On April 24th, Chinese infant and child care company Runben Biotechnology Co.Ltd (Runben Biotechnology) released its 2023 annual report and the first-quarter financial report for 2024. This marks the company’s first annual report since its listing in October last year. In 2023, Runben Biotechnology’s revenue increased by 20.66% year-on-year to 1.033 billion yuan, with a net profit of 226 million yuan, a year-on-year increase of 41.23%. In the first quarter of 2024, the revenue was 167 million yuan, an increase of 10.02% year-on-year, with a net profit attributable to shareholders of the listed company of 35.47 million yuan, a year-on-year increase of 67.93%.
Runben Biotechnology mainly engages in the research, production, and sales of personal care and mosquito repellent products. It has formed three core product series: baby and child care products, mosquito repellent products, and essential oil products. The mosquito repellent series includes electric mosquito repellent liquids and mosquito repellent liquids; the baby and child care series includes creams, lip balms, and lotions; the essential oil series includes essential oil patches, essential oil rings, and lemongrass aromatherapy boxes.
In terms of product segmentation, the revenue from baby and childcare products in 2023 was 521 million yuan, a year-on-year increase of 33.62%. The revenue from mosquito repellent series products in 2023 was 324 million yuan, a year-on-year increase of 19.2%. The revenue from essential oil series products in 2023 was 146 million yuan, which remained relatively stable compared to the previous year. From a product perspective, the revenue from baby and childcare products has exceeded 50% of the company’s total revenue.
In 2023, the company adhered to the “big brands, small categories” integrated strategy of research, production, and sales, actively exploring online and offline channels, further enriching the product matrix, and reaching more consumer groups through multi-channel and multi-scenario approaches. The company maintained a certain market share on e-commerce platforms such as Tmall, JD.com, and Douyin. In addition, the company has developed cooperation with offline channels through non-platform distributors, including RT-Mart, Walmart/Sam’s Club, 7-11, Miniso, Watsons, CR Vanguard Supermarket, as well as special channels such as WOW COLOUR.
Runben Biotechnology stated that it always places research and development innovation capabilities at the core strategic position of the company, implements the integrated development concept of research, production, and sales, continuously strengthens the integration of research and development resources in the industrial chain, and continuously improves the company’s research and development technology level. During the reporting period, the company continuously improved the research and development layout from raw materials to finished products, including basic research, formula development, physical and chemical analysis, and product efficacy evaluation.
