On the evening of February 28th, Bloomage Biotech released its 2023 annual performance report. The operating revenue was approximately 6.081 billion yuan ($845.2 million), a decrease of 4.37% compared to the previous year. The net profit attributable to shareholders of the listed company was approximately 587 million yuan ($81.58 million), a decrease of 39.5% compared to the previous year. The basic earnings per share were 1.22 yuan, a decrease of 39.6% compared to the previous year.
Specifically, Bloomage Biotech’s raw material business continued to grow steadily, while the medical terminal business maintained high-speed growth. However, the functional skincare product business experienced a temporary decline. As functional skincare products accounted for the largest proportion of the company’s total operating revenue, there was a slight decrease in the overall operating revenue compared to the same period last year.
Bloomage Biotech stated that the significant year-on-year decline in operating profit, total profit, net profit attributable to the owners of the parent company, net profit attributable to the owners of the parent company after deducting non-recurring gains and losses, and basic earnings per share was primarily due to the decrease in the company’s total operating revenue and comprehensive gross profit margin, as well as increased expenses related to depreciation and amortization resulting from previous substantial investments.
