9月23日，高端母婴品牌BeBeBus的母公司不同集团（BUTONG GROUP）正式登陆港交所，截至当天 收盘，股价涨超40%，市值突破93亿港元。 不同集团2018年在浙江宁波成立，2019年，BeBeBus品牌首款婴儿车产品正式上线。经过数年发展，如 今公司产品已全面覆盖亲子出行、亲子睡眠、亲子喂养和卫生护理四大关键场景，构建起完整的母婴产 品矩阵。 财务数据显示，不同集团近三年营收、净利润与毛利率均实现逐年增长，旗下四大场景的产品中，绝大 多数毛利率介于40%—60%之间。值得关注的是，该公司背后汇聚了天图投资、高榕创投、经纬创投等 一批消费赛道的知名投资机构，资本阵容堪称豪华。 "尽管整体人口出生率下降，但我们的产品聚焦'家庭CFO'、走差异化路线，这是支撑业务稳步增长的 重要驱动力。"不同集团联合创始人&CEO沈凌在上市现场接受证券时报记者采访时表示。 差异化创新驱动业绩连年增长 在不少年轻妈妈心中，BeBeBus的产品是"设计佳、颜值高"的代名词，她们也愿意为这份品质与颜值承 担高溢价——这正是当下新一代年轻父母的消费心态。2018年，BeBeBus敏锐捕捉到这一群体的消费需 求变化，加之当时市 ...

Group 1 - BeBeBus's parent company, Different Group, is set to go public with an IPO scheduled for September 23, following a successful public offering from September 15 to 18, attracting $15 million in subscriptions from cornerstone investors [1] - BeBeBus has rapidly established itself as a leading brand in the domestic maternal and infant industry within five years, leveraging original design aesthetics and differentiated products to rise to prominence [1] - The company has experienced significant valuation growth, from 300 million yuan to 2 billion yuan, following three rounds of financing between 2020 and 2021, indicating strong commercial value [1] Group 2 - The high-end parenting market in China is expanding, driven by the upcoming national childcare subsidy policy set to be implemented by 2025, leading to a shift from homogeneous competition to a more refined market structure [1] - BeBeBus emphasizes "self-expression" over "functional attributes," utilizing user co-creation to link deeply with consumer needs, which drives continuous product iteration and innovation [2] - Financially, Different Group has shown remarkable growth, with revenue increasing from 507 million yuan in 2022 to 1.249 billion yuan in 2024, and adjusted net profit CAGR soaring to 236.8% during the same period [2]