Proya Expects Net Profit Surges 65% in H1
- Chaileedo Press
- Jul 12, 2023
- 2 min read
Proya is expected to realize a net profit attributable to owners of the parent company of 460 million yuan ($64 million) to 490 million yuan ($68.1 million).
Today (July 12), Chinese skincare brand Proya, which focuses on skincare with efficacy, released its half-year earnings forecast.
The forecast shows that in the half-year of 2023 (January 1, 2023 to June 30, 2023), Proya is expected to realize a net profit attributable to owners of the parent company of 460 million yuan ($64 million) to 490 million yuan ($68.1 million), compared with the same period of the previous year, an increase of 163 million yuan ($22.7 million) to 193 million yuan ($26.8 million), or a year-on-year increase of 55% to 65%.
Net profit attributable to owners of the parent company after extraordinary gains and losses are expected to be 435 million yuan ($60.5 million) to 465 million yuan ($64.7 million) in the half-year of 2023, compared with the same period of the previous year, will increase by 154 million yuan ($21.4 million) to 184 million yuan ($25.6 million), an increase of 55% to 66%.
For the above growth, Proya said that the company continues to promote the guidance of the 6*N strategy ("6" represents new consumption, new marketing, new organization, new mechanism, new technology, new intelligent manufacturing; "N" represents N brands created). It adheres to further deepen the "multi-brand, multi-category, multi-channel" strategy, and continues to consolidate the "Hero product strategy". The sales momentum of its brands has been positive and steady growth has been achieved.
The official website shows that Proya was founded in 2003, is the earliest brand launched under Proya Cosmetics Co. Ltd. In November 2017, the company was listed on the Shanghai Stock Exchange, which is the first share of beauty in China's A-share market. It is reported that Proya is well known to consumers for its Vitamin C for morning and Retinol for night skincare combination. At present, in the official flagship store of Proya, Proya Early C Night A set was 587 yuan ($81.6), with monthly sales of 20,000+ units.
It is worth mentioning that, in the performance of Proya during the Chinese 618 Shopping Festival, Proya is ranked No. 1 in Tmall's Chinese cosmetics and No. 4 in Tmall's beauty, with its turnover on Tmall increasing by more than 80% year-on-year. It is ranked No. 1 in Douyin (Chinese version of TikTok) Chinese cosmetics and No. 6 in Douyin beauty, with turnover increasing by more than 80% year-on-year on Douyin. It is ranked No. 1 in JD’s Chinese cosmetics and No. 9 in JD beauty, with turnover on JD increasing by more than 70% year-on-year.
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