Joyoung Co., Ltd. (002242) Limit-Up Analysis: Innovative Products and Performance Improvement Drive Market Enthusiasm

Joyoung Co., Ltd. (002242)’s recent limit-up is mainly driven by three positive factors: performance improvement, product innovation, and industry policy support [0]. The 2025 Q3 report shows that the net profit attributable to shareholders increased by 26.03% year-on-year, and the gross profit margin improved [0]; the “Hakimi North-South Mung Bean Soy Milk” launched in November has attracted market attention with its cartoon packaging and health concept [3], although there is a misunderstanding about its similarity to the “Hakimi” IP name [3]; in 2023, the company sold its equity in Joyoung Soybean Industry to focus on core categories (soy milk makers, wall breakers, etc.), and its market share remains among the top three in the industry [0]. In addition, it holds a 7.92% stake in Deep Thinking AI Company, laying out AI collaboration [0]; the small home appliance industry has benefited from consumption upgrade and national subsidy policies, showing steady growth in 2025 [4][5].

1. Product Innovation and IP Effect Overlap
   : “Hakimi Soy Milk” quickly gained market attention by leveraging the popular IP name, reflecting consumers’ demand upgrade for personalized and healthy products [3][4].
2. Strategic Focus Enhances Profitability
   : After divesting non-core businesses (Joyoung Soybean Industry), the company’s gross profit margin improved and its core category competitiveness was enhanced [0][1].
3. Policy and Market Resonance
   : National subsidy policies promote home appliance consumption upgrade, and Joyoung’s innovative products (such as Hakimi Soy Milk) align with policy orientation, forming a growth synergy [4][5].

• Sustainability of product popularity is questionable: The market popularity of “Hakimi Soy Milk” may be affected by IP relevance (misunderstanding), and if consumers’ perception adjusts, it may lead to demand fluctuations [3];
• Intensified industry competition: There are many participants in the small home appliance industry, and innovative products are easily imitated [5];
• Policy change risk: Adjustments to national subsidy policies may affect industry growth expectations [4].

• National subsidy policy window: The company can further launch upgraded products that comply with policies to expand market share [4];
• AI collaboration potential: The layout of Deep Thinking AI is expected to empower product intelligence and improve user experience [0];
• Consumption upgrade trend: Demand for healthy and personalized small home appliances continues to grow, and the company can deepen into segmented markets [5].

Joyoung Co., Ltd. (002242)’s limit-up is the result of three positive factors: performance improvement, product innovation, and industry policies. The company focuses on core businesses, launches innovative products that meet market demand, and benefits from industry policy support. However, attention should be paid to the sustainability of product popularity and industry competition risks.