BYHEALTH Recorded Revenue of CNY 5.033 billion for the First Three Quarters with Net Profit Attributable to the Parent Increased by 23.16%

 2020.10.27

BYHEALTH Co., Ltd. (Stock code: 300146, hereinafter referred to as “BYHEALTH” or “the Company”) released its quarterly report Q3 2020 on the evening of October 27. In the first three quarters of 2020, the Company had a revenue of CNY 5.033 billion, a year-on-year increase of 14.88% and a net profit of CNY 1.467 billion (attributable to shareholders of listed company), a year-on-year increase of 23.16%.

The Company saw a season-by-season improvement in performance for the first three quarters this year. As for such period, the Company was exposed to the impact of COVID-19 on its operation in Q1, and saw a revenue recovery in Q2 and rapid increase in both revenue and performance in Q3. The Company’s on-line channels remained running with high-speed growth and its on-line channels at home recorded a year-on-year increase of 49.72% in revenue. On such basis, the Company continued to attach higher attention to e-commerce, as evidenced by its efforts in connecting the whole on-line chain and forming synergy with off-line business through increasing the investment in Guangzhou I-MYBEST Network Technology Co., Ltd.

Depending on the strategy of “science-based nutrition” and its strength in scientific research, the Company has shown outstanding advantages of its products. The Company is dedicated to building the strength of science-based nutrition product power through focusing on the technical R&D of new detection technology, evalsuation method, population database, functional products, knowledge map and intelligent algorithm related to precise nutrition. So far, the Company has obtained abundant achievements and stored up profound technical accumulation, including personalized vitamin particle products, personalized vitamin manufacturing equipment connecting with core algorithm and fully automatic dry blood spot detection center. Meanwhile, the Company has launched new functional innovative research and product development such as maintaining normal platelet aggregation and the reduction of AGEs (advanced glycation end-products). Furthermore, the Company has developed self-owned patent new strains and successfully researched and registered oral micro effervescent tablets, personalized vitamin particle, isotonic-pressure energy gel and other products with new formulation. The Company will continue investing developments of science research, to fully activate the strength of products.

Meanwhile, the Company insisted on implementing its efforts and layout under the big strategy of consumers’ health and took the lead in embracing overall recovery growth in VDS business through its core market strategy of 4 2 1 multi-product all-out promotion and its new sales model applicable to the operation of several hero products. Specifically, the main brand “BYHEALTH” recorded a revenue of CNY 2.986 billion, a year-on-year increase of 9.43%; the joint health brand “KEYLID” recorded a revenue of CNY 1.084 billion, a year-on-year increase of 12.21%; and the domestic products of “Life-Space” recorded a revenue of CNY 131 million. Meanwhile, “Jianshijia” and new product “Jianganshi” that launched this year and targeted to the liver health market will continue to support the momentum of market growth.

In the next stage, the Company will actively respond to the severe and ever-changing market environment and promote such innovative strategies as “science -based nutrition”, the management of users’ assets, the whole-chain digitalization, a super supply chain and dealer fission while looking forward to the future. Given the 6-fold increase of the VDS industry in China, the Company status as a leader in the VDS industry in China, speed-up market demand growth of products relevant to nutrition and health in the post epidemic era and other multiple favorable factors, some institute has noted that the Company is expected to see continuous improvement in fundamentals and promising prospect.