The company successfully launched three major self-owned brands: Zhanjia, Feicui, and Niu Yibei.
According to Zhitong Finance, Guangzhou Ruoyuchen Technology Co., Ltd. (003010.SZ) submitted its listing application to the Hong Kong Stock Exchange on April 27, 2026, with China Securities JianTou International and GF Securities serving as joint sponsors.
According to the prospectus, Ruoyuchen is a new consumer brand company centered on consumers, committed to meeting their needs in efficacy, emotional value, scenario experience, and self-expression through high-quality, differentiated products.
Ruoyuchen focuses on creating and expanding brands deeply rooted in the lives of China’s new consumer groups, particularly targeting senior middle-class individuals, emerging white-collar workers, and refined mothers. Its aim is to address unmet demands, resonate with shared values, and build deep connections at preferred touchpoints. The company's business is structured around three main divisions: proprietary brand development, brand management services, and e-commerce operations.
Leveraging core capabilities such as accurately identifying specific consumer groups and usage scenarios, optimizing content-driven sales strategies, and swiftly translating consumer insights into best-selling products, the company successfully launched three key proprietary brands: Zhanjia, Feicui, and Nyubest.
Zhanjia: Focused on premium home cleaning and care products, it captures indulgent cleaning scenarios through concepts like 'specialized garment care' and 'fragrance-based cleaning.' During the development of Zhanjia products, Ruoyuchen uses refined fragrances to enhance sensory appeal and functional quality, solidifying Zhanjia's strategic focus on long-lasting fragrance and high-end scented products. According to Frost & Sullivan, for the fiscal year ending December 31, 2025, Zhanjia ranked third and fourth among fabric cleaning and care flagship stores on Tmall and Douyin, respectively, by retail sales.
Feicui: Feicui is the company's premium oral beauty brand, designed for consumers who prioritize ingredient transparency and visible anti-aging effects. Its products feature multi-component formulations that are precisely balanced and enriched with various active functional ingredients (such as ergothioneine and ruby oil), addressing diverse skincare and health needs with complementary benefits. According to Frost & Sullivan, as of the latest practicable date, Feicui is the fastest-growing Chinese beauty-focused dietary supplement brand, surpassing RMB 500 million in retail sales since its launch.
Nyubest: Positioned in the mass consumer market, Nyubest targets consumers who value simplicity, affordability, and daily efficacy. Launched in June 2025, Nyubest emphasizes single-ingredient formulations to simplify consumer decision-making. Its flagship product, ergothioneine capsules, is priced at RMB 99 for 30 capsules, offering an affordable and convenient option for everyday supplementation. The brand gained immediate market attention upon its debut, achieving cumulative retail sales exceeding RMB 160 million as of the latest practicable date.
In terms of market size and competition, Ruoyuchen's proprietary brands primarily focus on home cleaning and care products and dietary supplements. China's home cleaning and care industry is highly competitive and relatively fragmented, with numerous market participants. According to Frost & Sullivan, the market size of China’s home cleaning and care industry grew from RMB 117.2 billion in 2019 to RMB 150.1 billion in 2024 and is projected to reach RMB 217.3 billion by 2029, reflecting a compound annual growth rate (CAGR) of 7.7% from 2024 to 2029. In 2024, the top five brands collectively accounted for approximately 34.6% of the home cleaning and care market by retail sales. Specifically, the market size of China’s premium laundry detergent segment (i.e., detergents priced at RMB 50 or more per 1,000 milliliters) reached RMB 8.3 billion in 2024 and is expected to grow at a CAGR of 13.7% between 2024 and 2029, reaching RMB 15.7 billion by 2029. By retail sales in 2024, Ruoyuchen’s Zhanjia brand ranked fifth in this premium laundry detergent sub-market.
China’s dietary supplement market is also characterized by numerous participants and relative fragmentation. In 2024, the top five brands collectively accounted for approximately 25.0% of the market share by retail sales. Notably, as of the latest practicable date, Ruoyuchen’s Feicui brand emerged as the fastest-growing beauty-focused dietary supplement brand in China, surpassing RMB 500 million in retail sales since its inception. In 2024, based on retail sales generated across China’s broader health category, the company ranked fourth in the e-commerce solutions industry.
Financially, for the fiscal years 2023, 2024, and 2025, Ruoyuchen reported revenues of approximately RMB 1.366 billion, RMB 1.766 billion, and RMB 3.432 billion, respectively, with annual profits of approximately RMB 54 million, RMB 106 million, and RMB 194 million, respectively.
