Shunho 2023 Annual Performance: Revenue Increase and Yilong Brand Expansion

Business by 2FIRSTS.ai

Apr.30.2024

Shunho Share releases annual report: 2023 revenue up 1.01% to 1.425 billion yuan, net profit up 147.41% to 28.4 million yuan.

On April 30th, Shunho Co., Ltd. (SZ002565) released its annual performance report, stating that its operating income in 2023 was approximately 1.425 billion yuan, an increase of 1.01% year-on-year. The net profit attributable to shareholders of the listed company was approximately 28.4 million yuan, an increase of 147.41% year-on-year.

2023 Annual Report | Image Source: Shunho Corporation

Shunho Group has announced that its subsidiary Shunho Yilong holds the rights for the pod brand (domestic sales), e-cigarette accessories brand (domestic sales), and the combination of pod and smoking accessories brand sales (domestic sales). The brand is named "Yilong". During the reporting period, the "Yilong" brand e-cigarette products from Shunho Yilong have successfully launched in some retail stores in Beijing, Shenzhen, and Shanghai. The company plans to continue promoting the "Yilong" products in more regions in the future.

As of now, the subsidiary Green New Peak has obtained the Tobacco Wholesale Production Enterprise License for the e-cigarette processing enterprise. The participating company Mei Zhong Lian has obtained the Tobacco Wholesale Production Enterprise License for the e-cigarette production enterprise. The company's subsidiary Shunho Yilong has obtained the Tobacco Wholesale Production Enterprise License for the e-cigarette brand holding enterprise for domestic sales.

Shunho Corporation stated that, while ensuring the steady development of its environmentally friendly packaging new materials and printing businesses, the company is actively researching and developing new types of tobacco compliance products in accordance with policy requirements. It is also concentrating resources on applying for e-cigarette licenses and continuously conducting research and development investments in industrial hemp new technologies, new products, and overall plant applications. This has enabled the company to transition from a single manufacturing industry to a diversified, multi-industry chain expansion, achieving a new development pattern.

References:

[1] 顺灏股份:2023年年度报告

Also Read:

[1] Shunho Group: Cooperation with China Tobacco Subsidiaries on HNB

[2] Shunhao Shares Response to Legalization of Cannabis in Europe

[3] Shunho Holdings' Disposable Global Sales and Brand Ownership

[4] Shunhao Shares Reports 15.03% Revenue Drop in H1 2023

#Asia #China #Pod system e-cigarettes #Products #Major companies

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