2025-08-26-上交所-珀莱雅化妆品股份有限公司2025年半年度报告（英文版）页_220页_2mb

Proya Cosmetics Co., Ltd. Semi-Annual Report 2025 Summary

Core Content Overview

This document is the Semi-Annual Report 2025 of Proya Cosmetics Co., Ltd., a leading Chinese cosmetics company. It provides a detailed summary of the company's financial performance, business operations, and strategic initiatives for the first half of 2025. The report includes key financial data, management discussion and analysis, and disclosures about risks and governance.

Main Financial Highlights

Profit Distribution Plan

• The company proposes to distribute a cash dividend of RMB8.00 per 10 shares to all registered shareholders.
• Based on the total share capital of 396,247,646 shares (excluding shares held in the special securities account for repurchase), the estimated aggregate cash dividend is RMB315,229,456.80 (tax inclusive).
• No capitalization of capital reserves or bonus shares will be issued.

Key Financial Indicators

• Operating revenue: RMB5,361,890,476.66 (up by 7.21% YOY)
• Total profit: RMB998,497,421.08 (up by 11.43% YOY)
• Net profit attributable to shareholders: RMB798,511,332.07 (up by 13.80% YOY)
• Net profit after non-recurring gains and losses: RMB770,601,133.28 (up by 13.49% YOY)
• Net cash flows from operating activities: RMB1,293,329,341.66 (up by 95.34% YOY)
• Net assets attributable to shareholders: RMB5,727,137,910.90 (up by 6.02% YOY)
• Total assets: RMB8,282,681,109.99 (up by 9.99% YOY)

Earnings Per Share

• Basic earnings per share: RMB2.02 (up by 13.48% YOY)
• Diluted earnings per share: RMB2.02 (up by 17.44% YOY)
• Basic earnings per share net of non-recurring gains and losses: RMB1.95 (up by 13.37% YOY)

Return on Equity

• Weighted average ROE: 14.35% (down by 0.99 percentage points YOY)
• Weighted average ROE net of non-recurring gains and losses: 13.85% (down by 1.00 percentage points YOY)

Business Operations and Strategy

Primary Businesses

• The company operates under the 6N Strategy, focusing on R&D, products, contents, and operation.
• Main brands: PROYA, TIMAGE, Off&Relax, HAPSODE, CORRECTORS, INSBAHA, Awaken Seeds, UZERO, and Anya.
• Brands cover skincare, make-up, body & hair, and high-efficiency skincare segments.

Sales Models

• Primary model: Online sales, supplemented by offline sales.
• Online sales: Through direct sales (Tmall, Douyin, JD, Kwai, Pinduoduo) and distribution (Taobao, JD, Vipshop).
• Offline sales: Through dealers, including cosmetics franchise stores, department stores, and multi-brand retailers.

Production/R&D Models

• Main model: Self-production, with OEM production for make-up products.
• R&D cooperation: With universities and research institutions such as Zhejiang University, Shanghai Jiao Tong University, and companies like BASF China, Ashland China, and DSM Shanghai.

Product Development and Marketing

Product Highlights

• Double Effect Brightening Series: Targeting mild aging and dullness, with a focus on anti-early aging + whitening.
• Sunscreening Series: Promoting "Watery Brightening Sunscreen Essence", focusing on sun protection + repair.
• Inaugurating Nourishing Series: Targeting mature skin with mitochondrial-based whitening.
• LongWear Night Cushion: Launched during the "3.8" shopping festival, addressing issues like enlarged pores and excess oil.
• Dual-Shade Night Compact Powder: Introduced in June, designed to prevent dryness, caking, and mask-like finishes.

Marketing Initiatives

• Chinese New Year campaign: "Elevate Your Luck" for the Advanced Firms Nourishing Series.
• Online: Collaboration with Beigaofeng for a co-branded gift box.
• Offline: Symbolic New Year hikes and "Good Fortune" drone show at Hangzhou City Balcony.
• Achievements: Over 360 million topic impressions and 2.2 million engagements.

Risk and Governance Disclosures

Risk Disclosures

• The report includes disclosure of major risks in Section III.
• Forward-looking statements are provided, but they do not constitute substantive undertakings to investors.
• The company has not disclosed any non-operating capital occupation by controlling shareholders or related parties.
• There is no external guarantee provided in violation of specified procedures.

Governance and Information Disclosure

• The Board of Directors and senior management have warranted the authenticity and completeness of the report.
• All directors attended the Board meeting.
• The report is not audited.
• Designated information disclosure media: Shanghai Securities News, Securities Times, China Securities Journal, Securities Daily, Economic Information Daily, and China Daily.
• The website for the publication of the report: http://www.sse.com.cn

Non-Recurring Gains and Losses

• The company has reported non-recurring gains and losses totaling RMB27,910,198.79 (after tax).
• Government grants: RMB50,677,310.00.
• Other non-recurring items: Including asset impairment write-offs, one-off expenses, and tax-related adjustments.
• The report does not disclose any non-recurring gains and losses as applicable.

Conclusion

The report highlights positive financial performance with notable revenue and profit growth. Proya continues to innovate and expand its product matrix across multiple categories and markets. The company maintains a strong online presence and has a diverse brand portfolio. It emphasizes R&D, strategic partnerships, and agile organization to maintain its competitive edge. The profit distribution plan and transparent governance reflect the company's commitment to its stakeholders.