Shanghai Oriental Century Consumer Goods Development Promotion Center (hereinafter referred to as "Oriental FMCG Center") and the industry-leading all-media - "FMCG" summarized the 2023 performance of more than 420 FMCG-related companies listed on the Shanghai Stock Exchange, Shenzhen Stock Exchange, Hong Kong Stock Exchange and Beijing Stock Exchange, ranked by category and through the main business indicator - operating income, and announced the "2023 Top List of Listed FMCG Listed Companies in Segments". This time, "FMCG" will bring: 2023 China's top 10 FMCG listed companies' distributors/agency operations. Among the top 10 dealers/listed companies, their total revenue in 2023 will be 124.629 billion yuan, and their total net profit will be 345 million yuan.
2023 Top 15 Distributors/Agents of China's FMCG Listed Companies
Source: Oriental FMCG Centre
Note: The exchange rate refers to the central parity of the RMB exchange rate in the interbank foreign exchange market on December 29, 2023 published by the China Foreign Exchange Trade System
01
Eternal Asia(002183. SZ）
Eternal Asia(002183. SZ) will achieve revenue of 94.42 billion yuan in 2023, a year-on-year increase of 10.57%, and a net profit of 141 million yuan, a year-on-year decrease of 44.95%. Ranked first in the list of "Top 10 FMCG Distributors/Agency Operations in China in 2023". Regarding the phenomenon of increasing revenue but not increasing profits, the secretary of the board of directors of Eternal Asia once said on the interactive platform that this is mainly due to the rapid growth of the company's distribution + marketing industrial chain supply chain service business and cross-border and logistics service business. Eternal Asia is based on the model of "supply chain + industrial chain + incubator", focusing on three major tracks: big consumption, new energy and big technology. In the future, Eternal Asia will extend the relevant industrial chain at the value chain level, integrate resources to build a full-chain industrial ecological layout, obtain higher value-added profit margins, further enhance the profitability and market competitiveness of enterprises, and find the "second growth curve". The chairman of Eternal Asia is Zhou Guohui, and the vice chairman is Chen Weimin.
02
Huazhi Liquor Store (300755. SZ）
Huazhi Liquor Store (300755. SZ) will achieve revenue of 10.12 billion yuan in 2023, a year-on-year increase of 16.2%; The net operating profit was 240 million yuan, down 35.8% year-on-year. Ranked second in the "Top 10 Chinese FMCG Distributors/Agency Operations in 2023". The main reason for the decline in net profit was that the gross profit margin of the company's main sales product, liquor, had fluctuated for a short time. Affected by the macro economy, the consumer market continues to recover, but the competition in the end market is becoming more and more fierce. In addition, the annual report also mentions that in 2024, Huazhi Liquor Store will seize new opportunities in the industry, create a new situation for the enterprise, build a solid brand credit foundation with a fidelity system and strict management, continue to enhance the stickiness of the upstream and downstream of the industrial chain, seize the opportunity to expand the omni-channel sales network, do a good job in the in-depth cooperation with well-known domestic and foreign wine companies, down to the refined services of terminal outlets and consumers, and gradually promote the store 3.0 upgrade plan, vigorously develop high-quality flagship stores in the core government affairs and business circles of first- and second-tier key cities, and highlight the "strong experience" The immersive consumption form takes Huazhi Liquor Store 3.0 stores as the benchmark to create a new landmark of diversified experiential liquor consumption. The current CEO of Huazhi Liquor Store is Peng Yuqing.
03
Baozun E-commerce (09991.HK) HK）
Baozun E-commerce (09991.HK) HK) will achieve revenue of 8.812 billion yuan in 2023, up 4.9% year-on-year; Net profit was -278 million, up 57.38% year-on-year, and the net loss narrowed significantly. Ranked third in the "Top 10 FMCG Distributors/Agency Operations in China in 2023". The increase was mainly due to a 65.6% increase in sales revenue of products managed by the Baozun brand compared to the same period last year. Baozun actively explores omni-channel practices, works with partners to build an omni-channel business ecosystem, and formulates differentiated market strategies. In 2023, Baozun will develop more than 50 new brand partners. It can be learned from the annual report that Baozun is also actively exploring the extension of the business model of platforms such as Vipshop, Xiaohongshu, Dewu and Kuaishou. In terms of category extension, in 2024, Baozun will actively deploy breakthroughs in categories such as alcoholic beverages, beauty and health, and high-end automobiles. The CEO of Baozun e-commerce is Qiu Wenbin.
