Yesterday (August 29), Lily & Beauty (605136.SH) released its 2023 half-year financial report, reporting a revenue of 1.439 billion yuan ($197.4 million), a decrease of 7.59% compared to the previous year. The net loss attributable to shareholders of the listed company was 23.9447 million yuan ($3.28 million), shifting from profit to loss compared to the previous year. The net loss attributable to shareholders of the listed company, excluding non-recurring gains and losses, was 23.511 million yuan ($3.23 million).
Lily & Beauty is a Chinese online cosmetics marketing and retail service provider. It has authorized partnerships with internationally renowned cosmetics groups such as Kanebo, Amorepacific, Henkel, and others. The company has obtained genuine authorization for over 60 globally renowned brands in China, including Erno Laszlo, Whoo, FANCL, Sulwhasoo, Avene, and Schwarzkopf.
Lily & Beauty stated that the decline in operating revenue was mainly due to a decrease in the income of some brand partnerships compared to the previous year. Additionally, the company revealed that in the first half of the year, the revenue generated through emerging channels continued to increase, accounting for nearly 15% of the total. By the end of the 2023 semi-annual period, the number of online stores on Douyin (Chinese version of TikTok) reached 46.
During the reporting period, Lily & Beauty focused on cosmetics e-commerce retailing and continuously developed new product categories. In the first half of the year, the company made efforts in brand expansion and established partnerships with brands such as Dr.JE, Obagi, and Henkel Household. At the same time, the company also explored new product categories, such as food and pets, and achieved certain development achievements.
Regarding the operating performance in the first half of the year, the company stated that in 2023, new technologies represented by artificial intelligence continued to emerge, providing a continuous driving force for the development of internet e-commerce. The company actively transformed its operational strategies, leveraging big data combined with artificial intelligence to provide more accurate marketing services and achieve continuous cost reduction and efficiency improvement.
