珀莱雅：珀莱雅化妆品股份有限公司2021年年度报告（英文版）.PDF

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1、Annual Report 2021 1/ 323 Stock Code: 603605 Abbreviation: Proya Bond Code: 113634 Bond Abbreviation: Proya convertible bond Proya Cosmetics Co., Ltd. Annual Report 2021 Annual Report 2021 2/ 323 Important Notes I. The Board of Directors, Board of Supervisors, directors, supervisors, and officers of

2、 the Company warrant that the content of the Annual Report is authentic, accurate, and complete, and is free of false records, misleading statements, and major omissions, and that they shall be jointly and severally liable therefore. II. All directors of the Company attended the meeting of the board

3、 of directors. III. Pan-China Certified Public Accountants (Special General Partnership) has issued a standard unqualified audit report to the Company. IV. Hou Juncheng, chairman of the Company, Wang Li, CFO of the Company represent and warrant that the financial report in the Annual Report is authe

4、ntic, accurate and complete. V. The profit distribution plan or capital reserve capitalization plan for the reporting period approved by the Board of Directors Based on the total share capital as of the record date for dividend distribution, the Company plans to distribute to all shareholders regist

5、ered on the record date a cash dividend of RMB8.60 (tax inclusive) per 10 shares and proposes to convert the capital reserve into share capital in the proportion of four4 shares for every 10 shares without bonus shares. Based on a total of 201,009,966 shares on December 31, 2021, the estimated cash

6、dividend amounts to RMB172,868,570.76 (tax inclusive) and 80,403,986 shares will be issued through the capital reserve capitalization. In case of a change in the Companys total share capital prior to before the record date for equity distribution, the Company would maintain the said distribution and

7、 conversation ratios and yet adjusted the total distribution and conversion amounts and would otherwise announce such adjustments. VI. Disclosure of risks involved in forward-looking statements Applicable Not applicable Any future plan, development strategy, or other description contained in the for

8、ward-looking statements herein shall not be deemed as the Companys substantial commitments to investors. Investors should note that investment involves risks. VII. Whether there is any non-operating capital occupation by a controlling shareholder and its related parties No Annual Report 2021 3/ 323

9、VIII. Whether there is any external guarantee provided in violation of the specified decision-making procedures No IX. Whether the majority of the directors are unable to warrant the authenticity, accuracy and completeness of the Annual Report disclosed by the Company No X. Major risk tips The Compa

10、ny has described the existing risks in details in this Report. Refer to (IV) Possible risks, VI. Discussion and analysis of the Companys future development, Section III Management Discussion and Analysis. XI. Others Applicable Not applicable Annual Report 2021 4/ 323 Contents Section I Definitions .

11、 5 Section II Company Profile and Key Financial Indicators . 8 Section III Management Discussion and Analysis . 14 Section IV Corporate Governance . 50 Section V Environmental and Social Responsibility . 81 Section VI Significant Issues . 84 Section VII Changes in Shares and Shareholders . 127 Secti

12、on VIII Preferred Shares . 141 Section IX Corporate Bonds . 142 Section X Financial Report . 143 Documents Available for Inspection Financial statements signed and sealed by the legal representative, the CFO of the Company, and the head of accounting department Original copy of the auditors report w

13、ith the auditing firms chop affixed, signed and sealed by certified public accountants. Original copies of all documents and announcements of the Company disclosed during the reporting period in newspapers designated by the China Securities Regulatory Commission. Annual Report 2021 5/ 323 Section I

14、Definitions I. Definitions In this report, unless the context otherwise requires, the following terms have the following meanings: Definition Proya Cosmetics, this Company or the Company shall mean Proya Cosmetics Co., Ltd. Huzhou Branch shall mean Huzhou Branch of Proya Cosmetics Co., Ltd., a branc

15、h of the Company Proya Trading shall mean Hangzhou Proya Trading Co., Ltd., a wholly-owned subsidiary of the Company Korea Hanna shall mean Hanna Cosmetics Co., Ltd., a wholly-owned subsidiary of the Company Hanya (Huzhou) shall mean Hanya (Huzhou) Cosmetics Co., Ltd., a wholly-owned subsidiary of K

