Shanghai Jahwa Expects Net Profit Up 100% in H1

It is reported that Shanghai Jahwa is expected to increase its net profit for the first half of the year by 81% to 100% year-on-year.

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Yesterday (July 14), Shanghai Jahwa Union Co., Ltd (hereinafter referred to as: Shanghai Jahwa) released 2023 half-year performance forecast announcement.

The announcement shows that Shanghai Jahwa expects the first half of the net profit of 285 million yuan ($40 million) to 315 million yuan ($44 million), an increase of 81% to 100%.

Moreover, Shanghai Jahwa also expects to achieve net profit attributable to owners of the parent company after extraordinary gains and losses of 249 million yuan ($34.86 million) to 275 million yuan ($38.5 million) in the half-year of 2023, compared with the same period of the previous year, will increase 47.91 million yuan ($6.7 million) to 74.08 million yuan ($10.4 million), an increase of 24% to 37% year-on-year

Shanghai Jahwa said in the announcement, the company since the second quarter, increase brand investment, drive high gross profit skin care category revenue growth, structural enhancement of the gross profit margin, while maintaining the sales expense rate, management expense rate of steady decline, the first half of the domestic business net profit of non-deductible year-on-year growth of about 80%; the company's overseas business is under pressure, net profit of the overseas business in the second quarter fell by about 25%.

Shanghai Jahwa is one of the national enterprises with a long history in China's beauty and daily chemical industry, listed on the Shanghai Stock Exchange in 2001. It is the first listed enterprise in the industry in China. It focuses on three major areas of beauty, personal care and household cleanliness, mother and child, with brands such as Herborist, Dr. Yu, Giving and other cosmetic brands.