New stock news | Proya Cosmetics (603605.SH) once again submits listing application to the Hong Kong Stock Exchange, covering skin care, makeup, personal care and other fields.

According to the disclosure on April 30, 2026 by the Hong Kong Stock Exchange, Proya Cosmetics Co., Ltd. (referred to as Proya Cosmetics) has once again submitted its listing application to the main board of the Hong Kong Stock Exchange, with CICC and UBS as its joint sponsors. Company Profile The prospectus shows that Proya Cosmetics (603605.SH) is a leading domestic multi-brand beauty group in China, with a multi-brand and multi-category makeup matrix covering different consumer groups, including skincare, makeup, personal care, etc. The company owns skincare brands such as "Proya Cosmetics", "Yue Futai", "Kerry Skin", makeup brands such as "Caitang", "Original Bottal", and personal care brands such as "Off & Relax", "Jingshi". According to Frost & Sullivan data, based on retail sales in 2025, the company ranks fifth among the top five groups in the Chinese cosmetics industry with a market share of 1.5%. It is the only Chinese domestic cosmetics group, and its compound annual growth rate of retail sales from 2023 to 2025 ranks first, surpassing other leading foreign groups. Based on retail sales, the company had a 3.0% market share in the Chinese domestic cosmetics industry in 2025. Among them, the four star brands of "Proya Cosmetics", "Caitang", "Off & Relax", "Yue Futai" with retail scale exceeding 500 million yuan, ranked first in the number of star brands in domestic cosmetics groups, and the only one with star brands in all three categories. In terms of sales model, the company mainly focuses on online platforms, while also using offline sales channels to enhance brand outreach and market coverage. Online sales channels include online direct sales and online distribution, while offline sales channels mainly include offline distribution. In terms of revenue, the company's main customers are end consumers, with the largest customers being e-commerce platforms as online distributors. In the past record period of each year, revenue from the top five customers accounted for 13.1%, 15.3%, and 12.5% of the total product sales revenue for the respective years. The company insists on self-production of core skincare products, operating a production base in Huzhou, Zhejiang, with 66 production lines mainly producing skincare products. At the same time, the company has a factory under construction in Huzhou. The annual designed production capacity of the new production base is 400 million units, providing sufficient room for future growth. Financial Data Income The company recorded revenues of approximately 8.905 billion yuan, 10.778 billion yuan, and 10.597 billion yuan in the years 2023, 2024, and 2025, respectively. Profit The company recorded annual profits of approximately 1.231 billion yuan, 1.585 billion yuan, and 1.543 billion yuan in the years 2023, 2024, and 2025, respectively. Gross Profit Margin The company recorded gross profit margins of approximately 69.9%, 71.4%, and 73.3% in the years 2023, 2024, and 2025, respectively. Industry Overview The cosmetics industry includes skincare products, personal care products, makeup products, and others. China is the world's second-largest cosmetics market, holding a market share of 11.5% in the global cosmetics market in 2025. The average per capita expenditure on cosmetics in China was approximately 679 yuan in 2025, only about one-fifth of that in developed Asian countries such as Japan and South Korea. With the further popularization of fine skin care concepts, expansion of consumer groups, and the diverse development of consumer demands, the Chinese cosmetics market is expected to grow at a compound annual growth rate of 5.1% from 2025 to 2030. By 2030, the market share of China in the global cosmetics market is expected to reach approximately 12.9%. In terms of retail sales, the market size of the Chinese domestic cosmetics industry increased from 392.9 billion yuan in 2020 to 481.4 billion yuan in 2025, with a compound annual growth rate of 4.1%. It is expected to continue to grow at a compound annual growth rate of 7.2% from 2025 to 2030, reaching 680.2 billion yuan in 2030, outperforming international brands in China. Currently, the stage of the Chinese cosmetics industry is similar to the early stages of developed Asian markets such as Japan and South Korea. Based on retail sales in 2025, local cosmetics brands in Korea and Japan account for over 80% and 70% of the market share, respectively, maintaining their dominant positions. In comparison, the market share of Chinese local cosmetics brands is 50.5%. Skincare Market Overview Over the past five years, skincare products have been the largest segment in the Chinese cosmetics industry. Based on retail sales in 2025, skincare products accounted for 48.4% of the Chinese cosmetics industry. The market size of the Chinese skincare industry in 2025 reached 461.5 billion yuan. The Chinese skincare industry is expected to continue growing at a compound annual growth rate of 5.4% to reach 599.9 billion yuan by 2030. Makeup Market Overview Based on retail sales in 2025, makeup products accounted for approximately 12.3% of the Chinese cosmetics industry. The market size of the Chinese makeup industry in 2025 reached 117.1 billion yuan. The makeup industry is expected to further grow at a compound annual growth rate of 4.8% to reach 147.9 billion yuan by 2030. Competitive Landscape According to Frost & Sullivan data, based on retail sales in 2025, the company is the fifth largest cosmetics group in China, with a market share of 1.5%. From 2023 to 2025, the company was the fastest-growing cosmetics group among the top five cosmetics groups and the only domestic cosmetics group. According to Frost & Sullivan data, based on retail sales in 2025, Proya Cosmetics is the fourth largest cosmetics brand in China, with a market share of 1.1%. Proya Cosmetics is the only domestic cosmetics brand among the top five cosmetics brands. Board of Directors Information The company's board of directors consists of 7 directors, including 4 executive directors and 3 independent non-executive directors. The directors serve a term of 3 years and can be re-elected after the term expires, while the consecutive tenure of independent non-executive directors may not exceed 6 years. Shareholding Structure As of April 23, 2026, Chairman Hou Jun Cheng is the controlling shareholder of the company, holding 34.53% of the company's shares directly. Intermediary Team Joint Sponsors: China International Finance Hong Kong Securities Limited, UBS Securities Hong Kong Limited Company Legal Advisers: For Hong Kong and U.S. law: Herbert Smith Freehills LLP; For Chinese law: Guo Hao Law Firm (Hangzhou Branch); For data compliance law: Guo Hao Law Firm (Beijing Branch) Joint Sponsors Legal Advisers: For Hong Kong and U.S. law: Cooley LLP; For Chinese law: Beijing Deheng (Shenzhen) Law Firm Auditors and Reporting Accountants: Ernst & Young Industry Consultants: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch Compliance Consultants: SOMERLEY CAP Limited