Proya Group’s Revenue Soars 37.82%, Ranking Second in Mainland China
- Chaileedo Press
- Apr 13, 2023
- 2 min read
Updated: Apr 14, 2023
Proya Group, the Chinese beauty giant soars 37.82% in operating revenue to 6.385 billion yuan ($929.6 million) and ranked second in revenue among Chinese cosmetics companies.
Proya Group, the Chinese beauty giant, released the 2022 annual financial results announcement. The company achieved a total operating revenue of 6.385 billion yuan ($929.6 million), with an increase of 37.82% compared to 2021. The company’s net profit attributable to shareholders reached 817 million ($126.5 million) yuan, a year-on-year increase of 41.88%.
According to the annual financial results announcement, Proya Group attributes the remarkable performance to its further deepening on the "Multi-Brand, Multi-Category, and Multi-channel" strategy”. Due to the continuous "Hero Product Strategy ". the sales of the company’s main brand Proya have achieved steady growth, as well as other brands include Timage, Off&Relax, and Hapsode. The online channels of each brand also delivered steady growth.
Proya Group, founded in 2006, the company listed on the Shanghai Stock Exchange main board in November 2017. Since Proya Group went public, Proya Group has achieved double-digit operating revenue growth for five consecutive years, and its total operating revenue and net profit have shown an overall increase. In the year of 2022, Proya Group’s operating revenue exceeded 6 billion yuan ($872.96 million).
According to the annual financial report data for 2022, Proya Group ranks second among domestic cosmetics listed companies with a total operating revenue of 6.385 billion yuan ($929.6 million), only down to Shanghai Jahwa, which delivered 7.106 billion yuan ($1.034 billion) in operating revenue.
In addition to the skin care brand Proya with the highest proportion of its main business, the company's color cosmetic brand Timage also achieved rapid growth, and has now became Proya Group's second growth curve.
The 2021 financial report shows that among Proya Group's own brands, the skin care brand Proya delivered 3.829 billion yuan ($555.78 million) in operating revenue, an increase of 28% compared to 2020, accounting for 82.87% of total operating revenue. The operating revenue of the color cosmetic brand Timage achieved 246 million yuan ($35.79 million), a remarkable increase of 103.48% compared to 2020, accounting for 5.33% of the total operating revenue.
In addition, in the third quarter financial report of Proya Group in 2022, the turnaround from loss to profit of its color cosmetics brand Timage made contribution to the growth of the company’s net revenue.
According to the forecasts of several financial institutions, Proya Group’s operating revenue will exceed 9 billion yuan ($1.309 billion) in 2024 and is expected to hit 10 billion ($1.455 billion) in the following years.
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