(Yicai) April 25 -- Revenue at Proya Cosmetics surpassed Jahwa United’s last year, making it China's largest homegrown beauty brand.

Revenue jumped 39 percent to a record CNY8.9 billion (USD1.2 billion) in the year ended Dec. 31, while net profit surged 46 percent to CNY1.2 billion (USD165.6 million), Proya’s annual financial report showed on April 19. Both figures were up more than 20 percent for the sixth straight year.

Online sales grew 43 percent to CNY8.3 billion, accounting for over 90 percent of the Hangzhou-based firm’s revenue. Proya has sales channels on major e-commerce platforms Tmall and JD.Com, as well as Douyin, the Chinese version of TikTok.

Proya will continue to focus on Douyin this year, and will open more accounts based on different target groups in addition to its existing live streaming accounts, chief executive Fang Yuyou said at the firm’s earnings press conference.

In comparison, revenue at Jahwa, which mainly relies on offline sales, fell 7 percent to CNY6.6 billion last year, according to the Shanghai-based company’s trading report released last month. Net profit rose 6 percent to CNY500 million (USD69 million).

The closure of a number of brick-and-mortar stores was the main reason for the lower revenue, Jahwa said.

Jahwa has been trying to boost its e-commerce operations, with online sales revenue of CNY2.8 billion last year, accounting for 43 percent of the total.

Proya is known for its affordable yet high-quality products and has been enlarging its product portfolio and distribution channels to capture a larger market share. Jahwa is renowned for its heritage and focus on natural ingredients, catering to consumers looking for premium skincare and personal care products.

In the first quarter of this year, the individual directions of Proya and Jahwa’s earnings persisted. Proya’s revenue rose 35 percent from a year earlier to CNY2.2 billion, and net profit grew 46 percent to CNY303 million, while Jahwa’s revenue dipped 4 percent to CNY1.9 billion and net profit gained 11 percent to CNY256 million.

Shares of Proya [SHA: 603605] fell 0.8 percent to CNY110.12 (USD15.20) apiece in Shanghai today. The stock has gained almost 11 percent so far this year. Jahwa [SHA: 600315] lost 1.9 percent to end at CNY19.68 (USD2.72).

Editors: Dou Shicong, Tom Litting