Yatsen Announces Second Quarter 2026 Financial Results
Yatsen (YSG) reported second quarter 2026 net revenues of RMB1.14 billion, up 5.1% year over year, with a significantly wider net loss.
Rhea-AI Summary
Yatsen (YSG) reported second quarter 2026 net revenues of RMB1.14 billion, up 5.1% year over year, with a significantly wider net loss. Skincare brands drove growth, while color cosmetics declined sharply.
Skincare revenues rose 40.4% to RMB816.1 million and accounted for 71.5% of total net revenues, offsetting a 35.8% decline in color cosmetics. Gross margin fell to 73.9% from 78.3% due to higher inventory provisions related to color cosmetics portfolio optimization. Operating expenses increased 7.7% to RMB975.7 million, pushing operating loss to RMB131.9 million and net loss to RMB90.8 million, versus RMB19.5 million a year earlier. Non-GAAP results also swung to a loss, with non-GAAP net loss at RMB99.4 million compared with non-GAAP net income previously. Cash, restricted cash and short-term investments were RMB1.06 billion at June 30, 2026. Yatsen appointed Li Wang as Co-Chief Financial Officer effective September 2, 2026, with an expected transition to CFO after the 2026 annual report. For Q3 2026, the company guides net revenues of RMB898.6–998.4 million, implying a 0–10% year-over-year decline.
Positive
- Total net revenues rose 5.1% year over year to RMB1.14 billion
- Skincare revenues grew 40.4% YoY to RMB816.1 million and 71.5% of sales
- Fulfillment expenses fell to RMB56.1 million, 4.9% of revenue from 5.8%
- Cash, restricted cash and short-term investments were RMB1.06 billion at June 30, 2026
- New Co-CFO Li Wang appointed with extensive consumer industry and accounting experience
Negative
- Gross margin declined to 73.9% from 78.3% due to higher inventory provisions
- Operating loss widened to RMB131.9 million, margin -11.5% vs -5.1% a year ago
- Net loss increased to RMB90.8 million, margin -8.0% vs -1.8% prior year
- Non-GAAP net result swung to a loss of RMB99.4 million from income of RMB11.5 million
- Color cosmetics revenues fell 35.8% year over year
- Net cash from operations turned to an outflow of RMB78.0 million from inflow of RMB77.7 million
- Q3 2026 guidance implies 0% to 10% year-over-year revenue decline to RMB898.6–998.4 million
Market reaction after 2Q26 earnings report: YSG -6.02%
Following this news, YSG has declined 6.02%, reflecting a notable negative market reaction. The stock is currently trading at $2.50.
Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 26 | Q1 earnings | Negative | +3.9% | Sales growth accompanied by significantly wider losses and a non-GAAP loss. |
| Mar 02 | FY25 earnings | Positive | -9.0% | Revenue growth and improved profitability contrasted with an 8.99% negative reaction. |
| Nov 17 | Q3 earnings | Positive | -20.3% | Strong revenue growth and narrower losses preceded a 20.32% negative reaction. |
| Aug 21 | Q2 earnings | Positive | +0.6% | Revenue and skincare growth, margin expansion, and non-GAAP income accompanied a positive reaction. |
| Feb 25 | Q4/FY24 earnings | Negative | -4.6% | Goodwill impairment and a substantial net loss accompanied a negative reaction. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Tag-matched earnings reactions averaged -5.88%, with negative responses recurring despite some positive operating results.
Key Terms
non-gaap financial measure financial
diluted ads financial
sku rationalization technical
operating loss margin financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Conference Call to Be Held at 7:30 A.M.
Second Quarter 2026 Highlights
- Total net revenues for the second quarter of 2026 increased by
5.1% toRMB1.14 billion (US ) from$168.3 million RMB1.09 billion for the prior year period. - Total net revenues from Skincare Brands[1] for the second quarter of 2026 increased by
40.4% toRMB816.1 million (US ) from$120.3 million RMB581.3 million for the prior year period. As a percentage of total net revenues, total net revenues from Skincare Brands for the second quarter of 2026 were71.5% , as compared with53.5% for the prior year period. - Gross margin for the second quarter of 2026 decreased to
73.9% from78.3% for the prior year period. - Net loss for the second quarter of 2026 was
RMB90.8 million (US .4 million), as compared with$13 RMB19.5 million for the prior year period. Non-GAAP net loss[2] for the second quarter of 2026 wasRMB99.4 million (US ), as compared with non-GAAP net income of$14.7 million RMB11.5 million for the prior year period.
