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    Yatsen Announces Second Quarter 2025 Financial Results

    8/21/25 5:00:00 AM ET
    $YSG
    Package Goods/Cosmetics
    Consumer Discretionary
    Get the next $YSG alert in real time by email

    Conference Call to Be Held at 7:30 A.M. U.S. Eastern Time on August 21, 2025

    GUANGZHOU, China, Aug. 21, 2025 /PRNewswire/ -- Yatsen Holding Limited ("Yatsen" or the "Company") (NYSE:YSG), a leading China-based beauty group, today announced its unaudited financial results for the second quarter ended June 30, 2025.

    Second Quarter 2025 Highlights

    • Total net revenues for the second quarter of 2025 increased by 36.8% to RMB1.09 billion (US$151.7 million) from RMB794.5 million for the prior year period.
    • Total net revenues from Skincare Brands[1] for the second quarter of 2025 increased by 78.7% to RMB581.3 million (US$81.1 million) from RMB325.2 million for the prior year period. As a percentage of total net revenues, total net revenues from Skincare Brands for the second quarter of 2025 were 53.5%, as compared with 40.9% for the prior year period.
    • Gross margin for the second quarter of 2025 increased to 78.3% from 76.7% for the prior year period.
    • Net loss for the second quarter of 2025 narrowed by 77.2% to RMB19.5 million (US$2.7 million) from RMB85.5 million for the prior year period. Non-GAAP net income[2] for the second quarter of 2025 was RMB11.5 million (US1.6 million), as compared with non-GAAP net loss of RMB74.9 million for the prior year period.

    Mr. Jinfeng Huang, Founder, Chairman and Chief Executive Officer of Yatsen, stated, "With the vision of becoming a world-class pioneer in beauty innovation, we remained focused in the second quarter of 2025 on executing our strategy to deliver high-quality products and build strong brand equity, fueled by our enhanced R&D capabilities. Key products including Galénic's Brightening Micro Mask, DR.WU's Purifying Renewal Essence Toner, and Perfect Diary's Translucent Blurring Setting Powder contributed to our continued growth momentum. Looking ahead, we are committed to the disciplined execution of our R&D-driven strategy, which we believe will further strengthen our position in the beauty industry."

    Mr. Donghao Yang, Director and Chief Financial Officer of Yatsen, commented, "We delivered solid year-over-year growth in the second quarter, leveraging the tailwind of the June 18 shopping festival. Specifically, our color cosmetics brands have returned to a growth trajectory, while our skincare brands maintained strong performance. As operating leverage began to take effect, coupled with our efforts to improve efficiency in our operations and marketing spend, we remain on track to achieve profitable growth."

    Second Quarter 2025 Financial Results

    Net Revenues

    Total net revenues for the second quarter of 2025 increased by 36.8% to RMB1.09 billion (US$151.7 million) from RMB794.5 million for the prior year period. The increase was primarily due to a 78.7% year-over-year increase in net revenues from Skincare Brands, combined with an 8.8% year-over-year increase in net revenues from Color Cosmetics Brands.[3]

    Gross Profit and Gross Margin

    Gross profit for the second quarter of 2025 increased by 39.5% to RMB850.4 million (US$118.7 million) from RMB609.4 million for the prior year period. Gross margin for the second quarter of 2025 increased to 78.3% from 76.7% for the prior year period. The increase was primarily driven by an increase in sales of higher-gross-margin products.

    Operating Expenses

    Total operating expenses for the second quarter of 2025 increased by 21.7% to RMB905.9 million (US$126.5 million) from RMB744.6 million for the prior year period. As a percentage of total net revenues, total operating expenses for the second quarter of 2025 were 83.4%, as compared with 93.7% for the prior year period.

    • Fulfillment Expenses. Fulfillment expenses for the second quarter of 2025 were RMB63.3 million (US$8.8 million), as compared with RMB51.2 million for the prior year period. As a percentage of total net revenues, fulfillment expenses for the second quarter of 2025 decreased to 5.8% from 6.4% for the prior year period. The decrease was primarily due to further improvements in logistics efficiency.



    • Selling and Marketing Expenses. Selling and marketing expenses for the second quarter of 2025 were RMB722.4 million (US$100.8 million), as compared with RMB544.7 million for the prior year period. As a percentage of total net revenues, selling and marketing expenses for the second quarter of 2025 decreased to 66.5% from 68.6% for the prior year period. The decrease was primarily driven by the leveraging effect of higher total net revenues in the second quarter of 2025.



