The First Quarter Report in 2024
Stock Code: 603605 Stock Abbreviation: Proya
Bond Code: 113634 Bond Abbreviation: Proya Convertible Bond
Proya Cosmetics Co., Ltd.
The First Quarter Report in 2024
The Board of Directors and all directors of the Company warrant that this
announcement does not contain any false records, misleading statements or material
omissions, and shall be legally liable for the truthfulness, accuracy and completeness of the
contents herein contained.
Important Notes
The Board of Directors, Board of Supervisors, directors, supervisors, and senior management of the
Company warrant that this Quarterly Report is authentic, accurate and complete, and does not contain
any false records, misleading statements or material omissions, and that they will be jointly and
severally liable therefor.
The CEO, CFO and the head of accounting department (accounting chief) of the Company warrant that
all financial statement information in the Quarterly Report is authentic, accurate and complete.
Have the financial statements for Q1 been audited?
"□ Yes" "√ No"
I. Key Financial Data
(I) Key accounting data and financial indicators
Unit: Yuan Currency: RMB
YOY change in the
Item The Reporting Period
Reporting Period (%)
Operating revenue 2,181,919,106.72 34.56
Net profit attributable to shareholders of
302,845,157.17 45.58
the listed company
Net profit attributable to shareholders of
the listed company, net of non-recurring 292,020,669.63 47.50
profit and loss
Net cash flow from operating activities 430,862,423.81 5.15
Basic earnings per share (RMB per 0.76 46.15
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The First Quarter Report in 2024
share)
Diluted earnings per share (RMB per
0.75 47.06
share)
Up by 1.20 percentage
Weighted average ROE (%) 6.89
points
Change at the end of
End of the Reporting the Reporting Period
End of prior year
Period over the end of prior
year (%)
Total assets 7,748,165,980.55 7,323,078,222.45 5.80
Owner's equity attributable
to shareholders of the 4,495,394,478.16 4,349,545,381.60 3.35
listed company
(II) Items and amounts of non-recurring profit and loss
"√ Applicable" "□ Not applicable"
Unit: Yuan Currency: RMB
Amount for the current
Items of non-recurring profit and loss Remarks
period
Gains and losses on disposal of non-current assets,
including the offsetting portion with the provision -234,262.41
accrued for impairment of assets
Government subsidies included in the current
profit or loss, except for those closely related to
the Company's normal operation, in compliance
with the requirements of national policies, granted 19,517,508.97
according to established standards, and with a
sustained impact on the Company's profits and
losses
Profit and loss from changes in fair value arising
from the holding of financial assets and liabilities
by non-financial enterprises, and profit and loss
arising from the disposal of financial assets and
liabilities, except for effective hedging business
related to the Company's normal operations
Fund occupation expense collected from the
non-financial enterprises included in the current
profit and loss
Gains or losses on authorizing others to invest or
manage assets
Profit and loss from entrusted loans
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Asset losses caused by force majeure factors such
as natural disasters
Reversal of provision for impairment of
receivables individually tested for impairment
Income generated in case the investment cost of
acquiring any subsidiary, associates and joint
venture is less than the net fair value of the
investee's identifiable assets when an investment
is acquired
Net current profit and loss of subsidiaries
generated from the merger of companies under
common control from the beginning of the period
to the date of merger
Gains or losses on exchange of non-monetary
assets
Profit and loss on restructuring of debts
One-time expenses incurred by the Company due
to the discontinuation of related operating
activities, such as expenses for resettling
employees
One-time impact of the adjustment of tax,
accounting and other laws and regulations on the
current profit and loss
One-time confirmation of share-based payment
fees due to cancellation or modification of equity
incentive plans
Profit and loss arising from changes in fair value
of employee compensation payable after the
exercise date for cash-settled share-based
payments
Profit and loss arising from changes in the fair
value of investment property subsequently
measured with the fair value model
Income generated from obviously unfairly priced
transactions
Profit and loss arising from contingent events
unrelated to the Company's normal operations
Custody fee income from entrusted operations
Other non-operating revenue and expenses other
715,806.60
than the items mentioned above
Other profit and loss items under the definition of Gains on disposal of
non-recurring profit and loss -970.33 long-term equity
investments
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The First Quarter Report in 2024
Less: Income tax impact 4,953,318.45
Impact of minority interests (after tax) 4,220,276.84
Total 10,824,487.54
The reasons should be explained for the non-recurring gains and losses items with large amounts defined
by the Company but not set out in the Explanatory Announcement on Information Disclosure for
Companies Offering Their Securities to the Public No.1 - Non-recurring Gains and Losses, and the
non-recurring profit and loss items listed in Explanatory Announcement on Information Disclosure for
Companies Offering Their Securities to the Public No.1 - Non-recurring Gains and Losses as recurring
gains and losses items.
