[Weekend Money] U.S. Sales Surpass 7 Billion Won... This Company Expands from Skin Boosters to ECM

Biovisu, a company specializing in aesthetics, is moving beyond a China-centric overseas sales structure and securing the North American market as a new growth axis. With the launch of its next-generation ECM (extracellular matrix) products and new fillers, the company is expected to continue its growth trajectory.

Yuanta Securities analyzed that Biovisu’s second-quarter results this year exceeded market expectations, and stated that overseas channel diversification and the launch of new products will serve as mid- to long-term growth drivers. Researcher Ko Seungbeom of Yuanta Securities commented, "The company has established a diversified product lineup that covers the entire aesthetic industry."

Biovisu's sales in the second quarter reached 9.9 billion won, a 60% increase compared to the same period last year. That was also up 24% from the previous quarter. In the first half of the year, the company reported cumulative sales of 17.9 billion won and operating profit of 5.3 billion won. The first-half operating profit has already surpassed last year’s annual operating profit of 4.2 billion won.

Researcher Ko explained, "Exceptional results were driven by the growth of skin boosters and medical cosmetic product lines, extending beyond the intensely competitive filler and Botox market."

Yuanta Securities projected Biovisu's full-year sales at 38 billion won and operating profit at 10 billion won, considering the seasonal nature of the aesthetics industry where performance is concentrated in the second half. The company’s operating margin is expected to be about 30%.

The most significant change in overseas business is the company’s push into the North American market. Biovisu has reduced its dependence on Chinese sales, which used to account for up to 70%, and is expanding its export base focusing on the United States. In the first half of this year, U.S. sales exceeded 7 billion won, supported by strong performance from the medical cosmetics brand "Candorup."

Biovisu has entered global e-commerce channels including Amazon, Walmart, Target, and Ulta Beauty, while simultaneously expanding its offline sales network through partnerships with major pharmacy chains and by operating pop-up stores.

Researcher Ko analyzed, "The company is establishing a multi-channel sales structure that covers both online and offline, successfully diversifying its sales structure that was previously concentrated in China."

The launch of new products is another factor boosting growth expectations. In addition to existing cosmetics and skin boosters, Biovisu is nurturing ECM and convergence products as next-generation growth engines.

The fifth-generation ECM product "Cellivion" is a high-end product with a high concentration of collagen, made using a low-temperature process. The company explained that it can secure high margins through exclusive distribution rights with manufacturers. In the third quarter, it also plans to launch a hydrating product designed to reduce procedural pain and improve convenience.

Additionally, Biovisu has developed the "Chitosan Skin Booster," which has completed patent registration and clinical efficacy verification, as well as the "Dualin (miPDRN+PN) Filler," targeting both immediate volume and long-term regeneration effects.

Once European CE certification and Chinese NMPA approval are completed for the company’s main filler products next year, export volumes are expected to increase in earnest. To meet rising global demand, Biovisu is also working to expand its second plant. The company plans to develop manufacturing infrastructure capable of supporting annual sales of 150 billion won over the mid to long term.

Shareholder returns are also continuing. In July, the company completed the purchase and cancellation of treasury shares worth 2 billion won and is maintaining a dividend policy of about 36%.

Researcher Ko predicted, "Sales growth will continue through overseas market diversification and new product launches," adding, "Next-generation ECM and convergence products, as well as expanded overseas product approvals, will become mid- to long-term growth drivers."

This content was produced with the assistance of AI translation services.