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Proya 2026 Interim Report: Acquisition Consolidation Boosts Profit, Core Business Profitability Under Pressure
Proya released its 2026 interim report. Thanks to the consolidation effect from acquiring Flower Knows, net profit attributable to shareholders surged 46.26% year on year to 1.168 billion yuan, but non-GAAP net profit fell 13.80% to 664 million yuan. The company achieved operating revenue of 5.375 billion yuan, a slight increase of 0.24%, and proposed a generous cash dividend of 11.80 yuan per 10 shares, totaling about 462 million yuan. Combined with the first-half buyback amount, the cash dividend payout ratio exceeded 50% of net profit. The main brand Proya recorded revenue of 3.692 billion yuan, down 7.19% year on year. The second growth curve brand Timage brought in 551 million yuan, down 21.93%. The hair care brand Off&Relax posted revenue of 477 million yuan, surging 70.81%, while Yuanseta recorded 313 million yuan, soaring 222.23%. The performance change was mainly due to the step acquisition of Shenzhen Flower Knows E-commerce Co., Ltd., which formed a business combination not under common control. The equity held before the purchase date was remeasured at fair value, generating investment income of about 445 million yuan. Excluding this factor, core business profitability remained under pressure, with the selling expense ratio rising to 53.13% and image promotion and advertising expenses increasing by 175 million yuan.