Raytech Holding

Making Nasdaq Debut as It Pioneers Personal Care Electrical Appliances in a Booming Market

Hong Kong, May 20, 2024 (GLOBE NEWSWIRE) -- In the dynamic world of personal grooming, Raytech Holding (Nasdaq: RAY) emerges as a shining star, dedicated to enhancing consumer lifestyles through its innovative range of personal care electrical appliances. Since its inception in 2013, this Hong Kong-based company has garnered over 10 years of industry experience, positioning itself as a leading player in the market.

Exciting news hit the market as Raytech listed on the Nasdaq on May 15, under the symbol “RAY”, a testament to its remarkable achievements and future potential. To support its growth ambitions, the company has raised $6 million through an initial public offering of 1.5 million shares.

The company excels in sourcing and wholesaling Japan Pure Beauty-branded personal care and lifestyle electrical appliances for international brand owners. Its extensive product portfolio covers a diverse range of categories, including hair styling appliances, trimmers, eyelash curlers, and more. However, the company’s true expertise lies in sourcing and wholesaling hair dryers, where it offers a remarkable selection of salon-quality devices with advanced protective and styling features, as well as compact designs perfect for travel.

Strong and Long-Term Relation with Key Client

Raytech has forged a formidable and enduring alliance with Koizumi Seiki Corp., a leading corporation specialized in small appliance market that’s been operating for over 300 years since 1716. Koizumi Seiki Corp. is renowned as one of the top 10 sellers in terms of retail volume in Japan's thriving personal care electrical appliance market that commands a prominent position within the industry.

This partnership has proven to be a financial powerhouse, with Koizumi Seiki Corp. making substantial contributions to Raytech's revenue. In both the fiscal years ending on March 31, 2023, and 2022, Koizumi Seiki Corp.'s involvement accounted for a remarkable 91.3% and 97.8% of Raytech's total revenue, respectively. These figures underscore the pivotal role that Koizumi Seiki Corp. plays as a major client.

Raytech's unwavering dedication to cultivating enduring business relationships is exemplified by its longstanding association with Koizumi Seiki Corp. Leveraging its extensive experience and expertise in the personal care electrical appliances industry, Raytech consistently delivers exceptional products and services, earning the unwavering trust and confidence of Koizumi Seiki Corp.