    • General and Administrative Expenses. General and administrative expenses for the second quarter of 2025 were RMB84.1 million (US$11.7 million), as compared with RMB119.1 million for the prior year period. As a percentage of total net revenues, general and administrative expenses for the second quarter of 2025 decreased to 7.7% from 15.0% for the prior year period. The decrease was primarily driven by lower payroll expenses resulting from a reduction in general and administrative headcount, coupled with the leveraging effect of higher total net revenues in the second quarter of 2025.



    • Research and Development Expenses. Research and development expenses for the second quarter of 2025 were RMB36.1 million (US$5.0 million), as compared with RMB29.7 million for the prior year period. As a percentage of total net revenues, research and development expenses for the second quarter of 2025 decreased to 3.3% from 3.7% for the prior year period. The decrease was primarily driven by the leveraging effect of higher total net revenues in the second quarter of 2025.

    Loss from Operations

    Loss from operations for the second quarter of 2025 was RMB55.5 million (US$7.7 million), as compared with RMB135.2 million for the prior year period. Operating loss margin was 5.1%, as compared with 17.0% for the prior year period.

    Non-GAAP loss from operations[4] for the second quarter of 2025 was RMB20.4 million (US$2.8 million), as compared with RMB111.9 million for the prior year period. Non-GAAP operating loss margin[5] was 1.9%, as compared with 14.1% for the prior year period.

    Net Loss / Income

    Net loss for the second quarter of 2025 was RMB19.5 million (US$2.7 million), as compared with RMB85.5 million for the prior year period. Net loss margin was 1.8%, as compared with 10.8% for the prior year period. Net loss attributable to Yatsen's ordinary shareholders per diluted ADS[6] for the second quarter of 2025 was RMB0.19 (US$0.03), as compared with RMB0.77 for the prior year period.

    Non-GAAP net income for the second quarter of 2025 was RMB11.5 million (US$1.6 million), as compared with non-GAAP net loss of RMB74.9 million for the prior year period. Non-GAAP net income margin was 1.1%, as compared with non-GAAP net loss margin of 9.4% for the prior year period. Non-GAAP net income attributable to Yatsen's ordinary shareholders per diluted ADS[7] for the second quarter of 2025 was RMB0.13 (US$0.02), as compared with non-GAAP net loss attributable to Yatsen's ordinary shareholders per diluted ADS of RMB0.67 for the prior year period.

    Balance Sheet and Cash Flow

    As of June 30, 2025, the Company had cash, restricted cash and short-term investments of RMB1.35 billion (US$188.6 million), as compared with RMB1.36 billion as of December 31, 2024.

    Net cash generated from operating activities for the second quarter of 2025 was RMB77.7 million (US$10.8 million), as compared with net cash used in operating activities of RMB148.2 million for the prior year period.

    Business Outlook

    For the third quarter of 2025, the Company expects its total net revenues to be between RMB778.6 million and RMB880.1 million, representing a year-over-year increase of approximately 15% to 30%. These forecasts reflect the Company's current and preliminary views on the market and operational conditions, which are subject to change.

    Exchange Rate

    This announcement contains translations of certain Renminbi ("RMB") amounts into U.S. dollars ("US$") at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to US$ were made at a rate of RMB7.1636 to US$1.00, the exchange rate in effect as of June 30, 2025, as set forth in the H.10 statistical release of The Board of Governors of the Federal Reserve System. The Company makes no representation that any RMB or US$ amounts could have been, or could be, converted into US$ or RMB, as the case may be, at any particular rate, or at all.

    [1] Include net revenues from Galénic, DR.WU (its mainland China business), Eve Lom and other skincare brands of the Company.

    [2] Non-GAAP net income (loss) is a non-GAAP financial measure. Non-GAAP net income (loss) is defined as net income (loss) excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from assets and business acquisitions, (iii) revaluation of investments on the share of equity method investments, (iv) impairment of goodwill and (v) tax effects on non-GAAP adjustments.

    [3] Include Perfect Diary, Little Ondine, Pink Bear and other color cosmetics brands of the Company.

    [4] Non-GAAP loss from operations is a non-GAAP financial measure. Non-GAAP loss from operations is defined as loss from operations excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from assets and business acquisitions and (iii) impairment of goodwill.

