On the evening of October 10, Proya Cosmetics Co., Ltd. (“Proya”) announced that its board of directors had approved a proposal to issue H-shares and list them on the Hong Kong Stock Exchange. The proposal will be submitted to the company’s shareholders for review and approval.
In August this year, Proya had already released a preliminary announcement regarding its plan to issue H-shares and list in Hong Kong. At the time, the company stated that the move aims to accelerate its internationalization strategy and overseas business development, strengthen its offshore financing capabilities, and further enhance its overall competitiveness.
According to the latest announcement, the proceeds raised from the listing, after deducting issuance expenses, will be used for purposes including—but not limited to—research and product innovation, brand building and category expansion, intelligent manufacturing and supply chain capability enhancement, digital and AI capacity building, global business expansion, strategic investments and acquisitions, as well as working capital and general corporate purposes.
Additionally, Proya has appointed Ernst & Young as the auditing firm for this H-share issuance and listing, in accordance with regulatory requirements.
Public information shows that Proya was founded in 2003 and went public on the Shanghai Stock Exchange in November 2017. The company owns well-known brands such as Proya, Caitang, and Uzerme, covering categories including skincare, makeup, hair and body care, and high-performance skincare. Since its IPO, the company’s revenue and net profit have grown steadily year by year. In 2024, Proya became the first Chinese beauty company to join the “10-billion-yuan revenue club.”
In the first half of 2025, Proya reported revenue of 5.362 billion yuan, up 7.21% year-on-year, and a net profit attributable to shareholders of 799 million yuan, up 13.80%. Net cash flow from operating activities rose 95.34% year-on-year to 1.293 billion yuan, while its gross profit margin reached 73.38%, which the company attributed to significant results from its cost-reduction and efficiency-improvement measures.
