On April 22nd, Pony Testing International Group Co., LTD. (Pony) released its performance reports for the first quarters of 2023 and 2024. In 2023, Pony’s total operating revenue was 2.468 billion yuan, down 34.41% year-on-year. Net profit attributable to shareholders of the listed company was 108 million yuan, down 66.58% year-on-year; non-GAAP net profit was 84.0173 million yuan, down 69.52% year-on-year.
The financial report pointed out that the decline was due to the dominance of traditional areas in government procurement business, such as most small and medium-sized inspection and testing institutions in areas such as construction engineering and materials, food, rapid inspection of agricultural products, and environmental monitoring and testing facing increasing accounts receivable, continuous price declines, and more intense competition, resulting in serious decline in corporate performance or insufficient value increment, and profit growth not meeting expectations.
In addition, in the first quarter of 2024, Pony’s operating revenue was 334 million yuan, down 36.36% year-on-year.
The financial report shows that during the reporting period, Pony expanded its cosmetics CMA project, which is the skin photoallergy test, with the ability to assess whether cosmetics and their raw materials have photoallergic reactions. Its subsidiary, Shenzhen Pony Company, has become a National Medical Products Administration-accredited laboratory for cosmetics filing testing human safety and efficacy evaluation. So far, Pony has a total of 9 National Medical Products Administration-accredited laboratories for cosmetics filing human safety and efficacy evaluation nationwide. In addition, Suzhou Pony Company has also obtained qualifications related to toothpaste efficacy testing.
According to the company’s official website information, Pony was established in 2002, transformed from a national scientific research institute, and has developed into a large comprehensive inspection and certification group with over 8,000 employees, consisting of over 30 large-scale experimental bases and over 150 professional laboratories nationwide, with qualifications including CMA, CNAS, food reinspection institutions, CATL, CCC, and others, as well as medical institution practice licenses and medical device production licenses. Among them, its cosmetics sector mainly includes cosmetics testing and human efficacy experiments.
