On March 25th, 2023, China’s recombinant collagen company, Giant Biogene, released its 2023 performance report. The report showed that in 2023, Giant Biogene achieved a revenue of 3.524 billion yuan, a year-on-year increase of 49.0%; gross profit was 2.947 billion yuan, a year-on-year increase of 47.7%; earnings attributable to the owners of the parent company was 1.452 billion yuan, a year-on-year increase of 44.9%; and net profit was 1.448 billion yuan, a year-on-year increase of 44.6%.
In 2023, Giant Biogene’s revenue from functional skincare products reached 2.647 billion yuan, a year-on-year increase of 66%; revenue from medical dressings reached 0.861 billion yuan, an increase of 32.2% compared to 2022. Giant Biogene stated that the rapid growth of the functional skincare product business was attributed to the group’s continued strengthening of marketing activities across all channels, the steady growth of classic best-selling categories, and the rapid growth of star products.
Looking at the brands, CONFIME continued its high-speed growth from 2022, with revenue of 2.788 billion yuan in 2023, a year-on-year increase of 79.1%. Giant Biogene stated that Kefumei’s growth was mainly due to the group’s continued expansion of online and offline sales channels and optimization of operational strategies, further increasing the brand’s influence. In addition, Kefumei’s product categories continued to expand, including essences, lotions, masks, etc., further contributing to revenue growth. Another brand under the group, COLLGENE, achieved revenue of 0.617 billion yuan, a year-on-year increase of 17.5%, slightly lower than the growth rate in 2022; sales revenue of other brands during the reporting period was 0.103 billion yuan, up 14.2% compared to 2022.
