Investment/ASX: RLG/Cross-border e-commerce

Why we back RooLife for the long term.

RooLife Group sells its own RLG-branded coffee and food into China through online marketplaces, distributors and cafés, and is building a renewable energy business in Australia. DMS Group holds a long-term position because sales are scaling fast from a small base, backed by a binding multi-year supply agreement.

Our investment thesis How RooLife works
$13.6mFY26 cash receipts
+180% on FY25
$9.93mFY26 revenue
$9.5mRLG Coffee sales
Aug 25 – Jun 26
¥300mMinimum supply order
≈ A$64m, to Sep 2027
3×Q3 receipts vs Q2
$6.37m vs $2.21m
01 · Main service

Bringing brands into China.

RooLife takes products, mostly its own RLG Coffee range, across the border into China through its Zhuhai trading company. From there they reach consumers online, through distributors and in cafés. A second business supplies solar and battery storage in Australia.

How RooLife works RooLife sources RLG-branded coffee and food plus international brands, ships them into China through its Zhuhai trading company, and sells through Tmall, JD.com, Douyin, distributors and cafes. In Australia, Aurora Advanced Technologies supplies battery storage and solar systems. AUSTRALIA & INTERNATIONAL CHINA RLG & partner brands Cross-border shipping RLG RLG Global Trading Zhuhai, China Tmall · JD.com Douyin live sales Wholesale distributors Cafés & foodservice SECOND ENGINE · AUSTRALIA Solar & battery storage Aurora Advanced TechnologiesBatteries, microgrids, hybrid power Murdoch UniversityBattery management software R&D
  1. 1

    Source & brand

    RLG-branded coffee beans, drinks, dairy and packaged food, plus coffee machines and selected partner brands.

  2. 2

    Cross the border

    RLG Global Trading (Zhuhai), a wholly owned subsidiary, imports and supplies the Chinese market.

  3. 3

    Sell everywhere

    Tmall, JD.com and Douyin online, wholesale distributors such as Zhongshan Runlian, and offline cafés and foodservice.

02 · Investment thesis

Why we believe it is a good long-term investment.

RooLife is an early-stage company. We back it for the size of the opportunity, the speed of its sales ramp and the contracted demand behind it, accepting the risk that comes with a small cap.

  1. 01 / 06

    Sales are scaling fast

    Cash receipts from customers reached A$13.6m in FY26, up 180% on FY25. Revenue was A$9.93m.

  2. 02 / 06

    An own brand that sells

    RLG Coffee launched in August 2025, passed A$1m of sales in a single month by November and reached about A$2m in December.

  3. 03 / 06

    Contracted demand

    A binding two-year agreement with Zhongshan Runlian carries a minimum order commitment of RMB 300m (about A$64m), running to September 2027.

  4. 04 / 06

    Every channel in China

    Sales run through Tmall, JD.com and Douyin, wholesale distribution and offline cafés, so growth does not depend on one platform.

  5. 05 / 06

    A second growth engine

    Aurora Advanced Technologies holds exclusive 10-year OEM agreements for battery and solar systems. The Kabunga acquisition is mostly paid in performance rights that vest only on A$12.5m of contracted revenue.

  6. 06 / 06

    Leaner and more focused

    The digital marketing arm was sold in July 2025 to focus on products. Staff costs fell 15% in Q4 FY26 while sales grew.

03 · The numbers

A year of ramp-up.

Figures from RooLife's FY26 annual report and quarterly cash flow reports lodged with the ASX. All amounts in Australian dollars unless stated.

Growth

Cash receipts by quarter, FY26

From under half a million dollars to A$6.4m in a single quarter as RLG Coffee scaled.

RooLife cash receipts by quarter, FY26: Q1 $0.49m, Q2 $2.21m, Q3 $6.37m, Q4 $4.57m$2m$4m$6mQ1 FY26|Jul–Sep 25: $0.49m$0.49mQ1 FY26Jul–Sep 25Q2 FY26|Oct–Dec 25: $2.21m$2.21mQ2 FY26Oct–Dec 25Q3 FY26|Jan–Mar 26: $6.37m$6.37mQ3 FY26Jan–Mar 26Q4 FY26|Apr–Jun 26: $4.57m$4.57mQ4 FY26Apr–Jun 26
Sources: RooLife Q3 FY26 and Q4 FY26 quarterly activities and cash flow reports (Appendix 4C).
Year on year

Annual cash receipts

Cash collected from customers almost tripled.

Cash receipts from customers: FY25 $4.87m, FY26 $13.64m$5m$10m$15mFY25: $4.87m$4.87mFY25FY26: $13.64m$13.64mFY26
Source: RooLife FY26 annual report (statement of cash flows).
Product

RLG Coffee monthly sales

Five months from launch to a A$2m month.

RLG Coffee monthly sales: launched August 2025, above $1m in November 2025, about $2m in December 2025$0m$1m$2mLaunchAug 25> $1m monthNov 25~$2m monthDec 25
About A$9.5m of RLG Coffee sales from launch to 30 June 2026. Source: RooLife FY26 annual report.
Contract

The RMB 300m supply agreement

Binding minimum order commitment from Zhongshan Runlian, 20 Sep 2025 to 20 Sep 2027.

≈A$64mMinimum order value
2 yrsTerm, to Sep 2027
Total RLG Coffee sales to 30 Jun 2026≈A$9.5m · 15%

Group coffee sales are shown for scale against the contract minimum. Not every sale is made under this agreement, and the bar is not a measure of contract delivery.

Sources: RooLife ASX announcement (22 Sep 2025); FY26 annual report.
Funding

Cash & funding

Cash on hand, new capital, and the cash the business used in FY26.

Cash and funding: cash at 30 June 2026 $1.11m, August 2026 placement $1.06m, FY26 net operating cash outflow $1.98m$1m$2mCash|30 Jun 26: $1.11m$1.11mCash30 Jun 26Placement|Aug 26: $1.06m$1.06mPlacementAug 26Operating|outflow FY26: $1.98m$1.98mOperatingoutflow FY26
Sources: RooLife FY26 annual report; Q4 FY26 cash flow report; placement announcement (29 Jul 2026).
04 · What we watch

The risks we accept.

RooLife is a small, loss-making company. We size our position for that and track these points every quarter.

  • i.
    Not yet profitable

    The FY26 net loss was A$3.58m, including A$1.63m of non-cash impairment. Product and logistics costs took most of the revenue.

  • ii.
    Funding and dilution

    Cash was A$1.11m at 30 June 2026, and the company raises capital through share placements. There are about 1.89bn shares on issue.

  • iii.
    Contract delivery

    Sales to date are well below the pace the RMB 300m minimum implies. We watch whether order volumes build through FY27.

  • iv.
    China exposure

    Most sales are made in China, which brings currency, regulatory and consumer-demand risk.

05 · Our position

An early-stage bet we size for the risk and hold for the upside.

  • Investment above A$100,000, classified Long Term
  • Higher-risk small cap, held as part of a wider portfolio
  • Reviewed every quarter, with each cash flow report
  • Key signals: quarterly cash receipts, path to profit, orders under the supply agreement, energy contracts