Lily&Beauty disclosed its 2021 annual report its operating revenue reached $658 million and its net profit attributable to parent company achieved $65 million, up 20.99% year-on-year.
On the evening of March 2, 2022, Lily&Beauty disclosed its 2021 annual report its operating revenue reached $658 million and its net profit attributable to parent company achieved $65 million, up 20.99% year-on-year. Its net profit attributable to parent company deducted $57 million, up 17.32% year-on-year. The net profit of the parent company has been growing in double digits for 8 consecutive years and the gross profit margin has increased to 36.46%, with significant cost reduction.
In addition, as of December 31, 2021, the total assets of Lily&Beauty were $544 million, up 10.22% compared to the previous year-end, and its net assets attributable to the parent company were $426 million, up 15.05% compared to the previous year-end.
Analyzing previous years’ financial data, Lily & Beauty has always maintained double-digit growth in net profit attributable to the parent company from 2014 to 2020, showing a long-term solid growth trend, overlaid with Lily & Beauty’s annual net profit attributable to the parent company in 2021 of $65 million, up 20.99% year-on-year, and net profit attributable to the parent company after deduction of $57 million, up 17.32% year-on-year, so that Lily & Beauty has achieved 8 consecutive years of double-digit growth and outstanding operating efficiency.
At the same time, Lily & Beauty’s gross margin also achieved an increase to 36.46%. According to the annual report, the gross margin of Lily & Beauty’s e-commerce retail business will increase by 6.04 percentage points in 2021 compared to 2020, with a significant increase in both gross margin and net profit and significant cost reduction and efficiency gains.
Lily & Beauty is a cosmetic e-tailing service provider in China, mainly relying on Chinese e-commerce platforms such as Tmall and TikTok for its cosmetic e-commerce retail business and brand marketing services. As of December 31, 2021, the Company continued to cooperate with more than 60 brands, including Sulwhasoo, Whoo, Schwarzkopf, and freeplus. Among them, the Company entered into a strategic partnership with Coty Group in 2021 to provide refined operational services for luxury beauty brands such as Burberry, MacJacobs and Philosophy. In addition, the company has also reached an intention to cooperate with Kao Cosmetics Division on SOFINA’s Tmall flagship store, TikTok and Xiaohongshu channels.
According to the Python data, in the first half of 2021, the GMV of the Tmall flagship stores of brands such as Sulwhasoo, Avène, freeplus, and Whoo all achieved double-digit growth year-on-year, with the growth rate of freeplus close to 50% and that of Whoo close to 68%, which all achieved sales volume of more than 100 million yuan (about $16 million). Transaction amount of more than 15 operating brands such as Rene Furterer, PERIPERA increased significantly, turnover of multi-category in multi-store to maintain the No.1 in Tmall.