Glonghui, March 27 | Urban Beauty released the 2023 annual performance report, showing that in 2023, Dushi Beauty's profit continued to grow, with revenue of 2.76 billion yuan, net profit of 42.483 million yuan, up 29% year on year, and gross margin increased by about 1%; net cash inflow from operating activities rose from about 231 million yuan in 2022 to about RMB 383 million for the full year of 2023; inventory costs decreased by 300 million yuan compared to the beginning of the period. Urban Beauty joined or co-operated 826 new stores in 2023, an increase of 71% over the previous year, and the number of stores nationwide exceeded 4,300. Urban Beauty continues to advance the 100 Cities and Thousand Stores campaign. Combined with the “1+N+ Special” model, Urban Beauty plans to join or co-operate 1,000 new stores in 2024, and the target number of new directly-managed stores is about 100. Urban Beauty successfully signed 706 new stores at the 2024 Spring Investment Fair, and the pace of urban beauty store expansion continues to accelerate. With the continuous improvement of the offline channel layout of Urban Beauty, it is beneficial to increase customer traffic for the brand and bring more revenue to Urban Beauty.