The Zhitong Finance App learned that “National Underwear” Urban Beauty (02298) announced that it has officially become an official partner of the China National Figure Swimming Team, which will help Chinese athletes shine at the World Championships and shine on the world stage.
According to reports, the FINA World Championships will be held from February 2 to 18 in Doha, Qatar. This year's World Championships are not only the first Nagaike World Championships to be held in the Olympic year, but also the first time they will be held in winter. At the 2023 Fukuoka World Championships, the Chinese Flower Tour team achieved an excellent result of 3 gold, 1 silver and 1 bronze; it is exciting to see if the Chinese Flower Tour team, which participated in all events, can achieve another good result.
As a leading national underwear brand, Doshi Beauty is one of the earliest underwear brands established, leading the country in cumulative sales. As a participant in the formulation of Chinese underwear industry standards, Dushi Beauty has thoroughly studied the breast shape changes and needs of women of different ages, and has obtained a total of 521 patents to provide comfortable and stylish professional underwear for women of all ages and scenes, and has won the favor of over 62 million women. This time, helping the Chinese National Figure Swimming Team participate in the Doha Swimming World Championships is in line with its brand positioning and is expected to further raise public awareness.
It is worth noting that, far from the pool circuit, as a national underwear brand with leading sales volume, Urban Beauty launched the “100 Cities and 1000 Stores” campaign in 2022, and there were frequent reports last year. Anhui, Guangdong, Inner Mongolia, Sichuan, Fujian, Hunan, Jiangsu and other provinces have already opened 100 stores. In 2023, Urban Beauty has opened a total of 810 new stores.
Financial reports also positively confirm the viability of “100 Cities and 1000 Stores”. In the first half of 2023, Urban Beauty achieved revenue of 1,368 billion yuan and net profit attributable to the parent company of 26.129 million yuan, an increase of 158% over the previous year, and gross margin rose to about 47.4% from 46.6% in the same period in 2022.
According to a previous research report by CICC, Urban Beauty began a comprehensive transformation in 2022, including establishing the national underwear position and creating professional cost-effective products. The number of offline stores opened on the channel side has reached a record high, and profitability and operating capacity have improved markedly on the financial reporting side. The bank is optimistic about the company's determination and results to continue to push forward strategic changes.
At the same time, Urban Beauty executives are also firmly optimistic about the company's prospects. According to the latest data from the Hong Kong Stock Exchange, since the end of last year, Urban Beauty Executive Director Wu Xiaoli (Chairman and CEO Zheng Yaonan's spouse) has increased her holdings of the company 10 times, increasing her holdings by more than 2.16 million shares.