Smart de­vice awak­ens HK’s sleep in­dus­try

China Daily (Hong Kong) - - HK -

users are able to con­sult doc­tors on­line.

“Sleep is some thing that c a n h av e a b i g i m p a c t o n p e o p l e’s h e a l t h . A t a t i m e when many white col­lar work­ers are un­der in­creas­ing work pres­sure, high-qual­ity sleep be­comes more im­por­tant,” says Huang , founder and chief ex­ec­u­tive of­fi­cer of Shen­zhen Med­ica Tech­nol­ogy De­vel­op­ment Co Ltd.

“RestOn is cre­ated with a mis­sion of mak­ing peo­ple sleep and live well.”

Launched in July 2014, RestOn is now avail­able in more than 60 coun­tries and re­gions across the world, in­clud­ing t h e Un i t e d S t a t e s , E u r o p e and South­east Asia, with to­tal sales vol­ume reaching 180,000 units.

“The Chi­nese main­land is our big­gest mar­ket,” Huang says. “But we are also see­ing strong sales in in­ter­na­tional mar­kets, with over­seas rev­enue ac­count­ing for 50 per­cent of the com­pany’s to­tal.”

The com­pany made 40 mil­lion yuan ($5.8 mil­lion) in to­tal sales rev­enue in 2015. Huang says the fig­ure for this year is ex­pected to dou­ble as it ex­pands into more mar­kets.

The prod­uct is ex­pected to make its de­but in Hong Kong later this month and will be avail­able at stores like Broad­way, Fortress and Stu­dio A. Huang says the Hong Kong mar­ket presents many op­por­tu­ni­ties for the startup.

Ac­cord­ing to a 2016 sur­vey by mar­ket re­search or­ga­ni­za­tion TNS, Hong Kong ranked last among 15 coun­tries and re­gions across the Asia-Pa­cific in healthy liv­ing. This was a far cry from the main­land, which topped the list, and Ma­cao (sec­ond).

The weak per­for­mance was at­trib­uted to the lack of sleep, in­suf­fi­cient sports and food im­bal­ance among Hong Kong res­i­dents. They recorded an av­er­age of six-and-a-half hours of sleep per day — far less than the rec­om­mended eight hours.

A separate sur­vey by the Hong Kong So­ci­ety for Re­ha­bil­i­ta­tion found nearly one-fifth of the Hong Kong pop­u­la­tion is suf­fer­ing from in­som­nia.

In A u g u s t 2 01 5 , Me d i c a fin­ished its Se­ries B fi­nanc­ing of 44 mil­lion yuan from home tex­tile com­pany Luo­lai and the coun­try’s sec­ond­largest e-com­merce plat­form JD.com.

T he com­pany ’s lat­est B+ round fi­nanc­ing was com­pleted in the first half of this year, but Huang did not say who made the in­vest­ment, and the amount it se­cured.

He stresses that the ini­tial process of gain­ing trust from in­vestors and con­sumers is dif­fi­cult, as the 32-year-old set sail for en­trepreneur­ship right af­ter his grad­u­a­tion from Pek­ing Uni­ver­sity with two other alumni.

The three dived into the smart sleep­ing sec­tor in 2011 when there were few mar­ket play­ers in China, launch­ing a baby sleep­ing mon­i­tor that was met with a cold re­sponse from the mar­ket.

“Sales were slug­gish at the time as most Chi­nese fam­i­lies sleep with their ba­bies and do not need the prod­uct. We did not have any ex­pe­ri­ence and over­es­ti­mated marke t de­mand,” Huang re­calls.

“We also un­der­es­ti­mated the dif­fi­culty of se­cur­ing an ef­fi­cient sup­ply chain.”

The com­pany did not win the backing of any in­vestor for the first three years, re­ly­ing solely on its own cap­i­tal and sup­port from tu­tors and the gov­ern­ment.

“Un­til 2013, we only had s e v e n m e m b e r s . N o w, w e have be­come a 100-mem­ber team.”

But, it’s Huang’s courage and per­se­ver­ance that lay the ground­work for the com­pany’s growth at a time when com­pe­ti­tion in the in­dus­try in­ten­si­fies with the in­tro­duc­tion of more mar­ket play­ers.

“Grow­ing com­pe­ti­tion from ri­vals is a good thing. This means we are walk­ing along the right path, and the mar­ket’s fu­ture is bright. It will also stim­u­late us to fur­ther im­prove our prod­ucts and ser­vices,” he says.

Sleep is some­thing that can have a big im­pact on peo­ple’s health. At a time when many white col­lar work­ers are un­der in­creas­ing work pres­sure, high-qual­ity sleep be­comes more im­por­tant ... RestOn is cre­ated with a mis­sion of mak­ing peo­ple sleep and live well.”

Huang Jin­feng, founder and chief ex­ec­u­tive of­fi­cer of Shen­zhen Med­ica Tech­nol­ogy De­vel­op­ment Co Ltd

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