Cellmid receives Chinese import permits for its Jo-Ju® and Lexilis® branded shampoos
The health and beauty-tech business is focused on global distribution and sales of its scientifically validated innovative consumer products. The import permits allow the sale of the shampoo products in any channel in mainland China.
Cellmid Ltd (ASX:CDY) has received Chinese import permits for its Jo-Ju® and Lexilis® branded shampoos from the National Medical Products Administration (NMPA).
This marks an important milestone in the implementation of the distribution agreement signed in December 2020 with Ourui Health Management (OHM).
The company s shares have been almost 6% higher intra-day to 7.2 cents.
Cellmid on track for profitability in FY2022 with planned revenue growth in ecommerce and new product launches
The company has made progress in its new product development program with a hair loss supplement formulation completed and manufacturing and ecommerce set to launch during the first half of 2022. Cellmid is well-funded to implement its growth strategy after completing a $4.5 million capital raise in March, taking cash reserves to around $8.3 million after costs.
Cellmid Ltd (ASX:CDY) is on track for profitability in the 2022 financial year with planned revenue growth in ecommerce, new distribution channels to China and new product launches.
During the March quarter, consumer health sales increased by 12% on pcp, due to an increase in sales of Cellmid’s evolis branded platforms and through ecommerce retail partners.