Core Insights - The article discusses the emergence of Tmall operation agencies that provide professional solutions for new merchants to efficiently manage their stores in a competitive e-commerce environment [3][12]. Group 1: Tmall Operation Agencies - Tmall operation agencies are ranked based on their reputation and experience, offering comprehensive operation services to merchants [3]. - ZhuTao E-commerce focuses on integrated internet marketing, providing services such as store operation, visual design, and marketing promotion, successfully creating numerous high-revenue stores [4]. - Baiqiu specializes in the international fashion sector, offering full-channel services including brand consulting and digital marketing, leveraging extensive experience in the fashion e-commerce field [5]. - Ruoyuchen Technology Co., Ltd. provides integrated marketing management services, successfully nurturing well-known online brands in cosmetics and maternal and infant products [6]. - Leqi E-commerce offers a comprehensive data marketing solution, providing precise operational strategies and effective marketing methods based on rich category data [7]. - Bicheng E-commerce operates across multiple platforms, providing customized, one-stop business growth solutions and enhancing the shopping experience for consumers [8]. - Golobo focuses on brand network marketing, offering solutions for brand building and development in e-commerce channels [9]. - Kaijie E-commerce utilizes big data and precise marketing strategies to create a closed-loop e-commerce business for brands [10]. - Yiwan Yichuang emphasizes full-channel operation services, creating a digital marketing closed loop for brands through data analysis and innovative marketing methods [11]. Group 2: Key Considerations for New Merchants - New merchants must have a clear store positioning, identifying target customer groups and tailoring product strategies accordingly [13]. - Product quality is crucial; merchants should ensure that every product meets customer expectations to build trust and encourage repeat purchases [13]. - Customer service is essential for enhancing customer satisfaction and generating word-of-mouth referrals; establishing a professional customer service team is recommended [13]. - Merchants should leverage Tmall's promotional tools and resources, such as participating in promotional events and utilizing advertising tools to attract traffic [13]. - Data analysis is vital for identifying operational issues and opportunities; regular analysis of sales and customer behavior data can optimize product recommendations and advertising effectiveness [14].

Core Viewpoint - The company Ruoyuchen, a leading player in the e-commerce operation sector, is planning to go public in Hong Kong, highlighting its transition from a service provider to a brand owner with significant growth in its proprietary brands [1][2]. Company Overview - Ruoyuchen was established in 2011, initially providing e-commerce operation services for domestic and international brands on platforms like Tmall and JD [2]. - The company went public on the New Third Board in 2015 and later became the first e-commerce operation stock on the Shenzhen Stock Exchange in 2020 [4]. Business Model - The core business includes e-commerce operation and proprietary brand management, with the latter being the primary profit driver [3]. - The company has successfully launched its own brands, such as "Zhanjia" for home cleaning products and "Feicui" for oral beauty supplements, which have shown rapid growth [4][5]. Financial Performance - Revenue is projected to grow from 1.217 billion RMB in 2022 to 1.766 billion RMB in 2024, with a net profit of approximately 106 million RMB [8]. - In the first half of 2025, revenue is expected to increase by 67.6% year-on-year to 1.319 billion RMB [8]. Industry Trends - The e-commerce solution industry is expected to grow from 1.3 trillion RMB in 2024 to 2.2 trillion RMB by 2029, with a compound annual growth rate (CAGR) of 11.7% [7]. - The health sector is anticipated to be the fastest-growing category, with a CAGR of 24.3% from 2024 to 2029 [7]. Market Opportunities - New opportunities exist in niche markets, such as home cleaning products for pet owners and dietary supplements targeting men's health [10]. - The application of AI and biotechnology in product development and marketing is seen as a significant opportunity for new players [11]. - There is a growing trend towards sustainability and ESG (Environmental, Social, and Governance) practices, which can enhance brand image and meet consumer demand [13].

