Sex toys in China have become increasingly accepted and popular, with around 70 percent of the world’s sex toys produced domestically. (Photo: Flickr)
The National Equities Exchange and Quotations, an exchange also known as the New Third Board (NTB), is expected to list Zhejiang Lover Health Science and Technology Co. Ltd., a maker of sex toys, making it the first title linked to the sex industry. in Chinese history.
According to the NTB, the company on Friday filed an application to issue 79 million shares that can be bought at 1 yuan ($ 0.15) per share.
The company has released information which shows that sex toys account for the majority of the company’s revenue at 87.82% in the first five months of 2015. It also enjoyed high profit margins, with a rate gross profit of 51.27% in 2014, from 43.94. percent in 2013.
The company’s gross profit rate in the first five months of this year is around 46.41%.
The company is still 29.72 million yuan in debt, after suffering losses amounting to 73.21 million yuan in 2013. In the first five months of this year, it lost 11.36 million yuan additional.
The China Reproductive Health Industry Association said the market value of China’s reproductive health industry was around 48.7 billion yuan in 2007. Consumer spending in the industry has increased. from 15 to 30% per year.
“Competition is quite intense in the domestic reproductive health industry. Most of the products are sold online. Product delivery is highly dependent on logistics companies. Consumers who buy online are also more price sensitive. As the industry is quite special and in its early stages in China, Lover Health faces issues such as specific laws and regulations in advertising, industry supervision, market expansion and education. customers, ”the company said in a statement when filing.
Sex toys have become more accepted in China in recent years. A 2010 report from Asiaone News said that 70 percent of the world’s sex toys are made in China.
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