16、orea Hanna Yueqing Laiya shall mean Yueqing Laiya Trading Co., Ltd., a wholly-owned subsidiary of the Company Huzhou Uzero shall mean Huzhou Uzero Trading Co., Ltd., a wholly-owned subsidiary of the Company Mijing Siyu (Hangzhou) shall mean Mijingsiyu (Hangzhou) Cosmetics Co., Ltd., a wholly-owned s

17、ubsidiary of the Company Meiligu shall mean Zhejiang Meiligu Electronic Commerce Co., Ltd., a wholly-owned subsidiary of the Company Chuangdai Electronics shall mean Huzhou Chuangdai E-commerce Co., Ltd., a wholly-owned subsidiary of Meiligu Hapsode (Hangzhou) shall mean Hapsode (Hangzhou) Cosmetics

18、 Co., Ltd., a wholly-owned subsidiary of the Company Korea Hapsode shall mean Hapsode Co., Ltd., a wholly-owned subsidiary of Hapsode (Hangzhou) Huzhou Hapsode shall mean Huzhou Hapsode Trading Co., Ltd., a wholly-owned subsidiary of Hapsode (Hangzhou) Danyang Hapsode shall mean Danyang Hapsode Cosm

19、etics Trading Co., Ltd., a wholly-owned subsidiary of Hapsode (Hangzhou) Proya Commercial shall mean Hangzhou Proya Commercial Management Co., Ltd., a wholly-owned subsidiary of the Company Tiedingxian shall mean Hangzhou Tiedingxian Catering Management Co., Ltd., a holding subsidiary of Proya Comme

20、rcial Annual Report 2021 6/ 323 Tielexin Aini shall mean Hangzhou Tieluoxin Aini Catering Management Co., Ltd., a wholly-owned subsidiary of Proya Commercial Xiake Bar shall mean Hangzhou Xiake Bar Catering Management Co., Ltd., a wholly-owned subsidiary of Proya Commercial Luxiaotie shall mean Hang

21、zhou Luxiaotie Fitness Co., Ltd., a wholly-owned subsidiary of Proya Commercial Hong Kong Keshi shall mean Hong Kong Keshi Trading Co., Ltd., a holding subsidiary of the Company Hong Kong Xinghuo shall mean Hong Kong Xinghuo Industry Limited, a wholly-owned subsidiary of the Company Hong Kong Zhongw

22、en shall mean Hong Kong Zhongwen Electronic Commerce Co., Limited, a wholly-owned subsidiary of Hong Kong Xinghuo Hong Kong Xuchen shall mean Hong Kong Xuchen Trading Limited, a wholly-owned subsidiary of Hong Kong Xinghuo Proya Luxembourg shall mean Proya Europe SARL, a wholly-owned subsidiary of H

23、ong Kong Xinghuo Shanghai Zhongwen shall mean Shanghai Zhongwen Electronic Commerce Co., Ltd., a wholly-owned subsidiary of the Company Huzhou Niuke shall mean Huzhou Niuke Technology Co., Ltd., a holding subsidiary of the Company Hangzhou Wanyan shall mean Hangzhou Wanyan Culture Media Co., Ltd., a

24、 wholly-owned subsidiary of Huzhou Niuke Hong Kong Wanyan shall mean Hong Kong Wanyan Electronic Commerce Co., Limited, a wholly-owned subsidiary of Huzhou Niuke Huzhou Younimi shall mean Huzhou Younimi Cosmetics Co., Ltd., a holding subsidiary of the Company Korea Younimi shall mean Korea Younimi C

25、osmetics Co., Ltd., a holding subsidiary of the Company Ningbo Timage shall mean Ningbo Timage Cosmetics Co., Ltd., a holding subsidiary of the Company Ningbo Keshi shall mean Ningbo Keshi Trading Limited, a holding subsidiary of the Company Zhejiang Biyouti shall mean Zhejiang Biyouti Cosmetics Co.

