Securities code: By-Health Co.Ltd(300146) securities abbreviation: By-Health Co.Ltd(300146) Announcement No.: 2022005 By-Health Co.Ltd(300146)
Annual report for 2021
Disclosure date: March 5, 2022
Chairman's letter to shareholders
Dear By-Health Co.Ltd(300146) shareholders:
In 2021 By-Health Co.Ltd(300146) achieved a sales revenue of 7.431 billion yuan, with a year-on-year increase of 21.93%. Excluding Maiyou company, the comparable growth rate is 15.38%, lower than the budget at the beginning of the year; The net profit attributable to the parent company was 1.754 billion yuan, a year-on-year increase of 15.07%, slightly higher than the budget at the beginning of the year.
Euromonitor data show that in 2021, the total retail scale of China's vitamin and dietary supplement (VDS) industry was 189.2 billion, with a growth rate of about 6.6% By-Health Co.Ltd(300146) shares were 10.3%, ranking first. The second and third market shares were 6.0% and 5.0% respectively. Compared with the previous year, By-Health Co.Ltd(300146) has expanded its leading edge.
In 2021, the per capita consumption of dietary and nutritional supplements in China was US $20, an increase of 6.3%, slightly higher than the global average, about 20% of that in the United States. The change of channel structure in the overall market of the industry is slowing down. The market share of e-commerce and drugstores in 2021 is relatively stable compared with that of the previous year, while the market share of direct sales channels continues to decline.
The scientific research report of China's dietary guidelines (2021) issued by the China Nutrition Association points out that the nutritional status and physical fitness of China's residents have improved significantly, but the level of physical activity has decreased significantly. Overweight, obesity and chronic diseases related to diet are becoming more and more serious. Chronic diseases such as diabetes, high blood pressure, cardiovascular and cerebrovascular diseases are all on the rise. Dietary imbalance has become the main risk factor of chronic diseases. High oil, high salt and high sugar diets are common. In addition, the exclusive breastfeeding rate of infants within 6 months is still far from the target. Although the anemia rate of pregnant women has improved significantly, it is still as high as 13.6%. Some elderly people have insufficient energy or protein intake, and the proportion of insufficient intake of vitamin B1, vitamin B2, folic acid and calcium is higher than 80%.
The policy and regulation system of China's dietary and nutritional supplements industry has been continuously improved, but at present, the regulatory standards of cross-border and domestic, health food and ordinary food are not unified. The rapid rise of new formats such as live e-commerce also puts forward higher requirements for industry self-discipline and supervision. At any time, we should tighten the awareness of red line and bottom line and jointly take care of the young Chinese dietary and nutritional supplement industry. Always remember the basic positioning of dietary nutritional supplements: raw materials are vitamins, minerals, animal and plant extracts, etc; It can balance nutrition intake and regulate the function of human body for specific people; It can not replace normal diet and drugs to treat diseases. Without health, there can be no future.
Honesty is more important than intelligence!
From the beginning of 2021, I began to think about the problems of "quality" and "quantity" in China's consumer goods market in the past two years. Together with the team, I visited a number of consumer goods enterprises, including a considerable number of cutting-edge consumer brands. Each enterprise gave me different inspiration and harvest.
From one thousand people to one thousand people to one thousand people, consumer goods brands are undergoing changes from variety brands to category brands to enterprise brands, that is, from commodity brands to enterprise personal brands. In a sense, brand is "character". The character of the management team should match the brand of consumer goods. The consumer goods industry is also undergoing changes from the era of brand sovereignty to the era of channel sovereignty to the era of consumer sovereignty.
From time to time, various channels see and hear the digital Carnival of "quantity" in all kinds of face, while the "quality" inside is often selectively ignored by all parties and even themselves. What we see may be the truth, but not necessarily the truth. You can see different facts from different angles. You should see with your eyes and listen with your ears, and think with your heart and brain.
The dividend period of China's consumer Internet has passed. "Low price" is one of the core keywords and is regarded by many people as the "most successful" keyword. The mainstream business logic is to quickly realize the accumulation of users driven by capital, and look forward to the successful "harvest" and becoming a unicorn in the later stage. Behind every "lying winner" may be the huge tuition fees paid by countless "lying flat" and "lying down". The flowers are brilliant because there is enough fertilizer. Each participant has to think about a question: why can we become the only flowers left, not the pile of fertilizer
The inner volume of brands in the traffic bottleneck, from "traffic to the top" to "traffic to escape the top", traffic is a "stimulant" or "poison". Indeed, seizing the traffic dividend can be bigger, but only when it can settle down can the brand / user compound interest be stronger. Only those who can cross wave after wave of dividend cycles and even the test of economic cycles can be regarded as excellent consumer goods enterprises. Their core competitiveness must come from internal forces, not external forces.
On November 4, 2021, freestyle skiing champion Gu ailing became the ambassador of By-Health Co.Ltd(300146) yep scientific nutrition brand.
On December 28, 2021, By-Health Co.Ltd(300146) became the supplier of sports food and nutrition for Team China, providing sports food, nutrition and professional nutrition preparation plan for athletes of more than 70 teams of the national team.
On January 1, 2022, By-Health Co.Ltd(300146) jianlido became the official supplier of bone health and nutrition products for the 19th Asian Games in Hangzhou in 2022