04
丽人丽妆(605136,SH)
Beauty Beauty (605136, SH) will achieve revenue of 2.762 billion yuan in 2023, a year-on-year decrease of 14.78%; net profit was 30 million, up 121.19% year-on-year. Ranked fourth in the "Top 10 FMCG Distributors/Agency Operations in China in 2023". The increase in profit of Beauty Beauty is mainly due to factors such as the change of operation mode between enterprises and some brands, the reduction of inventory scale, and the reduction of asset impairment losses. In addition, the main reason for the decline in revenue was due to the new situation and new challenges in consumer demand. Compared to the same period last year, the private label was progressing smoothly, the inventory structure was improved and the overall expenses were under control. The annual report also stated that in 2023, Beauty Beauty has made some progress in the incubation of its own brands and the expansion of emerging channels. The operating income of the self-owned brands incubated by Beauty Beauty has increased by more than 40% over the same period of the previous year, and some brands are stepping up research and development of new products and expanding new categories to lay the foundation for future expansion. As of the end of the reporting period, the operating income from emerging channels accounted for more than 15% of the company's overall operating income, and the number of Douyin stores increased steadily. The CEO of Beauty Beauty is Huang Tao.
05
Qingdao Jinwang (002094. SZ）
Qingdao Jinwang (002094. SZ) will achieve revenue of 2.509 billion yuan in 2023, a year-on-year decrease of 14.99%; net profit was 100 million yuan, a year-on-year increase of 101.29%. Ranked fifth in the "Top 10 FMCG Distributors/Agency Operations in China in 2023". In the annual report, Qingdao Kingking said that the main raw material in the company's supply and demand relationship is paraffin, a petroleum by-product. Fluctuations in paraffin wax prices and domestic monopoly supply are still one of the main unfavorable factors affecting the company's operating results. In recent years, the price of the company's main raw materials has continued to fluctuate with the changes in commodity prices, which has a direct impact on the profits of the company's products. In addition, in 2023, there will still be labor shortages in domestic and foreign production bases to varying degrees, and labor costs will also increase year by year. In the annual report, Qingdao Jinwang said that the company's pharmaceutical industry conforms to the changes of the times, actively carries out informatization, digitalization and intelligent transformation and upgrading, and continuously improves the company's production and operation efficiency, operation efficiency and management level, reduces costs and improves operation processes through big data analysis, artificial intelligence, intelligent transformation and upgrading. The chairman of Qingdao Kingking is Chen Suobin.
06
Youquhui (02177.HK)
Youquhui (02177.HK) will achieve revenue of 1.736 billion yuan in 2023, a year-on-year decrease of 27%. 03%； net profit -18 million yuan, a year-on-year increase of 84.55%. Ranked sixth in the "Top 10 FMCG Distributors/Agency Operations in China in 2023". In the financial report, Youquhui said that the group continued to significantly reduce inventory, so that the capital adequacy reached a historically good level, and it has a healthier asset structure. In addition, in 2023, Youquhui will continue to sort out brands, channels and businesses, terminate some unprofitable businesses, and further optimize the cooperation conditions with brands. In 2023, sales and marketing expenses decreased by 48.8% year-on-year, and financial costs decreased by 30.5% year-on-year. Youquhui Holdings Co., Ltd. is a leading brand e-commerce operation service provider in China, focusing on beauty products, adult personal care, baby personal care, health products, daily necessities and other fields, and has established long-term cooperative relations with many internationally renowned brands. The chairman and general manager of Youquhui is Wang Yong.
