The Chinese beauty industry is growing steadily despite the impact of COVID-19
Chicmax Group (Chinese: 上海上美化妆品股份有限公司) has finally passed the listing decision recently, with its beauty brands Kans, One Leaf and once again in the spotlight.
The prospecting plan mentions that the funds will be mainly used for brand marketing investment, research and development investment, as well as supply chain, factory, digital construction and supplementary working capital.
The financial report shows that Chicmax Group achieved revenue of CNY 2.87 billion, CNY 3.38 billion, CNY 3.62 billion and CNY 1.26 billion from 2019 to H1 of 2022, respectively, and net profit of CNY 59.4 million, CNY 203 million, CNY 339 million and CNY 62.8 million, respectively. Chicmax Group has maintained an average annual revenue growth rate of 7.99% and a net profit growth rate of 78.71% in recent years.
From 2019 to H1 2022, the revenue share of Chicmax Group's online channel increased from 52.4% to 73.8%, while the number of offline distributors continued to decrease. The brand's largest offline sales and display channels are concentrated in Watsons stores, and the e-commerce channel has become the main focus for the brand to invest in.
Chicmax Group said that the company experienced delivery difficulties in H1 2022 due to the impact of covid-19, which directly led to an increase in order cancellation rates. Despite significant fluctuations in revenue, Chicmax Group believes the company's overall performance remains stable.