Yesterday (October 29th), BTN released its third-quarter financial report. The report shows that the company’s operating revenue was 3.431 billion yuan ($468.9 million), an increase of 18.51% year-on-year. The net profit attributable to the parent company was 579 million yuan ($79.14 million), an increase of 11.96% year-on-year, and the non-deductible net profit was 508 million yuan ($69.43 million), an increase of 12.53% year-on-year.
According to the information provided on the official website of BTN, it is a major health industry group focused on skin health in the Internet Plus era. Its brand, Winona, has become a leading brand of functional skincare products in China.
BTN stated that the revenue growth was mainly due to the further improvement in the company’s product and brand awareness, leading to rapid growth in sales scale and revenue.
Looking at the quarterly data, in the third quarter of 2023, BTN’s quarterly operating revenue was 1.064 billion yuan ($145.4 million), an increase of 25.77% year-on-year. The net profit attributable to the parent company was 129 million yuan ($17.63 million), an increase of 5.66% year-on-year, and the non-deductible net profit was 134 million yuan ($18.3 million), an increase of 39.88% year-on-year.
In addition, Betny also announced that it plans to adjust its share repurchase program. The total amount of funds for share repurchase will be adjusted from “100 million yuan to 200 million yuan” to “200 million yuan to 300 million yuan”, while the repurchase share price remains unchanged, not exceeding 130 yuan ($17.77) per share (inclusive).
Recently, BTN first announced its plan to invest over 500 million yuan ($68.3 million) to acquire a controlling stake in Yuejiang (Guangzhou) Investment Co., Ltd. Subsequently, they announced again that they plan to contribute 30 million yuan ($4.1 million) to establish an investment fund with a partner, focusing on investment in the fields of new materials and intelligent manufacturing. It is evident that BTN is accelerating the search for diversified growth points.