Bloomage BioTech Announced 2016 Annual Results
Revenue Up 29.7% to RMB844.4 million
Sustainable Growth through Continuous Technological Innovation and Integrated Medical Aesthetic Solutions Strategy
|Gross profit amounted to RMB592.4 million, representing an increase of 21.6% year on year
EBITDA (excluding share of profits less losses of associates and share of loss of a joint venture) increased by 24.9% to RMB363.4 million
Profit attributable to shareholders of the Company increased by 19.8% to RMB228.1 million
The Board recommends a final dividend of HK$3.1 cents per share, representing an increase of 14.8% year on year
(Hong Kong, 23 March 2017) Bloomage BioTechnology Corporation Limited ("Bloomage" or the "Company", and together with its subsidiaries, "the Group"; Stock Code: 00963.HK) is pleased to announce its annual results for the year ended 31 December 2016 (the "Year"). Revenue increased by 29.7% to RMB844.4 million and profit attributable to shareholders of the Company increased to RMB228.1 million, up 19.8% year on year.
CEO of the Group, Mr. Jin Xuekun commented, "The Group has undergone its first transformation from an HA raw material producer to a vertically-integrated HA end products supplier since 2012 after launching its first HA end product - BioHyalux dermal filler to take first mover advantage in the booming Chinese medical aesthetic market. The market is still under a rapid growing stage, however with intensified competition. Thanks to our integrated solutions strategy by providing product combos which cater for all-rounded medical aesthetic needs with various lengths of consumption cycle to our institutional clients, helping them better retain customers and facilitating them explore more sales potential from existing ones, thus, the Group maintained strong growth momentum in the competitive medical aesthetic market. Meanwhile, sustainable growth of our HA raw material business remained, with increasing sales attributable to overseas market and multinational pharmaceutical companies. Thanks to the concerted efforts by our employees and our swift reaction to the changing market conditions, the Group delivered solid results in 2016."
During the Year, the Group's raw material business continued to grow steadily, recording sales of RMB458.0 million in 2016, representing an increase of 15.4% year-on-year. The Group obtained Russian registration certificate and CEP registration certificates for two medical-grade products with new specifications, and product registrations in India and Korea were in solid progress. We have also established our second overseas business development office in Japan after the US office, representing an important step towards the strategic plan of business globalization. During the Year, two new products with double moisturizing effect were launched, including Hyafactor(TM)-PGA and Hymagic(TM)-AcHA, for the use in personal care products and skincare products respectively. The Group is committed to technological innovations and persisted to leverage on its professional fermentation technology platform to develop HA derivatives and non-HA products to diversify its product portfolio, and strive to maintain its leading market share in the world's HA raw material market.
During the Year, the Group's end product business recorded revenue of RMB294.8 million, increased by 21.1% compared with last year. A new HA filler containing anesthetic ingredient was launched in the last quarter of 2016, namely Dermallure(TM). The new product targets mid to high-end consumers who seek for more comfortable injection experience with high shaping quality. Promotion and product education amongst medical aesthetic institutions and doctors are in progress. As of the end of 2016, the Group covered more than 1,000 institutional clients in China. With the refinement and improvement in the laws and regulations of the medical aesthetic industry, and the implementation of policy allowing medical doctors to practice in multiple locations, it is expected that demands for regulated small to medium-sized medical aesthetic institutions will surge. We will deploy more efforts to develop 2nd-tier and 3rd-tier cities as well as small to medium-sized clients, at the same time providing key customers with more customized and comprehensive services and support.
"R&D and technological innovation have been the most significant drivers of our growth. In 2016, several products including HA dermal fillers, Bio-MESO products and surgical products have obtained different milestone results in respect of technology development, clinical trial and product filing, it is expected that it will provide beneficial support to our future business expansion. "Mr. Jin added.
As we look ahead, we will continue to be customer-oriented and satisfy the demand of customers at multi-level. Leveraging on the premium French laboratories that we acquired, including Vivacy and Revitacare, as well as our domestic HA end product series and other aesthetic devices, we will continue to expand our multi-products, multi-brands and multi-channels platform to provide integrated medical aesthetic solutions to our clients, and create more values for the shareholders of the company.
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About Bloomage BioTechnology Corporation Limited
Bloomage BioTechnology (Stock Code: 00963.HK) is the world's largest Hyaluronic Acid (HA) raw material manufacturer. It started to integrate vertically by providing diversified medical aesthetic end products and services to its institutional partners and customers since 2012 and quickly became a leading HA end products manufacturer in China. It acquired two premium French brands with leading position in the medical aesthetic arena to enrich its technological know-hows and product portfolio. With the full value chain coverage, Bloomage aims at becoming a leading integrated medical aesthetic solutions provider.
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