On April 22nd, 2023, Perfect Group Corp., Ltd (Perfect) released its annual report for 2023 and the first quarter report for 2024. The data shows that in 2023, Perfect achieved operating income of approximately 1.067 billion yuan, a year-on-year increase of 1.58%; the net profit attributable to shareholders of the listed company was approximately 92.51 million yuan, a decrease of 4.93% year-on-year.
In the first quarter of 2024, Perfect’s revenue was approximately 286 million yuan, an increase of 28.29% year-on-year; the net profit attributable to shareholders of the listed company was approximately 18.94 million yuan, an increase of 164.53% year-on-year.
Specifically, in 2023, Perfect’s revenue in the personal care industry increased by 1.53% compared to the previous year, mainly due to the growth of oral care. Revenue from oral care products increased by 7.90% compared to the previous year, reaching 722 million yuan. Revenue from wet wipes products was 336 million yuan, a decrease of 9.88% year-on-year, mainly due to the decline in disinfectant wipes.
Looking forward to 2024, Perfect stated that it aims to achieve a growth of over 20% in operating income while maintaining a main business profit margin of around 7%. To achieve this, Perfect will focus on expanding its market, optimizing operations, and strengthening its organization. The company plans to address its weaknesses in products and brands to provide better products and services to consumers.
It’s worth noting that in February 2023, Perfect proposed to acquire a 16.4967% stake in WEIMEIZI (GUANGDONG) CO., LTD, and by the end of October 2023, the transaction had been completed, with Perfect holding a 32.2712% stake in Weimeizi by the end of the year.
Additionally, in April of this year, Perfect announced the completion of the acquisition of a portion of the equity of Thankcome Biotechnology (Suzhou) Co., Ltd. Perfect stated that it will empower Thankcome Bio strategically, organizationally, and financially to support its steady business growth, contributing to the achievement of the company’s second growth curve goal.
