1Q2023 Newsletter

1Q23 Newsletter
for the quarter ended 31 March 2023

1Q23 Newsletter
for the quarter ended 31 March 2023

Some of the data here are the latest available to Mekong Capital at the date of this newsletter to be circulated. It might subject to be changed/updated lately.

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Spotlight On Investee Companies

Spotlight On Investee Companies
Launched new product triSureFirst 

In 1Q23, Gene Solutions launched the most affordable Non-Invasive Prenatal Testing (“NIPT”) product in Vietnam, triSureFirst, which is a blood test for pregnant women to screen the 3 most common abnormalities for the fetus: Down, Edwards, and Patau syndromes.

Launched new product triSureFirst
Revenue increased 100% YoY

Marou’s 1Q23 revenue increased by 100% YoY, which was driven by the company’s retail footprint expansion, frequent new product launchings and menu refresh. Marou currently has 8 retail stores in Ho Chi Minh City, Hanoi and Binh Duong.

Revenue increased 100% YoY
Paper published in microbiology scientific reports  

LiveSpo Navax’s probiotic spores were proved effective in supporting the treatment of acute respiratory infections in children as published by Nature.com, one of the world’s leading scientific journals. In addition, to make their products more convenient, LiveSpo recently launched LiveSpo Navax in new packaging.

Paper published in microbiology scientific reports
Revenue increased 65% YoY

In 1Q23, Entobel recorded a 65% YoY increase in revenue. During the quarter, Entobel continued to improve its factory productivity, as well as shorten the production cycle of black soldier fly larvae to speed up its insect meal production volume while ensuring the derived protein and oil have high nutrient value.

Revenue increased 65% YoY
Total enrollments increased 38% YoY

YOLA recorded a 38% YoY growth in total enrollments in 1Q23. This was attributable to YOLA’s effort to (i) continuously redesign the courses to enhance the students’ engagement, (ii) elevate the customer care service, and (iii) deliver all courses for kids with 100% native English-speaking teachers.

Total enrollments increased 38% YoY
Launched new line of product Mutosi Pro 

Mutosi launched Mutosi Pro, a new purifier providing water with double the amount of hydrogen, which helps balance the acid level in the body and supports anti-aging. As part of Mutosi Pro line, the company debuted the first-ever probiotic water purifier in Vietnam in partnership with LiveSpo. This product boosts immunity and intestinal organisms that help to digest food.

Launched new line of product Mutosi Pro
Added 130 new exclusive SKUs to BeautyBox

During the quarter, HSV Group added in 130 new exclusive SKUs to its BeautyBox store chain, bringing up the total number of exclusive SKUs to 550 as of 31 March 2023. This showed HSV Group’s continuous effort to enhance its product assortment to ensure the customers can get access to more new beauty products in the market. 

Added 130 new exclusive SKUs to BeautyBox
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