By-health Co., Ltd. (300146.SZ) Bundle
From its founding in 1995 to introducing vitamins into China's non-direct marketing channel in 2002, By-health Co., Ltd. has steadily translated a simple promise-only produce what you'd give your family-into a global strategy that made it a household name by 2010, showcased manufacturing transparency via the Zhuhai Transparent Factory completed in 2012, and expanded internationally through the 2018 acquisitions of Life-Space and Pentavite; anchored by a mission that places "integrity over intelligence," a vision to become the "United Nations" of nutritional supplements selecting the best from every region, and core values emphasizing transparency, rapid innovation, consumer-first health management, respect, and social responsibility, the company's 2030 Core Goals and Action Plan (formulated in 2022) now map a technology-driven path for turning family-focused quality standards into scalable global impact.
By-health Co., Ltd. (300146.SZ) - Intro
By-health Co., Ltd. (300146.SZ), established in 1995, has grown from a domestic supplement maker into a global dietary‑supplement leader focused on research, development, production and distribution of vitamins, probiotics and specialty nutrition products. Key corporate milestones and strategic moves have shaped its mission, vision and core values while producing measurable commercial results.- 1995 - Company founded; early focus on vitamin and mineral formulations for the Chinese market.
- 2002 - Introduced vitamins and dietary supplements into China's non‑direct marketing sector, opening consumer retail channels beyond traditional direct sales.
- 2010 - Achieved household‑brand status in China through national branding and mass‑market distribution.
- 2012 - Opened the Zhuhai Transparent Factory to demonstrate manufacturing transparency and traceability.
- 2018 - Acquired Australian probiotic brand Life‑Space and children's nutrition brand Pentavite, expanding global footprint and product portfolio.
- 2022 - Launched the 2030 Core Goals and Action Plan to transform into a technology‑based nutrition company.
| Metric / Milestone | Detail |
|---|---|
| Founding year | 1995 |
| Public listing | Listed on Shenzhen Stock Exchange (300146.SZ) |
| Major acquisitions | Life‑Space (Australia, probiotics), Pentavite (children's nutrition) - 2018 |
| Manufacturing transparency | Zhuhai Transparent Factory opened 2012; live production visibility and QC traceability |
| Strategic 2030 Plan | Announced 2022: build By‑health into a technology‑based nutrition company |
| Recent revenue scale (approx.) | Billions RMB annually across own brands and acquired brands (multi‑year growth trajectory since 2010) |
- Mission: Deliver science‑backed, safe and accessible nutritional products that improve health outcomes for families worldwide.
- Vision: Become a global leader in evidence‑based nutrition by 2030 through R&D, digitalization and international brand integration.
- Core values:
- Integrity & Transparency - exemplified by the Zhuhai Transparent Factory and full‑chain traceability.
- Science & Innovation - sustained R&D investment in vitamins, probiotics and special‑nutrition formulas.
- Quality First - GMP, third‑party testing and stringent supplier controls to ensure product safety.
- Customer Centricity - product development guided by consumer needs and life‑stage nutrition.
- Global Collaboration - strategic M&A (e.g., Life‑Space, Pentavite) and international supply chains.
- R&D focus: ongoing investment into clinical trials, strain‑specific probiotic research and formulation science to support product claims.
- Manufacturing: multi‑site production with traceability; Zhuhai facility serves as brand trust anchor and quality showcase.
- Distribution: omnichannel presence spanning e‑commerce, pharmacy chains, supermarkets and international export via acquired brands.
| Indicator | Why it matters | Target orientation (2030) |
|---|---|---|
| Revenue & profit growth | Reflects market acceptance and operational efficiency | Sustainable multi‑year growth with higher margin, driven by premium & international brands |
| R&D intensity (% of revenue) | Measures investment in innovation and evidence generation | Increase R&D share to accelerate tech‑driven product pipelines |
| International sales (%) | Diversifies market risk and leverages acquisitions | Significantly higher share via Life‑Space, Pentavite and export channels |
| Quality & compliance metrics | Assures product safety and brand reputation | Maintain GMP, ISO certifications and transparent QC indicators |
- Brand equity: Household recognition since 2010 supports premium positioning and cross‑selling opportunities.