"□ Applicable" "√ Not applicable"
(III) Changes in key accounting data and financial indicators and reasons
"√ Applicable" "□ Not applicable"
Change Primary reasons
Item
ratio (%)
Operating revenue 34.56 Mainly due to increased online sales.
Net profit attributable to
Mainly due to: (1) YOY increase in net profit; (2) YOY
shareholders of the listed 45.58
decrease in gains or losses attributable to minority interests.
company
Net profit attributable to
Mainly due to: (1) YOY increase in net profit attributable to
shareholders of the listed
shareholders of the listed company; (2) non-recurring gains
company, net of 47.50
and losses attributable to shareholders of the listed
non-recurring profit and
company remaining basically unchanged YOY.
loss
Basic earnings per share Mainly due to YOY increase in net profit attributable to
46.15
(RMB per share) shareholders of the listed company.
Mainly due to YOY increase in net profit attributable to
Diluted earnings per share
47.06 shareholders of the listed company, net of non-recurring
(RMB per share)
profit and loss.
II.Shareholder Information
(I) Statement of the total number of ordinary shareholders, the number of preferred shareholders with
restored voting rights, and the shareholding of top 10 shareholders
Unit: Share
Total number of
ordinary Total number of preferred shareholders with
shareholders by 23,713 restored voting rights as of the end of the 0
the end of the Reporting Period (if any)
Reporting Period
Shareholdings of top 10 shareholders (excluding shares lent through refinancing)
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The First Quarter Report in 2024
Number of Pledged, marked or
shares held frozen
Name of Nature of Number of Shareholding
with
shareholder shareholder shares held ratio (%) Share
restrictions on Number
sales status
Domestic
HOU Juncheng natural 136,739,037 34.46 0 None
person
HKSCC Other 74,441,307 18.76 0 None
Domestic
17,041,2
FANG Yuyou natural 59,625,258 15.03 0 Frozen
69
person
GIC PRIVATE
Other 6,917,775 1.74 0 None
LIMITED
National Social
Security Fund Other 5,079,356 1.28 0 None
Portfolio 109
Aberdeen
Standard
Investments
(Asia) Limited -
Other 4,857,413 1.22 0 None
Aberdeen Fund -
China A-Share
Sustainable
Equity Fund
CCB - CUAM
Consumer
Industry Hybrid Other 4,300,058 1.08 0 None
Securities
Investment Fund
ICBC - Invesco
Great Wall
Emerging
Other 3,332,000 0.84 0 None
Growth Hybrid
Securities
Investment Fund
TEMASEK
FULLERTON
Other 2,997,394 0.76 0 None
ALPHA PTE
LTD
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The First Quarter Report in 2024
China Life
Insurance
Company
Limited -
Traditional - Other 2,654,254 0.67 0 None
General
insurance
products - 005L
- CT001 Hu
Shareholdings of top 10 shareholders without restrictions on sales
Type and number of shares
Name of
Number of unrestricted tradable shares held Type of Number
shareholder
shares
RMB
HOU Juncheng 136,739,037 ordinary 136,739,037
shares
RMB
HKSCC 74,441,307 ordinary 74,441,307
shares
RMB
FANG Yuyou 59,625,258 ordinary 59,625,258
shares
RMB
GIC PRIVATE
6,917,775 ordinary 6,917,775
LIMITED
shares
National Social RMB
Security Fund 5,079,356 ordinary 5,079,356
Portfolio 109 shares
Aberdeen
Standard
Investments
RMB
(Asia) Limited -
4,857,413 ordinary 4,857,413
Aberdeen Fund -
shares
China A-Share
Sustainable
Equity Fund
CCB - CUAM
Consumer RMB
Industry Hybrid 4,300,058 ordinary 4,300,058
Securities shares
Investment Fund
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The First Quarter Report in 2024
ICBC - Invesco
Great Wall
RMB
Emerging
3,332,000 ordinary 3,332,000
Growth Hybrid
shares
Securities
Investment Fund
TEMASEK
RMB
FULLERTON
2,997,394 ordinary 2,997,394
ALPHA PTE
shares
LTD
China Life
Insurance
Company
Limited - RMB
Traditional - 2,654,254 ordinary 2,654,254
General shares
insurance
products - 005L
- CT001 Hu
Association or
concerted action
FANG Yuyou is the younger brother of HOU Juncheng's spouse FANG Aiqin, so
between the
HOU Juncheng and FANG Yuyou are associated.
