Today, Qingdao Kingking Applied Chemistry Co., LTD (hereinafter referred to as “Kingking”) has released its 2023 annual performance report.
The report shows that in 2023, the company achieved operating revenue of 2.509 billion yuan ($346.4 million), a year-on-year decrease of 14.99%; the net profit attributable to shareholders of the listed company was 10.4226 million yuan ($1.44 million), turning a loss from the same period last year into a profit. In addition, in 2023, the company’s overseas business recorded 956 million yuan ($131.99 million), accounting for 38.12% of the operating revenue, a decrease of 5.95% compared to the previous year.
It is reported that Kingking’s main business is divided into three major sectors: new material candles, aromatherapy and art crafts business, cosmetics business, and supply chain business. Among them, the new material candles, aromatherapy and art crafts business, and cosmetics business are the core business development sectors of the company.
Kingking stated that in 2023, the cosmetics business recorded 548 million yuan ($75.66 million), accounting for 21.86% of the total operating revenue, a decrease of 39.1% compared to the previous year. The company actively introduced high-quality overseas brands and the number of agency brands continued to increase. At the same time, based on well-known chain channels such as Watsons and Mannings, it expanded to offline and online channels such as Xiaomei Department Store, Douyin Store, Tmall flagship store, WeChat mini-program, and Kuaishou.
Regarding cosmetic brands, Kingking stated that its subsidiary, New Lansho
