Thu, Sep 13, 2018 - Page 12 News List

Thai Ho eyeing growth through Chinese alliances

By Ted Chen  /  Staff reporter

Thai Ho Group Inc (太和生技集團) is to tap into China’s market for pharmaceutical-grade cosmetics next year as it forges strategic alliances with local partners.

The Taipei Exchange-listed company expects to see revenue growth momentum next year as it commences mass production of 25 skincare and cosmetic products with its partners in China, Thai Ho chief operating officer Michael Kuo (郭靖凱) told a news conference in Taipei on Tuesday.

The 25 products have been certified as pharmaceutical grade by China’s Food and Drug Administration, which enables them to be sold in pharmacies and hospitals, Kuo said.

As opposed to cosmetic-grade certification, the products would carry efficacy claims on their packaging, Kuo said, adding that the company’s new product line is made with botanical active ingredients and cater to the needs of people with sensitive skin.

The company has postponed its plans to stage an initial public offering on the over-the-counter market to focus on its expansion in China, he said.

The firm’s production base in Okinawa, Japan, would begin shipments to North American contract manufacturing customers in the final quarter of this year, he added.

The “Made in Japan” tag provides an important advantage in tackling global markets, Kuo said.

Sales in the first eight months rose 6.96 percent year-on-year to NT$821 million (US$26.63 million), while net income at the end of the second quarter improved to NT$72 million, up from a net loss of NT$39 million at the end of March.

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