The present invention provides a method for inhibiting melanogenesis, promoting collagen production, and promoting wound healing in the skin of a subject in need thereof, comprising administering to the subject an effective amount of a compound represented by formula (I). The compound of the present invention can inhibit melanin formation, promote collagen production and facilitate wound repair. Therefore, the compound can be utilized to manufacture compositions for skin whitening, anti-aging, and wound healing. The present invention also provides a method of preparing a compound of formula (I).