Yatsen reported Q4 2025 total net revenues of CNY1.38 billion (+20.1%), with gross margin of 77.7% and net income of CNY3.0 million. Q4 non-GAAP net income was CNY41.2 million. Skincare Brands net revenues in Q4 were CNY842.8 million (+51.9%), representing 61.1% of total net revenues. Q4 operating expenses were CNY1.08 billion (78.6% of total net revenues), including selling and marketing expenses of CNY893.8 million (64.8% of total net revenues) and R&D expenses of CNY38.8 million (2.8% of total net revenues); the company reported no goodwill impairment in Q4 2025. For FY 2025, Yatsen posted total net revenues of CNY4.30 billion (+26.7%), gross margin of 78.2%, and net loss of CNY92.4 million, while FY non-GAAP net income was CNY8.4 million. Net revenues from Skincare Brands were CNY2.28 billion (+63.5%), accounting for 53.0% of FY total net revenues. As of December 31, 2025, cash, restricted cash and short-term investments were CNY1.05 billion, and FY net cash used in operating activities was CNY94.7 million. Management highlighted a strategic transformation focused on R&D-led product innovation, strengthening brand equity across its multi-brand portfolio, and improving profitability; the company guided Q1 2026 total net revenues to CNY958.6 million to CNY1.08 billion (+15% to +30%).
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Yatsen Holding Ltd. published the original content used to generate this news brief via PR Newswire (Ref. ID: 202603020500PR_NEWS_USPR_____CN98694) on March 02, 2026, and is solely responsible for the information contained therein.
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