Post-Procedure Skincare Voolga to Reach $124 Million in H1 of 2022
- Chaileedo Press
- Jul 15, 2022
- 3 min read
Abstract: On July 13, Voolga updated its prospectus and replied to the second round of review and inquiry letter from the Shenzhen Stock Exchange.
In the updated prospectus, Voolga said that in the first half of 2022, mainly due to the impact of the epidemic, some regional terminal channels can not operate normally and the sales growth rate has slowed down. The company is expected to achieve operating income of $118 million to $124 million, an increase of 0.03% to 5.03%.
In the first half of the year, after the independent production of Voolga, it enjoyed the profit from the production link and the gross sales margin improved. The net profit attributable to the parent company is expected to be $49.5 million to $54 million, an increase of 7.35% to 16.96% year-on-year. The net profit attributable to the mother withheld is 329 million yuan to 361 million yuan, an increase of 8.18% to 18.70%. Previously, on June 23(China Standard Time), the prospectus published by Voolga showed that in 2021, its operating revenue was $246 million, up 4.08% year-on-year. The net profit was $120 million, up 24.38% year-on-year; net profit after deduction of the mother was US$116 million, up 62.29% year-on-year. The gross profit margin reached 81.95%. It is obvious that Voolga in 2021 and the first half of 2022 is outstanding in terms of both net profit and gross profit margin level.
In the reply to the inquiry letter, in response to the query about its R&D staff and competence competitiveness from Shenzhen Stock Exchange, Voolga said that its main business activities are focused on the brand empowerment link in the midstream of the industry, where the upstream stage forms consumer-approved products through market demand discovery and product formula proportioning. It cooperates with upstream producers in the form of exclusive production and exclusive agency. Comparable companies such as Bloomage Biotech and BTN cover the upstream research and development segment, while Voolga has a different business model and therefore has different investment in research and development. However, Voolga has gradually extended upstream, such as acquiring Beixing Pharmaceuticals in exchange for shares, expanding its R&D staff, and cooperating with external research institutes for new product development.
It is noteworthy that in the reply to the use of the funds raised, Voolga said that after the fund raising, it will build its own production base and the production capacity is expected to reach more than 600 million tablets. The company also intends to upgrade and optimize the manufacturing process and product performance of existing professional skin care products. It integrates the upgraded manufacturing process and production technology into the products to meet the high standard of differentiated demand for products from various downstream customer groups.
According to the analysis report of Frost & Sullivan, in 2020, the sales of patch products of Voolga was the first in China market for patch professional skincare products, accounting for 21.3%. Among them, its medical device dressing patch products will account for 25.9%, ranking first in China market. Its functional skincare product patch products accounts for 16.6%, ranking second in China market.
According to the official website, Voolga was established in 2017, mainly engaged in the research and development, production and sales of professional skincare products. It mainly sells products under the brand Voolga and its sub-brands Voolga Aesthetic Medicin and others. The product categories cover medical dressing products and functional skincare products. It mainly focuses on dressing and patch and film products. It also released different forms of products such as lotion, essence and lotion, spray, lyophilized powder.
In its official flagship store on the Chinese e-commerce platform Tmall, Medical Sodium Hyaluronate Dressing is the highest selling product in the store with monthly sales of 300,000+ priced at $6/2 pieces ranking first in the Tmall medical dressing list.
The global aesthetic medicine market size was valued at $99.1 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 14.5% from 2022 to 2030. Due to the aesthetic medicine market explosion, post-treatment skincare has grown one after another.
For example, OxygenCeuticals Ceutisome PP Mask and Koi Beauty Derma Roller Face Microneedling Professional Repair Cool Sheet Mask Acne Healing Patch have been well received by international consumers.
Since the suspension of the IPO at the end of last year, Voolga has recently updated its prospectus twice to continue the process of listing on the Second-board Market. CHAILEEDO will see whether the IPO of Voolga will be able to get the "first share of medical dressing" this time.
Comentarios