Chicmax Reports 74% YoY Surge in Net Profit for Fiscal Year 2024

On March 20, Chicmax unveiled its fiscal 2024 earnings report, building on its impressive performance from the first half of the year.

The company posted a 62.1% year-on-year increase in revenue, reaching RMB 6.793 billion. R&D spending rose to RMB 180 million, accounting for 2.6% of total revenue, compared to 3% in the previous year. Gross profit climbed 69.2% to RMB 5.109 billion, with gross margins improving by 3.1 percentage points to 75.2%. Net profit surged 74% to RMB 803 million.

On the marketing front, Chicmax reaffirmed its commitment to maintaining its leadership position by expanding its product marketing network and strengthening brand recognition. The company plans to leverage its resources for more aggressive and effective marketing strategies, deepening its presence across e-commerce and offline channels. Beyond cementing KAN’S leadership on Douyin, it aims to drive growth across Tmall/Taobao, JD.com, Kuaishou, and other platforms.

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