Core Viewpoint - The stock of Joyoung Co., Ltd. experienced a significant surge, achieving a limit-up for the first time in 2023, driven by the popularity of a new product from a similarly named company, Hangzhou Joyoung Soybean Products Co., Ltd., which gained traction on social media [1][2] Group 1: Company Developments - Joyoung Co., Ltd. has divested its 25.5001% stake in Hangzhou Joyoung Soybean Products Co., Ltd. to refocus on its core business in kitchen small appliances [1][2] - Following the divestment, Joyoung Co., Ltd. aims to expand its product offerings in the kitchen appliance sector, including new products like a non-stick rice cooker and a space-saving water purifier [2] Group 2: Financial Performance - In Q3 2023, Joyoung Co., Ltd. reported revenue of 1.598 billion yuan, a year-on-year decrease of 10.99%, while net profit was 854,600 yuan, reflecting a year-on-year increase of 101.11% [2] - For the first three quarters of 2023, the company recorded total revenue of 5.585 billion yuan, down 9.66% year-on-year, with a net profit of 12.4 million yuan, up 26.03% year-on-year [2]

Core Viewpoint - JS Global Life (01691) experienced a significant stock price increase, rising over 8% in early trading and currently up 5.58% at HKD 2.08, with a trading volume of HKD 52.38 million. This surge is linked to the popularity of a new product launched by Joyoung Soy Milk, which has quickly gained traction on major e-commerce platforms [1][1][1]. Group 1 - Joyoung Soy Milk launched a new product called "Hachimi North-South Green Soy Milk," which has become a viral sensation, contributing to the stock performance of JS Global Life [1][1]. - Joyoung Co., Ltd. (002242.SZ) has seen its stock hit the daily limit for two consecutive days following the product launch [1][1]. - JS Global Life is controlled by Wang Xuning, who is also the actual controller of Joyoung Co., Ltd., indicating a potential connection between the two companies [1][1]. Group 2 - Despite the similar brand names, Joyoung Soy Milk and Joyoung Co., Ltd. operate as independent entities, with Joyoung Soy Milk belonging to Hangzhou Joyoung Food Co., Ltd. [1][1]. - The Secretary of the Board of Joyoung Co., Ltd. clarified that the company does not have any products related to Hachimi and focuses solely on kitchen small appliances, with no involvement in food or beverage products [1][1].

Core Insights - A product named "Hachimi North-South Mung Bean Milk" has gained significant popularity on online platforms, leading to high sales volume and pre-sale status due to stock shortages [1][4] - The product is marketed by Joyoung, featuring ingredients such as soybeans, mung beans, water, and sugars, with a price of 29.9 yuan for 15 bags, and has sold 194,000 units [4] - The term "Hachimi North-South Mung Bean" has become a viral meme, originating from various remixed songs on social media, which has contributed to the product's popularity [4][6] - Joyoung's stock price increased by 10.05% to 11.06 yuan, with a market capitalization of 18.44 billion yuan, following the product's launch [7] Company Overview - Joyoung Co., Ltd. focuses on kitchen appliances and does not have any food or beverage products, as clarified by the company's secretary amid the product's viral success [7][8] - The company was established in July 2002, with a registered capital of approximately 760 million yuan, and is primarily involved in the research, manufacturing, and sales of home appliances [8] - Hangzhou Joyoung Bean Products Co., Ltd., which markets the mung bean milk, was founded in November 2008 with a registered capital of about 16.75 million yuan, and has no direct equity ties to Joyoung Co., Ltd. as of December 2023 [8]