Investment Rating - The report maintains a "Positive" outlook on the beauty and personal care industry, highlighting the resilience of domestic brands and the impact of new consumption trends [2]. Core Insights - The beauty and personal care sector experienced a robust recovery in H1 2025, with a retail sales growth of 2.9%, reversing the previous decline due to favorable consumption policies and improved income expectations [5][6]. - Domestic brands are gaining market share, with top local brands now competing closely with international counterparts, indicating a significant shift in consumer preferences [10][11]. - The report categorizes companies into three groups based on performance: those with strong brand matrices benefiting from multi-brand strategies, those capitalizing on consumer trends like domestic brands and collagen products, and those showing signs of strategic improvement [20][23]. Summary by Sections Industry Overview - The beauty market is projected to grow steadily, with a forecasted retail sales decline of 1.1% in 2024, followed by a recovery in H2 2025 [5][6]. - The domestic market share is expected to increase, with local brands achieving significant breakthroughs in both skincare and makeup segments [10][11]. Company Performance - **Cosmetics Sector**: - Major companies like Up Beauty and Proya reported revenue growth of 17.3% and 7.2% respectively in H1 2025, with net profits increasing by 30.6% and 13.8% [20][21]. - Other notable performers include Marubi and Water Sheep, with revenue growth of 30.8% and 9.0% respectively [21][22]. - **Personal Care Sector**: - Companies like Ruibin and Zhenjia showed remarkable growth, with Ruibin's revenue increasing by 67.6% and Zhenjia's by 157.11% in H1 2025 [5][20]. - **Medical Aesthetics Sector**: - Companies like Aimeike and Langzi reported mixed results, with Aimeike's revenue declining by 21.6% while Langzi's net profit surged by 64.1% [20][24]. Investment Recommendations - The report recommends investing in companies with strong brand matrices and low PE multiples, such as Up Beauty and Proya, as well as those benefiting from the Douyin traffic boost like Marubi and Water Sheep [20][24]. - It also suggests focusing on high-value segments and innovative products from brands like Ruibin and Furuida, and highlights opportunities in the maternal and infant sector with companies like Shengbeila and Haiziwang [20][24].

Core Insights - The article discusses the competitive landscape of e-commerce operation companies in Hangzhou, highlighting the increasing demand for professional services as the e-commerce industry grows [2] Group 1: Company Profiles - ZhuTao E-commerce is a well-known e-commerce operation company in Hangzhou, established in 2014, providing comprehensive e-commerce solutions across various industries including apparel, beauty, home goods, and food [3] - BiCheng Network, founded in 2013, focuses on high-end brand clients and has successfully managed international brands in luxury goods, beauty, and health food sectors, emphasizing its international operational perspective [4] - WangYing Technology specializes in multi-channel e-commerce operations, covering platforms like Tmall, JD, Pinduoduo, and Douyin, utilizing a technology-driven approach to optimize advertising effectiveness and ROI [6] - LeQi E-commerce, established in 2012, is known for its brand incubation services, successfully nurturing multiple brands with annual sales exceeding 100 million, offering a full range of services from product development to marketing [7] - YouKe Group, founded in 2010, is a leading beauty e-commerce operation company, partnering with international brands like Estée Lauder and L'Oréal, providing one-stop services tailored for the Chinese market [8] - YiWangYiChuang, established in 2012, focuses on fast-moving consumer goods and maternal and infant brands, achieving annual sales exceeding 1 billion, with strong supply chain integration capabilities [10] - BaiQiu E-commerce, founded in 2011, specializes in fashion and luxury goods, offering high-end services and emphasizing unique visual presentation and storytelling marketing [11] Group 2: Service Offerings - ZhuTao E-commerce provides services including store decoration, product listing, traffic promotion, event planning, and customer service, leveraging platform rules for enhanced visibility [3] - BiCheng Network offers brand positioning, visual design, content marketing, and membership system development, focusing on brand premiumization and user management [4] - WangYing Technology emphasizes practical results with real-time data monitoring and strategy adjustments, excelling in traffic integration and user retention [6] - LeQi E-commerce provides market research, product planning, visual design, and channel expansion, utilizing social media for brand building [7] - YouKe Group focuses on e-commerce channel development, brand digitalization, and consumer insights, enhancing brand repurchase rates through precise marketing [8] - YiWangYiChuang offers store operations, advertising, content creation, and customer service outsourcing, with a focus on cross-border e-commerce [10] - BaiQiu E-commerce provides brand visual upgrades, content marketing, and membership rights design, enhancing brand value through scenario-based marketing [11] Group 3: Industry Insights - The article suggests that companies should clarify their needs, examine case studies, communicate with the operation team, and focus on data analysis when selecting an e-commerce operation partner [13][14]

