5 Companies Exceed 4 billion! Chinese Beauty Listed Companies Welcome New Pattern

S’YOUNG has become the third Chinese beauty company with a revenue of more than 5 billion yuan (over $750 million) after Shanghai Jahwa and Yasten E-commerce. PROYA and BTN also exceeded 4 billion yuan (over $600 million), reaching new highs. Eight of China’s listed beauty companies reached a total of $5.1 billion in 2021 in sales revenue, which has ushered in a new pattern!

As of April 30, Beijing time, the sales data of China’s major listed beauty companies in 2021 have been released one after another. According to statistics, after divesting the non-cosmetics business, the top 8 listed companies of beauty brands in China by sales revenue in 2021 are Shanghai Jahwa, Yasten E-commerce, S’YOUNG, PROYA, BTN, Bloomage Biotech, and MARUBI. LUSHANG, the total sales revenue of these 8 companies is $5.063 billion.

By observing the 2021 annual reports of these eight Chinese beauty listed companies, it is found that the sales revenue of Shanghai Jahwa, Yasten E-commerce, and S’YOUNG has exceeded 5 billion yuan (over $750 million). PROYA and BTN exceeded 4 billion yuan (over $600 million) in sales revenue in 2021.

It is worth noting that PROYA has entered the fast lane of development since it went public in November 2017. In 2021, PROYA’s exceeded 4 billion yuan (over $600 million) in sales revenue. Combing the financial report data of PROYA in the past five years, it is found that it has always maintained a growth rate of more than 20% in sales revenue and net profit from 2018 to 2021, which contributed to the fact that PROYA’s soared from less than 2 billion yuan (about $300 million) in sales revenue to over $690 million in just 5 years, which is 2.6 times that of 2017.

At the same time, BTN has also ushered in rapid development under the background of China’s effective skincare products. Its operating income in 2021 was $603 million, a year-on-year increase of 52.57%, with the net profit attributable to the parent company being $129 million, a year-on-year increase of 58.77%. BTN’s performance mainly comes from the core brand WINONA. WINONA’s single brand achieved an operating income of $591 million, accounting for more than 98% of the company’s revenue. According to the statistics from Euromonitor, WINONA ranks first in the field of dermatological skincare products in China in 2021, with a market share close to the sum of the second and third.

Although PROYA and BTN have developed rapidly and exceeded 4 billion yuan (over $600 million) in sales revenue, their growth rates are not the highest in the Chinese cosmetics industry. According to the financial report, LUSHANG exceeded $224 million in 2021 in the sales revenue of the cosmetics segment, with a growth rate of 117.01%. Bloomage Biotech reached $498 million in sales revenue in the segment of functional skincare products, an increase of 146.57%. On the whole, except for Shanghai Jahwa and MARUBI, the revenue of the other six companies showed double-digit growth.

Behind the high-performance growth, there are hidden worries. Among the top 8 Chinese cosmetic companies, the most dangerous one is Yasten E-commerce.

In April this year, Yasten E-commerce announced that the company received a delisting warning because its share price continued to fall below the trading price compliance standard of $1 on the American stock market. If Yasten E-commerce fails to make the company’s share price rise above $1 within 6 months, it will enter the period of suspension and delisting procedures on the New York Stock Exchange.

In other words, Yasten E-commerce is now facing the risk of delisting.



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