。上个月，我回了一趟老家小县城，这是一座只有10万人口、电子 支付普及、但一半电影票仍通过前台售出的山西北部小县城。我表姐夫找到我，想让我帮他在抖音团 购，上架他新开的台球社。 无论是哪种业态，对于市场体量的判断，都是第一位的。 首先，在下沉市场这个场域，抖音本地生活的渗透，可能比我们想象中要更大。 我检索了一下，在抖音的搜索结果里，县城只有2家台球厅设置了抖音团购，销量400+。而表姐夫新 开的台球社，在没发布短视频导流的情况下，上线当天，就售出2单。 我意识到，无论是在市场体量维度，还是在竞争维度，抖音本地生活都给县城商家带来了极大的机 会。 根据QuestMobile和开源证券的数据，抖音的月活跃用 ...