Loading…
Chinese e-commerce operator running online stores and marketing for consumer brands on Tmall/JD-type platforms.
Chinese e-commerce operator running online stores and marketing for consumer brands on Tmall/JD-type platforms.
Runs brands' online stores on large marketplaces and earns either a service fee, or the gap between what it pays for goods and what it sells them for, so income follows sales it generates for each brand and the brands it keeps signed. Contracts are renewable, and clients can move to another operator.
In one line: A Chinese Amazon-marketplace "brand agency" (Tmall Partner).
Moat: none (customer relationships). Agency model with low switching costs for brand clients and thin margins.
Headquarters: Guangzhou, Guangdong, China · Employees: 964
Size Guangzhou Ruoyuchen Technology (003010.SZ) is a China Consumer Discretionary company (Internet Retail) with a market value of $1.31B, the 1840th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥28.46 on 6 Nov 2026.
Performance Over six months the shares fell 8.2%, against +5.7% for the median peer and -16.4% for the China market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 75.0% over the last twelve months (peer median +2.0%); the operating margin is 10.0% (peer median 2.2%).
Valuation It trades at 23.0× forward earnings against a peer median of 27.0× (8th cheapest of 17).
Price implies For today's price to make sense, revenue must grow about 2% a year for seven years (Req g). Recent delivered growth is +25%, so the hurdle is -23 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 25.1 points above its cost of capital (5.7% WACC).
Next results Next results expected around 31 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥4.81B | CN¥3.42B | CN¥1.76B | CN¥1.36B | CN¥1.21B |
| Revenue growth | — | +94% | +29% | +12% | — |
| Gross profit | CN¥3.11B | CN¥2.02B | CN¥759M | CN¥526M | CN¥389M |
| EBITDA | n/a | CN¥276M | CN¥147M | CN¥64.1M | CN¥28.8M |
| Net income | CN¥321M | CN¥194M | CN¥106M | CN¥54.3M | CN¥33.7M |
| Free cash flow | CN¥595M | CN¥144M | CN¥319M | -CN¥94.9M | CN¥158M |
| Capital expenditure | CN¥12.7M | CN¥11.4M | CN¥14.8M | CN¥4.01M | CN¥69.0M |
| Total debt | CN¥1.06B | CN¥1.06B | CN¥318M | CN¥176M | CN¥61.8M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Guangzhou Ruoyuchen Technology 003010.SZ | $1.31B | -8% | +75% | 10% | 23.0× | 1.7% |
| Huakai Yibai Technology 300592.SZ | $966M | +27% | -11% | 7% | 15.7× | 3.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 003010.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.3% | -1.1% | 6th highest of 21 |
| 6-month return | -8.2% | +5.7% | 8th lowest of 21 |
| Distance from 52-week high | -33.5% | -25.2% | 8th lowest of 21 |
| Revenue growth (TTM) | +75.0% | +2.0% | 2nd highest of 21 |
| Operating margin | 10.0% | 2.2% | 4th highest of 21 |
| Forward P/E | 23.0× | 27.0× | 8th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | 1.7% | 6.6% | 4th least demanding of 14 |
| Growth delivered (Del g) | +24.7% | +3.9% | 2nd highest of 14 |
| Hurdle (Req g minus delivered) | -23.0 pp | +2.7 pp | 2nd least demanding of 14 |
| ROIC minus cost of capital | +25.1 pp | -3.2 pp | highest of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Guangzhou Ruoyuchen Technology 003010.SZ | China | $1.31B | -8% | +75% | 10% | 23.0× | 1.7% | +24.7% |
| Revolve RVLV | United States | $1.32B | -11% | +15% | 6% | 20.4× | n/a | n/a |
| Liquidity Services LQDT | United States | $1.37B | +21% | +5% | 9% | 24.8× | 16.2% | +18.3% |
| Vedant Fashions MANYAVAR.NS | India | $1.22B | +6% | +2% | 32% | 29.6× | 21.4% | +21.5% |
| LuxExperience B.V. Sponsored ADR LUXE | United States | $1.40B | +20% | +111% | -6% | 194.0× | n/a | n/a |
| Akso Health Group Sponsored ADR AHG | United States | $1.14B | -34% | -6% | -29% | n/a | n/a | n/a |
| RealReal REAL | United States | $1.61B | +25% | +18% | 0% | 47.8× | n/a | n/a |
| NanJi E-Commerce 002127.SZ | China | $1.05B | -1% | -28% | -12% | 29.9× | 6.4% | -9.0% |
| IndiaMART InterMESH INDIAMART.NS | India | $985M | -26% | +12% | 34% | 17.0× | 8.2% | +18.6% |
| Huakai Yibai Technology 300592.SZ | China | $966M | +27% | -11% | 7% | 15.7× | 3.4% | +132.3% |
| Global Industrial GIC | United States | $1.77B | +59% | +10% | 8% | 22.4× | 1.3% | +6.0% |
| THG THG.L | United Kingdom | $877M | +30% | +10% | -1% | n/a | n/a | n/a |
| Petco Health & Wellness WOOF | United States | $848M | +5% | -1% | 3% | 12.5× | 6.6% | +3.9% |
| Hangzhou Onechance Tech Crop 300792.SZ | China | $839M | -32% | -19% | 9% | 46.2× | 19.9% | -3.7% |
| Aucnet 3964.T | Japan | $824M | +12% | +12% | 15% | 15.5× | 0.1% | +21.6% |
| Global Top E-Commerce 002640.SZ | China | $757M | -12% | -6% | 1% | n/a | 33.4% | -19.8% |
| AO World AO..L | United Kingdom | $687M | +6% | +11% | 4% | 13.3× | 3.0% | -5.3% |
| ASKUL 2678.T | Japan | $682M | +2% | -20% | -5% | 29.2× | n/a | n/a |
| Yiwu Huading Nylon 601113.SS | China | $670M | -28% | -5% | 1% | 41.2× | n/a | n/a |
| ASOS ASC.L | United Kingdom | $670M | +88% | -15% | -1% | n/a | 1.2% | -5.5% |
| Groupon GRPN | United States | $630M | -13% | +2% | 2% | 33.7× | 27.5% | -18.9% |