[三季报]珀莱雅(603605):珀莱雅化妆品股份有限公司2023年第三季度报告(英文版)

2023-10-24 26990阅读

原标题:珀莱雅:珀莱雅化妆品股份有限公司2023年第三季度报告(英文版)

stock Code: 603605 Stock Abbreviation: Proya
Bond Code: 113634 Bond Abbreviation: Proya Convertible Bond
Proya Cosmetics Co., Ltd.
The Third Quarter Report in 2023

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 Note:
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 the third quarter been audited? □ Yes √ No

I. Key Financial Data
(I) Key accounting data and financial indicators
Unit: Yuan Currency: RMB

Item The Reporting Period YOY change in the Reporting Period (%) From the beginning of the year to the end of the Reporting Period YOY change in the period from the beginning of the year to the end of the Reporting Period(%)
Operating revenue 1,621,577,872.94 21.36 5,248,569,751.16 32.47
Net profit attributable to shareholders of the listed company 246,469,143.36 24.24 745,963,141.07 50.60
Net profit attributable to shareholders of the listed company, net of non- recurring profit and loss 246,996,239.57 25.95 725,888,091.84 52.18
Net cash flow from operating activities N/A N/A 799,016,528.87 3.52
Basic earnings per share (RMB per share) 0.62 -12.68 1.87 6.25
Diluted earnings per share (RMB per share) 0.61 -12.86 1.85 6.32
Weighted average ROE (%) 6.22 Decrease by 0.37 percentage point 19.52 Up by 3.01 percentage points
  End of the Reporting Period End of prior year Change at the end of the Reporting Period over the end of prior year(%)  
Total assets 6,875,342,521.69 5,778,071,824.19 18.99  
Owner's equity attributable to shareholders of the listed company 3,938,300,114.87 3,524,488,659.96 16.02  
Note: “The Reporting Period” refers to the three-month period from the beginning of this quarter to the
end of this quarter, as follows.
(II) Items and amounts of non-recurring profit and loss
Unit: Yuan Currency: RMB

Item Amount in the Reporting Period Amount in the period from the beginning of the year to the end of the Reporting Period Remarks
Gains and losses from disposal of non-current assets   -217,694.21  
Unauthorized approval, or no formal approval, or occasional tax refund or relief      
Government subsidies included in profit or loss for the current 1,038,608.03 35,677,684.26  
period , except for those closely related to the Company's normal operation and granted constantly at a fixed amount or quantity according to certain standard based on state policies      
Fund occupation fees payable by non- financial businesses including profit and loss in the current period      
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      
Gains or losses on exchange of non- monetary assets      
Gains or losses on authorizing others to invest or manage assets      
Provisions for various asset impairments due to force majeure factors such as natural disasters      
Profit and loss on restructuring of debts      
Restructuring expenses, such as re-settlement expenses and integration cost      
Profit and loss in excess of the fair value      
generated from obviously unfairly priced transactions      
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      
Profit and loss arising from contingent events unrelated to the Company's normal operations      
Profit and loss from changes in fair value arising from the holding of trading financial assets, derivative financial assets, trading financial liabilities and derivative financial liabilities, and investment gain from the disposal of trading financial assets, derivative financial assets, trading financial liabilities, derivative financial liabilities and other debt investments, except for effective hedging business related to the Company's normal operations      
Reversal of provision for impairment of receivables and contract assets   421,794.92  
individually tested for impairment      
Profit and loss from entrusted loans      
Profit and loss arising from changes in the fair value of investment property subsequently measured with the fair value model      
Impact of one-time adjustments on the current profit and loss according to the requirements of tax and accounting laws and regulations on the current profit and loss      
Custody fee income from entrusted operations      
Other non-operating revenue and expenses other than the items mentioned above -1,216,705.15 -2,090,032.50  
Other profit and loss items under the definition of non- recurring profit and loss      
Less: Income tax impact 132,904.48 7,771,472.94  
Impact of minority interests (after tax) 216,094.61 5,945,230.30  
Total -527,096.21 20,075,049.23  

