By-health(SZ:300146)2024-06-19 09:28Group 1: Industry Outlook - The domestic dietary supplement industry has significant growth potential, driven by per capita consumption, penetration rates, aging population trends, and health policies [2] - In 2023, the online channel accounted for 56% of the vitamin and dietary supplement industry sales, making it the primary sales channel [3] Group 2: Product Development - The company plans to upgrade two main products, protein powder and Jianli Duo, which will be launched throughout the year [2] - The company remains optimistic about the probiotics segment and the lifespace brand, focusing on it as a key category this year [3] Group 3: Financial Performance - The cumulative cash dividend amount since the company's listing exceeds 70% of the net profit attributable to shareholders [3] - The sales expense ratio for 2023 is comparable to 2022, with an increase attributed to the company's multi-brand, all-channel, and all-category strategy [2] Group 4: Sales Strategy - The company is expanding its overseas presence primarily through the lifespace brand, targeting multiple Southeast Asian countries [2] - The increase in sales expenses is due to the growth of pharmacy, drugstore channels, and both cross-border and local e-commerce channels, which are still relatively small [2]