Proya reports revenue topping USD 152 million and net profit of USD 19 million for the first six months of 2018

2018-09-17 09:30 1142

HANGZHOU, China, Sept. 17, 2018 /PRNewswire/ -- Leading Chinese cosmetics company Proya Cosmetics Co., Ltd. (SHA: 603605) has exhibited steady growth since listing on China's A Share market in November 2017. The company recently announced revenue of 1.042 billion yuan (approx. USD 152 million) for the first six months of 2018, up 24.92 percent year on year. During the reporting period, Proya achieved a net profit of 129 million yuan (approx. USD 19 million), an increase of 44.88 percent over the same period of 2017. The company's flagship brand, Proya, made up 89.42 percent of the total revenue, up 27.52 percent year on year. In addition, the company's online channels saw revenue growth of 58.46 percent on a yearly basis, with proportion to total revenue rising to 39.59 percent, signaling the increasingly improved profitability of the cosmetics company's e-commerce business.

For the 6 Months Ended Jun. 30; in RMB

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According to the financial results, the increase can be attributed as follows:

1. For the first six months of 2018, the company's revenue increased 24.92 year on year, largely driven by the 58.46 percent growth in revenue of its online channels. Revenue of its offline channels, including daily-use chemical specialty stores, department stores, supermarkets and single-brand stores, achieved 630 million yuan (approx. USD 92 million) during the reporting period, an increase of 9.6 percent year on year;

2. During the same period, the company's increased net profit and net profit excluding non-recurring items attributable to shareholders of the listed company were largely due to the increased gross profit that resulted from the growth in sales and reduced administrative expenses;

3. During the same period, the significant improvement in cash flow from operations was primarily driven by the growth in sales.

Proya's bell-ringing ceremony
Proya's bell-ringing ceremony

Proya now owns Proya, Uzero, Anya, Hapsode, Cats & Roses and Yoya, among other brands. As the company's flagship brand, Proya has over 120 offline distributors and 13,000 cosmetics shops.

In the first half of 2018, the Proya brand continued to target young consumers by further expanding its successful "Ocean Skincare" approach. During the period, the brand rolled out three new collections: Deep Ocean White Luminous, Insbaha Makeup and a line of facial masks, while, in terms of marketing, Proya selected popular male idol Li Yifeng as its new brand ambassador in addition to collaborating with several variety shows. As an embedded marketing partner of The Way We Were, a popular Chinese TV series starring Tiffany Tang (Tang Yan), a well-known actress and Proya's brand ambassador, Proya successfully conducted its IP bundling marketing campaign by way of ongoing product placement throughout the series, in tandem with multichannel marketing efforts and supported by regular interaction with fans.

Additionally, Uzero, has continued to relaunch its single-brand store business model.

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Source: PROYA
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