According to the Zhitong Finance App, Urban Beauty (02298) announced the results for the year ended December 31, 2023. The group achieved revenue of 2,757 billion yuan (RMB, same below) during the period; the company's owners should have accounted for 42.483 million yuan in profit during the year, an increase of 28.64% over the previous year; and the basic profit per share was 1.94 points.
2023 is the first year since COVID-19 control was liberalized. It is also a year where challenges and opportunities coexist. The international situation is still complex and serious, and the domestic economy is showing a fluctuating recovery trend. In this context, the Group adheres to the “three original intentions”: good and inexpensive underwear; making every franchisee profitable; making the Group's employees sincerely serve every franchisee and consumer, changing with the times, and actively taking measures in terms of brands, products, channels, digital construction, etc., to enhance overall strength and performance.
In 2023, the Group's gross margin rose to about 47.5% (2022:46.4%), mainly due to continuous improvements in supply chain management, product operation and product planning capabilities, leading to increased product sell-outs and reduced sales discounts.