China's Famous Shampoo Producer Net Profit Down 81% to $3.66 million
- Chaileedo Press
- Apr 27, 2023
- 2 min read
Mingchen Health released its 2022 annual report, the company’s operating revenue reached 945 million yuan ($136.63 million), with an increase of 27.05% compared to the same period last year. The net profit of the company was ¥25.32 million ($3.66 million), a decrease of 81.03% compared to 2021.
Mingchen Health Co.,Ltd (Mingchen Health), China's famous Shampoo Producer, released its 2022 annual report, the company’s operating revenue reached 945 million yuan ($136.63 million), with an increase of 27.05% compared to the same period last year. The net profit of the company was 25.32 million yuan ($3.66 million), a decrease of 81.03% compared to 2021.
In March of last year, Mingchen Health was involved in insider trading during its acquisition of Hainan Huaduo and Hangzhou Leiyan companies. Three individuals were fined a total of 79 million yuan ($11.42 million). At the end of 2022, the company decided to terminate the acquisition of equity in Kashgar Aosu Network Technology Co., Ltd.
Public information shows that Mingchen Health is a high-tech enterprise engaged in the research and development, production, and sale of health care products. Its main products include beauty, hair care, and daily cleaning products, under brands such as "DIFASO," "Meiwon," and "Eihsia." In August 2020, the company expanded into the gaming industry through external mergers and acquisitions.
In terms of its main daily chemical business, the company will continue to optimize its traditional distribution channels, strengthen distribution, and promote the construction of end-point retail outlets.
The company will leverage its advantageous position in traditional distribution channels and strengthen channel distribution and retail terminal store construction on a dealer-by-dealer basis, focusing on key retail outlets to drive urban sales comprehensively. The focus of promoting the transformation of terminal channels will be on profit-oriented products, with efforts to improve terminal product profits and maintain and strengthen existing stores while adding advantageous network stores.
Mingchen Health said the company's business goals for 2023 are to achieve operating revenue of 1.6-1.9 billion yuan ($231.2 million-274.6 million) and net profit of 120-150 million yuan ($17.34-21.68 million). Following the overall budget plan above, the company will strive to achieve further growth in operating revenue and net profit.
In addition, Mingchen Health has released its 2023 Q1 report, which shows that the company achieved a total operating revenue of 407 million yuan ($58.82 million), with a remarkable increase of 172.98%. The net profit reached 34.1 million yuan ($4.93 million).
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