FUQING, China, April 23, 2023-

Chinese diaper manufacturer DaddyBaby recently released the 2022 report. Its 2022 revenue was 289 million yuan ($42 million), fell by 26.52% year on year. Net profit attributable to investors was -48.77 million yuan, dropped by 391%. Gross profit margin was 15.44%, down 10.24 percentage points compared with 2021.

According to the company, the main reason of its revenue decline was the decrease of the diaper business income, which fell by 78.54 million yuan compared with 2021. Gross profit margin of its baby diapers fell by 6.43 percentage points. Due to the continuous impacts of virus situation and decline of newborn population in China, the domestic baby diaper market has been shrinking. In addition, income of the face mask business of the company dropped by 22.46 million yuan, and gross profit margin down 46.52 percentage points year on year.

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