On August 5, BYHEALTH released its semi-annual performance report in 2022.The report shows that BYHEALTH boasted an operating revenue of RMB 4.221 billion in the first half of 2022, basically the same level as the year before.

Achieving Resilient Development despite Market Pressure in the First Half of the Year

During the reporting period, sales at brick-and-mortar stores was continuously affected by the COVID-19 pandemic. However, BYHEALTH maintained brand and product strengths despite the pressure. Thanks to the penetration of the main brands and hero products, BYHEALTH remained No. 1 in terms of market share.

The performance of Life-Space was impressive. The revenue from sales of Life-Space products in China was RMB 177 million, a year-on-year growth of 49.69%. The overseas operating revenue of Life-Space Group Pty Ltd (LSG) was AUD 81 million, a year-on-year growth of 32.69%. Therefore, the Life-Space brand maintained stable growth in the overseas market and was the best-selling probiotic product, further enhancing its professional image. In the first half of the year, Life-Space invested more in its brand development by expanding its global channels and focusing on cross-border E-commerce channels. With the continuous growth in cross-border E-commerce channels, the market share of the brand embraced a gradual increase. The Company maintained bullish on the probiotic supplements - a new growth driver of operating revenue for BYHEALTH.

In brand image improvement, BYHEALTH continues to empower sports with scientific nutrition. After becoming Sports Food and Nutrition Supplier of TEAM CHINA in 2021, BYHEALTH signed agreements with a number of national teams in 2022 to provide scientific nutrition support for athletes. Meanwhile, the sub-brand “KEYLID” became the Official Supplier of Bone & Joint Health Supplements for the Hangzhou Asian Games. 

Developing the Strategy of “Transforming into an Enterprise with Strong Technology” with a Focus on Building Product Power with “Hard Technology”

In 2022, BYHEALTH put forward the of “transforming into an enterprise with strong technology”, with a focus on building product power with “hard technology” and science and technology competitiveness. In terms of scientific research results, after launching the first conceptual product of personalized vitamins and discovering the anti-aging compound PCC1 in specific grape seed extract with professional research institutes in 2021, BYHEALTH published a series of prospective basic research results on anti-aging including the world’s first* study of association of NAD+ contents with the aging of Chinese people and female NAD+ level related study, providing new thoughts on NAD+ and aging study. In the future, BYHEALTH will conduct researches in more dimensions to enable comprehensive evalsuation on anti-aging and personalized nutritional intervention.

In 2022, the Company integrated R&D resources and established BYHEALTH Nutrition and Health Research Institute that consists of Technology Center, Shanghai Research Center, and AI Nutrition Research Center. The Company continued its "science-based nutrition" strategy, accelerated the empowerment of innovation and core technical competence, developed raw materials and products with independent intellectual property rights, and constructed the product differentiation barrier. In terms of new technical standards, BYHEALTH participated in the development of the T/CNHFA 006-2022 Grading Specification for Probiotic Viable Rate in Probiotic Foods, a standard that has been officially released. According to Zhang Xuguang, Executive President of BYHEALTH Nutrition and Health Research Institute, the Company has invested a lot of R&D and human resources and will roll out more new products with multiple functions, develop new materials, and apply new technologies to support the development of the nutrition and health industry.

*Note: World’s first study of association of NAD+ contents with aging - data as of March 31, 2022, from five authoritative academic literature search platforms (CNKI, Wanfang, PubMed, Web of Science, and Elsevier ScienceDirect).