未知机构：国泰海通美护润本股份驱蚊旺季叠加青少年推新有望打开品类拓展空间继续重点-20250512

Company and Industry Summary Company: Runben Co., Ltd. (润本股份) Key Points - Seasonal Growth in Mosquito Repellent Products The company is entering the peak season for mosquito repellent products, with April expected to benefit from rapid offline growth. According to data from Chian Mama, Runben's GMV on Douyin reached 90 million, representing a year-on-year increase of 31% [1] - Channel Strategy Adjustment The company is adjusting its cooperation model with Sam's Club, shifting to a direct supply model this year. This change is expected to enhance collaboration and drive future growth, particularly in the sales of mosquito repellent liquid [1] - New Sunscreen Product Launch Runben is set to launch a new youth-oriented sunscreen series in May, which is anticipated to open up growth opportunities. The new sunscreen gel is projected to achieve a GMV of nearly 50 million, indicating effective expansion in the sunscreen category [2] - Market Potential in Youth Skincare The youth skincare and personal care market is estimated to be around 4.5 billion in 2023, with double-digit year-on-year growth. Competitors like Haigui Baba and Kangaroo Mama are also focusing on the youth category, achieving GMVs of 500 million and 300 million respectively, which suggests a growing market [2] Additional Important Insights - Overall Channel Growth The company is expected to maintain rapid growth across all channels, benefiting from strong performance in the Sam's Club channel [1][2] - Market Trends The data indicates a significant trend towards youth skincare products, highlighting a shift in consumer preferences and potential for market expansion [2]