Description of non-recurring profit and loss items defined in the Explanatory Announcement No. 1 on
Information Disclosure for Companies Offering Their Securities to the Public - Non-recurring Profit and
Loss defined as recurring profit and loss items
□ Applicable √ Not applicable
(III) Changes in key accounting data and financial indicators and reasons √ Applicable □ Not applicable

Item Change ratio (%) Primary reasons
Operating revenue (From the beginning of the year to the end of the Reporting Period) 32.47 Mainly because: 1. Operating revenue from online channel increased YOY; 2. Brands in the second growth curve grew rapidly.
Net profit attributable to shareholders of the listed company (From the beginning of the year to the end of the Reporting Period) 50.60 Mainly because: 1. Total profit increased by 57.59% YOY: Operating revenue increased by 32.47% YOY, gross profit increased by 35.81% YOY (gross profit margin increased YOY), and expenses for four items for the period increased by 32.15% YOY. 2. Net profit increased by 53.70% or RMB270.74million YOY.
Net profit attributable to shareholders of the listed company, net of non-recurring profit and loss (From the beginning of the year to the end of the Reporting Period) 52.18 The same as above.

II. Shareholders 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 shareholders by the end of the Reporting Period 21,207 Total number of preferred shareholders with restored voting rights as of the end of the Reporting Period (if any) 0      
Shareholdings of top 10 shareholders            
Name of shareholder Nature of shareholder Number of shares held Shareholding ratio (%) Number of shares held with restrictions on sales Pledged, marked or frozen  
          Share status Number
HOU Juncheng Domestic natural person 136,739,037 34.46 0 None  
HKSCC Other 77,444,664 19.52 0 None  
FANG Yuyou Domestic natural person 59,625,258 15.03 0 Frozen 17,041, 269
Aberdeen Standard Investments (Asia) Limited - Aberdeen Standard - China A-Share Equity Fund Other 5,491,413 1.38 0 None  
CCB - CUAM Consumer Industry Hybrid Securities Investment Fund Other 4,400,018 1.11 0 None  
ICBC - Invesco Great Wall Emerging Growth Hybrid Securities Investment Fund Other 3,332,000 0.84 0 None  
TEMASEK FULLERTON ALPHA PTE LTD Other 2,983,902 0.75 0 None  
GIC PRIVATE LIMITED Other 2,801,197 0.71 0 None  
National Social Security Fund Portfolio 109 Other 2,489,742 0.63 0 None  
China Life Insurance Company Limited - Traditional - General insurance products - 005L - CT001 Hu Other 1,874,497 0.47 0 None  
Shareholdings of top 10 shareholders without restrictions on sales            
Name of shareholder Number of unrestricted tradable shares held Type and number of shares        
    Type of shares Number      
HOU Juncheng 136,739,037 RMB ordinary shares 136,739,037      
HKSCC 77,444,664 RMB ordinary shares 77,444,664      
FANG Yuyou 59,625,258 RMB ordinary shares 59,625,258      
Aberdeen Standard Investments (Asia) Limited - Aberdeen Standard - China A-Share Equity Fund 5,491,413 RMB ordinary shares 5,491,413      

CCB - CUAM Consumer Industry Hybrid Securities Investment Fund 4,400,018 RMB ordinary shares 4,400,018
ICBC - Invesco Great Wall Emerging Growth Hybrid Securities Investment Fund 3,332,000 RMB ordinary shares 3,332,000
TEMASEK FULLERTON ALPHA PTE LTD 2,983,902 RMB ordinary shares 2,983,902
GIC PRIVATE LIMITED 2,801,197 RMB ordinary shares 2,801,197
National Social Security Fund Portfolio 109 2,489,742 RMB ordinary shares 2,489,742
China Life Insurance Company Limited - Traditional - General insurance products - 005L - CT001 Hu 1,874,497 RMB ordinary shares 1,874,497
Association or concerted action between the shareholders mentioned above FANG Yuyou is the younger brother of HOU Juncheng's spouse FANG Aiqin, so HOU Juncheng and FANG Yuyou are associated.    
Top 10 shareholders and top 10 unrestricted shareholders participating in margin financing and securities lending and refinancing (if any) None    

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
September 30, 2023
Prepared by: Proya Cosmetics Co., Ltd.