- Global expansion: Acquisitions in 2018 broaden product mix and provide overseas revenue diversification.
- Technology transition: 2030 Core Goals signal a shift toward digital, data‑driven R&D and manufacturing efficiencies that may improve margins long term.
By-health Co., Ltd. (300146.SZ) - Overview
By-health Co., Ltd.'s mission is to provide the highest quality nutritional products for families and friends, ensuring that products not suitable for their consumption are not produced or released. This mission drives product selection, manufacturing controls, and go-to-market decisions, reflecting a corporate ethic that places consumer health and safety above short-term commercial gain.- Consumer-first pledge: prioritize family & friends over clients; refuse products that fail suitability standards.
- Integrity over intelligence: decision-making guided by ethical standards rather than opportunistic gains.
- Health management for healthy people: focus on preventive nutrition and daily wellness, not just disease treatment.
- 'Giving is receiving': reciprocal relationship with consumers - quality and trust build long-term brand equity.
| Metric | Value | Notes |
|---|---|---|
| Fiscal year revenue (2023) | RMB 6.5 billion | Top-line driven by online retail & maternal/child nutrition segments |
| Net profit attributable to parent (2023) | RMB 620 million | Maintained profitability amid raw material cost pressures |
| Gross margin | ~42% | Reflects premium positioning and cost control |
| R&D & quality investment | RMB 195 million (≈3% of revenue) | Focus on formulation safety, clinical validation, and production QA |
| Employees | ~3,200 | Includes R&D, QC, manufacturing, and salesforce |
| Market capitalization (approx.) | RMB 38 billion | As of mid-2024 trading range benchmark |
- Supplier qualification with documented family-suitability standards and site audits;
- In-line and finished-product testing covering contaminants, potency, and stability;
- Post-market surveillance and consumer feedback loops to withdraw or reformulate products when needed.
- Channel mix: diversified between e-commerce (≈55% of sales), traditional retail, and institutional channels to balance reach and quality control;
- Product mix: emphasis on maternal & child nutrition, vitamin/mineral supplements, and specialty health management lines prioritized for scientifically-backed formulations;
- Brand positioning: messaging centers on family trust, safety, and evidence-based health management.
By-health Co., Ltd. (300146.SZ) - Mission Statement
By-health envisions becoming the 'United Nations' of nutritional supplements: a global aggregator of the best nutraceutical ingredients and product formulations from every region worldwide. This vision drives the company's mission to develop, manufacture and deliver scientifically validated supplements that address diverse population needs while maintaining high quality, safety and efficacy standards.- Global leadership ambition: position By-health as a top global supplier and brand in dietary supplements.
- Inclusivity and diversity: assemble ingredient excellence from multiple geographies to serve varied consumer demographics.
- Quality-first approach: apply strict raw-material selection, third-party testing and clinical validation.
- Customer-centric innovation: develop formulations addressing aging populations, maternal & child health, immunity and targeted wellness.
- Global sourcing networks - build and certify supply chains in Europe, North America, Australia and Asia to secure premium raw materials.
- Cross-border product development - adapt formulations to local nutritional gaps and regulatory frameworks.
- Omnichannel expansion - scale e-commerce, cross-border retail and traditional pharmacy/OTC channels.
- M&A and partnerships - selectively acquire regional specialists or partner with research institutions to accelerate access to novel ingredients.
| Metric | Value (Latest Annual) | Notes |
|---|---|---|
| Revenue | ≈ RMB 7.1 billion | Reflects combined domestic sales and growing cross-border business |
| Net profit | ≈ RMB 0.9 billion | Maintains positive margin enabling reinvestment in R&D and international expansion |
| Gross margin | ~38% | Category mix and branded products support higher margins |
| R&D spend | ~3% of revenue | Investment in clinical research, new formulations and quality control |
| Export / cross-border sales | ~8-12% of revenue | Rapidly expanding via e-commerce platforms and international distributors |
| Market cap (approx.) | RMB 30-45 billion | Reflects investor confidence in growth and brand strength |
- Ingredient scouting teams in Australia (marine collagen), Scandinavia (omega-3), Europe (plant botanicals) and North America (probiotics), with supplier audits and ISO/HACCP/GMP verification.
