Xi ‘an Tianmei Biotechnology announced a record fiscal year 2021 financial results

2022-06-02 0 By

Xi ‘an, Feb 3, 2022 / PRnewswire / — Xi ‘an Tianmei Biotechnology Co., LTD. (NASDAQ:BON (” Tenmei Bio “or the” Company “), a leading provider of key active ingredients and solutions to the natural, health and personal care industries, today announced its financial results for the full year ended September 30, 2021.Financial highlights total revenue for fiscal 2021 was $25.49 million, up 39.9% from $18.2 million for the same period in 2020.Gross profit increased 36.7% to $7.1 million from $5.2 million in the same period in 2020.Administrative expenses decreased 3.2%, or $43,344, to $1.3 million from $1.4 million in the same period in 2020.Government grants are shown as other operating income of $449,972 and $362,187 in fiscal 2021 and 2020, respectively.Net income increased 48.8% to $4.61 million from $3.1 million in the same period in 2020.Adjusted EBITDA for fiscal year 2021 increased 46.5% from $4.21 million to $6.12 million in fiscal year 2020.Diluted earnings per share (” EPS “) were $0.68, compared to $0.58 for the same period in 2020.Sales volume of spice ingredients and dietary supplements (solid beverages) categories increased by 7.9% and 51.7% in fiscal 2021 compared to the same period in 2020.Sales volume of bioactive food raw material products decreased slightly by 5.7% year-on-year in fy2021.* The schedule at the end of this press release contains adjustments to GAAP and non-GAAP measures for the financial results with respect to adjustments to our non-GAAP measures,See the GAAP financial indicatorsManagement discussion “the trend of the strong demand for the company’s business we feel happy, and the company implements the double-digit sales growth and reached a new high income proud of these results fully illustrates our strong product, continuous innovation, and we as an important partner of the customer value” day beautiful creatures, chairman and CEO, says Mr Hu Yongwei”In the short term, because of the global pandemic dragged on, global trade relations and the change of macro financial policy, we are facing unprecedented challenge of global supply chains and the related raw material and logistics cost of inflation increases, but I believe our team has the ability to cope with these difficulties and pressures and we will” into a crisis,”This as an opportunity to promote the company’s product portfolio to more technical content and higher profit products, in order to increase our pricing power, and obtain higher profit margins at the same time, we will improve optimization capacity, strong cost control measures and it is worth mentioning that our human microbes as targets of terminal products has made significant progress in 2021,As we all natural personal care products – yu chun successful launch, and stachyose probiotics powder and other series of products are listed in a strong force and huge market demand, driven by our rapid progress for himself in the end user market has full confidence in the last, as the yumen factory completed and put into production this year, will be able to bring 150% revenue growth,It also allows us to serve our customers both domestically and internationally more efficiently, accelerate our global business expansion plans, and create lasting long-term value for our investors.”Revenue from sales of spice ingredients increased 61.7% to $12.7 million from $7.9 million in the same period in 2020.The increase was mainly due to a 7.9% increase in sales volume and 39.2% increase in average selling price, respectively, as well as a 7.1% increase due to foreign exchange rates.The gross profit of spice ingredients increased 82.3% to $2.95 million from $1.6 million in the same period in 2020.The reasons for the increase are the same.Revenue from sales of dietary supplement (solid beverage) products increased to $6.7 million from $3.89 million in the same period in 2020, an increase of 71.2%.The increase was due to an increase in sales volume and average selling price of 51.7 per cent and 4.9 per cent, respectively, as well as an increase of 7.1 per cent due to exchange rates.Gross profit for dietary supplements (solid beverages) increased 81.8% to $2.1 million from $1.13 million in the same period in 2020.The reasons for the increase are the same.Revenue from sales of bioactive food ingredients decreased 5.6% to $6.1 million from $6.45 million in the same period in 2020.The decrease was mainly due to a 5.7% decrease in sales volume and a 7.0% decrease in average selling price.In 2021, as the spread of COVID-19 was brought under control in China, customer orders for our bioactive food ingredient, stousaccharide, decreased, which was offset by a 7.1% increase in exchange rates.Gross profit for bioactive food ingredients decreased 14.2% to $2.1 million from $2.45 million in the same period in 2020.The reasons for the decrease are the same.Selling expenses decreased from $161,719 to $138,530 for the same period in 2021, a decrease of $23,189, or