According to Baidu Encyclopedia, Caiyang brand was born in early 2003. It is a wholly-owned sub-brand of Hengyuanxiang Group Co., Ltd., and its product categories cover clothing, knitting, home textiles, car home and other fields.

The brand name of Caiyang comes from the mascot "Caiyang" in the Year of the Sheep in Hengyuanxiang, China, and its trademark prototype is "Clay Painted Sheep" created by Hu Xinmin, a folk artist in Fengxiang County, Baoji, Shaanxi Province. This colorful sheep was confirmed by the State Post Bureau as the main pattern of the 2003 Year of the Sheep Zodiac stamp, making Caiyang the first brand to set foot on the national business card-stamp.