Anhui Korrun Co., Ltd.

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