- 2021-05-13
- 阅读量：2253
- 来源｜CBO
- 作者｜Li Jianzi
The company intends to develop from the largest listed company engaged in e-commerce of facial masks to the leader of online distributor operation.
Yujiahui, the original securities name of S'YOUNG, was officially renamed S'YOUNG on April 1, 2021. S'YOUNG said that it intends to form a model of development driven by both its own brand business and distributor brand business in the future.
The financial report shows that during the reporting period the company recorded operating revenue of RMB3,715,035,400, up 54.02% year over year; recorded net profit attributable to shareholders of the listed company of RMB140,273,600, up 415.28% year over year; and recorded net profit (after deduction of non-recurring profits and losses) attributable to shareholders of the listed company of RMB135,886,400, up 2,094.56% year over year.
According to S'YOUNG's explanation, the growth in performance was attributable to rapid growth of the company's own brand and distribution business. In 2020 its brand management service revenue amounted to RMB250 million (up 64.94% year over year), accounting for 6.73% of its total operating revenue.
01
90% total sales revenue contributed by online sales and double-digit growth recorded for offline sales
In terms of sales channels, the sales revenue from online channels of S’YOUNG that started from e-commerce business, contributed to 90% of its total sales revenue in 2020. Specifically, its sales revenue from third-party platforms such as Taobao series platforms and Vipshop accounted for 86.78% of its total revenue. At present, S'YOUNG has establishedin-depth cooperative relationships with mainstream e-commerce platforms such as JD.com, Douyin(TikTok), and Pinduoduo.
In terms of offline channels, the company has mainly sold products through direct-sale stores, distribution and consignment models. The company has put its products on shelves in Watsons, Wal-Mart, Carrefour, Mannings, cosmetics franchise stores in major cities, and its direct-sale stores, achieving full coverage of online and offline channels.
It is worth mentioning that in 2020 the company's offline channel capabilities further enhanced with double-digit growth of annual offline sales revenue. Specifically, UNIFON ranked top three in terms of mask retail share of Watsons channel in 2020, and the brand also launched skin care line products on the Watsons channel.
With respect to its own brands, S'YOUNG, known as the largest listed company engaged in e-commerce of facial masks, mainly has brands such as "UNIFON" and "Xiaomihu".
In terms of products, facial masks are still the main source of income for S'YOUNG. In 2020 the revenue of facial mask products accounted for 41.54% ofthe total revenue; specifically, non-sheet masks had gross profit margin of 73.63% and achieved 157.67% year over year growth of operating revenue. In addition, make-up water and lotion and cream products contributed 51.48% of the total operating revenue and recorded gross profit margin of 42.12% and 71.91% year over year growth of operating revenue.
02
At present, Ocean Antelope International's business is divided into own brand business and distributor brand business.
The core brand of the company UNIFON has been upgraded from inside out during the reporting period. In terms of new and cutting-edge brands, Xiaomihu has completed a comprehensive brand upgrade and launched a new IP image MIHOO to establish and emotional connection with young consumers. At the same time it has actively embraced new media and new marketing, strengthened brand promotion through short video implantation, live video streaming by web celebrities, development of IP peripheral derivatives, and film and television implantation, and it has successfully launched the niacinamide product kit, achieving business growth.
In addition, S'YOUNG mentioned that the Yu MEN brand pioneered the concept of "soap ammonia scientific formula" in the men's cleansing product category, and innovated the formula to match the cleansing demands of Chinese male consumers. The comprehensively upgraded bamboo charcoal cleansing liquid has been well received by consumers and the industry with over 1.6 million bottles sold throughout the year, and thus has become a super single product inthe men's cleansing product category. The Tmall flagship store for Yu MEN brandrecorded over 60% year over year growth of annual sales and maintained rapidgrowth for two consecutive years.
The Tmall flagship store for Huayaohua brand had the number of members increased by 30% and continued to improve the repurchase rate of members and profitability through optimizing products and refined member management.
According to the publicly disclosed information, S'YOUNG launched an independent open platform "OceanAntelope International" in 2018 to provide overseas brands with distribution services in the Chinese market. In 2020 S’YOUNG started to undertake the distribution business for Johnson & Johnson, and also reached business cooperation with 30 international brands including EviDenS de Beauté (a Japanese-French skin care brand), KIKO (an Italian cosmetics brand), LIERAC (a French laboratory brand), and Lumene (a Finnish skin care brand).
The annual report shows that in 2020 the company continued to make efforts by actively expanding new distribution brands on one hand and constantly empowering distribution brands on the other hand, with cooperative brands gradually entering a positive track.
First, the "Dr. Ci: Labo" brand created a content e-commerce ecosystem through advertisements on Douyin (TikTok) and its hit product 377 Essence realized sales revenue from Douyin (TIkTok) as 30% higher than that on Taobao channels in the same period. "Listerine" brand achieved business growth by creating a hit product -- sakura nectarina mouth wash through advertisements on Douyin (TikTok) which drove the increase in the number of female users, and incubated a functional new product -- anti-sensitive mouthwash.
In 2020 the company also introduced, among others, Hawkins&Brimble, a British men's grooming brand, and NATASHADENONA, an American avant-garde master art makeup brand. As at the disclosure date of this report, the company has reached business cooperation with more than 30 international brands.
The annual report also pointed out that in terms of digitalization, the company has the characteristics of youthfulness and digitalization and its employees have an average age of no more than 30. It is one of the few teams in the beauty industry with many years of digital operation experience.
More importantly, when domestic product brands were questioned as "focusing more on marketing and less on R&D", S'YOUNG said thatin terms of research and development the company achieved the empowering of products with research and development and the empowering of brands with products. This was done by participating in the drafting of industry standards of the state, opening basic research platforms, researching and developing unique raw materials, and integrating three generations of formula. As at this reporting period the company has participated in the formulation of 12 industry standards of the state, including facial mask industry standards, national cleansing oil industry standards, etc. The company will continue to lead the industry through the state standards system.
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