Pioneer of consumption recovery, Amic's Q2 net profit margin under the influence of the epidemic greatly exceeded expectations | Insight Research

time:2022-12-09 20:03:36source:chakarski.com author:Individual stock analysis
Pioneer of consumption recovery, Amic's Q2 net profit margin under the influence of the epidemic greatly exceeded expectations | Insight Research

On the afternoon of August 24, Amic announced the 2022 interim report: 2022 H1 achieved revenue of 880 million yuan, a year-on-year increase of 39.7%; realized a net profit of 590 million yuan, a year-on-year increase of 38.9%; The revenue was 450 million yuan, a year-on-year increase of 21.4%; the net profit attributable to the parent was 311 million yuan, a year-on-year increase of 22.05%; the Q2 performance was slightly higher than expected, and the original market expected performance increased by 15-20%. The company was severely disrupted by the epidemic in Q2, and the medical and beauty stores in East China, which accounted for 45% of their revenue, still performed well even when they were almost unable to open:
  • The growth rate of net profit attributable to the parent and the growth rate of revenue Equivalent, increased revenue and profit, and the cost-effectiveness ratio is still properly controlled; Q2 gross profit margin was 94.3%, basically the same as Q1, net profit margin reached 68.4%, an increase of 3.4 pct compared to Q1's 65.0%, mainly due to sales expenses There was a considerable decline in the rate of 7.05%, which was a decrease of 5.48 pct compared with 12.53% in Q1.
  • The net profit attributable to the parent, the net profit after deducting the non-attributed net profit, and the operating cash flow are highly similar, and the profit quality is as high as ever.
  • From the perspective of splitting products, H1 is a solution type represented by Hi-body. Injectable products achieved revenue of 640 million yuan, accounting for 72.7% of revenue, and gross profit margin of 94.07%, an increase of 0.34 pct over the same period last year; gel injection products, mainly Bonida and Moisturizing Angel, achieved revenue of 240 million yuan, Revenue accounted for 26.8%, and gross profit margin reached 96.05%, an increase of 2.74pct over the same period last year. Gross profit margin continued to increase steadily, and the company's strong product strength remained unchanged. With the interference of the severe epidemic in Q2, the demand for medical beauty has ushered in a strong recovery. The recent feedback from institutions shows that the passenger flow has recovered significantly, and with the advancement of the new domestic medical and beauty supervision policy, more and more non-compliant products are facing clearing, see wisdom The research (public account: Jianzhi Research Pro) believes that the future space for head medical and beauty product manufacturers such as Aimike will be broader in the long run. This article is from Wall Street News, welcome to download the APP to see more
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