Core Insights - Yatsen Holding Limited reported a revenue of 1.09 billion yuan for Q2 2025, representing a year-on-year growth of 36.8% [1] - The net loss narrowed to 19.5 million yuan, a reduction of 77.2% compared to the previous year [1] - Non-GAAP net profit was 11.5 million yuan, a significant improvement from a loss of 74.9 million yuan in the same period last year [1] - Gross margin increased from 76.7% in the previous year to 78.3% [1] Revenue Breakdown - Skincare brand revenue reached 581.3 million yuan, showing a year-on-year increase of 78.7%, accounting for 53.5% of total revenue, up from 40.9% in the same period last year [1] - Makeup brand revenue grew by 8.8% year-on-year [1] Expense Analysis - Sales and marketing expenses amounted to 722.4 million yuan, increasing by over 30% year-on-year, but the proportion of total revenue decreased from 68.6% to 66.5% [1] - R&D expenses as a percentage of total revenue decreased from 3.7% in the previous year to 3.3% [1] Future Outlook - The company expects Q3 2025 net revenue to be between 778.6 million yuan and 880.1 million yuan, indicating a year-on-year growth of approximately 15% to 30% [1]