On April 25th, Harbin Fuerjia Technology Co., Ltd. (hereinafter referred to as “Fuerjia”) released its annual report for 2023 as well as its first quarter report for 2024. According to the financial reports, in 2023, Fuerjia’s operating income reached 1.934 billion yuan, a year-on-year increase of 9.29%; the net profit attributable to shareholders of the listed company was 749 million yuan, a year-on-year decrease of 11.56%.
In the first quarter of 2024, Fuerjia Technology’s operating income reached 409 million yuan, a year-on-year increase of 9.65%. The net profit attributable to shareholders of the listed company was 152 million yuan, a year-on-year decrease of 4.77%.
In its financial report, Fuerjia Technology stated that the growth in operating income in 2023 was mainly due to the continuous growth of online direct sales revenue. Regarding the year-on-year decline in net profit, Fuerjia Technology attributed it to the increase in related sales expenses driven by the increased proportion of online sales, the depreciation and amortization of the company’s North Beauty Valley base, and the continuous increase in research and development investment.
By product category, in 2023, Fuerjia Technology’s revenue from daily chemical products was 1.083 billion yuan, accounting for 56.02% of total operating income, a year-on-year increase of 19.92%. Medical device products accounted for 43.98% of operating income, with revenue of 850 million yuan. It can be seen that cosmetic products remain the main growth point and support for Fuerjia Technology’s performance growth.
In terms of sales channels, compared with 2022, Fuerjia Technology’s online channel revenue in the past year reached 924 million yuan, accounting for 47.76% of total revenue, a year-on-year increase of 28.53%. Offline channel revenue decreased by 3.87% compared to last year, amounting to 1.01 billion yuan, accounting for 52.23% of total operating income.
According to the financial report, in 2023, Fuerjia Technology’s research and development investment increased by 112.88% year-on-year, reaching 32.8388 million yuan, accounting for 1.7% of operating income. Regarding the increase in research and development expenses, Fuerjia Technology stated that it was mainly due to the company’s continuous increase in research and development investment.
Looking ahead to 2024, Fuerjia Technology stated that it will continue to enrich its product categories, solidify its product matrix primarily focused on facial masks, and continuously enhance its brand image and tone. Additionally, it will expand multi-channel sales both online and offline, continuously increase research and development investment, and optimize the supply chain capability to maximize efficiency.
