On April 17th, 2023, China’s maternal and child product manufacturer JINFA LABI MATERNITY & BABY ARTICLES CO., LTD. (referred to as “JFLB”) released its annual report for 2023.
In 2023, JFLB achieved an operating income of 204 million yuan, a year-on-year decrease of 16.79%; the net profit attributable to shareholders of the listed company was a loss of 23 million yuan, significantly narrowing compared to the previous year.
According to the financial report, in 2023, sales of “other maternal and child products” by JFLB (referring to other infant and child daily necessities other than clothing and cotton products, such as maternal and child care products, nursing products, bathroom products, bedding products, strollers, and maternity products, etc.) amounted to 39.2029 million yuan, a decrease of 18.61% year-on-year, accounting for 19.20% of total revenue.
The financial report shows that while JFLB is deepening its core business of maternal and child consumer products under three major independent brands, it is gradually implementing its business layout in the service end under the guidance of the “maternal and child products + medical beauty services” strategic direction. It continues to strengthen its cooperation with Hanfei Medical Beauty and, in September 2023, acquired 13% of its equity with cash. As of the end of the reporting period, JFLB holds a total of 49% of Hanfei Medical Beauty’s equity.
Additionally, in 2023, Hanfei Medical Beauty achieved revenue of 284 million yuan and a net profit of -21.2519 million yuan, accounting for over 10% of JFLB’s total net profit.
JFLB stated that it will continue to focus on the development of its core business around the “maternal and child products + medical beauty services” field, deepening its business layout. On the one hand, it will continue to focus on its core business, and promote the transformation of management models; on the other hand, it will continue to deepen its layout in the service end, improve planning and construction in the medical beauty service field, enhance the competitiveness of the “product + service” model, and strengthen the company’s overall strength.
