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Revenue was 3.108 billion yuan, a year-on-year increase of 36.30%, and net profit was 1.03 billion yuan, a year-on-year increase of 55.27%. On the evening of April 26, as the first big test of the new cycle of the VDS industry, BY-HEALTH (300146. SZ) delivered a beautiful answer to its 2023 first-quarter report. The company's revenue and profit hit a record high in a quarter, and the growth rate exceeded market expectations.
During the reporting period, the company achieved multi-category, omnichannel, domestic and overseas business growth, and at the same time, benefited from the impact of the epidemic, the improvement of national health awareness, and the surge in demand for products such as enhancing immunity, hitting a record high in single-quarter performance. Not long ago, BY-HEALTH Chairman Liang Yunchao proposed to shareholders that 2023 would start a new cycle of VDS (Dietary Nutritional Supplement) growth. BY-HEALTH's first quarterly report data supports this judgment.
Among them, BY-HEALTH's main brand achieved revenue of 1.878 billion yuan, a year-on-year increase of 45.41%, and its protein powder, vitamin C, and other varieties achieved rapid growth. The global revenue of the "Life-Space" brand continued to grow rapidly. The operating income of domestic products was 170 million yuan, a year-on-year increase of 75.79%, and the overseas business LSG operating income was 57 million Australian dollars, a year-on-year increase of 53.69%. At the same time, many brands, such as Jianshijia, Jiananshi, Weiman C, Health, and others, performed well. Overall, the offline channel is Health's stable market, with revenue growth of 16.18%, and its market position is far ahead. Revenue from online channels increased by 90.98% year-on-year. The top three BY-HEALTH accounts for over half of the subcategories of Alibaba Healthcare and JD Nutrition and Health. Among them, the Alibaba platform's protein powder, collagen, and probiotics categories ranked first; the JD platform ranked first in enhancing immunity, probiotics & gastrointestinal maintenance, improving eyesight, and improving sleep.
With the opening of the new cycle of VDS, Liang Yunchao believes that this is the "best opportunity" for the VDS industry. Facing the new process, he has determined the development strategy of "strong technology and strong brand."
The company firmly implements the scientific nutrition strategy. It continues to promote forward-looking basic research such as national invention patents for raw materials and formulas, research and development of new and heavy-duty single products, anti-aging and precision nutrition around the three "moon goals," and accelerate the transformation of strong technology-based enterprises. BY-HEALTH, full of technological strength, has allowed the outside world to see more room for imagination.
Previously, BY-HEALTH has successively released the research results of PCC1, the world's leading anti-aging substance, the first large-scale study on NAD+ and aging in the Chinese population, and the research results of Qingluosu on improving blood flow health in the Chinese people. Functions and new technologies, including the patented strain LPB27, independently developed for seven years, have been implemented on the product side.
Last week, BY-HEALTH's sub-brand Yep achieved a breakthrough in raw material technology and released the GAGs collagen peptide product. By creating differentiated product advantages, it continues to lead the industry in innovation and create incremental value for consumers.
Preparation is the natural law of winning. With the arrival of the new VDS cycle, the market space dedicated to strong technology companies is gradually opening up.
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