In the first quarter of 2022, BY-HEALTH achieved operating revenue of RMB 2.280 billion yuan (USD $340 million), up 2.60% year-on-year, but the net profit attributable to shareholders of the listed company was RMB 663 million yuan (USD $99.45 million), down 18.78% year-on-year. “The company’s domestic business was under pressure due to the impact of COVID pandemic prevention and control,” said BY-HEALTH.
Moreover, in the first quarter, offline revenue, which accounts for nearly 80% of BY-HEALTH’s domestic business, declined 0.94% year-over-year, while online revenue, which used to drive growth, also declined 10.65% year-over-year. BY-HEALTH analyzed that the competitive landscape and traffic ecology of online platforms have changed, and thus the decline of the company’s B2B distribution business has dragged down the overall online performance. (Source: shuzhengkangxun)
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