26、, Ltd., a wholly-owned subsidiary of the Company Ningbo Proya shall mean Ningbo Proya Enterprise Consulting Management Co., Ltd., a wholly-owned subsidiary of the Company Annual Report 2021 7/ 323 Zhejiang Qingya shall mean Zhejiang Qingya Culture Art Communication Co., Ltd., a holding subsidiary of

27、 the Company Boya (Hong Kong) shall mean BOYA (Hong Kong) Investment Management Co., Limited, a wholly-owned subsidiary of the Company Japan OR shall mean Or Off&Relax, a holding subsidiary of Boya (Hong Kong) Ningbo Tangyu shall mean Ningbo Tangyu Trading Co., Ltd., a wholly-owned subsidiary of Jap

28、an OR Hangzhou Weiluoke shall mean Hangzhou Weiluoke Cosmetics Co., Ltd., a wholly-owned subsidiary of the Company Hangzhou Yizhuo shall mean Hangzhou Yizhuo Culture Media Co., Ltd., a wholly-owned subsidiary of the Company Hangzhou Oumisi shall mean Hangzhou Oumisi Trading Co., Ltd., a wholly-owned

29、 subsidiary of the Company Huzhou Poyun shall mean Huzhou Poyun Electronic Commerce Co., Ltd., a holding subsidiary of the Company Guangzhou Qianxi shall mean Guangzhou Qianxi Network Technology Co., Ltd., a wholly-owned subsidiary of the Company Xuzhou Proya shall mean Xuzhou Proya Information Tech

30、nology Co., Ltd., a wholly-owned subsidiary of the Company Proya (Hainan) shall mean Proya (Hainan) Cosmetics Co., Ltd., a wholly-owned subsidiary of the Company Singuladerm (Hangzhou) shall mean Shenggelan (Hangzhou) Cosmetics Co., Ltd., a wholly-owned subsidiary of the Company CSRC shall mean Chin

31、a Securities Regulatory Commission SSE shall mean Shanghai Stock Exchange Pan-China shall mean Pan-China Certified Public Accountants (Special General Partnership) CSC shall mean China Securities Co., Ltd. Company Law shall mean Company Law of the Peoples Republic of China Securities Law shall mean

32、Securities Law of the Peoples Republic of China Articles of Association shall mean Articles of Association of Proya Cosmetics Co., Ltd. RMB/RMB10,000 shall mean RMB/RMB10,000 Reporting Period shall mean January 1, 2021 to December 31, 2021 Annual Report 2021 8/ 323 Section II Company Profile and Key

33、 Financial Indicators I. Company Information Chinese name of the Company Proya Cosmetics Co., Ltd. Short name of the Company in Chinese 珀莱雅 English name of the Company Proya Cosmetics Co., Ltd. Abbreviation of English name of the Company Proya Legal representative of the company Hou Juncheng II. Con

34、tact Details Board Secretary Securities Affairs Representative Name Wang Li Wang Xiaoyan Mailing address 10/F, Proya Building, No. 588 Xixi Road, Xihu District, Hangzhou City, Zhejiang Province 10/F, Proya Building, No. 588 Xixi Road, Xihu District, Hangzhou City, Zhejiang Province Telephone 0571-87

35、352850 0571-87352850 Fax 0571-87352813 0571-87352813 Email III. General Information Registered address No. 588, Xixi Road, Liuliu Street, Xihu District, Hangzhou City, Zhejiang Province Historical changes in the Companys registered address 310023 Office address of the Company Proya Building, No. 588

36、 Xixi Road, Xihu District, Hangzhou City, Zhejiang Province Postal code of registered address 310023 Company website http:/www.proya- Email IV. Information Disclosure and Place for Obtaining the Report Media for the Companys information disclosure Shanghai Securities News, Securities Times CSRCs des

37、ignated website for the Companys Annual Report disclosure http:/ Annual Report 2021 9/ 323 The Companys Annual Report may be obtained at Board of Directors Office, Proya Building, No.588 Xixi Road, Xihu District, Hangzhou City, Zhejiang Province V. Stock Information Stock Information Stock class Sto