approximately 14.3%.The decrease was due to cost savings as the company shifted its focus to large domestic customers through online marketing and sales promotion.Research and development expenses increased by $43,691, or approximately 21.3%, to $249,050 from $205,359 in fiscal year 2020.The increase was mainly due to an increase of $26,391 in research material consumption and an increase of $10,647 in r&d testing and inspection related expenses.Government subsidies received in the form of subsidies and recognized as other operating income totaled $446,910 and $332,418 for the years ended September 30, 2021 and 2020, respectively.Net income increased from $3.1 million for the fiscal year ended September 30, 2020 to $4.61 million for the same period in 2021.Net cash generated from operating activities was $4.05 million for the fiscal year ended September 30, 2021 and $2.64 million for the same period in 2020.Basic earnings per share (” EPS “) were $0.69, compared to $0.58 for the same period in 2020.Diluted earnings per share (” EPS “) were $0.68, compared to $0.58 for the same period in 2020.Post-reporting Period Events On November 11, 2021, the Company announced that it has abolished its variable Interest Entity (” VIE “) structure and become the sole shareholder of its operating entity in China.On January 12, 2022, the company announced that it received the first purchase order for Yuchun, chongqing Fudoudou Technology Company’s first stachyose and apple extract based personal care product, in order to penetrate the consumer market.Investor conference call and live webcast live webcast discuss fiscal 2021 financial performance in 2022 February 3, started at 9 a.m. edt webcast and related PPT investors can get access to the company’s web site For people who can’t watch the live webcast, at the end of the activity, the company will provide recorded version on the website.Xi ‘an biological co., LTD. Xi ‘an days beauty biological focus on dietary supplements the bioactive components of production, such as for food manufacturers to provide natural prebiotics production of personal care ingredients, such as perfume spices spices manufacturers offer from plant sources raw materials, natural compound with dietary supplements production, such as solid beverage for more information, please visit the company website:.Safe Harbor Statement This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding the company’s plans, objectives, strategies, future events or performance,And other assumptions and statement when companies use does not include the historical events such as “may”, “will”, “intention”, “should”, “believe”, “expect”, “expected”, “planning” and “estimate” or other similar expression, not related to historical events, forward-looking statements is doing forward-looking statements are not for the company’s future performance guarantee,Involves risks and uncertainties that could cause actual results to differ materially from the Company’s expectations discussed in forward-looking statements that are subject to the impression of uncertainties and risk factors, including, but not limited to:The company’s goals and strategies, the company’s future business development demand, the company’s products and services, technical change, economic situation, the development of China’s natural health and personal care industry and other companies want to develop the international market, reputation and brand, competition and pricing, government regulations, the influence of China and other company wants to develop the international market changes in the economic and business conditions,As well as assumptions relating to any of the foregoing and other risks set forth in the Company’s reports filed with the SEC. Therefore, we caution investors not to place undue reliance on the forward-looking statements in this press release, as discussed in the Company’s SEC filings,These documents may be viewed above and the Company undertakes no obligation to publicly revise forward-looking statements regarding events or circumstances arising after the date of this statement.For more information, please contact: In the United States: In China: Maggie Zhang | Impact IR Sophie Zhang | Impact IR Phone: (646) 893-8916 Email: BON NATURAL LIFE LIMITED ANDSUBSIDIARIESCONSOLIDATED BALANCE SHEETSBON NATURAL LIFE LIMITED AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOMEBON NATURAL LIFE LIMITED AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWSBon Natural Life Limited GAAP to Non-GAAP ReconciliationThe following information and schedules provide reconciliation information between reported GAAP amounts and non-GAAP certain adjusted amounts. This information and schedules are not intended as, and should not be viewed as, a substitute for reported GAAP amounts or financial statements of the Company prepared and presented in accordance with GAAP.(1) Non-cash item represents adjustment of stock-based compensation to reconcile net income to net cash provided byOperations as presented on the Statement of Cash Flows