Unit: Yuan Currency: RMB Audit type: Unaudited

Item September 30, 2023 December 31, 2022
Current assets:    
Cash and cash equivalents 3,519,574,545.54 3,161,003,085.05
Balances with clearing agencies    
Placements with banks and other financial institutions    
Held-for trading financial assets    
Derivative financial assets    
Bill receivable    
Accounts receivable 201,147,221.97 102,157,898.41
Receivables financing 724,991.20  
Prepayments 247,344,514.02 91,483,523.15
Premiums receivable    
Reinsurance accounts receivable    
Provision for reinsurance contract receivable    
Other receivables 11,222,939.94 73,564,083.63
Including: Interest receivable    
Dividends receivable    
Financial assets purchased under resale agreements    
Inventory 1,087,705,500.14 669,051,326.73
Contract assets    
Assets held for sale    
Non-current assets due within one year    
Other current assets 61,611,483.74 49,735,996.57
Total current assets 5,129,331,196.55 4,146,995,913.54
Non-current assets:    
Loans and advances    
Debt investments    
Other debt investments    
Long-term receivables    
Long-term equity investments 132,484,844.54 138,533,377.46
Other equity instrument investments 146,402,400.00 146,402,400.00
Other non-current financial assets    
Investment property 63,230,281.56 68,654,700.81
Fixed assets 553,708,433.05 570,376,309.67
Construction in progress 295,767,337.50 207,378,935.86
Productive biological assets    
Oil and gas assets    
Right-of-use assets 14,989,232.44 6,410,634.25
Intangible assets 408,546,300.29 420,316,883.26
Development cost    
Goodwill    
Long-term deferred expenses 21,302,279.91 19,142,604.46
Deferred tax assets 72,641,747.92 48,305,338.82
Other non-current assets 36,938,467.93 5,554,726.06
Total non-current assets 1,746,011,325.14 1,631,075,910.65
Total assets 6,875,342,521.69 5,778,071,824.19
Current liabilities:    
Short-term borrowings 200,155,555.56 200,195,890.41
Borrowings from the central bank    
Loans from banks and other financial institutions    
Trading financial liabilities    
Derivative financial liabilities    
Bills payable 56,180,884.74 69,626,352.12
Accounts payable 1,165,428,904.25 475,427,484.23
Advances from customers 85,670.30 464,328.26
Contract liabilities 137,764,033.04 174,602,833.91
Financial assets sold under repurchase agreements    
Due from customers and banks    
Receivings from vicariously traded securities    
Receivings from vicariously sold securities    
Employee benefits payable 100,451,240.42 124,938,749.36
Tax payable 72,726,688.95 152,918,871.45
Other payables 353,714,841.60 216,392,183.41
Including: Interest payable    
Dividends payable    
Fees and commissions payable    
Reinsurance accounts payable    
Held-for-sale liabilities    
Non-current liabilities due within one year 3,867,523.52 2,549,452.14
Other current liabilities 5,567,497.36 10,820,499.59
Total current liabilities 2,095,942,839.74 1,427,936,644.88
Non-current liabilities:    
Reserves for insurance contracts    
Long-term borrowings    
Bonds payable 748,969,592.17 724,491,557.93
Including: Preferred stock    
Perpetual bonds    
Lease liabilities 10,413,791.92 3,718,119.41
Long-term payables    
Long-term employee benefits payable    
Estimated liabilities 9,802,669.15 59,282,928.68
Deferred income 5,187,008.83 6,399,811.33
Deferred tax liabilities 24,046,079.33 19,019,431.67
Other non-current liabilities    
Total non-current liabilities 798,419,141.40 812,911,849.02
Total liabilities 2,894,361,981.14 2,240,848,493.90
Owner's equity (or shareholders' equity):    
Paid-in capital (or share capital) 396,823,346.00 283,519,469.00
Other equity instruments 50,895,398.33 50,903,510.12
Including: Preferred stock    
Perpetual bonds    
Capital reserve 858,427,824.93 914,815,786.22
Less: Treasury stock 157,302,812.46 164,976,000.00
Other comprehensive income -1,195,714.28 -1,918,603.07
Special reserve    
Surplus reserve 141,759,734.50 141,759,734.50
General risk reserve    
Undistributed profit 2,648,892,337.85 2,300,384,763.19
Total owner's equity (or shareholders' equity) attributable to the parent company 3,938,300,114.87 3,524,488,659.96
Minority interests 42,680,425.68 12,734,670.33
Total owner's equity (or shareholders' equity) 3,980,980,540.55 3,537,223,330.29
Total liabilities and owners' equity (or shareholders' equity) 6,875,342,521.69 5,778,071,824.19

