On May 18, Guangdong Deerma Technology Co., Ltd., GenBridge's portfolio, an innovative home appliance brand, was officially listed on the ChiNext board of the Shenzhen Stock Exchange (stock code: 301332). This successful IPO will help Deerma maintain its leading position in the innovative home appliance market and lay a solid foundation for its accelerated global expansion.
At the listing ceremony, Mr.Tieqiang Cai, Chairman of Deerma, stated: "Deerma was born in the internet era and grew through physical manufacturing. Rooted in China with a global vision, we are grateful for the entrepreneurial opportunities, development environment, and social recognition provided by this new era. Today, Deerma stands at a new starting point. We see the listing as a historic opportunity to embark on a new journey. By leveraging the capital market, we will continue to enhance product innovation and corporate governance, create better products for consumers, deliver higher value to shareholders, and shoulder greater responsibility for society."
Robert Chang, Founding Partner of GenBridge Capital, offered congratulations on behalf of the firm: "Congratulations to Deerma on successfully entering the capital market!"
Deerma is an important portfolio in GenBridgel’s “next-generation national brands” investment theme, specifically within the home and lifestyle sector. We were fortunate to become an A+ round investor in 2020. Over the past three years, we have witnessed Deerma’s transformation and rapid growth: from establishing its own brand to forming a dual-brand matrix with a top global brand; from cost-effective products to technologically advanced and fashionably designed innovations; and from online operations to omnichannel sales expanding into the global market. We firmly believe that this listing will empower Deerma to create new value on a larger stage and become a global leader in the small home appliance industry.
Creating innovative small appliances for a better home living experience
Deerma is an innovative home appliance brand that integrates independent R&D, original design, in-house manufacturing, and self-operated sales. Facing strong market demand, the company positions itself as a “Lifestyle Innovator,” focusing on internet-driven innovative home appliances. It targets various consumer segments and business models through multiple brands, diving deep into specific consumption scenarios and carving out a distinctive path driven by product excellence and brand innovation.
Currently, the company has established a dual-brand matrix with "Deerma" and "Philips." From 2020 to 2022, sales of these two core brands continued to grow, together accounting for 74.07%, 68.17%, and 77.46% of total revenue from main operations in respective years. The Deerma brand primarily focuses on small appliances for home environment improvement, while the Philips brand emphasizes water health and personal health appliances.
Consumer upgrades have also brought new opportunities for small home appliance innovation. High-end, smart, and health-focused products are increasingly favored by consumers. Deerma continues to drive innovation, deeply understanding consumer needs and placing those needs at the core of product development. The company emphasizes wireless, portable, multifunctional, smart-connected, and health-oriented design, constantly expanding its product range.
In addition, Deerma consistently increases its investment in innovation, fostering a virtuous cycle of product upgrades and innovation to enhance user experience. From 2020 to 2022, Deerma’s R&D investment had a compound annual growth rate (CAGR) of 27.71%, reaching RMB 122 million in 2022 and showing a continuous upward trend.
Thanks to its keen insight into consumer needs, Deerma has developed multiple star products in home health, water health, and personal care sectors. Its strong product capabilities have positioned Deerma among the top sellers on major e-commerce platforms such as Tmall, Taobao, JD.com, and TikTok. Furthermore, Deerma continues to deepen and expand its product lines around core themes like cleaning and health.
Looking ahead, Deerma will remain consumer-centered and leverage its deep market understanding to refine every stage—product discovery, category research, product definition, design, and R&D. The company will continue to advance along the path of product-driven and brand-led innovation, creating more standout flagship products.
Enhancing production and building an extreme supply chain to accelerate global expansion
Since its founding in 2011, Deerma has spent nearly 12 years growing within the small home appliance sector. Its success has been supported by the Pearl River Delta's industrial cluster and efficient supply chain. The stability and competitiveness of this ecosystem have nurtured the company’s growth. Leveraging this natural supply chain advantage, Deerma has steadily invested in its own production capacity since 2014. After nearly a decade of development, the company now boasts strong in-house manufacturing capabilities. From 2020 to 2022, Deerma’s total production capacity increased from 9.24 million to 14.7 million units, with a CAGR of 26%. Capacity utilization remained consistently above 85%.
In addition, Deerma has increased investment in automation to raise efficiency at every stage of production. As part of its IPO-funded projects, the company will actively promote the construction of an intelligent home appliance manufacturing base, further increasing the proportion of self-produced products and enhancing its core technological competitiveness. In the future, Deerma will continue to integrate upstream and downstream resources in the small appliance sector, strengthening its supply chain coordination and building a world-class "extreme supply chain" powered by robust self-manufacturing capabilities.
Relying on its efficient supply chain and the global brand appeal of Philips, Deerma actively expands its overseas sales channels. The company pursues a dual-engine strategy: exporting both China’s consumer upgrade momentum and manufacturing excellence to the world. Currently, Deerma’s overseas sales span regions such as Hong Kong, Brazil, South Korea, Russia, Ukraine, Indonesia, Japan, and Thailand. From 2020 to 2022, overseas revenue grew from RMB 232 million to RMB 446 million, with a CAGR of 38.58%.
Deerma is committed to its long-term mission of “improving the details of everyday life through product innovation, helping users enhance their quality of living.” GenBridge Capital believes that under the leadership of founder Tieqiang Cai, Deerma will continue accelerating innovation and improving the quality of home living, enabling users worldwide to enjoy the beauty of life in the tech-driven era.