    [5] Non-GAAP operating loss margin is a non-GAAP financial measure, which is defined as non-GAAP net loss from operations as a percentage of total net revenues.

    [6] ADS refers to American depositary shares, each of which represents twenty Class A ordinary shares.

    [7] Non-GAAP net income (loss) attributable to ordinary shareholders per diluted ADS is a non-GAAP financial measure. Non-GAAP net income (loss) attributable to ordinary shareholders per diluted ADS is defined as non-GAAP net income (loss) attributable to ordinary shareholders divided by the weighted average number of diluted ADS outstanding for computing diluted earnings per ADS. Non-GAAP net income (loss) attributable to ordinary shareholders is defined as net income (loss) attributable to ordinary shareholders excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from assets and business acquisitions, (iii) revaluation of investments on the share of equity method investments, (iv) impairment of goodwill, (v) tax effects on non-GAAP adjustments and (vi) accretion to redeemable non-controlling interests.

    Conference Call Information

    The Company's management will hold a conference call on Thursday, August 21, 2025, at 7:30 A.M. U.S. Eastern Time or 7:30 P.M. Beijing Time to discuss its financial results and operating performance for the second quarter of 2025.

    United States (toll free):

    +1-888-346-8982

    International:

    +1-412-902-4272

    Mainland China (toll free):

    400-120-1203

    Hong Kong, SAR (toll free):

    800-905-945

    Hong Kong, SAR:

    +852-3018-4992

    The replay will be accessible through Thursday, August 28, by dialing the following numbers:

    United States:

    +1-877-344-7529

    International:

    +1-412-317-0088

    Replay Access Code:

    6410660

    A live and archived webcast of the conference call will also be available on the Company's investor relations website at http://ir.yatsenglobal.com.

    About Yatsen Holding Limited

    Yatsen Holding Limited (NYSE:YSG) is a leading China-based beauty group with the mission of creating an exciting new journey of beauty discovery for consumers around the world. Founded in 2016, the Company has launched and acquired numerous color cosmetics and skincare brands including Perfect Diary, Little Ondine, Pink Bear, Galénic, DR.WU (its mainland China business), Eve Lom and EANTiM. The Company's flagship brand, Perfect Diary, is one of the leading color cosmetics brands in China in terms of retail sales value. The Company primarily reaches and engages with customers directly both online and offline, with expansive presence across all major e-commerce, social and content platforms in China.

    For more information, please visit http://ir.yatsenglobal.com.

    Use of Non-GAAP Financial Measures

    The Company uses non-GAAP income (loss) from operations, non-GAAP operating income (loss) margin, non-GAAP net income (loss), non-GAAP net income (loss) margin, non-GAAP net income (loss) attributable to ordinary shareholders and non-GAAP net income (loss) attributable to ordinary shareholders per diluted ADS, each a non-GAAP financial measure, in reviewing and assessing its operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company presents these non-GAAP financial measures because they are used by the management to evaluate operating performance and formulate business plans. Non-GAAP financial measures help identify underlying trends in its business, provide further information about its results of operations, and enhance the overall understanding of its past performance and future prospects. The Company defines non-GAAP income (loss) from operations as income (loss) from operations excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from assets and business acquisitions and (iii) impairment of goodwill. Non-GAAP operating income (loss) margin is non-GAAP income (loss) from operations as a percentage of total net revenues. The Company defines non-GAAP net income (loss) as net income (loss) excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from assets and business acquisitions, (iii) revaluation of investments on the share of equity method investments, (iv) impairment of goodwill and (v) tax effects on non-GAAP adjustments. Non-GAAP net income (loss) margin is non-GAAP net income (loss) as a percentage of total net revenues. The Company defines non-GAAP net income (loss) attributable to ordinary shareholders as net income (loss) attributable to ordinary shareholders excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from assets and business acquisitions, (iii) revaluation of investments on the share of equity method investments, (iv) impairment of goodwill, (v) tax effects on non-GAAP adjustments and (vi) accretion to redeemable non-controlling interests. Non-GAAP net income (loss) attributable to ordinary shareholders per diluted ADS is computed using non-GAAP net income (loss) attributable to ordinary shareholders divided by weighted average number of diluted ADS outstanding for computing diluted earnings per ADS.

    However, the non-GAAP financial measures have limitations as analytical tools as the non-GAAP financial measures are not presented in accordance with U.S. GAAP and may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited. The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating performance. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure. Reconciliations of Yatsen's non-GAAP financial measure to the most comparable U.S. GAAP measure are included at the end of this press release.

