Runben Bio Received IPO Approval to be China’s First Infant and Toddler Care Listing Company

Runben Bio received IPO approval from the Listing Committee of the Shanghai Stock Exchange, which will make Runben Bio China’s first infant and toddler care listing company.

According to the China Securities Regulatory Commission, on June 20th, Runben Biotechnology Co., Ltd. (hereinafter referred to as “Runben Bio”) was approved for its initial public offering by the Listing Committee of the Shanghai Stock Exchange. This also means that the first infant and toddler care listing company is about to be born.

According to the prospectus, Runben Bio was established in 2013 and is mainly engaged in the research, development, production, and sales of mosquito repellent and personal care products. At present, it has formed three core product lines: mosquito repellent products, infant and toddler care products, and essential oil products.

Data from the prospectus of Runben Bio shows that from 2020 to 2022, Runben Bio achieved operating revenues of 443 million yuan ($61.61 million), 582 million yuan ($80.94 million), and 856 million yuan ($119.04 million), respectively; net profits were 95 million yuan ($13.21 million), 121 million yuan ($16.83 million), and 160 million yuan ($22.25 million), respectively.

It is worth noting that in the updated prospectus of Runben Bio on June 13th, predictions were made for the operating income and net profit for the first half of 2023. The data shows that from January to June this year, Runben Bio is expected to achieve operating revenues of 610 million yuan ($84.83 million) to 630 million yuan ($87.61 million), a year-on-year increase of 38.96% to 43.51%, while net profit is expected to be 110 million yuan ($15.30 million) to 120 million yuan ($16.69 million), a year-on-year increase of approximately 40.04% to 52.77%, reaching a new high in net profit growth.

In terms of products, the main operating income of Runben Bio comes from mosquito repellent series products, infant and toddler care series products, essential oil series products, and other products.

Among them, mosquito repellent products are the company’s core category, with sales revenue volumes maintaining double-digit growth during the reporting period. From 2020 to 2022, Runben Bio’s mosquito repellent series products achieved sales revenues of 169 million yuan ($23.50 million), 228 million yuan ($31.71 million), and 272 million yuan ($37.83 million), accounting for 38.21%, 39.14%, and 31.82% of the main operating revenue, respectively.

Infant and toddler care products have been an important engine for the growth of Runben Bio’s business and net profit in recent years. According to the prospectus, in 2021 and 2022, the company’s infant and toddler care series products saw both volume and price increases, with sales revenue growing by 50.75% and 80.03%, and sales volume growing by 29.14% and 74.85%, respectively.

Runben Bio explained that the growth in sales volume was mainly due to the company’s continuous expansion and improvement of its infant and toddler care series products, launching popular products such as chapped skin cream, lip balm, Runben Dingding Soothing Stick, and anti-chapping cream. For example, Runben Lip Balm’s sales volume growth rates in 2021 and 2022 reached 100.77% and 46.31%, respectively.

It is worth mentioning that in 2022, Runben Bio’s infant and toddler care product revenue reached 390 million ($54.24 million), accounting for 45.59% of the main operating revenue, which is the first time that the revenue and sales share of this business surpassed mosquito repellent products and officially became the largest business segment of Runben Bio.

At present, Runben Bio mainly cooperates with large e-commerce platforms such as Tmall,, Douyin, Vipshop, and Pinduoduo to provide products to consumers through online direct sales, online platform distribution, and online platform consignment sales. During the reporting period, the direct contribution of online channels to sales revenue was 78.73%, 77.72%, and 78.04%, respectively.

It is understood that this IPO of Runben Bio intends to issue no more than 60.69 million shares, with the actual amount of funds raised after deducting issuance costs to be used entirely for the construction of the company’s fundraising projects and the working capital required for the development of fundraising projects. The total amount of funds raised is 903 million yuan ($125.58 million), of which 369 million yuan ($51.32 million) will be used for the Huangpu Factory R&D and industrialization project, and 344 million yuan ($47.84 million) will be used for channel construction and brand promotion projects.




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