Group 1 - Different Group plans to officially list on the Hong Kong Stock Exchange on September 23, 2025, with its subsidiary BeBeBus issuing 10,980,900 shares in the IPO [1] - The IPO will consist of 1,098,100 shares for public offering in Hong Kong and 9,882,800 shares for international offering [1] Group 2 - BeBeBus, founded in 2019, has become a well-known brand in the Chinese parenting products market [3] - In the first half of 2025, the company achieved revenue of 726 million yuan, representing a year-on-year growth of 24.7% [3] - Revenue from baby care products reached approximately 307 million yuan, accounting for 42.3% of total revenue, with sales of about 155 million baby diapers and 1.126 million packs of wet and soft towels [3] - The significant growth in baby care product revenue is attributed to an expanded product range, with the number of SKUs increasing from 142 in 2022 to 290 in the first half of 2025 [3]