---
title: "Earnings Deep Dive | Ruoyuchen FY2021 — Rev ¥1.29B (+13%), Own Brands Emerging"
author: "Unique Research"
sourcePublication: "Unique Research (FFCAP English library)"
originalPublishedAt: "2022-06-08T21:54:20+08:00"
canonical: "https://ffcap.cn/en/research/20220608a0cqps00"
source: "https://ffcap.cn/en/research/20220608a0cqps00"
language: "en"
cnSourceUrl: "https://view.inews.qq.com/a/20220608A0CQPS00"
---

# Earnings Deep Dive | Ruoyuchen FY2021 — Rev ¥1.29B (+13%), Own Brands Emerging

_Unique Research · Insight / Earnings · June 8, 2022 · Full rewrite — not a stub_

SZSE:003010 FY2021 (filed Apr 22’22): rev **¥1.288B** (+13.4%), GM 31.6%, attributable NI ¥29.2M (down vs ’17–’20 ¥58–89M as own brands incubate). Segments: online agency ops ¥802M (+24%, 42% GM) / channel distribution / brand planning ¥88M (+11%). Beauty & personal care 46% of rev (¥552M). Overseas rev ¥314M ’21 (vs ¥210M ’19 / ¥289M ’20; >20% mix). New logos: Pulse, Junlebao, Danone, Costa, Solid Gold, k9natural… Charts in CN images — attach on ingest.

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Editorial English edition published on UniqueCapital: https://ffcap.cn/en/research/20220608a0cqps00
On-site reading page: https://ffcap.cn/en/research/20220608a0cqps00