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Joyoung Co., Ltd.
Joyoung makes and sells small kitchen appliances, most famously soy milk makers and blenders, for households in China and abroad.
Joyoung is a Chinese kitchen appliance company. If you walked into a typical Chinese home, you'd probably find one of its appliances on the counter: a soy milk maker, a blender, an air fryer, or a rice cooker. The company built its name on a machine that turns dried soybeans and water into fresh soy milk at home, a daily staple in many Chinese kitchens.
The business is simple: Joyoung designs appliances, gets them manufactured, and sells them under its own brand, mainly to Chinese households. It sells through online marketplaces and physical stores, and it also makes some products for other brands. Customers pick Joyoung because the brand is familiar and the prices are reasonable, but that also means it faces stiff competition from cheaper rivals and from bigger appliance makers who sell a full range of home goods. Joyoung is based in Hangzhou, the eastern Chinese city that is also home to Alibaba, and it listed on the Shenzhen Stock Exchange in 2008. The soy milk maker was its breakthrough product, and the company has spent years trying to turn that one-hit reputation into a broader kitchen brand with mixers, food processors, and cooking gadgets. It has also pushed into overseas markets to find new buyers as China's home appliance market matures.
The honest picture is a company with a strong brand at home but a tougher road ahead. Small kitchen appliances are easy to copy, margins are thin, and growth in China's appliance market has slowed. Joyoung's challenge is getting people to buy more than one product and to pay up for newer gadgets rather than just replacing the old soy milk maker.
Saved answer · last researched 9 Nov 2026
Timeline
A Teacher's Soy Milk Machine
Wang Xuning loved soy milk, but buying it outside every day was a hassle. So the teacher built a machine that made it automatically at home, and with his startup team he turned it into a company. Nobody had sold a home appliance like this before. He had created a whole new category from scratch.
Shandong Joyoung Incorporated
The young business set up a proper operating company in Shandong with about ten million yuan in registered capital. From then on, this was the entity that did the real work: developing, building and selling the small appliances.
Becoming a Joint-Stock Company
A few years later the company changed its legal shape, converting into a joint-stock company and taking the name Joyoung Co., Ltd. That was the form it would need to grow bigger and eventually sell shares to the public.
Joyoung Lists on the Shenzhen Exchange
Joyoung went public on the Shenzhen Stock Exchange, selling 67 million shares and raising about 1.5 billion yuan. It was the third-largest listing on the SME board and the biggest in Shandong at the time. The soy milk maker was now a public company with serious money to spend.
Beyond Soy Milk
Joyoung launched a new line of high-speed blenders and pushed into large kitchen appliances. It was a deliberate turn toward smart kitchens and better small appliances, so the company would not be just the soy milk maker forever.
Buying Into Shark's China Business
Joyoung bought a majority stake in the company that ran the Shark brand in China, adding cleaning and personal care appliances to its lineup. Now it had two engines: kitchen appliances and lifestyle appliances.
Crossing Ten Billion in Sales
Annual sales passed ten billion yuan, and online sales alone topped one billion during the Double 11 shopping festival. The little soy milk machine had grown into a big consumer brand.
A Kitchen for Space
Joyoung had been named a developer of manned space kitchen systems back in 2014, and now it delivered its space kitchen to China's space station. Technology from that extreme job later trickled down into everyday products like quiet blenders and rice cookers with no coating.
The Stock Runs Ahead of the Business
The shares more than doubled in a matter of months, driven by talk of a Huawei partnership, robotics and overseas assets, all of which the company denied. Meanwhile revenue kept falling and quarterly profit shrank to nearly nothing. The stock price and the actual business had drifted far apart.