Carote Ltd
HHKEX:25493.78
HKD
+0.06
(+1.48%)
ISIN
KYG1917P1072
CUSIP
G1917P107
Return %
Stock
S&P 500
1Y
-15.44
14.20
3Y
- -
81.12
5Y
- -
68.34
Capital Structure
CNY
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
CNY
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in mil. unless spec.Semi-annual Revenue
CNY
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in mil. unless spec.Semi-annual Earnings Per Share
CNY
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in mil. unless spec.Semi-annual Dividends Per Share
CNY
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in mil. unless spec.Company Description
- CEO
- Guo Dong Zhang
- Full Time Employees
- 257
- Sector
- Consumer durables
- Industry
- Home furnishings
- Address
- Tower 6 Hangzhou ZH China
- IPO Date
- Oct 2, 2024
- Website
- mycarote.com
- Similar Companies
- Business
- Carote Ltd (2549.HK) is a Cayman Islands-incorporated investment holding company principally engaged in the design, manufacture and sale of kitchenware products under the CAROTE brand and through original design manufacturing (ODM) services to international brand-owners and retailers; it operates in two segments encompassing branded business focused on direct sales of CAROTE products and ODM business providing customized kitchenware. The company's core offerings include cookware such as non-stick pots and pans, cast iron pots, curated cookware sets, fry pans, saucepans and detachable-handle sets compatible with gas, induction and other stovetops; kitchen utensils comprising kitchen organizers, containers, knives, cutting boards, spatulas and ladles; drinkware featuring water containers, glasses and mugs; bakeware; and other items like tableware and small kitchen appliances including air fryers and electronic cooking pots, all emphasizing non-stick technology, PFOA-free coatings, even heat distribution, durability and easy cleaning; products are sold primarily through online platforms such as Amazon, Walmart and Tmall, with emerging offline channels and multi-channel expansion. Founded in 2007 through subsidiary Zhejiang Carote and headquartered at 3rd–5th Floor, Unit 1, Tower 6, Sunshine City, Xiaoshan District, Hangzhou City, Zhejiang Province, China (relocated in January 2025 from prior Shanshui Shidai Building location), Carote serves consumers in Mainland China, the United States (key market contributing 67% of 2024 branded revenue), Western Europe, Japan, Southeast Asia and other international regions across approximately 19 countries, positioning as one of the fastest-growing global online kitchenware brands with a focus on modern cooking lifestyles, functionality and value. In recent developments, the company listed on the Hong Kong Stock Exchange Main Board on October 2, 2024 via global offering raising net proceeds of HK$843 million earmarked for acquisitions, product development (initially utilized HK$3.1 million), sales channel expansion, ESG investments and working capital; it achieved robust 2024 financial growth with total revenue up 31% to RMB2.07 billion (89.7% from branded business), gross profit up 47.8% to RMB835 million at 40.3% margin and net profit up 50.5% to RMB356 million, driven by over 1,700 new SKUs, U.S. branded revenue surging 69% to RMB1.25 billion via diversified online channels beyond Amazon and product lines, enhanced procurement efficiencies and strategic branded focus; for 2025, Carote advances a multi-brand strategy pilot in the U.S. (expanding to China and Japan), intensifies R&D for product diversification across cookware, utensils and drinkware categories, pursues retailer partnerships for offline growth, targets Europe and emerging markets like Eastern Europe, South America and Australia to counter U.S. tariff risks, and optimizes organization, supply chain and talent amid global economic challenges. As a subsidiary of Yili Investment Holdings Ltd with around 188 employees, Carote maintains stable ODM revenue growth at 4.7% in 2024 while prioritizing branded expansion through innovation, channel diversification and cost control.