07
Omi Wakaba (003010. SZ）
Ruo Yuchen (003010. SZ) will achieve revenue of 1.37 billion in 2023, a year-on-year increase of 12.3%; net profit was 50 million, a year-on-year increase of 60.9%. Ranked seventh in the "2023 Top 10 FMCG Distributors/Agency Operators in China". The profit growth was due to the healthy growth of Ruoyuchen's multi-channel and agency operation business. According to the financial report, in 2023, according to the scope and source of brand authorization, Ruoyuchen's business will be divided into brand management business, private brand business and agency operation business. Among them, the brand management business has made breakthrough progress, and the operating income has reached 160 million yuan. The operating income of its own brand was 260 million yuan, a significant increase of 63.63% year-on-year, accounting for 19.27% of the company's total operating income, and it continued to maintain the common growth of revenue and profit. The company will continue to maintain a good growth momentum. As a leading global consumer goods brand digital management company in China, Ruoyuchen has a business radius of more than 30 countries and regions around the world, providing high-quality digital services for more than 100 well-known international and domestic enterprises and brands such as Procter & Gamble, Bayer, Johnson & Johnson, Sanofi, etc., and has become a close partner for the business growth of many consumer goods brands around the world. Ruo Yuchen's chairman is Wang Yu.
08
One Network One Creation (300792. SZ）
One Network One Creation (300792. SZ) will achieve revenue of 1.29 billion in 2023, a year-on-year decrease of 16.3%; The net profit was 110 million, down 40.1% year-on-year. Ranked eighth in the "2023 Top 10 FMCG Distributors/Agency Operators in China". The main reason for the decline in profits is that OneNet is in the process of clearing inventory. During the reporting period, the annual report of OneNet stated that in response to the expansion of the online market and the needs of young consumers, the company not only provided basic services for brands, but also provided product design and planning services to meet the needs of the rapid and changeable online sales environment and provide timely co-creation and back-up support. At present, it has reached long-term and in-depth e-commerce cooperation with Procter & Gamble, Shiseido, Amore, H&H, Budweiser, Yili, Mao Geping and other Fortune 500 companies and well-known enterprises at home and abroad, with a total of nearly 100 brands. The chairman of the board of directors of One Network is Lin Zhenyu.
09
Aoki Co., Ltd. (301110.HK) SZ）
Aoki Co., Ltd. (301110.HK) SZ) will achieve revenue of 970 million in 2023, a year-on-year increase of 14.3%; net profit was 50 million, down 21% year-on-year. Ranked ninth in the "2023 China's Top 10 FMCG Distributors/Agency Operations". The reason for the decline in profits is mainly due to Aoki's heavy reliance on agency operation business and small volume of value-added business. Aoki Technology Co., Ltd. (formerly known as Aoki Digital Technology Co., Ltd.) is a company that provides one-stop integrated retail service solutions. Aoki Technology Co., Ltd.'s annual report said that during 2023, the revenue of e-commerce agency operation services increased by 22.88%, mainly benefiting from the recovery of outdoor activities after the improvement of macro environmental factors, the recovery of sportswear and luggage consumption, and the year-on-year increase in the performance of related categories; The retail sales of e-commerce channels increased by 22.90% year-on-year, mainly due to the growth of e-commerce retail performance of projects such as Cumlaudelab, a joint venture incubated by the company. The channel distribution business decreased by 16.23% year-on-year, mainly due to the decline in performance caused by the transfer of profits to distribution channels such as pet food Nulo to clear inventory. On July 6, 2024, according to public information, Aoki Digital Technology Co., Ltd. underwent industrial and commercial changes, and the company's registered capital changed from 66.66 million yuan (RMB) yuan to 93.1 million yuan (RMB). On July 5, the company name was changed from "Aoki Digital Technology Co., Ltd." to "Aoki Technology Co., Ltd." The chairman of Aoki Technology Co., Ltd. is Lv Bin.
10
Kaichun shares (301001. SZ）
Kaichun shares (301001. SZ) will achieve revenue of 640 million in 2023, a year-on-year decrease of 16.5%, and a net profit of 10 million, a year-on-year increase of 218.7%. Ranked 10th in the "Top 10 FMCG Distributors/Agency Operations in China in 2023". The reason for the increase in profits is that Kaichun shares have cooperated with well-known brands at home and abroad to broaden the business development space. In the 2023 financial report, Kaichun shares said that it will use the exclusive private domain traffic pool, the brand can establish a closer connection with users, carry out accurate and efficient reach and conversion, after realizing the precipitation of the private domain, using the DTC model, the brand can obtain the needs and pain points of users with high frequency and accuracy, and then enhance the interaction and stickiness with users through personalized product recommendations, customized services and exclusive discounts. The chairman of Shanghai Kaichun Industrial Co., Ltd. is Wang Li.