Zhitong Financial APP learned that Bette Group Holdings Limited submitted an application for listing on the main board of the Hong Kong Stock Exchange on May 10, with Zhifu as the exclusive sponsor.

The company is mainly engaged in the design, development, manufacture and sale of all kinds of commonly used household necessities, such as (I) laundry products; (ii) household cleaning appliances; and (iii) kitchen utensils. The company's business is export-oriented, laundry products are mainly sold to the United Kingdom, Germany and Australia, and household cleaning appliances are mainly sold to the United States.

For the years ended December 31, 2018, 2019 and 2020, the total sales from these countries were about 302.5 million yuan, 310.9 million yuan and 342 million yuan respectively, accounting for about 92%, 92.3% and 88.9% of the company's total annual revenue, respectively. According to the report, the company ranks second in terms of export earnings of China's clothes dryer manufacturing market in 2020, with a market share of about 6.6%.

The company mainly conducts business on the basis of OEM and ODM. The company's OEM business involves the production and sale of products according to customer requirements and guidelines. For products developed and manufactured according to the ODM benchmark, the company will convert customers' ideas and concepts into physical products according to the different degrees of participation of the product design and development team, so that customers can enjoy a "one-stop service" covering customized product design, raw material selection, production and quality control.

On the financial front, the revenue generated from the sale of products for the years ended 31 December 2018, 2019 and 2020 was about $328.7 million, $336.6 million and $384.7 million respectively. Profits for the same period were 40.99 million, 34.05 million and 46.25 million.