revenues (290,886) (282,548) (39,796) (1,187,370) (901,455) (126,967)
------------- ------------- ------------- ------------- ------------- -------------
Gross profit 714,608 790,143 111,289 2,518,752 2,513,319 353,994
------------- ------------- ------------- ------------- ------------- -------------
Operating expenses:
Fulfilment expenses (62,523) (62,741) (8,837) (269,886) (229,021) (32,257)
Selling and
marketing expenses (535,244) (717,439) (101,049) (2,330,480) (2,230,974) (314,226)
General and
administrative
expenses (169,945) (158,716) (22,355) (720,409) (500,942) (70,556)
Research and
development
expenses (25,139) (36,851) (5,190) (126,875) (111,698) (15,732)
Impairment of
goodwill - (354,039) (49,865) - (354,039) (49,865)
------------- ------------- ------------- ------------- ------------- -------------
Total operating
expenses (792,851) (1,329,786) (187,296) (3,447,650) (3,426,674) (482,636)
------------- ------------- ------------- ------------- ------------- -------------
Loss from operations (78,243) (539,643) (76,007) (928,898) (913,355) (128,642)
------------- ------------- ------------- ------------- ------------- -------------
Financial income 7,456 15,763 2,220 34,656 89,020 12,538
Foreign currency
exchange gain
(loss) 8,380 6,400 901 (35,357) 7,218 1,017
(Loss) income from
equity method
investments, net (2,086) 4,446 626 12,548 10,122 1,426
Impairment of
investments - - - (5,078) - -
Other income, net 7,717 15,612 2,199 103,501 53,558 7,543
------------- ------------- ------------- ------------- ------------- -------------
Loss before income
tax expenses (56,776) (497,422) (70,061) (818,628) (753,437) (106,118)
------------- ------------- ------------- ------------- ------------- -------------
Income tax benefits
(expenses) 1,823 2,896 408 (2,705) 3,210 452
------------- ------------- ------------- ------------- ------------- -------------
Net loss (54,953) (494,526) (69,653) (821,333) (750,227) (105,666)
------------- ------------- ------------- ------------- ------------- -------------
Net loss attributable
to non-controlling
interests and
redeemable
non-controlling
interests 2,705 4,011 565 5,962 5,439 766
Accretion to
redeemable
non-controlling
interests - - - - (2,975) (419)
------------- ------------- ------------- ------------- ------------- -------------
Net loss attributable
to Yatsen's
shareholders (52,248) (490,515) (69,088) (815,371) (747,763) (105,319)
============= ============= ============= ============= ============= =============
Shares used in
calculating loss
per share (1):
Weighted average
number of Class A
and Class B
ordinary shares:
Basic 2,236,277,374 2,146,881,745 2,146,881,745 2,372,728,777 2,195,818,231 2,195,818,231
Diluted 2,236,277,374 2,146,881,745 2,146,881,745 2,372,728,777 2,195,818,231 2,195,818,231
Net loss per Class
A and Class B
ordinary share
Basic (0.02) (0.23) (0.03) (0.34) (0.34) (0.05)
Diluted (0.02) (0.23) (0.03) (0.34) (0.34) (0.05)
Net loss per ADS (4
ordinary shares
equal to 1 ADS)
Basic (0.09) (0.91) (0.13) (1.37) (1.36) (0.19)
Diluted (0.09) (0.91) (0.13) (1.37) (1.36) (0.19)
For the Three Months Ended For the Year Ended
December 31, December 31,
--------------------------- --------------------------
2022 2023 2023 2022 2023 2023
-------- ------- -------- ------- ------- --------
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
expenses 937 256 36 4,267 2,055 289
Selling and
marketing
expenses 13,712 3,298 465 62,231 23,518 3,312
General and
administrative
expenses 57,586 39,688 5,590 248,400 46,902 6,606
Research and
development
expenses 4,490 1,241 175 25,962 5,027 708
------- ------- -------- ------- ------- --------
Total 76,725 44,483 6,266 340,860 77,502 10,915
------- ------- -------- ------- ------- --------
(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 December 31, For the Year Ended December 31,
-------------------------------------------- -------------------------------------------
2022 2023 2023 2022 2023 2023
-------------- ------------- ------------- ------------- ------------- -------------
RMB'000 RMB'000 USD'000 RMB'000 RMB'000 USD'000
Loss from
operations (78,243) (539,643) (76,007) (928,898) (913,355) (128,642)
Share-based
compensation
expenses 76,725 44,483 6,266 340,860 77,502 10,915
Impairment of
goodwill - 354,039 49,865 - 354,039 49,865
Amortization of
intangible
assets
resulting from
assets and
business
acquisitions 13,063 15,231 2,145 48,700 54,297 7,648
------------- ------------- ------------- ------------- ------------- -------------
Non-GAAP income
(loss) from
operations 11,545 (125,890) (17,731) (539,338) (427,517) (60,214)
------------- ------------- ------------- ------------- ------------- -------------
Net loss (54,953) (494,526) (69,653) (821,333) (750,227) (105,666)
Share-based
compensation
expenses 76,725 44,483 6,266 340,860 77,502 10,915
Impairment of
goodwill - 354,039 49,865 - 354,039 49,865
Amortization of
intangible
assets
resulting from
assets and
business
acquisitions 13,063 15,231 2,145 48,700 54,297 7,648
Revaluation of
investments on
the share of
equity method
investments 2,071 (10,337) (1,456) (12,779) (22,324) (3,144)
Tax effects on
non-GAAP
adjustments (2,229) (2,635) (371) (8,360) (9,356) (1,318)
------------- ------------- ------------- ------------- ------------- -------------
Non-GAAP net
income (loss) 34,677 (93,745) (13,204) (452,912) (296,069) (41,700)
------------- ------------- ------------- ------------- ------------- -------------
Net loss
attributable
to Yatsen's
shareholders (52,248) (490,515) (69,088) (815,371) (747,763) (105,319)
Share-based
compensation
expenses 76,725 44,483 6,266 340,860 77,502 10,915
Impairment of
goodwill - 354,039 49,865 - 354,039 49,865
Amortization of
intangible
assets
resulting from
assets and
business
acquisitions 12,780 14,945 2,105 47,663 53,214 7,495
Revaluation of
investments on
the share of
equity method
investments 2,071 (10,337) (1,456) (12,779) (22,324) (3,144)
Tax effects on
non-GAAP
adjustments (2,229) (2,635) (371) (8,360) (9,356) (1,318)
Accretion to
redeemable
non-
controlling
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