Anhui Korrun Co., Ltd. is a vertically integrated travel consumer goods company headquartered in Chuzhou, Anhui, China, and listed on the Shenzhen Stock Exchange ChiNext Board (300577). It employs a unique dual-engine model of “B2B (ODM/OEM manufacturing) + B2C (own brand)”, with its own production bases in Chuzhou, Indonesia, and India. It provides R&D and manufacturing of luggage and apparel for
ChinaEst. 20053K+3+ FactorySZSE : 300577
Business Nature
Hybrid Manufacturing with OEM + Proprietary Brand Dual-Track Model:
In-house production bases: Hefei, China / Indonesia annual capacity: 12 million units
Outsourcing partnerships: Vietnam contract manufacturers 30% of production
Technical Patents:
Silent 360° wheel system noise < 45 decibels
Compressible EVA mid-frame 40% weight reduction
Core Business Areas
Contract Manufacturing ODM/OEM
Backpacks & Bags
Laptop backpacks Xiaomi ecosystem products
Luggage
Carry-on luggage OEM for Samsonite/Decathlon
Functional Bags
Fitness/Sports bags Decathlon collaborative products
Own Brand 90 Points
Backpacks & Bags
Foldable backpacks 90 Points Ultra-Light Series
Luggage Core Business
Carry-on: 90 Points Metal Luggage German Red Dot Award
Checked: 90 Points PC Trolley Case Silent 360° spinner wheels
Luggage Accessories
Storage & Organizer bags Multi-functional Organizer Set
Note: Wallets & card holders, small leather goods, and other non-core categories not yet developed.
Anhui Korrun Co., Ltd. (stock code: 300577) is a vertically integrated travel consumer goods company headquartered in Chuzhou, Anhui Province, China. Listed on the Shenzhen Stock Exchange ChiNext Board, Korrun operates a distinctive "B2B + B2C" dual-driven business model combining contract manufacturing with proprietary brand operations. With over 3,000 employees across multiple production bases, the company has successfully transitioned from an OEM manufacturer to a branded consumer goods enterprise as a member of the Xiaomi ecosystem.
Core Business
Korrun operates two distinct yet complementary business segments. The B2B contract manufacturing division provides product development, design, and manufacturing services to global brands including Nike, Decathlon, Dell, HP, and MINISO, specializing in luggage and bag products. This segment generated RMB 1.263 billion in fiscal year 2024, accounting for 60.7% of total revenue. The B2C proprietary brand business centers on the 90 Points brand, distributed primarily through Xiaomi channels, Tmall, JD.com, and select offline retailers. Core product categories include luggage, laptop and travel backpacks, and functional bags, with flagship items featuring premium materials such as German Bayer polycarbonate. Management is actively pursuing product premiumization and expanding into apparel and accessories categories to diversify the brand portfolio.
Global Presence
Korrun maintains production facilities across three countries, with manufacturing operations in China, Indonesia, and India enabling flexible, cost-effective supply chain management. The company employs over 3,000 personnel globally across its production bases and distribution network. This strategic geographic footprint allows Korrun to mitigate trade risks while optimizing production costs and serving international clients across multiple markets. The B2B segment serves clients in North America, Europe, and Asia, while the B2C 90 Points brand has established strong recognition among urban millennials and tech-savvy consumers in China seeking premium-quality travel products at competitive price points.
Key Strengths
Korrun's competitive positioning rests on vertically integrated manufacturing with three global production bases enabling efficient supply chain management and rapid response capabilities. The successful brand incubation of 90 Points through Xiaomi ecosystem integration demonstrates the company's proven ability to transition from manufacturing to branded consumer goods. Advanced smart manufacturing capabilities with high automation and informatization levels support consistent product quality and operational efficiency. Additionally, the company's global pro