The chairman of the Company: HOU Juncheng Person in charge of accounting: WANG Li Head of the Accounting Department: WANG Li

Consolidated Income Statement
January to September 2023
Prepared by: Proya Cosmetics Co., Ltd.
Unit: Yuan Currency: RMB Audit type: Unaudited

Item The first three quarters of 2023 (Jan. to Sep.) The first three quarters of 2022 (Jan. to Sep.)
I. Gross revenue 5,248,569,751.16 3,962,074,031.96
Including: Operating revenue 5,248,569,751.16 3,962,074,031.96
Interest income    
Earned premium    
Fee and commission income    
II. Total operating expenses 4,204,094,774.90 3,246,045,594.62
Including: Operating expenses 1,512,852,437.64 1,211,286,056.12
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 48,632,492.30 35,018,710.91
Sales expenses 2,271,124,330.57 1,700,908,422.25
Administrative expenses 286,657,915.37 235,718,481.10
R&D expenses 128,863,076.27 95,367,183.34
Financial expenses -44,035,477.25 -32,253,259.10
Including: Interest expenses 8,797,332.85 9,827,780.80
Interest income 52,008,372.20 42,468,258.19
Add: Other income 36,572,192.15 23,810,575.67
Investment income (“-” for losses) -1,623,342.48 -6,661,294.54
Including: Income from investment in associates and joint ventures -2,290,416.07 -6,658,316.04
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 losses) 2,173,909.38 2,180,709.67
Asset impairment losses (“-” for losses) -99,139,522.86 -113,537,444.60
Gains from disposal of assets (“-” for losses) -217,694.21  
III. Operating profit (“-” for losses) 982,240,518.24 621,820,983.54
Add: Non-operating revenue 3,145,759.06 612,654.73
Less: Non-operating expenses 5,914,535.33 916,605.93
IV. Total profit (“-” for total losses) 979,471,741.97 621,517,032.34
Less: Income tax expenses 204,524,682.76 117,310,409.13
V. Net profit (“-” for net losses) 774,947,059.21 504,206,623.21
(I) Classified by continuity as a going concern    
1. Net profit from continuing as a going concern (“-” for net losses) 774,947,059.21 504,206,623.21
2. Net profit from discontinuing as a going concern (“-” for net losses)    
(II) Classified by ownership    
1. Net profit attributable to shareholders of the parent company (“-” for net losses) 745,963,141.07 495,315,157.18
2. Minority interest income (“-” for net losses) 28,983,918.14 8,891,466.03
VI. Other comprehensive income, net of tax 722,888.79 -364,148.31
(I) Other comprehensive income (net of tax) attributable to owners of the parent company 722,888.79 -364,148.31
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 will be reclassified into profit or loss 722,888.79 -364,148.31
(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 currency financial statements 722,888.79 -364,148.31
(7) Others    
(II) Other comprehensive income (net of tax) attributable to minority shareholders    
VII. Total comprehensive income 775,669,948.00 503,842,474.90
(I) Total comprehensive income attributable to owners of the parent company 746,686,029.86 494,951,008.87
(II) Total comprehensive income attributable to minority shareholders 28,983,918.14 8,891,466.03
VIII. Earnings per share:    
(I) Basic earnings per share (RMB per share) 1.87 1.76
(II) Diluted earnings per share (RMB per share) 1.85 1.74

