| Category | Functional Skincare |
| Founded | 2003 |
| Headquarters | Hangzhou |
| Listing | Listed on the Shanghai Stock Exchange · 603605.SH (Nov 2017) |
| Latest revenue | FY2025 revenue RMB 10.60bn, net profit RMB 1.50bn |
| Hero SKUs | Double Anti Serum / Ruby Serum / Origin Force Cream |
Brand History
Proya was founded in Hangzhou in 2003 by Hou Juncheng, building mass-priced products on a marine-skincare concept and national CS-channel distribution. It listed on the Shanghai Stock Exchange in November 2017 (603605), among the first Chinese beauty companies to go public with its own brands at the core.
The 2019-2020 pivot defined the modern company: long-tail SKUs were cut in favour of hero products plus content marketing — Double Anti Serum, Ruby Serum and Origin Force Cream covering antioxidant, anti-wrinkle and barrier repair — amplified by 'morning C, night A' education on Douyin and Tmall. Revenue reached RMB 8.91bn in 2023, crossed RMB 10bn in 2024 (RMB 10.78bn) and held at RMB 10.60bn in 2025, ranking first among listed domestic beauty groups for a third year. Timage, Off&Relax, Yuefuti and CORRECTORS now form a multi-brand portfolio.
Hero Products
Three-Year Financials
| Year | Revenue (RMB bn) | YoY | Net profit (RMB bn) |
|---|---|---|---|
| 2023 | 89.05 | +39.45% | 11.94 |
| 2024 | 107.78 | +21.04% | 15.52 |
| 2025 | 105.97 | -1.68% | 14.98 |
Brand-level：By brand in 2025: Proya RMB 7.69bn, Timage RMB 1.26bn, Off&Relax RMB 744m (+102.19%) — the multi-brand portfolio now contributes at scale.
Source：Company annual reports 2023-2025; C2CC Media 2025 domestic beauty ranking
Company Coverage
- 2026-04FY2025: RMB 10.60bn revenue, RMB 1.50bn net profit
A third year as the top domestic group, though the flagship brand declined — multi-brand succession is now the key question.
Source：Annual report - 2026-03Timage delivers RMB 1.26bn in 2025
Timage and Off&Relax form the second curve, the latter growing 102.19% year on year.
Source：Annual report / C2CC - 2025-11Top domestic brand on Tmall Double 11
The Double Anti, Ruby and Origin Force lines drove most of the volume.
Source：Platform ranking
Observation: Proya's real asset is lifecycle management across three hero lines, each tied to a clear efficacy proposition and extendable through reformulation. The risk is not the flagship's decline but whether Timage and Off&Relax can become a second RMB 1bn-plus brand within three years; Timage has passed RMB 1.2bn and Off&Relax is growing above 100%, so succession is starting to look credible.