Key personnel: Hou Juncheng, actual controller, chairman of the board, director; Fang Yuyou, director, CEO; Hou Yameng, director, deputy general manager; Ma Dongming, independent director; Ge Weijun, independent director; Wang Li, CFO, deputy general manager and secretary of the board of directors; Jin Yanhua, deputy general manager;  Hou Luting, chairman of the board of supervisors, Fang Qin, employee representative supervisor

Major Products: Cosmetics, skincare sold by Proya, Timage, Off&Relax, Hapsode, Correctors, Insbaha, Uzero, Anya

New Products: Proya Ruby Serum 3.0

Comments: In 2023, Proya’s corporate revenue hit $1.34 billion (8.9 billion RMB), up 39.5% YoY, according to reports.

In May, at the China Conference of Cosmetics Science and Technology 15th Academic Seminar, Proya was honored with the “Outstanding R&D Team” award by the China Association of Fragrance Flavour and Cosmetic Industries. Individual R&D engineers received the titles of “Outstanding Engineer in the Cosmetics Industry” and “Emerging Engineer in the Cosmetics Industry,” according to the company.

In June, Proya was named one of the “Most Respected Companies 2023-2024” at the New Value, New Momentum Annual Conference, which was hosted by the Economic Observer.

Proya was the only domestic beauty company to receive the award. Officials said it excelled in six areas—corporate social responsibility, technological innovation and industry contribution, high-quality products/services, employee development and health, brand culture building and green sustainability.

For this year’s the “Most Respected Companies” selection, the committee analyzed the past three years of operational data from more than 8,000 companies, reviewed more than 17,000 valid survey questionnaires and conducted in-depth research across 12 fields. It shortlisted 100 companies and 50 received the “Most Respected Companies 2023-2024” award.

Sales: $877 million

Comments: Proya is a fast-growing Chinese beauty and personal care company. How fast? Sales soared nearly 38% last year, according to its financial report released in April. The company says it has achieved double-digit growth in revenue and net profit for five consecutive years.

Its flagship Proya brand accounts for the vast majority (approximately 82%) of total revenue. Proya says Timage, Off&Relax and Hapsode brands achieved triple-digit sales growth and profitability in 2022, according to the company.

What’s fueling this growth? Proya points to investment in R&D. It increased R&D expenditures on basic, applied and clinical research by 67.15% year-on-year to 128 million yuan ($17.7 million). Proya also expanded its R&D team to 229 employees last year, which represents more than 7% of its total workforce.

Proya has a Shanghai-based R&D center under construction and is set to open a Japanese R&D facility this year. In addition, research and development efforts are bolstered through industry-university collaborations.
In terms of IP, Proya says it holds 225 patents.

Proya owns a variety of beauty brands.