Chinese Cosmetics Group Chicmax Expects 28% More Than RMB1.6Bn Revenue in H1
- Chaileedo Press
- Aug 3, 2023
- 1 min read
The total revenue of Chicmax was about RMB 1.5527 billion ($215.9 million) to RMB 1.6159 billion ($224.7 million), with a growth of about 23% to 28%.
On August 2, Shanghai Chicmax Cosmetics Co., Ltd (hereinafter referred to as Chicmax, stock code: 02145.HK) released a forecast for the first half of 2023.
(Credit: from Chicmax)
During the reporting period, the total revenue of Chicmax was about RMB 1.5527 billion ($215.9 million) to RMB 1.6159 billion ($224.7 million), with a growth of about 23% to 28%. The profit was about RMB 98 million ($13.6 million) to RMB 104.5 million ($14.5 million), with a growth of about 50% to 60%. The growth is mainly due to the outbreak of Chicmax's core brand, Kans, in the Douyin (Chinese version of TikTok) channel.
According to CHAILEEDO data, during the Chinese 618 Shopping Festival thin year (May 25 to June 18), the skincare category in Douyin saw a year-on-year growth of 61.68%. The total GMV of Chinese brands accounted for 9.66% of the category, with Kans taking the second place among Chinese brands. In addition, in June, rankings of GMV of Kans rose 60 into the TOP5 list of skin care category on Kwai platform.
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