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Ruoyuchen (003010): A New Chapter in Household Cleaning, A Highlight in Health Supplements
This paper focuses on the platform-type new consumption target - Ruoyucong. The company has garnered significant market attention through its successful development of multiple proprietary brands and has evolved from an agency-operated enterprise into a platform company driven by three pillars: proprietary brands, brand management, and agency operations. We believe
Shenwan Hongyuan: Cosmetics and medical aesthetics brands achieve steady growth, while the manufacturing sector shows marginal improvement.
It is anticipated that cost-effective light medical aesthetic services will become the main driver for institutional expansion in the future.
Comment on Ruoyuchen's (003010) Proposed Acquisition: Plan to Acquire High-End Skincare Brand Erno Laszlo, Marking the Start of Overseas Expansion
Event: The company announced that its wholly-owned subsidiary intends to acquire Bespoke Holding for a price of USD 43.82 million (approximately RMB 299 million based on the exchange rate on the day of the board meeting) using its own or raised funds.
Ruyuchen has invested 3 billion yuan to acquire the high-end skincare brand Erno Laszlo.
Following the completion of this acquisition, Ruoyuchen will enter the high-end skincare market.
Ruoyu臣 (003010): Strong Growth of Owned Brands, Expecting the Trend to Continue
The company released its 25-year annual report. In 25 years, the company achieved revenue of 3.432 billion yuan, representing a year-on-year increase of 94.35%. The net profit attributable to shareholders was 194 million yuan, up 84.03% year-on-year. The gross profit margin was 59.80%, an increase of 15 percentage points year-on-year.
Ruoyuchen (003010): Strong performance growth continues to validate the success of its proprietary brand.
The company achieved rapid growth in performance, with an acceleration in growth during the fourth quarter. In 2025, the company generated revenue of 3.432 billion yuan, representing a year-on-year increase of 94.35%; net profit attributable to shareholders reached 194 million yuan, up 84.03% year-on-year; excluding