The downturn in the consumer market is gradually showing.

On October 25, the three-quarter report released by Imeke (300896.SZ) showed that revenue and net profit for the first three quarters of 2023 were 2.170 billion yuan and 1,418 billion yuan respectively, up 45.71% and 43.74% year-on-year respectively.

Excluding data for the first half of 2023, Imex's revenue and net profit for the third quarter of this year were 711 million yuan and 455 million yuan respectively, up 17.58% and 13.27% year-on-year respectively. This growth rate declined by 37.57 percentage points and 28.28 percentage points, respectively, from the third quarter of 2022.

In response, Aimeike explained to TradeWind01 (ID: TradeWind01) that, on the one hand, it is the reason for the off-season of medical and aesthetic medicine. The recovery of medical and aesthetic treatment in hot weather is slow, so terminal sales data performance is average; on the other hand, the year-on-year slowdown in revenue growth was mainly affected by the high revenue base in the 3rd quarter of last year, and demand was released after the epidemic prevention and control was relaxed in the 3rd quarter of last year, so the results for the 3rd quarter of last year were the highest in the year.

“In July 2022, due to the release of backlog demand in some regions after the blockade was lifted, July, which was originally an off-season, reached the second highest monthly sales last year, putting pressure on this year's growth.” Cinda Securities also pointed out in the research report.

According to the data, this is true. Imeke's revenue and profit for the third quarter of 2022 reached 605 million yuan and 401 million yuan respectively, far exceeding revenue of around 400 million yuan and profit of about 300 million yuan in other quarters of that year, with year-on-year increases of 55.15% and 41.55%, respectively.

However, the key factor in the slowdown in performance growth may still point to a downturn in the consumer market.

“We think it is mainly because the overall recovery in domestic consumption is lower than expected, and medical and aesthetic consumption is still being affected.” Yuan Wei, a medical analyst at Guojin Securities, pointed out.

Aimeike is not an exception to the slowdown in growth. “First stock of medical and aesthetic mask” Shierjia (301371.SZ)'s revenue and net profit for the third quarter of 2023 were 471 million yuan and 183 million yuan respectively, down 5.47% and 37.26% from the previous year, respectively.

Although the external environment is full of challenges, and it is not easy to maintain high growth under a high base, Imeke's performance growth rate in the third quarter was indeed slightly lower than that of its peers.

In the third quarter of 2023, East China Pharmaceutical (000963.SZ)'s medical and aesthetic business generated 650 million yuan in revenue, an increase of 37.42% over the previous year, and the growth rate was 19.84 percentage points higher than that of Aimei customers.

The performance that did not meet expectations triggered changes in Imeke's stock price, which closed down 11.35% in the afternoon on October 25.

With the advent of shopping festivals such as Double Eleven and Double 12 in the fourth quarter, the market is waiting to see if the performance growth rate of American customers will pick up.