Mr. Jinfeng Huang, Founder, Chairman and Chief Executive Officer of Yatsen, stated, "
Mr. Donghao Yang, Director and Chief Financial Officer of Yatsen, commented, "We delivered modest top-line growth in the second quarter of 2026, with net revenues increasing
Second Quarter 2026 Financial Results
Net Revenues
Total net revenues for the second quarter of 2026 increased by
Gross Profit and Gross Margin
Gross profit for the second quarter of 2026 decreased by
Operating Expenses
Total operating expenses for the second quarter of 2026 increased by
- Fulfillment Expenses. Fulfillment expenses for the second quarter of 2026 were
RMB56.1 million (US ), as compared with$8.3 million RMB63.3 million for the prior year period. As a percentage of total net revenues, fulfillment expenses for the second quarter of 2026 decreased to4.9% from5.8% for the prior year period. The decrease was primarily attributable to further improvements in logistics efficiency. - Selling and Marketing Expenses. Selling and marketing expenses for the second quarter of 2026 were
RMB807.6 million (US ), as compared with$119.0 million RMB722.4 million for the prior year period. As a percentage of total net revenues, selling and marketing expenses for the second quarter of 2026 increased to70.7% from66.5% for the prior year period. The increase was primarily driven by strategic investments in broadening consumer awareness and building long-term brand equity of our core skincare brands, coupled with higher traffic acquisition costs on the Douyin platform as the Company capitalized on the channel's strong growth momentum. - General and Administrative Expenses. General and administrative expenses for the second quarter of 2026 were
RMB74.8 million (US ), as compared with$11.0 million RMB84.1 million for the prior year period. As a percentage of total net revenues, general and administrative expenses for the second quarter of 2026 were6.6% as compared with7.7% for the prior year period. The decrease was primarily driven by lower share-based compensation expenses. - Research and Development Expenses. Research and development expenses for the second quarter of 2026 were
RMB37.3 million (US ), as compared with$5.5 million RMB36.1 million for the prior year period. As a percentage of total net revenues, research and development expenses for the second quarter of 2026 were3.3% , consistent with the prior year period.
Loss / Income from Operations
Loss from operations for the second quarter of 2026 was
Non-GAAP loss from operations[4] for the second quarter of 2026 was
Net Loss / Income
Net loss for the second quarter of 2026 was
Non-GAAP net loss for the second quarter of 2026 was
Balance Sheet and Cash Flow
As of June 30, 2026, the Company had cash, restricted cash and short-term investments of
Net cash used in operating activities for the second quarter of 2026 was
Appointment of Co-Chief Financial Officer
The Company is pleased to announce the appointment of Ms. Li Wang as Co-Chief Financial Officer, effective September 2, 2026. Ms. Wang brings over 15 years of experience in the consumer industry, having previously served as Chief Financial Officer at Proya Cosmetics Co., Ltd. and holding multiple professional accounting qualifications, including CMA, HKICPA and FIPA.
Ms. Wang will partner with Mr. Donghao Yang, the Company's Director and Chief Financial Officer, to ensure a seamless transition and provide continuity in the Company's financial leadership, and she is expected to succeed Mr. Yang as Chief Financial Officer after the release of the 2026 annual report on Form 20-F. The appointment reflects the Company's commitment to building a world-class leadership team and will further support the Company's ongoing strategic transformation and its focus on sustainable, profitable growth.
Business Outlook
For the third quarter of 2026, the Company expects its total net revenues to be between
Exchange Rate
This announcement contains translations of certain Renminbi ("RMB") amounts into
[1] Include net revenues from Galénic, DR.WU (its mainland |
[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, (v) impairment of investments and (vi) 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 income (loss) from operations is a non-GAAP financial measure. Non-GAAP income (loss) from operations is defined 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. |
[5] Non-GAAP operating income (loss) margin is a non-GAAP financial measure, which is defined as non-GAAP net income (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) impairment of investments, (vi) tax effects on non-GAAP adjustments and (vii) accretion to redeemable non-controlling interests. |
Conference Call Information
The Company's management will hold a conference call on Wednesday, September 2, 2026, at 7:30 A.M.
+1-888-346-8982 | |
International: | +1-412-902-4272 |
Mainland | 400-120-1203 |
800-905-945 | |
+852-3018-4992 |
The replay will be accessible through Wednesday, September 9, 2026 by dialing the following numbers:
+1-855-669-9658 | |
International: | +1-412-317-0088 |
Replay Access Code: | 3486688 |
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 vision of becoming a world-class pioneer in beauty innovation. 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), and Eve Lom. Our brands are strategically positioned to capture a wide spectrum of consumer demographics and price points, ranging from the mass market to the prestige and clinical segments. Yatsen thrives on the synergy of brand equity, product strength and operational agility, anchored by a strong commitment to R&D and consumer insights.
