Today (October 26), S’Young Co., Ltd. (S’Young), the parent company of UNIFON and Big Drop, released its financial report for the third quarter of 2023.
In the first three quarters, S’Young achieved operating revenue of 3.377 billion yuan ($461.5 million), a year-on-year increase of 1.04%. The net profit attributable to shareholders of the listed company was 180 million yuan ($24.6 million), a year-on-year increase of 51.36%. The net profit attributable to shareholders of the listed company, excluding non-recurring gains and losses, was 195 million yuan, a year-on-year increase of 77.91%.
In the third quarter, S’Young achieved operating revenue of 1.088 billion yuan ($148.7 million), a year-on-year decline of 4.68%. The net profit attributable to shareholders of the listed company was 37.6143 million yuan ($5.14 million), a year-on-year increase of 4.03%. The net profit attributable to shareholders of the listed company, excluding non-recurring gains and losses, was 47.7021 million yuan, a year-on-year increase of 30.21%.
At the end of September, S’Young stated on the interactive platform that the company has well-established expense control rules and resource management methods internally. It will continue to implement dynamic and refined control and adhere to the dual-business-driven strategy. The agency sector is gradually entering a healthy financial structure, and the comprehensive upgrade of independent brands is expected to unleash brand potential. In the future, the company will proceed with business development in an orderly manner according to its own operating pace. With the continuous improvement of brand strength and management efficiency, the company’s net profit margin is expected to further optimize.
