On July 30, the 2024 (17th) China Cosmetics Summit, organized by Cosmetic Observer and Cosmetics Innovation Expo (CiE), was held in Shanghai. The event featured keynote speeches from prominent industry figures, including Yan Jiangying, Chairman of the China Association of Fragrance Flavour and Cosmetic Industries, Hou Juncheng, Chairman of PROYA, and Gao Chunming, Chairman of Freda Biotechnology.

In his speech, Hou Juncheng emphasized that focus, pragmatism, and innovation are crucial keys to business success. Since its listing in 2017, PROYA has achieved double-digit growth for six consecutive years, with a revenue of RMB 8.905 billion in 2023, solidifying its position as a leading player in China's cosmetics industry.

Hou attributed PROYA's success to favorable timing, geographical advantages, and harmonious relationships. The reform and opening-up policy, along with the awakening of consumer awareness provided opportunities for the domestic beauty market. PROYA has leveraged the industrial policy advantages of Zhejiang Province and the e-commerce resources of Hangzhou to transition from offline to online e-commerce, achieving a second wave of brand growth. Corporate culture and talent development are also crucial factors in PROYA's success.

PROYA is dedicated to providing high-quality cosmetics to global consumers. The company collaborates with international raw material producers, builds its own scientific skincare laboratory, and establishes an international science research institute to continuously enhance its R&D capabilities. In 2023, PROYA invested RMB 174 million in R&D and held a total of 256 invention patents, leading the industry in scientific innovation.

As an industry leader, PROYA actively practices ESG principles, promoting green and low-carbon development. Its production base in Huzhou has been recognized as an "Intelligent Factory" and a "Zhejiang Provincial Green Low-Carbon Factory". PROYA also engages in public welfare and charity, establishing a foundation to fulfill corporate social responsibilities.

Hou Juncheng believes that the internationalization of China's beauty industry is an inevitable trend. He suggests that the industry should adhere to innovation-driven development, strengthen basic medical research and new raw material development, and promote the construction of technical talent teams. PROYA will firmly pursue its international strategy, expand overseas markets, and enhance its global brand recognition.

Finally, Hou Juncheng proposed advancing talent and technology internationalization, building a high-quality international team, mastering core technologies through independent R&D and international cooperation, and maintaining the company's leading position in global competition. He hopes to collaborate with the Chinese cosmetics industry to promote the international image of Chinese beauty brands.