CBO reporter Guo Fen
In the first quarter of 2022, the functional skin care performance of one of Bloomage's three major business segments has performed well and become a growth engine, driving the company's revenue up 61.57% year-on-year to 1.255 billion yuan.
On April 26, Bloomage Biotechnology Co., Ltd. (hereinafter referred to as Bloomage Biotechnology) announced its operations for the first quarter of 2022.
According to the financial report, in the first quarter of 2022, the company's revenue was about 1.255 billion yuan, an increase of 61.57% year-on-year; the net profit was about 200 million yuan, an increase of 31.07% year-on-year; the investment in research and development was about 81.48 million, an increase of 109.24% year-on-year, accounting for 6.49% of the operating income.
The rise in revenue and profit has prompted Bloomage Biologics to have a positive performance in the stock market, as of today's (April 26) close, Bloomage Biologics' price per share reached 125.7 yuan, up 8.08% year-on-year.
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The four major brands continue to exert their strength
Skincare products continued to grow in the first quarter
For the increase in operating income, Bloomage Said was mainly due to the significant increase in sales revenue of functional skin care products.
Since 2018, Bloomage Biology has extended from the medical aesthetic business, taking the lead in developing functional skin care products in China, and transforming the research and development results into C-end transformation. At present, it has formed four major brand matrices based on BIOHYALUX, QUADHA, BM Muscle Activation (Bio-MESO) and MEDREPAIR.
Among them, after the rapid development of last year, Runbaiyan entered the 1 billion mark for the first time at the end of 2021, achieving sales revenue of 1.229 billion yuan. Under the leading role of this "super head" brand, Bloomage Bio's Kwadi, Mibel and BM Muscle Activity also grew rapidly in 2021, achieving revenue of 979 million yuan, 420 million yuan and 434 million yuan respectively.
Obviously, this high-speed development continued into the first quarter of 2022 and pushed Bloomage to a faster and higher-quality development path.
Previously, Bloomage Bio said in the annual financial report that the four major brands have passed the initial growth period of the brand, have formed large single products and have differentiated advantageous categories, entered the stage of scale, more and more mature products, and the user base is becoming more and more stable.
It is reported that in 2021, the four major brands have created their own core explosive products (star big items) and derivative series, including Runbaiyan's barrier repair, hydra series, Kwadi's secondary throw series, CT50 product series, BM muscle-activated brown rice series, Mibel's powder water and blue bandage mask, etc.
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R&D increased by 109.24% year-on-year
The new raw material "hydrolyzed zinc hyaluronate" was approved
At the same time as the growth of operating income, Bloomage Bio's R & D investment was also significantly increased, an increase of 109.24% year-on-year, reaching 81.48 million, accounting for 6.49% of operating income. It is worth noting that the proportion of this investment is almost the highest proportion of Bloomage's R&D investment in the past three years.
According to the financial report, the main reasons are the increase in employee compensation and equity incentive expenses, as well as the increase in direct investment in R&D in the current period due to the increase in R&D projects and the increase in outsourced R&D expenses.
According to the data, in the first quarter, Bloomage Further expanded its ecology in "industry-university-research", joined hands with the Ocean University of China to build a "Functional Glycomics Innovation Center", took the lead in building an international human milk oligosaccharide substance library and biological information database, and cooperated with the Institute of Biology of Shandong Academy of Sciences to build a "Joint Innovation Center for Efficacy Evaluation", which helped the core biotechnology system to tackle key problems and continuously improve the efficiency of industrial transformation.
At the same time, in order to achieve steady development, Bloomage Bio has made a number of breakthroughs in strategic layout, industry standards, product innovation and other aspects this year. On April 15, Bloomage Biotech and China Coal Geology Group Co., Ltd. officially signed the Property Rights Transaction Contract to acquire 51% of the equity of Beijing Yierkang Biological Engineering Co., Ltd. (hereinafter referred to as "Yierkang Biological") for 233 million yuan, officially entering the collagen industry. After the equity acquisition, collagen will become another core substance of Bloomage Biologics, further enriching the company's bioactive product pipeline and supporting the sustainable development of Bloomage's future business.
In addition, on April 23, Bloomage's new raw material - Hydrolyzed Zinc Hyaluronate " (record number: National Cosmetics Original Preparation 20220008) was successfully filed, which is the industry's first approved "HA + zinc" new raw material for hyaluronic acid, and its official approval means that the "hydrolyzed zinc hyaluronate" raw materials and cosmetics are in compliance with the domestic production and operation. "Hydrolyzed zinc hyaluronate" is the perfect combination of HA and zinc, with the effects of HA and zinc, hyaluronic acid can also increase the bioavailability of zinc, can be used in masks, serums, creams, toothpaste, mouthwash, shampoo and other personal care products.