Yesterday, Yunnan Botanee Bio-Technology Group Co., Ltd.(BTN), a leading cosmetics company in China, released its third-quarter report. According to the financial report, in the first three quarters of 2024, BTN’s operating revenue and net profit attributable to shareholders of the listed were 4.018 billion yuan ($564 million) and 415 million yuan ($58.25 million), respectively. operating revenue increased by 17.09% year-on-year, while net profit attributable to shareholders of the listed declined by 28.39% year-on-year.
Regarding the 28.39% decline in net profit attributable to shareholders of the listed for the first three quarters, the company explained that this was mainly due to a slight decrease in gross profit margin caused by changes in the product (brand) sales structure, as well as a temporary or project-based increase in various operating expenses.
In the third quarter, despite achieving operating revenue of 1.213 billion yuan ($170.3 million), an increase of 14.04% year-on-year, BTN still faced a “operating revenue increase without profit increase.” During the same period, net loss attributable to the parent company was 71 million yuan ($9.97 million), a year-on-year decline of 157.08%.
Currently, BTN has independently incubated four major brands: Winona, Winona Baby, Beforteen, and Aoxmed, and has successfully added two brands, Za and Pure&Mild, originally owned by Shiseido, under its brand portfolio, completing its skincare and makeup offerings for the mass market.
Although BTN has not disclosed specific performance details for the Winona brand, the financial report shows that Winona and other major brands achieved total operating revenue of 3.637 billion yuan ($510.5 million) in the first three quarters, an increase of about 5.98% compared to the same period last year, with a gross profit margin of approximately 75.34%. Additionally, Za and Pure&Mild generated a combined operating revenue of 381 million yuan ($53.48 million) in the first three quarters, a more than threefold increase compared to last year’s operating revenue of 104 million yuan ($14.6 million).
It is reported that BTN’s core brand, Winona, has completed its online and offline channel layout in Thailand and is expected to enter more than 30 medical beauty chain stores in Thailand in the next phase. The company is also planning to enter the North American market.
