丸美生物一季度营收同比增长28.01% “双美”战略布局未来可期

Core Viewpoint - Marubi Biological Technology Co., Ltd. has shown strong financial performance in Q1 2024, with significant year-on-year growth in both revenue and net profit, indicating a robust business strategy and market position [1][2]. Financial Performance - In Q1 2024, the company achieved total revenue of 847 million yuan, a year-on-year increase of 28.01%, and a net profit attributable to shareholders of 135 million yuan, up 22.07% [1]. - For the full year 2024, the company projects revenue of 2.97 billion yuan, representing a 33.44% increase, and a net profit of 342 million yuan, which is a 31.69% growth [1]. Brand Strategy - The company is deepening its "big product" strategy for the Marubi brand, focusing on "eye care + wrinkle reduction," with the upgraded peptide eye cream achieving online GMV sales of 533 million yuan, a 146% increase [2]. - The PL brand is enhancing user engagement through product innovation, launching summer products tailored for specific skin needs, and achieving over 100 million yuan in GMV sales for a limited series [2]. Market Trends - The Chinese beauty industry is experiencing rapid growth, with increasing competition and diverse consumer demands, necessitating higher quality and value-added products [2]. - The market for recombinant collagen products is projected to grow from 18.5 billion yuan in 2022 to 108.3 billion yuan by 2027, with a compound annual growth rate of 42.4% [3]. Technological Advancements - The company emphasizes biotechnology as a crucial aspect of its current and future operations, particularly in the development of functional proteins and recombinant collagen technology [3]. - Marubi has transitioned from being a "whistleblower" to a standard setter in the industry, reflecting its leadership role in formulating national standards for recombinant collagen [2]. Investment Strategy - The company has established multiple investment funds targeting the beauty and medical aesthetics industries, aligning with its "dual beauty" strategy [3]. - Analysts note that Marubi has successfully restructured its products and channels, with upward brand momentum and significant growth potential in its flagship products [3].