In the case of merger under common control in the current period,net profit realized by the merged party
before the merger was RMB0.00, and net profit realized by the merged party for the previous period was
RMB0.00.
The chairman of the Company: HOU Juncheng Person in charge of accounting: WANG Li Head of the Accounting Department: WANG Li

Consolidated Cash Flow Statement
January to September 2023
Prepared by: Proya Cosmetics Co., Ltd.
Unit: Yuan Currency: RMB Audit type: Unaudited

Item The first three quarters of 2023 (Jan. to Sep.) The first three quarters of 2022 (Jan. to Sep.)
I. Cash flows from operating activities:    
Cash receipts from sales of goods and rendering of services 5,548,852,049.32 4,420,753,595.68
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 7,955,028.14 5,217,273.91
Other cash received relating to operating activities 163,946,919.02 94,308,291.64
Subtotal of cash inflows from operating activities 5,720,753,996.48 4,520,279,161.23
Cash paid for purchasing goods and accepting labor services 1,403,830,030.60 1,333,409,994.35
Net increase in loans and advances to customers    
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 492,793,046.51 381,128,046.79
Cash paid for taxes and surcharges 720,756,917.19 398,116,900.07
Other cash paid relating to operating activities 2,304,357,473.31 1,635,750,886.35
Subtotal of cash outflows from operating activities 4,921,737,467.61 3,748,405,827.56
Net cash flow from operating activities 799,016,528.87 771,873,333.67
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 long-term assets 338,439.51  
Net cash received from the disposal of subsidiaries and other units 3,018,142.61  
Other cash received relating to investing activities    
Subtotal of cash inflows from investing activities    
Cash paid for the acquisition and construction of fixed assets, intangible assets and other long-term assets 147,851,445.94 98,040,024.48
Cash paid for investments 6,818,181.82 104,185,427.27
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 investing activities 154,669,627.76 202,225,451.75
Net cash flows from investing activities -151,313,045.64 -202,225,451.75
III. Cash flows from financing activities:    
Cash received from attraction of investments   165,676,000.00
Including: Cash received from attraction of investments from minority shareholders   700,000.00
Cash received from borrowings 200,000,000.00 200,000,000.00
Other cash received relating to financing activities    
Subtotal of cash inflows from financing activities 200,000,000.00 365,676,000.00
Cash paid for debt repayments 200,000,000.00 200,000,000.00
Cash paid for distribution of dividends and profits or payment of interests 250,827,139.38 178,569,824.95
Including: Dividends and profits paid by subsidiaries to minority shareholders    
Other cash paid relating to financing activities 9,931,260.23 45,800,000.00
Subtotal of cash outflows from financing activities 460,758,399.61 424,369,824.95
Net cash flows from financing activities -260,758,399.61 -58,693,824.95
IV. Effect of changes in exchange rates on cash and cash equivalents -318,571.65 -364,148.31
V. Net increase in cash and cash equivalents 386,626,511.97 510,589,908.66
Add: Beginning balance of cash and cash equivalents 3,125,333,085.05 2,378,334,768.09
VI. Ending balance of cash and cash equivalents 3,511,959,597.02 2,888,924,676.75
(未完)

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