Today, Chinese cosmetics online retail service provider, Lily&Beauty, released its annual performance forecast for 2023, stating that it expects to achieve a net profit attributable to shareholders of the listed company ranging from 28 million to 35 million yuan ($3.9 million-$4.88 million). Compared to the same period last year, it is expected to turn losses into profits.
It is reported that Lily&Beauty had a net loss attributable to shareholders of the listed company of approximately 139 million yuan ($19.36 million) in 2022, and a net loss attributable to shareholders of the listed company after deducting non-recurring gains and losses of approximately 172 million yuan ($23.96 million). The loss per share was 0.35 yuan per share.
Regarding the reasons for the performance change, Lily&Beauty stated that it is mainly due to the growth of the company’s emerging channel business, smooth progress of incubated brands, improvement in inventory structure, and overall cost control. According to public data, in 2023, Lily&Beauty’s subsidiary, Jadeauty, launched safflower essential oil in September and achieved a sales increase of over 200% in just three months compared to June 18th. It also ranked on several popular best-selling lists such as Tmall’s anti-wrinkle essence oil hot-selling list and Douyin’s brightening essence oil popularity list.
