Core Insights - Yatsen E-commerce's skincare brand Galénic has opened its first boutique in Guangzhou, marking a significant step in its expansion in the South China market [2][3] - The boutique showcases the brand's full range of star products and introduces innovative skincare solutions based on cellular technology, aiming to provide personalized skincare experiences [2][3] Company Strategy - Galénic, founded in 1978 by Dr. Pierre Fabre, emphasizes a technology-driven approach to skincare, utilizing its proprietary ActiveAnchor® technology for targeted cellular penetration [3] - The opening of the Guangzhou boutique reflects the brand's commitment to combining rigorous French scientific research with the needs of modern consumers, enhancing the overall aesthetic and product experience [3] Financial Performance - In Q3 2025, Yatsen E-commerce reported revenues of 998 million yuan, a year-on-year increase of 47.5%, with skincare revenue reaching 490.8 million yuan, up 83.2% from the previous year [4] - Skincare now accounts for 49.2% of total net revenue, up from 39.6% in the same period last year, indicating a successful shift towards high-end skincare [4] - The company has been actively acquiring international brands and increasing R&D investment, with R&D expenses rising to 39.8 million yuan in Q3 2025, representing 4.0% of total net revenue [4]