    Safe Harbor Statement

    This announcement contains statements that may constitute "forward-looking" statements which are made pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to," and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the Securities and Exchange Commission ("SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company's beliefs, plans, outlook and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company's growth strategies; its future business development, results of operations and financial condition; its ability to continue to roll out popular products and maintain popularity of existing products; its ability to anticipate and respond to changes in industry trends and consumer preferences and behavior in a timely manner; its ability to attract and retain new customers and to increase revenues generated from repeat customers; its expectations regarding demand for and market acceptance of its products and services; its ability to integrate newly-acquired businesses and brands; trends and competition in and relevant government policies and regulations relating to China's beauty market; changes in its revenues and certain cost or expense items; and general economic conditions globally and in China. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    For investor and media inquiries, please contact:

    Yatsen Holding Limited

    Investor Relations

    E-mail: [email protected]

     

     

    YATSEN HOLDING LIMITED

    UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

    (All amounts in thousands, except for share, per share data or otherwise noted)





    December 31,





    June 30,





    June 30,







    2024





    2025





    2025







    RMB'000





    RMB'000





    USD'000



    Assets



















    Current assets



















    Cash and cash equivalents





    817,395







    953,535







    133,108



    Restricted cash





    -







    47,048







    6,568



    Short-term investments





    539,130







    350,771







    48,966



    Accounts receivable, net





    214,558







    224,902







    31,395



    Inventories, net





    386,054







    392,323







    54,766



    Prepayments and other current assets





    381,404







    403,308







    56,300



    Amounts due from related parties





    9,113







    2,553







    356



    Total current assets





    2,347,654







    2,374,440







    331,459



    Non-current assets



















    Investments





    664,579







    662,961







    92,546



    Property and equipment, net





    74,373







    67,181







    9,378



    Goodwill, net





    155,029







    155,029







    21,641



    Intangible assets, net





    559,708







    579,729







    80,927



    Deferred tax assets





    1,381







    1,495







    209



    Right-of-use assets, net





    147,501







    177,681







    24,803



    Other non-current assets





    20,642







    24,744







    3,454



    Total non-current assets





    1,623,213







    1,668,820







    232,958



    Total assets





    3,970,867







    4,043,260







    564,417



    Liabilities, redeemable non-controlling interests and shareholders' equity



















    Current liabilities



















    Accounts and notes payable





    72,090







    148,184







    20,686



    Advances from customers





    19,574







    18,987







    2,650



    Accrued expenses and other liabilities





    460,143







    384,315







    53,648



    Amounts due to related parties





    28,884







    41,171







    5,747



    Income tax payables





    20,088







    17,103







    2,387



    Lease liabilities due within one year





    39,409







    48,694







    6,797



    Total current liabilities





    640,188







    658,454







    91,915



    Non-current liabilities



















    Deferred tax liabilities





    103,306







    108,661







    15,168



    Deferred income-non current





    14,832







    6,714







    937



    Lease liabilities





    109,526







    130,517







    18,219



    Total non-current liabilities





    227,664







    245,892







    34,324



    Total liabilities





    867,852







    904,346







    126,239



    Redeemable non-controlling interests





    50,984







    47,787







    6,671



    Shareholders' equity



















    Ordinary Shares (US$0.00001 par value; 10,000,000,000 ordinary shares authorized,

    comprising of 6,000,000,000 Class A ordinary shares, 960,852,606 Class B ordinary shares

    and 3,039,147,394 shares each of such classes to be designated as of December 31, 2024

    and June 30, 2025; 2,096,600,883 Class A shares and 600,572,880 Class B ordinary shares

    issued as of December 31, 2024 and June 30, 2025; 1,234,627,468 Class A ordinary shares

    and 600,572,880 Class B ordinary shares outstanding as of December 31, 2024,

    1,276,392,603 Class A ordinary shares and 600,572,880 Class B ordinary shares

    outstanding as of June 30, 2025)





    173







    173







    24



    Treasury shares





    (1,276,330)







    (1,246,804)







    (174,047)



    Additional paid-in capital





    12,273,767







    12,279,628







    1,714,170



    Statutory reserve





    28,147







    28,147







    3,929



    Accumulated deficit





    (8,057,297)







    (8,080,268)







    (1,127,962)



