Chinese Hyaluronic-acid-focused IMEiK Net Profit Expected to Rise 70% YOY in H1 Reaching RMB 1Bn

Today (August 3), IMEiK Technology Development Limited Company (hereinafter referred to as IMEiK) released the 2023 half-year performance forecast.

According to public information, IMEiK was founded in 2004 and focused on hyaluronic acid sector. It is a professional engaged in biomedical materials research and development, production and sales of national high-tech medical aesthetic enterprises. It is one of the largest suppliers of hyaluronic acid dermal filler in China.

The announcement shows that as of June 30, the net profit attributable to shareholders of the listed company is expected to be 935 million yuan ($130 million) -995 million yuan ($138.5 million), up 60% - 70%. After deducting non-recurring gains and losses, the net profit is expected to be 908 million yuan ($126.3 million) -968 million yuan ($134.7 million), a year-on-year increase of 61% - 71%, up 61% - 71%.

During the reporting period, the company continued to adhere to the marketing model of "direct sales, supplemented by distribution" to enhance the breadth and depth of cooperation with downstream medical beauty organizations. On the product side, with a full range of differentiated product matrix, clear product positioning, it continues to enhance product competitiveness and brand influence. As a result, the performance has achieved substantial growth.

In addition, the announcement indicated that the financial data from January to June 2022 for the same period of the previous year had been retrospectively adjusted in accordance with "Accounting Treatment for Deferred Income Taxes Related to Assets and Liabilities Arising from Individual Transactions Not Subject to the Exemption from Initial Recognition" in "Interpretation of Accounting Standards for Business Enterprises (ASBE) No. 16" issued by the Ministry of Finance (MOF) in December 2022. The retrospectively adjusted net profit attributable to shareholders of the listed company for the same period of the previous year amounted to RMB 585.09 million ($81.4 million). The net profit attributable to shareholders of the listed company after deduction of non-recurring gains and losses amounted to RMB 564.77 million ($78.6 million).