近日，广州若羽臣科技股份有限公司正式向港交所递交招股书，由中信建投国际与广发证券联合保荐。作为聚焦家居清洁护理与膳食补充剂领域的新消费品 企业，若羽臣旗下拥有绽家、斐萃、纽益倍三大品牌，并已于2020年在深交所上市（股份代号：003010.SZ）。 作为一家电商代运营和服务商，若羽臣的主要业务是为品牌提供线上店铺运营、数字营销、供应链管理等一站式解决方案。公司认为，赴港上市将有助于若 羽臣提高资本实力、综合竞争力，提升国际化品牌形象，并增强境外融资能力。 公开资料显示，若羽臣在2025年上半年，自有品牌收入占比已升至45.75%，成为公司核心增长引擎。公司成功打造出LYCOCELLE绽家（高端香氛家清）和 FineNutri斐萃（口服美容）两大自有品牌。绽家是中国家庭清洁护理行业增速第一的市场参与者，斐萃是增长迅速的美容类膳食补充剂品牌。 受益于家居清洁品类抗周期特性及线上渠道快速渗透，行业正稳步扩张。据弗若斯特沙利文数据，中国该领域零售额预计2029年达2173亿元，电商占比将升 至44.5%。依托电商平台与产品创新，新兴品牌持续抢占市场，若羽臣此次赴港上市或将进一步加速其增长布局。 | 19/09/202 ...

天猫作为国内头部电商平台，吸引了大量新商家入驻。然而，平台规则复杂、竞争激烈，许多缺乏运营经验的商家会选择代运营公司提供专业支持。但市场 上代运营服务商质量参差不齐，如何选择一家靠谱的合作伙伴成为新商家面临的关键问题。本文将从多个维度为您系统分析，帮助您做出明智决策。 在选择代运营公司之前，商家首先需要梳理自己的需求和目标： 清晰的需求界定不仅能帮助您筛选合适的代运营公司，也能为后续合作奠定良好基础。 产品定位与优势：明确产品的核心竞争力、目标客户群体及市场定位 运营目标：设定清晰的短期和长期目标，如初期销售额、市场份额、品牌知名度等 预算范围：确定可用于代运营的费用预算，包括基础服务费和佣金提成 期望服务内容：全店托管还是部分模块托管（如仅需视觉设计、直通车推广或客服等） | 服务河畔 | 服务内容 | 服务标准 | | --- | --- | --- | | | 人群定位、产品上新、商品上下架无线端运营、品牌 策划营销、产品卖点分析及文案设计、手淘搜索优 | | | | | 根据产品数据和甲方需求定 | | 品牌运营 | 化、手淘首页优化、宝贝权重提升优化、运作成本及 | 案对每个维度数数据设定达 | | ...

Core Insights - RuYuchen (003010) has submitted a listing application to the Hong Kong Stock Exchange, having transitioned from an e-commerce operation to a strategic brand-building model [1] - The company has established a "0-1-N" brand creation system, demonstrating capabilities in brand development, incubation, and scaling [1] - By the first half of 2025, self-owned brand revenue accounted for 45.75% of total revenue, becoming the core growth engine for the company [1] - RuYuchen successfully launched two proprietary brands: LYCOCELLE (high-end home fragrance) and FineNutri (oral beauty supplements), with the former being the fastest-growing participant in the home cleaning industry in China [1] - The company employs a "full-channel resonance + content-driven" growth model, centering around Douyin to build a comprehensive channel ecosystem and leverage content [1] - The brand-building capability is attributed to cross-category consumer insights and a full-link strategy [1] - The listing in Hong Kong is expected to enhance the company's capital strength, overall competitiveness, international brand image, and overseas financing capabilities [1]