shareholders
mentioned above
Top 10
shareholders and
top 10
unrestricted
The National Social Security Fund Portfolio 109 participated in the lending through
shareholders
refinancing. For details, refer to “Shareholders holding more than 5% of the shares,
participating in
top 10 shareholders and top 10 unrestricted tradable shareholders participating in
margin financing
lending of shares through refinancing”.
and securities
lending and
refinancing (if
any)
Shareholders holding more than 5% of the shares, top 10 shareholders and top 10 unrestricted tradable
shareholders participating in lending of shares through refinancing
"√ Applicable" "□ Not applicable"
Unit: Share
Shareholders holding more than 5% of the shares, top 10 shareholders and top 10 unrestricted tradable
shareholders participating in lending of shares through refinancing
Name of Shareholdings in Shares lent but not Shareholdings in the Shares lent but not
shareholder regular and credit returned at the regular and credit returned at the end
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The First Quarter Report in 2024
(full name) accounts at the beginning of the accounts at the end of the period
beginning of the period period of the period
Total Total Ratio Total Ratio Total Ratio
Ratio (%)
number number (%) number (%) number (%)
National
Social
Security
3,010,974 0.759 88,800 0.022 5,079,356 1.280 7,300 0.002
Fund
Portfolio
109
Changes in top 10 shareholders and top 10 unrestricted tradable shareholders over the previous period
due to lending or return through refinancing
"√□ Applicable" "√ Not applicable"
III. Other Notes
Other important information on the Company's operation during the Reporting Period to be made known
to investors
"□ Applicable" "√ Not applicable"
IV. Quarterly Financial Statements
(I) Type of audit opinion
"□ Applicable" "√ Not applicable"
(II) Financial statements
Consolidated Balance Sheet
March 31, 2024
Prepared by: Proya Cosmetics Co., Ltd.