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, (v) impairment of investments and (vi) 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) impairment of investments, (vi) tax effects on non-GAAP adjustments and (vii) 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 measures 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: ir@yatsenglobal.com
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, | ||||||||||
2025 | 2026 | 2026 | ||||||||||
RMB'000 | RMB'000 | USD'000 | ||||||||||
Assets | ||||||||||||
Current assets | ||||||||||||
Cash and cash equivalents | 765,379 | 710,286 | 104,683 | |||||||||
Restricted cash | 42,117 | 4,667 | 688 | |||||||||
Short-term investments | 246,008 | 340,545 | 50,190 | |||||||||
Accounts receivable, net | 220,870 | 216,722 | 31,941 | |||||||||
Inventories, net | 508,730 | 554,572 | 81,734 | |||||||||
Prepayments and other current assets | 450,970 | 411,660 | 60,671 | |||||||||
Amounts due from related parties | 114 | 68 | 10 | |||||||||
Total current assets | 2,234,188 | 2,238,520 | 329,917 | |||||||||
Non-current assets | ||||||||||||
Investments | 653,560 | 765,582 | 112,833 | |||||||||
Property and equipment, net | 77,014 | 66,072 | 9,738 | |||||||||
Goodwill, net | 155,029 | 155,029 | 22,848 | |||||||||
Intangible assets, net | 537,509 | 491,158 | 72,388 | |||||||||
Deferred tax assets | 1,435 | 686 | 101 | |||||||||
Right-of-use assets, net | 173,915 | 181,682 | 26,777 | |||||||||
Other non-current assets | 14,332 | 25,940 | 3,823 | |||||||||
Total non-current assets | 1,612,794 | 1,686,149 | 248,508 | |||||||||
Total assets | 3,846,982 | 3,924,669 | 578,425 | |||||||||
Liabilities, redeemable non-controlling interests and shareholders' | ||||||||||||
Current liabilities | ||||||||||||
Accounts and notes payable | 149,371 | 174,451 | 25,711 | |||||||||
Advances from customers | 28,821 | 32,070 | 4,727 | |||||||||
Accrued expenses and other liabilities | 348,700 | 304,369 | 44,858 | |||||||||
Amounts due to related parties | 21,262 | 19,577 | 2,885 | |||||||||
Income tax payables | 13,690 | 13,779 | 2,031 | |||||||||
Lease liabilities due within one year | 53,435 | 61,256 | 9,028 | |||||||||
Total current liabilities | 615,279 | 605,502 | 89,240 | |||||||||
Non-current liabilities | ||||||||||||
Convertible notes | - | 408,654 | 60,228 | |||||||||
Deferred tax liabilities | 107,906 | 112,343 | 16,557 | |||||||||
Lease liabilities | 123,157 | 127,790 | 18,834 | |||||||||
Total non-current liabilities | 231,063 | 648,787 | 95,619 | |||||||||
Total liabilities | 846,342 | 1,254,289 | 184,859 | |||||||||
Redeemable non-controlling interests | 1,337 | 1,337 | 197 | |||||||||
Shareholders' equity | ||||||||||||
Ordinary Shares ( | 173 | 173 | 25 | |||||||||
Treasury shares | (1,250,678) | (1,275,611) | (188,002) | |||||||||
Additional paid-in capital | 12,296,367 | 12,178,055 | 1,794,823 | |||||||||
Statutory reserve | 31,527 | 31,527 | 4,647 | |||||||||
Accumulated deficit | (8,141,545) | (8,292,887) | (1,222,220) | |||||||||
Accumulated other comprehensive income | 74,760 | 27,786 | 4,096 | |||||||||
Total Yatsen Holding Limited shareholders' equity | 3,010,604 | 2,669,043 | 393,369 | |||||||||
Non-controlling interests | (11,301) | - | - | |||||||||
Total shareholders' equity | 2,999,303 | 2,669,043 | 393,369 | |||||||||
Total liabilities, redeemable non-controlling interests and | 3,846,982 | 3,924,669 | 578,425 | |||||||||
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, | |||||||||||||||||||||||
2025 | 2026 | 2026 | 2025 | 2026 | 2026 | |||||||||||||||||||
