Strong demand drives performance growth
According to Vipshop data, since the beginning of this year, the popularity of immune enhancing health products has skyrocketed, with sales of probiotics increasing by 84% year-on-year, sales of protein/amino acid related products increasing by 94% year-on-year, and sales of lactoferrin related products increasing by 347% year-on-year. One third of the consumers are young people under the age of 30, becoming the main consumer of dietary supplements in China, driving comprehensive changes in the industry from the product side, channel side, and demand side.
According to the 2023 first quarter report released by Thomson Beijian, the company achieved a revenue of 3.108 billion yuan, a year-on-year increase of 36.30%; The net profit attributable to the parent company was 1.03 billion yuan, a year-on-year increase of 55.27%, and a quarterly profit of 1.03 billion yuan, setting a new historical high for the company.
According to the 2023 first quarter report released by Conway, the company achieved a revenue of 2.131 billion yuan, a year-on-year increase of 25.27%; The net profit attributable to shareholders of the listed company was RMB 284209700, a year-on-year increase of 175.17%. During the reporting period, the company's self healthcare product business achieved a revenue of 1.115 billion yuan, a year-on-year increase of 52.33%. Among them, the over-the-counter drug business achieved a revenue of 967 million yuan, a year-on-year increase of 55.6%, and the health consumer goods business achieved a revenue of 148 million yuan, a year-on-year increase of 33.9%.
Baihe Shares also made a good start. According to the 2023 first quarter report released by Baihe Group, the company achieved revenue and attributable net profit of approximately 232 million yuan and 44.7832 million yuan, respectively, with year-on-year growth of 58.73% and 43.99%, and a significant increase compared to the previous month.
Regarding the performance growth, the relevant person in charge of Thomson Beijian explained that it mainly benefits from the increase in market demand for products such as immune enhancement brought about by the improvement of national health awareness. Among the main brands, the comprehensive health brand "Thomson Beijian" and the main probiotic brand "Life Space" have both achieved significant growth. The performance of the first quarter of this year was indeed affected by the surge in short-term demand. In terms of sustainability, the company has noticed that the penetration rate of dietary supplements has significantly increased in the past few years, and the penetration rate increased significantly in the fourth quarter of last year. Therefore, the overall direction of demand increase is certain, but the growth rate may gradually return to normal. This year, we plan to achieve double-digit growth in operating revenue
Enterprises maintain optimistic expectations for future demand as a whole. The relevant person in charge of Kangenbai stated that although the demand for health food will fluctuate quarterly, looking at the entire year, the company believes that the business can maintain the current high growth rate. "Our goal is to increase revenue by 25% for the entire year." Kangenbai's health food sales revenue increased by 35% year-on-year, driving the company's operating performance to achieve rapid growth in the first quarter of this year.
Sun Tongbo, Secretary of the Board of Directors of Baihe Group, stated that in 2023, the willingness and demand for national health consumption have risen to new heights, and the age group of consumers of nutritional and health food is constantly expanding. The demand for nutritional and health food among middle-aged and young people is also rapidly increasing, with strong market demand. Baihe Shares achieved operating revenue of 2% in the fourth quarter of 2022