Unit: Yuan Currency: RMB Audit type: Unaudited
Item March 31, 2024 December 31, 2023
Current assets:
Cash and cash equivalents 4,206,013,215.03 4,011,085,558.07
Provision for settlement
Lendings to banks and other
financial institutions
Held-for trading financial assets
Derivative financial assets
Bill receivable
Accounts receivable 270,836,706.36 344,570,196.54
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The First Quarter Report in 2024
Receivables financing 9,029,552.72 7,378,700.06
Prepayments 207,289,265.25 202,870,195.58
Premiums receivable
Reinsurance accounts receivable
Provision for reinsurance contract
receivable
Other receivables 80,768,706.84 81,966,213.90
Including: Interest receivable
Dividends receivable
Financial assets purchased under
resale agreements
Inventory 1,066,051,380.78 797,215,155.68
Including: Data resources
Contract assets
Assets held for sale
Non-current assets due within one
year
Other current assets 84,175,406.15 99,765,073.07
Total current assets 5,924,164,233.13 5,544,851,092.90
Non-current assets:
Loans and advances
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 113,574,158.49 113,574,158.49
Other equity instrument
107,660,400.00 107,660,400.00
investments
Other non-current financial assets
Investment property 66,091,147.77 66,156,471.91
Fixed assets 830,280,853.70 827,350,985.29
Construction in progress 87,015,604.75 52,038,642.94
Productive biological assets
Oil and gas assets
Right-of-use assets 13,136,326.57 14,104,821.34
Intangible assets 400,252,770.65 404,688,009.16
Including: Data resources
Development cost
Including: Data resources
Goodwill
Long-term deferred expenses 68,991,592.66 67,184,328.83
Deferred tax assets 128,799,468.68 108,494,364.60
Other non-current assets 8,199,424.15 16,974,946.99
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Total non-current assets 1,824,001,747.42 1,778,227,129.55
Total assets 7,748,165,980.55 7,323,078,222.45
Current liabilities:
Short-term bank loans 200,155,555.56 200,155,555.56
Borrowings from the central bank
Loans from banks and other
financial institutions
Trading financial liabilities
Derivative financial liabilities
Bills payable 36,959,074.14
Accounts payable 1,323,031,734.72 1,018,522,358.60
Advances from customers 59,484.40 30,514.45
Contract liabilities 324,316,973.57 301,014,873.58
Financial assets sold under
repurchase agreements
Deposits from customers and
interbank
Receivings from vicariously
traded securities
Receivings from vicariously sold
securities
Employee benefits payable 100,818,457.70 166,444,494.43
Tax payable 262,583,420.43 222,765,869.94
Other payables 152,684,566.57 155,345,148.68
Including: Interest payable
Dividends payable
Fees and commissions payable
Reinsurance accounts payable
Held-for-sale liabilities
Non-current liabilities due within
3,514,438.32 3,970,060.11
one year
Other current liabilities 18,271,268.15 15,022,173.42
Total current liabilities 2,385,435,899.42 2,120,230,122.91
Non-current liabilities:
Reserves for insurance contracts
Long-term bank loans
Bonds payable 761,659,403.76 753,119,902.88
Including: Preferred stock
Perpetual bonds
Lease liabilities 9,451,502.15 9,970,306.87
Long-term payables
Long-term employee benefits
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payable
Estimated liabilities 27,654,713.12 33,063,299.45
Deferred income 5,863,586.83 6,383,359.33
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities 804,629,205.86 802,536,868.53
Total liabilities 3,190,065,105.28 2,922,766,991.44
Owner's equity (or Shareholders' equity):
Paid-in capital (or share capital) 396,757,305.00 396,757,184.00
Other equity instruments 50,893,173.15 50,893,986.60
Including: Preferred stock
Perpetual bonds
Capital reserve 860,266,216.82 864,150,974.43
Less: Treasury stock 300,028,955.79 146,966,735.61
Other comprehensive income -53,895,491.28 -53,847,100.91
Special reserve
Surplus reserve 198,411,582.50 198,411,582.50
General risk reserve
Undistributed profit 3,342,990,647.76 3,040,145,490.59
Total owner's equity (or
shareholders' equity) attributable to 4,495,394,478.16 4,349,545,381.60
the parent company
Minority interests 62,706,397.11 50,765,849.41
Total owner's equity (or
4,558,100,875.27 4,400,311,231.01
shareholders' equity)
Total liabilities and owners'
7,748,165,980.55 7,323,078,222.45
equity (or shareholders' equity)
Legal representative: HOU Juncheng Person in charge of accounting: WANG Li Head of the
accounting organization: WANG Li
Consolidated Income Statement
January to March 2024
Prepared by: Proya Cosmetics Co., Ltd.
