On June 12th, Huakai Yibai (300592) announced that its wholly-owned subsidiary, Shenzhen Yibai Network Technology Co., Ltd. (referred to as "Yibai Network"), will invest a total of 320 million yuan in the silver hair economy track through a combination of "capital increase and holding + asset acquisition", acquiring the core brand HOMLAND and improving the cross-border e-commerce boutique business matrix.

This transaction is divided into two main parts. First, Yibai Network will invest 120 million yuan to increase capital in Shenzhen Bishuihe Technology Co., Ltd. (referred to as "Shenzhen Bishuihe"), and after the capital increase, it will hold 60% of the equity of Shenzhen Bishuihe, which will become a controlled subsidiary of the company and be included in the consolidated statement scope. Second, Shenzhen Bishuihe's wholly-owned subsidiary, Hong Kong Bishuihe Technology Co., Ltd., will acquire intangible assets such as e-commerce platform stores, inventory, trademark patents, and core operating assets held by Hong Kong Hongji Holding Co., Ltd. for a consideration of 200 million yuan, with the core target being the home medical assistance brand HOMLAND.

HOMLAND has been deeply cultivating the American silver hair market, focusing on household medical assistance products such as shower chairs, walking aids, and safety handrails, focusing on the independent living needs of the elderly population, and has established a mature brand awareness and stable user base overseas, with high repurchase and high gross profit track advantages. By 2025, the unaudited revenue of the corresponding asset group of this brand will reach 290 million yuan, with outstanding market competitiveness.

To ensure the effectiveness of the transaction, this acquisition has set clear performance commitments. The transaction party promises that the net profit after deducting non-recurring gains and losses of Shenzhen Bishuihe in 2026 and 2027 will not be less than 30 million yuan and 40 million yuan respectively, and the cumulative net profit commitment for the two years will not be less than 70 million yuan.

Huakai Yibai stated that this acquisition is an important layout for the company's cross-border e-commerce business to upgrade towards specialization, branding, and verticalization. Relying on HOMLAND's mature brand assets, product system, and overseas channels, the company will quickly enter the high-growth potential household medical assistance equipment track, gradually build a one-stop home-based elderly care solution, and strengthen its market position in the silver hair economy field.

It is worth noting that this transaction is Huakai Yibai's second billion-level cross-border brand acquisition within two months. In April 2026, the company has spent more than 110 million yuan to acquire golf category brand assets, continuously deepening the high-order single and low-competition vertical boutique track through mergers and acquisitions, optimizing the business structure and profit space.

As of the first quarter of 2026, Huakai Yibai achieved a revenue of 1.924 billion yuan, a net profit attributable to the parent company of 71.54 million yuan, and its main cross-border e-commerce business maintained steady growth. The company will take this acquisition as an opportunity, combined with its own supply chain, operation, and capital advantages, to promote the HOMLAND brand to continue to deepen the North American market, while exploring category extension and regional expansion, helping the company achieve long-term high-quality development.