    Accumulated other comprehensive income





    86,866







    112,454







    15,701



    Total Yatsen Holding Limited shareholders' equity





    3,055,326







    3,093,330







    431,815



    Non-controlling interests





    (3,295)







    (2,203)







    (308)



    Total shareholders' equity





    3,052,031







    3,091,127







    431,507



    Total liabilities, redeemable non-controlling interests and shareholders' equity





    3,970,867







    4,043,260







    564,417



     

     

    YATSEN HOLDING LIMITED

    UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

    (All amounts in thousands, except for share, per share data or otherwise noted)





    For the Three Months Ended June 30,





    For the Six Months Ended June 30,







    2024





    2025





    2025





    2024





    2025





    2025







    RMB'000





    RMB'000





    USD'000





    RMB'000





    RMB'000





    USD'000



    Total net revenues





    794,521







    1,086,732







    151,702







    1,567,876







    1,920,265







    268,059



    Total cost of revenues





    (185,102)







    (236,335)







    (32,991)







    (357,509)







    (410,741)







    (57,337)



    Gross profit





    609,419







    850,397







    118,711







    1,210,367







    1,509,524







    210,722



    Operating expenses:





































    Fulfilment expenses





    (51,163)







    (63,288)







    (8,835)







    (102,611)







    (115,131)







    (16,072)



    Selling and marketing expenses





    (544,659)







    (722,405)







    (100,844)







    (1,083,852)







    (1,276,220)







    (178,153)



    General and administrative expenses





    (119,106)







    (84,072)







    (11,736)







    (259,205)







    (148,955)







    (20,793)



    Research and development expenses





    (29,678)







    (36,116)







    (5,042)







    (57,604)







    (58,753)







    (8,202)



    Total operating expenses





    (744,606)







    (905,881)







    (126,457)







    (1,503,272)







    (1,599,059)







    (223,220)



    Loss from operations





    (135,187)







    (55,484)







    (7,746)







    (292,905)







    (89,535)







    (12,498)



    Financial income





    28,829







    11,467







    1,601







    57,441







    22,073







    3,081



    Foreign currency exchange (loss) gain





    (3,462)







    5,507







    769







    (11,095)







    16,171







    2,257



    Income from equity method investments, net





    12,724







    877







    122







    16,000







    3,382







    472



    Other income, net





    13,191







    17,395







    2,428







    19,496







    21,637







    3,020



    Loss before income tax expenses





    (83,905)







    (20,238)







    (2,826)







    (211,063)







    (26,272)







    (3,668)



    Income tax (expenses) benefits





    (1,589)







    763







    107







    702







    1,196







    167



    Net loss





    (85,494)







    (19,475)







    (2,719)







    (210,361)







    (25,076)







    (3,501)



    Net loss attributable to non-controlling interests and redeemable non-controlling interests





    7,220







    1,807







    252







    7,488







    2,105







    294



    Net loss attributable to Yatsen's shareholders





    (78,274)







    (17,668)







    (2,467)







    (202,873)







    (22,971)







    (3,207)



    Shares used in calculating loss per share (1):





































    Weighted average number of Class A and Class B ordinary shares:





































       Basic





    2,043,644,209







    1,854,988,850







    1,854,988,850







    2,092,400,120







    1,846,275,864







    1,861,746,795



        Diluted





    2,043,644,209







    1,854,988,850







    1,854,988,850







    2,092,400,120







    1,846,275,864







    1,861,746,795



    Net loss per Class A and Class B ordinary share





































       Basic





    (0.04)







    (0.01)







    (0.00)







    (0.10)







    (0.01)







    (0.00)



        Diluted





    (0.04)







    (0.01)







    (0.00)







    (0.10)







    (0.01)







    (0.00)



    Net loss per ADS (20 ordinary shares equal to 1 ADS)





































       Basic





    (0.77)







    (0.19)







    (0.03)







    (1.94)







    (0.25)







    (0.03)



        Diluted





    (0.77)







    (0.19)







    (0.03)







    (1.94)







    (0.25)







    (0.03)







    For the Three Months Ended June 30,





    For the Six Months Ended June 30,







    2024





    2025





    2025





    2024





    2025





    2025



    Share-based compensation expenses are

    included in the operating expenses as

    follows:



    RMB'000





    RMB'000





    USD'000





    RMB'000





    RMB'000





    USD'000



    Fulfilment (income) expenses





    (178)







    93







    13







    (102)







    191







    27



    Selling and marketing (income) expenses





    (7,246)







    1,795







    251







    (4,590)







    2,552







    356



    General and administrative expenses





    17,128







    20,638







    2,881







    48,755







    28,369







    3,960



    Research and development (income) expenses





    (1,549)







    1,429







    199







    (231)







    1,469







    205



    Total





    8,155







    23,955







    3,344







    43,832







    32,581







    4,548



    (1)   Authorized share capital is re-classified and re-designated into Class A ordinary shares and Class B ordinary shares, with each Class A ordinary share being entitled to one vote and each Class B ordinary share being entitled to twenty votes on all matters that are subject to shareholder vote.

