CHICMAX achieved a revenue of 3.502 billion yuan in the first half of 2024, with a significant increase in net profit of 308.7%

According to the information from Zhitong Finance APP, on August 22, CHICMAX (02145) officially released its mid-term performance report for 2024, showing a significant increase in both revenue and profit. The announcement revealed that in the first half of 2024, CHICMAX achieved a revenue of 3.502 billion yuan, a year-on-year increase of 120.7%; a net profit of 412 million yuan, a year-on-year increase of 308.7%; a gross profit of 2.68 billion yuan, a year-on-year increase of 144.6%; and a gross profit margin of 76.5%, a year-on-year increase of 7.5 percentage points.

The announcement also indicated that in the first half of 2024, CHICMAX's main brand Hanshu once again reached a new high, achieving operating income of 2.927 billion yuan, a year-on-year increase of 184.7%; while the second growth curve "newpage" surged ahead, with revenue of 161 million yuan, a year-on-year increase of 173.2%. The rapid growth of revenue from Hanshu through multiple channels and the significant improvement in sales performance of "newpage" have driven the substantial growth in revenue and profit for CHICMAX.

Based on the high growth in corporate performance and comprehensive efforts in strategic dimensions such as continued investment in research and development, the company's profitability is steadily improving. The dividend payout ratio continues to rise—basic earnings per share in the first half of 2024 were 1.01 yuan/share, a year-on-year increase of 304.0%; and the declared dividend per share in the first half of 2024 was 0.75 yuan/share, with a total dividend amount of up to 299 million yuan. At the same time, the cumulative dividend amount distributed by CHICMAX since its listing has reached 780 million yuan, indicating promising investment prospects.

Supporting Sustainable Growth with Multiple Successful Brands

Currently, CHICMAX has formed a brand matrix of "one super, multiple strong, advancing together", and through the sustainable growth model of "super brand + second growth curve", it is releasing strong momentum through multiple channels, providing high corporate momentum for the high growth of CHICMAX's performance.

The high growth performance of the main brand Hanshu and the accelerated development of online multi-channel sales are closely related, with the high momentum accumulated on Douyin further spreading to other e-commerce platforms. Data shows that in the first half of 2024, Hanshu's online multi-channel sales growth rate reached 222.8%, making it the only brand in the top 20 of the beauty industry to achieve triple-digit growth. The popular product "Red Waist" has sold over 10 million sets across all channels, while "White Waist" has sold over 1.5 million sets across all channels.

At the same time, CHICMAX's new brand "newpage" as a "dark horse" has achieved outstanding performance in the consumer market, boosting the company's confidence and strength in continuously exploring new business areas. "newpage", which has only been online for two years, has gained wide market recognition. In the first half of 2024, "newpage" achieved triple-digit year-on-year growth in its flagship stores on Douyin, Tmall, and JD.com. The brand has pioneered the infant and child functional skincare category in the industry, and created a collaborative business model for medical research, highlighting its high-end, differentiated, and professional approach in the maternal and child market.

Leading in scientific research to strengthen competitive advantage, self-developed raw materials leading technological innovation

In the first half of 2024, the company invested over 78 million yuan in innovative research and development, a year-on-year increase of 44.0%. Since its establishment, the company has insisted on independent research and development for over 20 years, building a mature talent and technology system, and achieving a "triple jump" in the field of scientific research.

In April 2024, CHICMAX independently developed a new raw material, and Han Shu's revolutionary collagen regeneration technology "Hexapeptide-9" has been successfully filed, becoming the world's first brand to independently develop hexapeptides in the field of skincare, ushering in the era of scientific anti-aging for domestic products.

Currently, CHICMAX has established an open innovation independent research and development platform, namely the "1+N" industry-education-research-medical innovation platform driven by technology and consumer demand, allowing the global brain to become a source of innovation. It is vigorously developing international dual-center smart factories, conducting basic research in collaboration with top universities at home and abroad, establishing an international computational biology research center, conducting multi-center human clinical research at home and abroad, and serving Chinese brands with world-class research services.

Focusing on strategic outperformance over cycles to create long-term value for the enterprise

At the end of 2023, CHICMAX established the "2+2+2 Strategy" and the "Six-Six Strategy," proposing that in the next 3 years, the company will deeply cultivate the three major tracks of skincare, hair care, and maternal and child care, layout mass market, mid-to-high-end, and high-end price segments, achieve 2 super skincare brands, 2 strong maternal and child care brands, and 2 super hair care brands, enhancing the company's resilience to navigate economic cycles.

Over the next 10 years, the company will focus on six major sectors in the domestic market: mass skincare, hair care personal care, maternal and child products, skin medical beauty, makeup, and high-end skincare + instruments, to meet diverse consumer demands, stimulate the high potential and momentum of each brand, and support the company's long-term, healthy, and sustainable development.

As a leading domestic cosmetics company that has experienced over 20 years of market cycles, CHICMAX, guided by its new development strategy, has accelerated the enhancement of its comprehensive strength in innovation research and development, supply chain management, and other aspects, gradually gaining the resilience and strength to overcome the current global economic downturn.

From a macro-industry perspective, the Chinese cosmetics market is presenting a new pattern of "catching up and surpassing", and CHICMAX has undoubtedly demonstrated its leading and scale effects. In the future, with concerted efforts in research and development, production, supply chain, marketing, and other dimensions, CHICMAX is expected to continue to solidify its long-term corporate value and lead the high-quality development of domestic cosmetics