RMB'000 | RMB'000 | USD'000 | RMB'000 | RMB'000 | USD'000 | |||||||||||||||||||
Total net revenues | 1,086,732 | 1,142,180 | 168,337 | 1,920,265 | 2,163,166 | 318,811 | ||||||||||||||||||
Total cost of revenues | (236,335) | (298,361) | (43,973) | (410,741) | (500,158) | (73,714) | ||||||||||||||||||
Gross profit | 850,397 | 843,819 | 124,364 | 1,509,524 | 1,663,008 | 245,097 | ||||||||||||||||||
Operating expenses: | ||||||||||||||||||||||||
Fulfilment expenses | (63,288) | (56,089) | (8,266) | (115,131) | (117,227) | (17,277) | ||||||||||||||||||
Selling and marketing expenses | (722,405) | (807,559) | (119,019) | (1,276,220) | (1,544,795) | (227,675) | ||||||||||||||||||
General and administrative expenses | (84,072) | (74,815) | (11,026) | (148,955) | (155,141) | (22,865) | ||||||||||||||||||
Research and development expenses | (36,116) | (37,250) | (5,490) | (58,753) | (76,690) | (11,303) | ||||||||||||||||||
Total operating expenses | (905,881) | (975,713) | (143,801) | (1,599,059) | (1,893,853) | (279,120) | ||||||||||||||||||
Loss from operations | (55,484) | (131,894) | (19,437) | (89,535) | (230,845) | (34,023) | ||||||||||||||||||
Financial income | 11,467 | 3,883 | 572 | 22,073 | 14,624 | 2,155 | ||||||||||||||||||
Interest expenses | - | (743) | (110) | - | (743) | (110) | ||||||||||||||||||
Foreign currency exchange gain (loss) | 5,507 | 402 | 59 | 16,171 | (2,796) | (412) | ||||||||||||||||||
Income from equity method investments, net | 877 | 38,204 | 5,631 | 3,382 | 50,593 | 7,456 | ||||||||||||||||||
Other income, net | 17,395 | 7,158 | 1,055 | 21,637 | 25,624 | 3,777 | ||||||||||||||||||
Loss before income tax expenses | (20,238) | (82,990) | (12,230) | (26,272) | (143,543) | (21,157) | ||||||||||||||||||
Income tax benefits (expenses) | 763 | (7,838) | (1,155) | 1,196 | (9,213) | (1,358) | ||||||||||||||||||
Net loss | (19,475) | (90,828) | (13,385) | (25,076) | (152,756) | (22,515) | ||||||||||||||||||
Net loss attributable to non-controlling interests and redeemable non- | 1,807 | - | - | 2,105 | 1,414 | 208 | ||||||||||||||||||
Net loss attributable to Yatsen's shareholders | (17,668) | (90,828) | (13,385) | (22,971) | (151,342) | (22,307) | ||||||||||||||||||
Shares used in calculating loss per share (1): | ||||||||||||||||||||||||
Weighted average number of Class A and Class B ordinary shares: | ||||||||||||||||||||||||
Basic | 1,854,988,850 | 1,874,649,633 | 1,874,649,633 | 1,846,275,864 | 1,875,769,426 | 1,875,769,426 | ||||||||||||||||||
Diluted | 1,854,988,850 | 1,874,649,633 | 1,874,649,633 | 1,846,275,864 | 1,875,769,426 | 1,875,769,426 | ||||||||||||||||||
Net loss per Class A and Class B ordinary share | ||||||||||||||||||||||||
Basic | (0.01) | (0.05) | (0.01) | (0.01) | (0.08) | (0.01) | ||||||||||||||||||
Diluted | (0.01) | (0.05) | (0.01) | (0.01) | (0.08) | (0.01) | ||||||||||||||||||
Net loss per ADS (20 ordinary shares equal to 1 ADS) | ||||||||||||||||||||||||
Basic | (0.19) | (0.97) | (0.14) | (0.25) | (1.61) | (0.24) | ||||||||||||||||||
Diluted | (0.19) | (0.97) | (0.14) | (0.25) | (1.61) | (0.24) | ||||||||||||||||||
For the Three Months Ended June 30, | For the Six Months Ended June 30, | |||||||||||||||||||||||
2025 | 2026 | 2026 | 2025 | 2026 | 2026 | |||||||||||||||||||
Share-based compensation expenses are included in the | RMB'000 | RMB'000 | USD'000 | RMB'000 | RMB'000 | USD'000 | ||||||||||||||||||
Fulfilment expenses (income) | 93 | (46) | (7) | 191 | 203 | 30 | ||||||||||||||||||
Selling and marketing expenses | 1,795 | 2,396 | 353 | 2,552 | 2,544 | 375 | ||||||||||||||||||
