Raytech Holding: Making Nasdaq Debut as It Pioneers Personal Care Electrical Appliances in a Booming Market
2024年5月17日 - 9:00AM
JCN Newswire
In the dynamic world of personal grooming, Raytech Holding
(Nasdaq: RAY) emerges as a shining star, dedicated to enhancing
consumer lifestyles through its innovative range of personal care
electrical appliances. Since its inception in 2013, this Hong
Kong-based company has garnered over 10 years of industry
experience, positioning itself as a leading player in the
market.
Exciting news hit the market as Raytech listed on the Nasdaq on May
15, under the symbol ?RAY?, a testament to its remarkable
achievements and future potential. To support its growth ambitions,
the company has raised $6 million through an initial public
offering of 1.5 million shares.
The company excels in sourcing and wholesaling Japan Pure
Beauty-branded personal care and lifestyle electrical appliances
for international brand owners. Its extensive product portfolio
covers a diverse range of categories, including hair styling
appliances, trimmers, eyelash curlers, and more. However, the
company's true expertise lies in sourcing and wholesaling hair
dryers, where it offers a remarkable selection of salon-quality
devices with advanced protective and styling features, as well as
compact designs perfect for travel.
Strong and Long-Term Relation with Key Client
Raytech has forged a formidable and enduring alliance with its
Japanese client, a leading corporation specialized in small
appliance market that's been operating for over 300 years since
1716, and is renowned as one of the top 10 sellers in terms of
retail volume in Japan's thriving personal care electrical
appliance market that commands a prominent position within the
industry.
This partnership has proven to be a financial powerhouse, with the
Japanese client. making substantial contributions to Raytech's
revenue. In both the fiscal years ending on March 31, 2023, and
2022, The Japanese client 's involvement accounted for a remarkable
91.3% and 97.8% of Raytech's total revenue, respectively.
Raytech's unwavering dedication to cultivating enduring business
relationships is exemplified by its longstanding association with
the Japanese client. Leveraging its extensive experience and
expertise in the personal care electrical appliances industry,
Raytech consistently delivers exceptional products and services,
earning the unwavering trust and confidence of the client.
The partnership with the Japanese client not only solidifies
Raytech's market position but also presents a gateway to boundless
growth and expansion. Euromonitor International's study conducted
in December 2023 revealed intriguing insights that the Japanese
market presents ample opportunities for expansion, innovation, and
improved consumer experiences in the personal care appliance
industry. Overall sales value of personal care electrical
appliances in Japan experienced a significant 10.8% increase in
2023. This growth was driven by higher average unit prices and
enhanced product features, particularly in the hair care
segment.
Raytech is also actively seeking to expand its market share in
other markets including the United States, Europe, and Asia as the
global market for personal care electrical appliances has witnessed
remarkable growth, surging to a size of US$22.9 billion in
2023.
Enormous Market Growth Potential
Forecasts from IMARC Group indicate that the market will continue
its upward trajectory, reaching a projected value of US$35.9
billion by 2032, with a compound annual growth rate (CAGR) of 5%
during the period of 2024-2032.
The positive outlook for this market can be attributed to a
multitude of factors. The industry has benefited from the
significant growth of the electronics sector, coupled with rapid
urbanization worldwide. Furthermore, changing consumer lifestyles
and an increased emphasis on personal health and hygiene have been
key drivers of market expansion. A growing trend among male
consumers to maintain beards and experiment with hairstyles has led
to a surge in demand for shavers and trimmers. In response,
manufacturers have introduced innovative products that minimize
damage to hair and skin over prolonged use.
In this dynamic landscape, Raytech has emerged as a leading player,
revolutionizing personal grooming experiences. With a steadfast
commitment to excellence, profound market expertise, and an
unwavering dedication to customer satisfaction, Raytech has
established itself as a trusted partner for international brand
owners. its extensive range of personal care electrical appliances,
with a special focus on hair dryers, effectively meets the diverse
needs of consumers worldwide.
Exceptional and Comprehensive Services Validates Stable Financial
Performance
What sets Raytech Holding apart is its unwavering commitment to
providing value-added services. With a team of highly skilled
professionals boasting a collective industry experience of 16
years, the company not only assists customers in sourcing and
production processes but also offers product design and development
collaboration. its ability to anticipate consumer preferences and
deliver technical recommendations ensures that the personal care
electrical appliance products they create are tailor-made to meet
the unique needs of brand owners.
Therefore Raytech's success is underpinned by its in-depth
understanding of this competitive market landscape, which helps
brand owners navigate the challenges and unlock new opportunities
for growth. Through its extensive market knowledge, Raytech
empowers partners to thrive in the ever-evolving personal care
electrical appliance industry.
In return, the company has demonstrated a commendable financial
performance, characterized by a stable cash flow. In the fiscal
year ending on March 31, 2023, Raytech exhibited strong financial
performance, generating HKD45.52 million (equivalent to US$5.80
million) in revenue and net income of HKD6.29 million (equivalent
to US$0.80 million), resulting in positive cash flow of HKD10.96
million (equivalent to US$1.40 million) from operating
activities.
Similarly in the fiscal year 2022, the company generated HKD45.11
million in revenue and a net income of HKD9.44 million, which led
to Raytech's robust cash flow of HKD8.23 million from operating
activities.
These consistent and impressive cash flows underscore Raytech's
sound financial management practices and its ability to generate
favorable returns. The company's solid financial performance
positions it well for future growth and success in the market,
highlighting its financial stability and prudent operational
strategies.
Looking ahead, Raytech aims to extend its business operations
beyond Hong Kong, targeting the promising markets of the United
States, Europe, and Asia. To support its ambitious expansion plans,
the company intends to increase investments in the sales and
marketing function, particularly in the U.S., Europe, and Asia
markets.
As Raytech embarks on its journey to new markets, its unwavering
commitment to customer satisfaction, proactive marketing efforts,
and strategic resource allocation will continue to contribute to
its success in the highly competitive personal care electrical
appliances industry. By becoming a U.S.-listed public company and
broadening its customer base, while establishing a strong presence
in key regions, Raytech is well-positioned to realize its vision
and achieve sustainable growth.
Media Contact
Raytech Holding Ltd.
Andrew Ling
Email: ling@raytech.com.hk
Website: www.raytech.com.hk/
Telephone: +852 2117 0236
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