for the quarter ended 30 June 2023
for the quarter ended 30 June 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.
In the first half of 2023, Gene Solutions recorded a 66% increase in the number of tests compared to this period last year due to (i) a 44% growth in number of points of sale, and (ii) the recent launch of its affordable Non-Invasive Prenatal Test (“NIPT”) test, triSureFirst, a blood test for pregnant women to detect early diseases for fetus. This quarter, the company partnered with Kalgen, a leading Indonesian pharmaceutical and healthcare company, to open a new lab in Indonesia. This is the first NIPT lab in Indonesia, marking a milestone for Gene Solutions’ expansion to Southeast Asia.
Marou recently won the Gold and Special Awards in the Dark Chocolate category at the Asia-Pacific Craft Chocolatier competition for its Caramel Pumpkin Seeds 65% Dark Chocolate. Marou’s chocolate has been welcomed and recognized globally with its 100% Dark chocolate bar being displayed in the Cologne Chocolate Museum (Germany), one of the top museums in the world dedicated to chocolate.
LiveSpo reported a 65% increase in net revenue in the first half of 2023 compared to this period last year. This was due to its focus to have more product types at chain pharmacies and domestic e-commerce channels. In June 2023, LiveSpo was the only Vietnam representative at the BIO International Convention in Boston, USA, which displayed breakthrough biotechnology solutions. At this event, LiveSpo Navax, the first-of-its-kind nasal-spray spore probiotics, drew attention from the global biotechnology community. This product offers safe respiratory treatment options to patients, particularly children, instead of using antibiotics.
YOLA’s total enrollments recorded a 70% year on year growth in the first half of 2023. This was attributable to YOLA’s continuous effort to (i) enhance its customer care services, and (ii) strengthen its teaching quality that enabled a high re-enrollment rate.
In the second quarter of 2023, Mutosi added 421 new points of sale to its distribution network, including 216 Dien May Xanh stores, the largest electrical appliance retailer in Vietnam. This brought its total distribution network to 2,627 points of sale across the nation as of 30 June 2023. Mutosi’s key products include water purifiers and induction cookers that meet the Japanese standards.
In the effort to catering customers’ beauty need, HSV Group continued identifying and bringing new product types to its Beauty Box stores, the company’s flagship multi-brand skincare and cosmetic retail chain. In the first six months of 2023, the total number of products offering at Beauty Box increased by 31% year on year.
In June 2023, Vua Nem introduced Sleeptek 2.0, the first smart bed product in Vietnam market. Sleeptek 2.0 is designed with a self-adjusting system which puts users in a weightless state, thereby soothing the spine and protecting the joints. The launching of this product was Vua Nem’s pursuit of its vision to become the pioneer in providing innovative sleep solutions to Vietnamese consumers.
In the first half of 2023, Entobel reported a 140% rise in insect meals production volume compared to this period last year. Its new Vung Tau factory, with a design capacity of 10,000 tons, is near completion and set to become Asia’s largest insect-based ingredient manufacturing factory once completed. Entobel provides sustainable premium ingredients from black soldier flies for industries like animal feed, pet food and organic fertilizers.
