Skincare brand Dr Wu (達爾膚生醫科技) yesterday announced plans to make its market debut on the Taipei Exchange on June 16.
The company, whose shares gained 11.08 percent to NT$442.09 on the preparatory Emerging Stock Market yesterday, was founded in 2003 by dermatologist Wu Ying-chin (吳英俊) with capital of NT$282 million (US$8.6 million).
“We specialize in developing and marketing hypoallergenic skincare products,” company president Eric Wu (吳奕叡) said yesterday at a pre-listing news conference, adding that the company outsources the manufacturing of its products.
He said that virtual channels play a large role in the company’s success in China, where it has forged ties with TMall (天貓).
In addition, the company aims to increase its number of retail outlets in China from 40 to 100 by the end of this year, he said.
The company is also upbeat about capturing a greater share of Taiwan’s estimated NT$700 billion market for skincare products, Eric Wu said, adding that the company forecasts revenues to grow between 10 and 15 percent.
The company’s net income in the first quarter rose 78 percent annually to NT$67.02 million, or NT$2.38 per share, with sales reaching NT$234.12 million, a 60 percent increase from a year ago.
The earnings growth was driven by strong sales momentum in Taiwan and China, the company said, with revenue contribution rising from 2 percent in 2014 to 16 percent last year.
The company, which expanded into the Chinese market in September 2014, saw sales in the nation during the January-to-March period rise 177 percent annually to NT$33 million.
The company has decided to distribute NT$8 in dividends, consisting of NT$3 cash dividend and 50 percent stock dividend, on last year’s earnings per share of NT$8.1.
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