     

     

    YATSEN HOLDING LIMITED

    UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS

    (All amounts in thousands, except for share, per share data or otherwise noted)







    For the Three Months Ended June 30,





    For the Six Months Ended June 30,







    2024





    2025





    2025





    2024





    2025





    2025







    RMB'000





    RMB'000





    USD'000





    RMB'000





    RMB'000





    USD'000



    Loss from operations





    (135,187)







    (55,484)







    (7,746)







    (292,905)







    (89,535)







    (12,498)



    Share-based compensation expenses





    8,155







    23,955







    3,344







    43,832







    32,581







    4,548



    Amortization of intangible assets

    resulting from assets and business

    acquisitions





    15,103







    11,147







    1,556







    30,159







    21,708







    3,030



    Non-GAAP loss from operations





    (111,929)







    (20,382)







    (2,846)







    (218,914)







    (35,246)







    (4,920)



    Net loss





    (85,494)







    (19,475)







    (2,719)







    (210,361)







    (25,076)







    (3,501)



    Share-based compensation expenses





    8,155







    23,955







    3,344







    43,832







    32,581







    4,548



    Amortization of intangible assets

    resulting from assets and business

    acquisitions





    15,103







    11,147







    1,556







    30,159







    21,708







    3,030



    Revaluation of investments on the

    share of equity method investments





    (13,632)







    (3,141)







    (438)







    (20,671)







    (9,151)







    (1,277)



    Tax effects on non-GAAP

    adjustments





    983







    (991)







    (138)







    (1,637)







    (1,424)







    (199)



    Non-GAAP net (loss) income





    (74,885)







    11,495







    1,605







    (158,678)







    18,638







    2,601



    Net loss attributable to Yatsen's

    shareholders





    (78,274)







    (17,668)







    (2,467)







    (202,873)







    (22,971)







    (3,207)



    Share-based compensation expenses





    8,155







    23,955







    3,344







    43,832







    32,581







    4,548



    Amortization of intangible assets

    resulting from assets and business

    acquisitions





    14,607







    10,743







    1,500







    29,389







    20,922







    2,921



    Revaluation of investments on the

    share of equity method investments





    (13,632)







    (3,141)







    (438)







    (20,671)







    (9,151)







    (1,277)



    Tax effects on non-GAAP

    adjustments





    1,039







    (963)







    (134)







    (1,581)







    (1,368)







    (191)



    Non-GAAP net (loss) income

    attributable to Yatsen's

    shareholders





    (68,105)







    12,926







    1,805







    (151,904)







    20,013







    2,794



    Shares used in calculating loss per

    share:





































    Weighted average number of Class A

    and Class B ordinary shares:





































        Basic





    2,043,644,209







    1,854,988,850







    1,854,988,850







    2,092,400,120







    1,846,275,864







    1,861,746,795



        Diluted





    2,043,644,209







    1,998,882,473







    1,998,882,473







    2,092,400,120







    1,980,640,851







    1,995,977,934



    Non-GAAP net (loss) income

    attributable to ordinary

    shareholders per Class A and

    Class B ordinary share





































        Basic





    (0.03)







    0.01







    0.00







    (0.07)







    0.01







    0.00



        Diluted





    (0.03)







    0.01







    0.00







    (0.07)







    0.01







    0.00



    Non-GAAP net (loss) income

    attributable to ordinary

    shareholders per ADS (20

    ordinary shares equal to 1 ADS)





































        Basic





    (0.67)







    0.14







    0.02







    (1.45)







    0.22







    0.03



        Diluted





    (0.67)







    0.13







    0.02







    (1.45)







    0.20







    0.03



     

     

     

    Cision View original content:https://www.prnewswire.com/news-releases/yatsen-announces-second-quarter-2025-financial-results-302535546.html

    SOURCE Yatsen Holding Limited

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