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.