Chinese Cosmetics Group S’Young Achives 2.2Bn Revenue in H1 with Non-deductible Net Profit Up 101%

In the first half of this year, the company’s foreign investment of 381 million yuan ($53.3 million), compared with 124 million yuan ($17.3 million) in the same period last year, a change of 205.61%.

On the evening of July 27, the S’Young released 2023 half-year report.

According to the financial report, the company realized operating income of 2.29 billion yuan ($320.1 million) in the half-year of 2023, an increase of 4% year-on-year. The net profit attributive to the parent company is 142 million yuan ($19.6 million), an increase of 72.02% year-on-year. The deduction of non-net profit is 147 million yuan ($20.6 million), an increase of 101.82% year-on-year.

(Credit: from financial report of S’Young)

For the substantial increase in net profit, S’Young said that it is mainly due to the company’s multi-level brand matrix further improve, product structure continued to optimize, cost control effect is remarkable. At the same time, the company’s product structure improvement to enhance the level of gross profit, profitability enhancement, the operating situation is positive to the good.

During the reporting period, Water Sheep was mainly engaged in the research and development, production and sales of cosmetics, and its brands mainly included “UNIFON”, “EVIDENS DE BEAUTÉ”, “BIGDROP”, “MIHOO”, etc. Its product categories covered masks, lotion, creams, color cosmetics, personal care and cleaning and others.

In terms of products, the main business of S’Young is the mask and lotion, toner, cream. Among them, the mask revenue in the first half of this year recorded 454 million yuan ($63.5 million), basically the same as the same period last year, but the cost of year-on-year decline of 15.34%. The revenue of lotion, toner and cream was 1.715 billion yuan ($239.7 million), up 4.53% year-on-year.

From the channel point of view, the company to online e-commerce channel sales. Among them, the revenue of the third-party platform accounted for 79.84% of the operating revenue in the first half of this year, recording 1.829 billion yuan, down 4.56% year-on-year. The revenue of the self-operated platform accounted for 8.13% of the total revenue, recording 186 million yuan ($26 million), a slight increase of 1.47% year-on-year.

(Credit: from the financial report of S’Young)

It is worth noting that during the reporting period, the investment amount of water goat shares increased significantly. In the first half of this year, the company’s foreign investment of 381 million yuan, compared with 124 million in the same period last year, a change of 205.61%. The investment amount is mainly used for the water goat intelligent intelligent manufacturing base and water goat shares headquarters base project.

Opportunity and risk coexist. In the financial report, water goat shares from five aspects of the company’s current risk analysis, and said that it will start from the supply chain, research and development, customers, investment and market to further improve the company’s core competitiveness.




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