Proya(SH:603605) Sou Hu Cai Jing·2025-10-15 10:00Group 1: Company Strategy and Developments - Proya has approved a plan for a secondary listing in Hong Kong to enhance its international strategy and overseas business development, aiming to improve its overseas financing capabilities [2] - Proya's revenue for the first half of 2025 is projected to be 5.362 billion yuan, with a year-on-year growth of 7.2%, marking the lowest growth rate in five years [4] - The company has experienced a significant decline in stock price since the second-generation leadership transition in September 2024, with the stock price dropping to 79 yuan per share, nearly halving from its peak [5] Group 2: Leadership Changes and Talent Acquisition - Following the leadership transition, Proya has frequently changed its executive team, appointing individuals with backgrounds in major international companies, including a new CFO with experience at L'Oréal [6][7] - The strategy of hiring executives from large corporations aims to bring mature experiences and systems into Proya, although the effectiveness of this approach remains to be seen [7] Group 3: Investment and Acquisition Strategy - Proya has announced a "Double Ten" strategy, aiming to enter the top ten global cosmetics companies, which would require revenue to reach 50 billion yuan [9] - The company has begun investing in acquisitions, including a 38.45% stake in Huazhi Xiao, and is establishing a European innovation center to accelerate overseas acquisition plans [9] - Investors expect Proya to not only focus on external acquisitions but also to develop internal talent and explore growth opportunities within its main and potential brands in the domestic market [10]