According to Zhitong Finance App News, Jia Biyou (688089.SH) released the 2023 annual performance report, with total operating revenue of 445 million yuan, up 2.78% year on year; net profit attributable to owners of the parent company was 91.56 million yuan, up 42.17% year on year; net profit attributable to owners of the parent company after deducting non-recurring profit and loss was 68.204 million yuan, up 121.88% year on year; basic earnings per share were 0.54 yuan.
During the reporting period, new national standards for infant formula were implemented, and increased demand led to an increase in revenue for the company's ARA and DHA products. The company's net profit in 2023 increased significantly compared to the same period of the previous year, mainly due to the combined impact of major factors such as the increase in gross profit during the same period of the previous year due to long-term equity investments, accounts receivable and prepaid accounts accruing impairment preparations related to the participating company Famaco, the reversal of share payment fees, and the increase in revenue.