COSMOS Operating Revenue Up 61.85% to $ 256.43 mil
- Chaileedo Press
- Apr 21, 2023
- 2 min read
Updated: Apr 23, 2023
Nanjing COSMOS Chemical Co., Ltd.(COSMOS), the Chinese cosmetic active ingredients producer, delivered 1.764 billion yuan ($ 256.43 mil) in operating revenue, with and remarkable growth of 61.85%.
Nanjing COSMOS Chemical Co., Ltd.(COSMOS), the Chinese cosmetic active ingredients producer, delivered 1.764 billion yuan ($ 256.43 million) in operating revenue, with and remarkable growth of 61.85%. While the net profit attributable to shareholders reached 388 million yuan ($56.36 million), a year-on-year increase of 192.13%.
According to the financial report, the company is mainly engaged in the research and development, production and sales of daily chemical raw materials, including sunscreen and other cosmetic active ingredients, synthetic fragrances, etc.
The company's products have entered the international mainstream market system. The main customers of cosmetic active ingredients such as sunscreens include DSM, Beiersdorf, Procter & Gamble, L’Oréal, Merck, Johnson & Johnson and other large multinational cosmetic companies and specialty chemical companies. The main customers of the company’s synthetic fragrances products Include Givaudan, Firmenich, IFF, Symrise, Colgate and other world-renowned fragrance and flavor companies and oral care companies.
In terms of products, cosmetic active ingredients and raw materials recorded 1.44 billion yuan($209.326 million) in operating revenue, saw growth of 97.14%, accounting for 81.65% of COSMOS’ total operating revenue. Synthetic fragrances recorded 288 million yuan in operating revenue, a year-on-year decrease of 10.54%, accounting for 16.36% of the company’s total operating revenue.
COSMOS said that with the continuous recovery of the downstream market of cosmetic active ingredients and its raw material business, the company's operating revenue achieved a outstanding growth in 2022.
At the same time, the company's product price adjustment measures based on the sharp rise in raw material and sea freight prices since the fourth quarter of 2021 have been gradually implemented. And the company's overall capacity utilization rate has increased, which made the company's comprehensive gross profit margin during the reporting period to increase to 36.66%.
COSMOS stated that In 2023 the company is set to strengthen business cooperation with domestic leading cosmetics companies and focus on promoting business cooperation with domestic leading care products brands.
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