On February 20th, BY-HEALTH announced its 2023 annual performance report, revealing a simultaneous increase in revenue and net profit. During the reporting period, benefiting from the increased awareness of national health, which drove growth in demand for various product categories, BY-HEALTH achieved a total operating income of RMB 9.407 billion yuan (USD $1.31 billion) in 2023, with a year-on-year increase of 19.66%. The net profit attributable to shareholders of the listed company reached RMB 1.746 billion yuan (USD $240 million), showing a year-on-year increase of 26.00%. Several of BY-HEALTH’s subsidiary brands demonstrated impressive growth: the main brand “BY-HEALTH” achieved a 30.38% year-on-year increase; “Life-Space” increased by 51.96% year-on-year; and the overseas business LSG grew by 34.27% year-on-year. Meanwhile, the company has raised the performance assessment targets for its stock incentive plan, aiming to achieve RMB 10.1 billion yuan (USD $1.40 billion) in 2024. (Source: shuzhengkangxun)
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