THE WHAT? Beauty Farm Medical and Health Industry Inc., a leading provider of beauty and wellness services in China, has released its annual financial results for the year ending December 31, 2023, highlighting a 31.2% increase in revenue and a 108.2% surge in net profit. The company also announced the acquisition of Naturade, aiming to enhance its market position and product offerings.
THE DETAILS The company attributes its financial success to the “Dual-Beauty” business model, which has driven growth in both its Beauty and Wellness Services and Aesthetic Medical Services amidst a challenging economic environment. This model has facilitated the expansion of Beauty Farm’s brand influence, diversified services, and increased revenue from high-margin business sectors.
THE WHY? Beauty Farm’s strategic acquisition of Naturade is expected to consolidate its leadership in the market and expand its active member base and market share. This move aligns with the company’s growth strategy of internal expansion and external acquisitions, further strengthening its position in the beauty and wellness industry through the “Tri-Beauty Model” and enhancing regional coverage and service offerings.
Clinical aesthetics products refer to a category of products used in the field of medical aesthetics or cosmetic dermatology. These products are typically designed and formulated to be used under the supervision of healthcare professionals, such as dermatologists, plastic surgeons, or trained aestheticians. They are distinct from over-the-counter cosmetics in that they often contain active ingredients or formulations that require expertise in their application or administration.
Examples of clinical aesthetics products include:
-
Dermal Fillers: Injectable substances used to add volume, smooth wrinkles, and enhance facial contours. Examples include hyaluronic acid fillers like Juvederm and Restylane.
-
Botulinum Toxin (Botox): Injectables that temporarily paralyze facial muscles to reduce the appearance of wrinkles caused by repetitive movements, such as frown lines and crow's feet.
-
Chemical Peels: Solutions applied to the skin to exfoliate and improve its texture. They can treat acne, pigmentation issues, and signs of aging.
-
Laser and Light Therapies: Devices that emit focused light or laser energy to treat various skin conditions, including acne, scars, and signs of aging.
-
Prescription Skincare Products: Formulations containing active ingredients like retinoids (vitamin A derivatives), hydroquinone, or prescription-strength antioxidants to address specific skin concerns under medical supervision.