General and administrative expenses | 20,638 | 6,132 | 904 | 28,369 | 8,135 | 1,199 | ||||||||||||||||||
Research and development expenses | 1,429 | 737 | 109 | 1,469 | 1,896 | 279 | ||||||||||||||||||
Total | 23,955 | 9,219 | 1,359 | 32,581 | 12,778 | 1,883 | ||||||||||||||||||
(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 | ||||||||||||||||||||||||
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, | |||||||||||||||||||||||
2025 | 2026 | 2026 | 2025 | 2026 | 2026 | |||||||||||||||||||
RMB'000 | RMB'000 | USD'000 | RMB'000 | RMB'000 | USD'000 | |||||||||||||||||||
Loss from operations | (55,484) | (131,894) | (19,437) | (89,535) | (230,845) | (34,023) | ||||||||||||||||||
Share-based compensation expenses | 23,955 | 9,219 | 1,359 | 32,581 | 12,778 | 1,883 | ||||||||||||||||||
Amortization of intangible assets resulting from assets and business | 11,147 | 10,624 | 1,566 | 21,708 | 21,383 | 3,151 | ||||||||||||||||||
Non-GAAP loss from operations | (20,382) | (112,051) | (16,512) | (35,246) | (196,684) | (28,989) | ||||||||||||||||||
Net loss | (19,475) | (90,828) | (13,385) | (25,076) | (152,756) | (22,515) | ||||||||||||||||||
Share-based compensation expenses | 23,955 | 9,219 | 1,359 | 32,581 | 12,778 | 1,883 | ||||||||||||||||||
Amortization of intangible assets resulting from assets and business | 11,147 | 10,624 | 1,566 | 21,708 | 21,383 | 3,151 | ||||||||||||||||||
Revaluation of investments on the share of equity method | (3,141) | (35,578) | (5,244) | (9,151) | (46,047) | (6,786) | ||||||||||||||||||
Tax effects on non-GAAP adjustments | (991) | 7,122 | 1,050 | (1,424) | 7,951 | 1,172 | ||||||||||||||||||
Non-GAAP net income (loss) | 11,495 | (99,441) | (14,654) | 18,638 | (156,691) | (23,095) | ||||||||||||||||||
Net loss attributable to Yatsen's shareholders | (17,668) | (90,828) | (13,385) | (22,971) | (151,342) | (22,307) | ||||||||||||||||||
Share-based compensation expenses | 23,955 | 9,219 | 1,359 | 32,581 | 12,778 | 1,883 | ||||||||||||||||||
Amortization of intangible assets resulting from assets and business | 10,743 | 10,624 | 1,566 | 20,922 | 21,097 | 3,109 | ||||||||||||||||||
Revaluation of investments on the share of equity method | (3,141) | (35,578) | (5,244) | (9,151) | (46,047) | (6,786) | ||||||||||||||||||
Tax effects on non-GAAP adjustments | (963) | 7,122 | 1,050 | (1,368) | 7,951 | 1,172 | ||||||||||||||||||
Non-GAAP net income (loss) attributable to Yatsen's | 12,926 | (99,441) | (14,654) | 20,013 | (155,563) | (22,929) | ||||||||||||||||||
Shares used in calculating loss per share: | ||||||||||||||||||||||||
Weighted average number of Class A and Class B ordinary shares: | ||||||||||||||||||||||||
Basic | 1,854,988,850 | 1,874,649,633 | 1,874,649,633 | 1,846,275,864 | 1,875,769,426 | 1,875,769,426 | ||||||||||||||||||
Diluted | 1,998,882,473 | 1,874,649,633 | 1,874,649,633 | 1,980,640,851 | 1,875,769,426 | 1,875,769,426 | ||||||||||||||||||
Non-GAAP net income (loss) attributable to ordinary | ||||||||||||||||||||||||
Basic | 0.01 | (0.05) | (0.01) | 0.01 | (0.08) | (0.01) | ||||||||||||||||||
Diluted | 0.01 | (0.05) | (0.01) | 0.01 | (0.08) | (0.01) | ||||||||||||||||||
Non-GAAP net income (loss) attributable to ordinary | ||||||||||||||||||||||||
Basic | 0.14 | (1.06) | (0.16) | 0.22 | (1.66) | (0.24) | ||||||||||||||||||
Diluted | 0.13 | (1.06) | (0.16) | 0.20 | (1.66) | (0.24) | ||||||||||||||||||
View original content:https://www.prnewswire.com/news-releases/yatsen-announces-second-quarter-2026-financial-results-302867531.html
SOURCE Yatsen Holding Limited