Chinese cosmetics company Proya Cosmetics Co.,Ltd sales revenue in 2021 was $716 million, a year-on-year increase of 23.47%, with the net profit attributable to shareholders of listed companies being $89.04 million, a year-on-year increase of 21.03%.
On April 21, Beijing time, Chinese cosmetics company Proya Cosmetics Co.,Ltd released its 2021 annual report， which shows that in 2021, the company’s operating income was $716 million, a year-on-year increase of 23.47%, with its net profit being $89.04 million, a year-on-year increase of 21.03%. Since 2017, its performance has maintained a medium-to-high speed growth for five consecutive years.
Established in 2006, Proya Cosmetics Co.,Ltd is mainly engaged in the research and development, production and sales of cosmetic products. At present, the company has several brands such as PROYA, TIMAGE, Off&Relax, HAPSODE, CORRECTORS, UZERO and ANYA. Among its brands, skincare brand PROYA’s sales revenue exceeded $590 million, an increase of 28% compared with the same period last year, accounting for 82.87% of total revenue. The revenue of cosmetics brand TIMAGE reached $38 million, an increase of 103.48% over the same period last year, accounting for 5.33% of the total revenue.
It is worth mentioning that in this annual report, data related to product R&D such as PROYA R&D expenditure and R&D the table about personnel data are also released. Among them, there are 159 R&D personnel, accounting for 5.59% of the company’s total number of employees. The R&D expenses in 2021 were $11.8086 million, an increase of $675,400 over the same period of the previous year.
In addition to the increasing research and development expenses, PROYA has done a lot of work in integrating scientific research strengths and increasing the layout of innovative raw materials. In technical cooperation with scientific research institutions and raw material manufacturers such as the Institute of Microbiology, Chinese Academy of Sciences, Ashland, BSF, LipoTrue, DSMUPFO-BioTech, UPFO-BioTech and other scientific research institutions and raw material manufacturers. PROYA has recently cooperated with ZHEJIANG PEPTITIDES BIOLOGICAL CO., LTD, China’s only national high-level “specialized, refined and innovative” little giant① polypeptide manufacturer, signed a strategic cooperation agreement. In the future, PROYA will cooperate with ZHEJIANG PEPTITIDES BIOLOGICAL CO., LTD in many fields such as innovative peptide research and development, peptide green synthesis, raw material production and supply, integrating scientific research strength, and increasing the layout of innovative raw materials.
It is reported that in addition to ZHEJIANG PEPTITIDES BIOLOGICAL CO., LTD, PROYA also plans to launch breakthrough cooperation with more raw material suppliers and scientific research institutions to break the industrial monopoly of foreign (other than China) cosmetic raw materials.
The core of cosmetics is raw materials and the core raw materials of cosmetics are the “chips” of the cosmetics industry. In the rankings of cosmetic raw materials, European and American countries are still the first, the second is Japan, and the third are South Korea and China. Oils, emulsifiers, functional powders and others are monopolized by more than 90% of foreign companies and active substances, humectants, preservatives, essential oils and others are monopolized by 75% of foreign companies.
However, under China’s current new supervision and new requirements, China’s cosmetic raw materials will usher in an opportunity and change. This is the first time that cosmetic innovation has risen to China’s national strategic position. A series of policies of the National Medical Products Administration has provided the necessary environment for innovation. Given the necessary environment, China’s innovative raw materials will enter a very rapid development stage. The technological innovation of raw materials, safety evaluation, standardized publicity of product efficacy, these series of measures are all necessary environments for China’s raw materials to break through.
① “Specialized and Innovative” Little Giants: Specialized, refined, and innovative SMEs refer to Chinese SMEs that have achieved specialization, refinement, specialization, and outstanding innovation capabilities. The “Little Giant” enterprise is a leader among specialized, special and new small and medium-sized enterprises. It is a Chinese enterprise that focuses on market segments, which has strong innovation ability, high market share, masters key core technologies and excellent quality and efficiency.