Unit: Yuan Currency: RMB Audit type: Unaudited
The First Quarter The First Quarter Report
Item
Report in 2024 in 2023
I. Gross revenue 2,181,919,106.72 1,621,514,039.25
Including: Operating revenue 2,181,919,106.72 1,621,514,039.25
Interest income
Earned premium
Fee and commission income
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II. Total operating expenses 1,828,607,491.90 1,337,795,468.79
Including: Operating expenses 652,280,654.88 485,918,295.64
Interest expenses
Fee and commissions expenses
Surrender value
Net claims paid
Net provision for insurance liability
reserves
Bond insurance expenses
Reinsurance expenses
Taxes and surcharges 19,606,650.45 17,803,764.91
Sales expenses 1,022,081,255.89 700,922,277.91
Administrative expenses 97,301,227.25 95,175,298.34
R&D expenses 46,976,210.23 51,874,237.80
Financial expenses -9,638,506.80 -13,898,405.81
Including: Interest expenses 5,225,372.13 2,779,348.01
Interest income 16,968,192.58 16,622,896.43
Add: Other income 39,285,802.18 20,608,636.91
Investment income ("-" for losses) -970.33 -1,024,160.51
Including: Income from investment
-1,000,000.00
in associates and joint ventures
Gains from derecognition of
financial assets measured at amortized cost
Exchange gains ("-" for losses)
Net exposure hedging gains (“-” for
losses)
Income from changes in fair value
("-" for losses)
Credit impairment losses ("-" for
5,160,314.35 4,839,153.07
losses)
Asset impairment losses ("-" for
-1,662,002.41 -25,945,268.31
losses)
Gains on disposal of assets ("-" for
-380,803.60
losses)
III. Operating profit ("-" for losses) 395,713,955.01 282,196,931.62
Add: Non-Operating revenue 814,221.09 603,802.94
Less: Non-operating expenses 98,414.49 2,431,554.13
IV. Total profit ("-" for total losses) 396,429,761.61 280,369,180.43
Less: Income tax expenses 81,455,304.66 58,204,674.92
V. Net profit ("-" for net losses) 314,974,456.95 222,164,505.51
(I) Classification by continuity of operation
1. Net profit from continuous operation
314,974,456.95 222,164,505.51
("-" for net losses)
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2. Net profit from discontinued
operation ("-" for net losses)
(II) Classification by ownership
1. Net profit attributable to shareholders
302,845,157.17 208,032,832.00
of the parent company (“-” for net losses)
2. Minority interest income (“-” for net
12,129,299.78 14,131,673.51
losses)
VI. Other comprehensive income, net of tax -48,390.37 304,058.24
(I) Other comprehensive income (net of
tax) attributable to owners of the parent -48,390.37 304,058.24
company
1. Other comprehensive income that
cannot be reclassified to profit or loss
(1) Changes in re-measurement of defined
benefit plans
(2) Other comprehensive income that
cannot be reclassified into profit or loss
under the equity method
(3) Changes in the fair value of other
equity instrument investments
(4) Changes in the fair value of the
Company's own credit risks
2. Other comprehensive income that
-48,390.37 304,058.24
will be reclassified into profit or loss
(1) Other comprehensive income that can
be reclassified into profit or loss under the
equity method
(2) Changes in the fair value of other debt
investments
(3) Amount of financial assets reclassified
into other comprehensive income
(4) Provision for credit impairment of
other debt investments
(5) Cash flow hedging reserve
(6) Differences in translation of foreign
-48,390.37 304,058.24
currency financial statements
(7) Others
(II) Other comprehensive income (net of
tax) attributable to minority shareholders
VII. Total comprehensive income 314,926,066.58 222,468,563.75
(I) Total comprehensive income
302,796,766.80 208,336,890.24
attributable to owners of the parent company
(II) Total comprehensive income 12,129,299.78 14,131,673.51
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attributable to minority shareholders
VIII. Earnings per share:
(I) Basic earnings per share (RMB per
0.76 0.52
share)
(II) Diluted earnings per share (RMB per
0.75 0.51
share)
Legal representative: HOU Juncheng Person in charge of accounting: WANG Li Head of the
accounting organization: WANG Li
Consolidated Cash Flow Statement
January to March 2024
Prepared by: Proya Cosmetics Co., Ltd.