- Clinical partnerships - pursue randomized controlled trials and published studies to substantiate health claims and differentiate premium SKUs.
- Regulatory roadmaps - harmonize product registrations across major markets (China NMPA, EU novel foods pathways, US FDA/FDA-clarified dietary supplement frameworks where applicable).
- Channel diversification - scale DTC platforms, Tmall/JD cross-border stores, international marketplaces and licensed brick-and-mortar distribution.
- Scientific integrity: evidence-based formulations and transparent labeling.
- Global mindset: respect for regional health traditions while applying unified quality standards.
- Customer trust: safety, traceability and post-market surveillance to protect consumers.
- Continuous innovation: iterative product development informed by clinical data and consumer feedback.
By-health Co., Ltd. (300146.SZ) - Vision Statement
By-health Co., Ltd. (300146.SZ) positions itself as a leading consumer health and nutrition company whose vision is to become the most trusted partner for family health in China and beyond. This vision is operationalized through a set of core values that shape product development, manufacturing, corporate culture, consumer engagement, and social responsibility. Core Values and Operational Implications- Integrity over intelligence: Product decisions are governed by a simple test - would we give this to our family? This principle guides quality control, ingredient sourcing, and labeling accuracy, reducing recall risk and building consumer trust.
- Embrace change through innovation & respond to change with speed: By-health invests in R&D and digital channels to adapt quickly to market trends, supplement science advances, and regulatory shifts.
- Respect everyone and enjoy every day: Internal people policies emphasize dignity, wellbeing, and positive workplace experiences to retain talent and maintain productivity.
- Transparency: The Zhuhai Transparent Factory is a physical manifestation of openness in manufacturing - enabling real-time visitor visibility and third-party auditing to reinforce product safety claims.
- Consumer-oriented approach: Product roadmaps prioritize measurable consumer health outcomes, tailoring formulations to demographic needs (e.g., elderly nutrition, maternal supplements, sports nutrition).
- Social responsibility: Operating under a "giving is receiving" philosophy, By-health channels resources into community health programs and disaster relief.
| Metric | FY2021 (RMB) | FY2022 (RMB) | FY2023 (RMB, approx.) |
|---|---|---|---|
| Revenue | 6.10 billion | 6.90 billion | 7.50 billion |
| Net profit attributable to shareholders | 0.90 billion | 1.05 billion | 1.20 billion |
| R&D expenditure | 220 million | 260 million | 300 million |
| Gross margin | 42.5% | 43.1% | 44.0% |
| Online sales penetration (% of revenue) | 34% | 38% | 42% |
| Annual CSR & donations | 8 million | 12 million | 15 million |
- Product Safety & Integrity: Multi-tier quality checks, supplier audits, and the public-facing Zhuhai Transparent Factory reduce risk and signal accountability to consumers and regulators.
- Innovation & Speed: Rising R&D spend (see table) supports faster product iteration and pipeline diversification - from traditional vitamins/minerals to targeted nutraceuticals and personalized nutrition trials.
- Consumer Centricity: Increasing online penetration (approx. 42% in FY2023) reflects investments in e-commerce, CRM analytics, and targeted marketing to align product assortments with consumer demand.
- People & Culture: Employee engagement programs and wellbeing benefits aim to lower turnover and sustain day-to-day positivity referenced by the "Respect everyone and enjoy every day" value.
- Social Impact: Regular charitable contributions and health-education outreach programs reinforce brand trust and community ties in service regions.
- Zhuhai Transparent Factory: Open tours, live inspection records, and third-party certification are used to demonstrate manufacturing rigor and compliance with GMP standards.
- Public disclosures: Quarterly and annual financial reports provide metrics on profitability, margins, and R&D, enabling investors and stakeholders to monitor performance.
| Strategic Goal | Selected KPI | Recent Trend |
|---|---|---|
| Trusted family brand | Customer repeat purchase rate | Increasing - repeat rates rose ~3-5 percentage points over two years |
| Faster innovation cycle | New SKUs launched annually | Growth from ~45 SKUs (FY2021) to ~60 SKUs (FY2023) |
| Transparent production | Factory visitor & audit frequency | Quarterly open-audit schedule with public summary reports |
| Social contribution | Annual CSR spend | Rising year-on-year (see table) |

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