China’s demand for coenzyme Q10 remains high but gross margin from the business is at the lower end, says Kingdomway, also the owner of health supplement brand Doctor’s Best.
Co-enzyme Q10 was one of the best-performing supplement categories for Xiamen Kingdomway, breaking new sales record last year, said the parent company of Doctor’s Best in its FY23 financial results.
Xiamen-based Kingdomway, also the parent firm of dietary supplement brand Doctor’s Best, said net profit had plummeted 67 per cent last year, largely due to a drop in the selling price of vitamin A and coenzyme-Q10 – two of its largest raw material businesses.