Unit: Yuan Currency: RMB Audit type: Unaudited
Item The First Quarter Report The First Quarter Report
in 2024 in 2023
I. Cash flows from operating activities:
Cash receipts from sales of goods and
2,641,344,251.62 1,837,791,496.56
rendering of services
Net increase in deposits from
customers and due to banks and other
financial institutions
Net increase in borrowings from the
central bank
Net increase in loans from other
financial institutions
Cash received from premiums under
original insurance contracts
Net cash received from reinsurance
operations
Net increase in deposits and
investments from policyholders
Cash received from interest, fees and
commissions
Net increase in loans from banks and
other financial institutions
Net increase in repurchase operations
Net cash received from vicariously
traded securities
Tax refund received 2,642,750.32
Other cash received relating to
45,161,252.39 62,019,541.04
operating activities
Subtotal of cash inflows from
2,689,148,254.33 1,899,811,037.60
operating activities
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Cash received from purchasing goods
533,268,741.97 313,127,083.34
and accepting labor services
Net increase in loans and advances
Net increase in deposits with the
central bank and other banks
Cash paid for original insurance
contract claims
Net increase in placements with banks
and other financial institutions
Cash paid for interest, fees and
commissions
Cash paid for policy dividends
Cash paid to and for employees 248,355,543.70 208,007,778.64
Payment of all types of taxes 198,810,206.71 199,179,137.21
Other cash paid relating to operating
1,277,851,338.14 769,723,077.97
activities
Subtotal of cash outflows from
2,258,285,830.52 1,490,037,077.16
operating activities
Net cash flow from operating
430,862,423.81 409,773,960.44
activities
II. Cash flows from investing activities:
Cash back on investments
Cash received from investment
income
Net cash received from the disposal of
fixed assets, intangible assets and other 1,831,479.00 338,439.51
long-term assets
Net cash received from the disposal of
subsidiaries and other units
Other cash received relating to
investing activities
Subtotal of cash inflows from
1,831,479.00 338,439.51
investing activities
Cash paid for the acquisition and
construction of fixed assets, intangible 81,492,603.91 42,428,654.52
assets and other long-term assets
Cash paid for investments 6,818,181.82
Net increase in pledge loans
Net cash paid for the acquisition of
subsidiaries and other units
Other cash paid relating to investing
activities
Subtotal of cash outflows from 81,492,603.91 49,246,836.34
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The First Quarter Report in 2024
investing activities
Net cash flows from investing
-79,661,124.91 -48,908,396.83
activities
III. Cash flows from financing activities:
Cash received from attraction of
50,000.00
investments
Including: Cash received from
attraction of investments from minority 50,000.00
shareholders
Cash received from borrowings 100,000,000.00
Other cash received relating to
financing activities
Subtotal of cash inflows from
50,000.00 100,000,000.00
financing activities
Cash paid for debt repayments 100,000,000.00
Cash paid for distribution of
dividends and profits or payment of 1,413,123.04 1,302,222.22
interests
Including: Dividends and profits paid
by subsidiaries to minority shareholders
Other cash paid relating to financing
153,708,476.41
activities
Subtotal of cash outflows from
155,121,599.45 101,302,222.22
financing activities
Net cash flows from financing
-155,071,599.45 -1,302,222.22
activities
IV. Effect of changes in exchange
-48,390.37 304,058.24
rates on cash and cash equivalents
V. Net increase in cash and cash
196,081,309.08 359,867,399.63
equivalents
Add: Beginning balance of cash and
3,659,267,712.03 3,125,333,085.05
cash equivalents
VI. Ending balance of cash and cash
3,855,349,021.11 3,485,200,484.68
equivalents
Legal representative: HOU Juncheng Person in charge of accounting: WANG Li Head of the
accounting organization: WANG Li
(III) Adjustments to financial statements at the beginning of the year upon initial adoption of new
accounting standards or interpretation of standards since 2024
"□ Applicable" "√ Not applicable"
End of the announcement.
Board of Directors of Proya Cosmetics Co., Ltd
April 17, 2024
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