China Famous Toothpaste Producer Yunnan Baiyao Sales Reached $1.52 billion Q1
- Chaileedo Press
- Apr 28, 2023
- 2 min read
Yunnan Baiyao has released its Q1 2023 financial report. From January to March, Yunnan Baiyao's overall revenue was 10.513 billion yuan ($1.52 billion), a year-on-year increase of 11.49%. The net profit attributable to shareholders of the listed company was 1.518 billion yuan ($219.56 million), saw growth of 66.01%。
Yunnan Baiyao has released its Q1 2023 financial report. From January to March, Yunnan Baiyao's overall revenue was 10.513 billion yuan ($1.52 billion), a year-on-year increase of 11.49%. The net profit attributable to shareholders of the listed company was 1.518 billion yuan ($219.56 million), saw growth of 66.01%; the non-recurring net profit was 1.403 billion yuan ($202.88 million), a year-on-year increase of 6.29%.
According to previous reports, Yunnan Baiyao's overall revenue in 2022 was 36.488 billion yuan ($5.28 billion), a year-on-year increase of 0.31%. The net profit attributable to shareholders of the listed company was 3.001 billion yuan ($434.07 million), saw growth of 7%. Yunnan Baiyao toothpaste maintained its position as the industry leader with a market share of 24.4%.
In 2022, Yunnan Baiyao Group's subsidiary, Yunnan Baiyao Group Health Products Co., Ltd., which specializes in the production and sales of oral hygiene products, recorded a revenue of 6.03 billion yuan ($872.14 million), a year-on-year increase of 2.03%. However, its net profit was 2.183 billion yuan ($315.74 million), a year-on-year decrease of 3.45%.
Yunnan Baiyao has formed four major business units, including pharmaceuticals, health products, Chinese medicine resources, and Yunnan Province Pharmaceutical Co., Ltd. In 2022, all four business units saw varying degrees of revenue growth. The health products business unit, which focuses on daily use products, exceeded 6 billion yuan ($867.80 million) in revenue for the first time. Within this unit, oral care and the Yongyangqing brand products saw strong growth, and the market share of the toothpaste category increased to 24.4%, up from over 23% in 2021. Yunnan Baiyao continues to hold the top position in the toothpaste market, with a brand penetration rate of over 30%.
In the financial report, Yunnan Baiyao stated that the company will upgrade its organizational capabilities, improve management requirements, provide professional support, and effectively control risks. The company will optimize and improve its organizational structure from the aspects of organizational structure design, business management team configuration, and business integration optimization, and re-determine the group's organizational structure for 2023.
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