Today (August 28th), Lafang China Co. Ltd. (603630.SH) released its interim report for the year 2023.
The company is mainly engaged in the research, development, production, and sales of personal care, skincare, and cosmetics products. Its main self-owned brands include Lafang, Raclen, and Mese, as well as the exclusive distributorship of the high-quality overseas skincare brand REPACELL and the integration of the cosmetics brand VNK.
According to the report, the company achieved operating revenue of 372 million yuan ($51 million) during the reporting period, a year-on-year decrease of 6.34%. The net profit attributable to shareholders of the listed company was 54.3845 million yuan ($7.46 million), a year-on-year increase of 19.28%. The net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 50.6575 million yuan ($6.95 million), a year-on-year increase of 17470.85%.
Furthermore, the financial report revealed that the Lafang brand achieved operating revenue of 266 million yuan ($36.47 million) in the first half of the year, accounting for 71.44% of the total operating revenue and a year-on-year increase of 19.66%. Raclen achieved operating revenue of 30.4449 million yuan ($4.17 million), a year-on-year increase of 30.11%.
In terms of sales channels, the distribution channels achieved operating revenue of 282 million yuan ($38.67 million) in the first half of 2023, accounting for 75.90% of the total operating revenue and a year-on-year increase of 14.88%. The e-commerce and retail channels achieved operating revenue of 85.5897 million yuan ($11.74 million), accounting for 23.01% of the total operating revenue and a year-on-year decrease of 28.24%.