38、ck exchange Stock abbreviation Stock code Stock abbreviation before changes A share Shanghai Stock Exchange 珀莱雅 603605 None VI. Other Relevant Information Auditor of the Company (domestic) Name Pan-China Certified Public Accountants (Special General Partnership) Office address Block B, China Resourc

39、es Building, No. 1366, Qianjiang Road, Jianggan District, Hangzhou Name of the signing accountant Yin Zhibin, Wang Xiaokang Sponsor performing continuous supervisory duty during the reporting period Name China Securities Co., Ltd. Office address 2203, North Tower, Shanghai Securities Building, 528 P

40、udong South Road, Shanghai Names of the sponsors signing representatives Ge Liang, Wang Zhan Period of continuous supervision January 4, 2022 - December 31, 2023 VII. Major Accounting Data and Financial Indicators for the Past Three Years (I) Major accounting data Unit: Yuan Currency: RMB Major acco

41、unting data 2021 2020 Year-on-year change (%) 2019 Operating revenue 4,633,150,538.43 3,752,386,849.02 23.47 3,123,520,211.77 Net profit attributable to shareholders of the listed company 576,119,025.56 476,009,298.41 21.03 392,681,976.58 Net profit attributable 568,092,480.38 469,935,904.22 20.89 3

42、86,170,257.02 Annual Report 2021 10/ 323 to shareholders of the listed company net of non-recurring profit and loss Net cash flow from operating activities 829,670,943.82 331,550,109.14 150.24 235,961,328.34 As of the end of 2021 As of the end of 2020 Year-on-year change (%) As of the end of 2019 Ne

43、t assets attributable to shareholders of the listed company 2,876,975,835.98 2,391,535,435.94 20.30 2,029,687,883.68 Total assets 4,633,049,783.03 3,636,882,185.29 27.39 2,979,365,076.82 (II) Key financial indicators Key financial indicators 2021 2020 Year-on-year change (%) 2019 Basic earnings per

44、share (RMB/share) 2.87 2.37 21.10 1.96 Diluted earnings per share (RMB/share) 2.81 2.37 18.57 1.96 Basic earnings per share net of non-recurring Profit or loss (RMB/share) 2.83 2.34 20.94 1.93 Weighted average ROE (%) 22.25 21.82 Up by 0.43 percentage points 21.24 Weighted average ROE net of non-rec

45、urring profit and loss (%) 21.94 21.54 Up by 0.40 percentage points 20.89 Explanation on the Companys major accounting data and financial indicators for the recent three years as of the end of the reporting period Applicable Not applicable VIII. Differences in Accounting Data under Chinese and Inter

46、national Accounting Standards (I) Difference in net profit and net assets attributable to shareholders of the listed company in the financial report disclosed in accordance with international accounting standards and Chinese accounting standards Applicable Not applicable Annual Report 2021 11/ 323 (

47、II) Differences in net profit and net assets attributable to shareholders of the listed company in the financial report disclosed in accordance with international accounting standards and Chinese accounting standards Applicable Not applicable (III) Description of differences between domestic and for

48、eign accounting standards: Applicable Not applicable IX. Major Financial Data for 2021 by Quarter Unit: Yuan Currency: RMB Q1 (January - March) Q2 (April - June) Q3 (July - September) Q4 (October - December) Operating revenue 905,464,673.13 1,012,253,824.47 1,094,533,358.54 1,620,898,682.29 Net prof

49、it attributable to shareholders of the listed company 109,895,944.66 116,205,369.20 138,195,475.24 211,822,236.46 Net profit attributable to shareholders of the listed company net of non-recurring profit and loss 107,715,991.57 112,564,401.71 136,116,085.45 211,696,001.65 Net cash flow from operatin

50、g activities 55,030,968.90 211,144,609.92 224,312,917.94 339,182,447.06 Notes: Major reasons for fluctuations in operating revenue and net profit attributable to shareholders of the listed company among quarters: Quarterly sales fluctuated in cosmetics industry due to vulnerability to seasonal facto