Core Viewpoint - The report from Huaxin Securities indicates that Proya's net profit attributable to shareholders for Q1-Q3 2025 is 1.026 billion yuan, representing a 3% year-on-year increase, while Q3 net profit is 227 million yuan, reflecting a 24% year-on-year decrease [1] Financial Performance - Proya's Q1-Q3 2025 net profit is 1.026 billion yuan, with a 3% increase compared to the previous year [1] - The Q3 net profit is 227 million yuan, showing a 24% decrease year-on-year [1] Strategic Developments - The company is accelerating its internationalization strategy and has been continuously introducing experienced management talent since last year [1] - The core team has been largely established, and the company submitted its H-share listing application to the Hong Kong Stock Exchange on October 30, 2025 [1] Brand Performance - During the Double 11 shopping festival, Proya's main brand maintained its leading position in the industry, ranking first in Tmall's beauty category for the first four hours of sales [1] - The emerging brand OR has positioned itself as "Asia's scalp holistic care expert," ranking fifth in Tmall's personal care category for the same period [1] - The brand Cai Tang is focusing on Chinese aesthetic concepts and is expanding its product categories in base makeup, eye, and lip products [1] - The brand Yuan Se Bo Ta achieved a GMV that doubled year-on-year on its first day on Tmall, surpassing last year's total revenue within five days [1] Future Outlook - Overall, the company's strategy of deepening its focus on major products and expanding its product matrix has led to a performance during Double 11 that exceeded expectations, indicating a positive outlook for future earnings [1] - Proya is recognized as a leading multi-brand beauty group in China, with a core business focused on the research, production, and sales of cosmetics, showcasing significant brand advantages [1] - With the iteration of old products and the expansion of new products, the brand's potential continues to be released [1]