Financial Associated Press, October 24 (Reporter Lu Tingting)Benefiting from the increase in market demand for many categories of products brought about by increased national health awareness, Tomson Bei Jian (300146.SZ) achieved rapid growth in domestic and foreign income in the first three quarters. Reflected in the performance, the company's net profit from January to September this year has exceeded that of last year. It is worth noting that the overall channel structure of the VDS (dietary nutritional supplements) industry tends to be stable, especially for Tomson Baijian, the increment brought by online channels is particularly significant.

According to the third quarterly report disclosed by Tomson Baijian this evening, Q3's single-quarter revenue was 2.186 billion yuan, up 12.75% from the same period last year, while the net profit from its mother was 356 million yuan, down 17.96% from the same period last year. The company explained that the increase in income in the third quarter was mainly due to the increase in investment in brand construction and the impact of non-recurrent profit and loss.

In the first three quarters, the company achieved revenue of 7.782 billion yuan, an increase of 26.34% over the same period last year, and a net profit of 1.901 billion yuan, an increase of 28.28% over the same period last year. Among them, the net profit has exceeded that of the whole of last year (the company's return net profit in 2022 was 1.386 billion yuan. )

In terms of products, the revenue of the main brand "Tomson Baijian" in the first three quarters was 4.511 billion yuan, an increase of 30.38% over the same period last year; the revenue of the "Jianliduo" brand was 996 million yuan, down 1.83% from the same period last year; the revenue of domestic products of "Life-Space" was 384 million yuan, an increase of 51.96% over the same period last year; and the operating income of overseas business LSG was 774 million yuan, an increase of 34.27% over the same period last year.

According to Zhongkang CMH+ retail drugstore data, protein powder, probiotics, vitamin C and other immune-related products continued to grow from January to August compared with the same period last year, but gradually fell back in the third quarter as consumer demand was released in the first quarter. While many other categories declined significantly, joint care and vitamin E declined significantly in the first three quarters compared with the same period last year, while probiotics, vitamin C, eye care, calcium and other categories also declined in August.

The reporter learned from Tomson Baijian that the growth of the company's various categories in the drugstore channel is basically consistent with the market. Among them, protein powder and probiotics increased by 30.7% and 9.7% from January to August, while liver protection, cardio-cerebrovascular and eye care products increased by 49.3%, 14.6% and 7% respectively, but joint care and multi-dimension decreased compared with the same period last year.

From the perspective of channels, it is understood that in recent years, the growth of offline channels in China's VDS industry has slowed down, with online channels accounting for more than 40%, and changes in channel structure tend to be stable.

Tomson Beijian revealed that the company's offline channel revenue accounted for about 63.20% of domestic revenue in the first three quarters, an increase of 16.39% over the same period last year, but online channel revenue increased by 41.09% over the same period last year, of which Douyin, an interested e-commerce platform, grew by nearly 200%.

With regard to the "variables" brought about by the changes in the channel structure to the industry, Tang Chen Baijian said in the investor research activity that the change in the channel structure of China's VDS industry slowed down in 2022, and the market share of both online and drugstores was basically stable compared with the previous year. Based on the changes in consumer shopping habits and catalyst methods, it is expected that the proportion of online channels is still on the rise in the future.