8月20日，该公司披露投资者调研纪要显示，2025年已有多家美妆消费相关企业启动了IPO进程，若羽 臣此前在资本市场已有一定基础，当前公司业务处于快速发展阶段，如自有品牌绽家、斐萃等增长迅 速，此时上市能够借助行业热度，获得资本"活水"，助力公司进一步扩张。本次港股上市融资计划用于 产品开发、品牌建设、全球化布局、数字化建设等，有利于进一步巩固公司优势，提升公司影响力等。 据弗若斯特沙利文数据，绽家在2022年至2024年间零售额复合增长率达72.6%；2025年上半年，绽家实 现营业收入4.44亿元，同比增长157.11%；斐萃是在12个月内最快突破5亿元零售额的美容类膳食补充剂 品牌；2025年8月单月全渠道GMV(商品交易总额)达1.59亿元。根据弗若斯特沙利文资料，按2025年8月 零售额计，斐萃在抖音平台的膳食补充剂品类旗舰店中位列榜首。 据申请资料，2025年上半年，绽家与斐萃自营渠道产生的GMV分别占抖音渠道整体GMV的超过六成及 八成。2024年，绽家在天猫、抖音、小红书等平台GMV均录得三位数增长；斐萃上市后12个月累计 GMV超过5.17亿元。 在申请资料中，若羽臣也提及了后续战略规划：公 ...

Core Viewpoint - Guangzhou Ruoyuchen Technology Co., Ltd. (hereinafter referred to as "Ruoyuchen") has submitted an application for overseas listing (H-shares) on the Hong Kong Stock Exchange, marking a strategic transition towards a technology-driven brand platform with a focus on consumer-centric brand creation and incubation [2][6] Group 1: Company Development and Strategy - Ruoyuchen has experienced rapid growth in revenue and net profit for three consecutive years, with the upcoming Hong Kong listing aimed at enhancing capital strength and international brand image [2][6] - The company has successfully transitioned from e-commerce operations to developing its own brands, with self-owned brand revenue reaching 603 million yuan in the first half of 2025, a significant year-on-year increase of 242.42% [3][4] - The strategic shift is driven by deep insights into changing consumer demands, moving from functionality to a focus on aesthetic perception, value recognition, and experiential context [3][4] Group 2: Brand Performance - Ruoyuchen has successfully launched two major self-owned brands: LYCOCELLE and FineNutri, with LYCOCELLE focusing on high-end scented home cleaning products and FineNutri specializing in oral beauty supplements [3][4] - LYCOCELLE achieved a revenue of 444 million yuan in the first half of 2025, reflecting a year-on-year growth of 157.11%, while FineNutri became the fastest beauty dietary supplement brand to surpass 500 million yuan in retail sales within 12 months [4] Group 3: Future Plans and Market Expansion - The company plans to leverage the advantages of the Hong Kong capital market to deepen its globalization strategy, focusing on expanding its self-owned brands into Southeast Asia and pursuing strategic acquisitions of high-potential overseas brands [6][7] - Future brand strategies will include building a multi-brand matrix centered on "quality," "self-appreciation," and "health," while embracing digital communication to integrate brands into consumers' daily lives [6][7]

Core Viewpoint - Ruoyuchen has submitted an application for H-share listing on the Hong Kong Stock Exchange, aiming to leverage capital market advantages for global expansion and brand development [1][2][3] Financial Performance - In the first half of 2025, the company achieved revenue of 1.319 billion yuan, a year-on-year increase of 67.55%, and a net profit attributable to shareholders of 72 million yuan, up 85.60% [1] - The self-owned brands, Zhanjia and Feicui, showed strong growth, with self-owned brand revenue reaching 603 million yuan, a year-on-year increase of 242.42%, accounting for 45.75% of total revenue [1] Brand Growth - Zhanjia's retail sales compound annual growth rate (CAGR) is projected at 72.6% from 2022 to 2024, with revenue of 444 million yuan in the first half of 2025, a year-on-year increase of 157.11% [1][2] - Feicui became the fastest beauty dietary supplement brand to surpass 500 million yuan in retail sales within 12 months, achieving a monthly GMV of 159 million yuan in August 2025 [1][2] Market Position - In the first half of 2025, Zhanjia and Feicui's self-operated channels accounted for over 60% and 80% of the overall GMV on Douyin, respectively [2] - Zhanjia recorded triple-digit growth in GMV across platforms like Tmall, Douyin, and Xiaohongshu in 2024 [2] Strategic Planning - The company plans to utilize the advantages of the Hong Kong capital market to deepen its global strategy, focusing on overseas expansion in Southeast Asia and pursuing strategic acquisitions of differentiated and high-potential overseas brands [2][3] - The funds raised from the Hong Kong listing will be allocated to product development, brand building, global expansion, and digital construction, enhancing the company's competitive edge and influence [3]