Yatsen Holding(US:YSG)2025-05-16 11:26Financial Performance - Total net revenues reached RMB 833.5 million, a 7.8% year-over-year increase[10] - The gross margin improved to 79.1%, up 1.4 percentage points year-over-year[10] - GAAP net loss margin narrowed significantly to 0.7%, a 15.5 percentage point improvement year-over-year[10] - The company achieved a non-GAAP net income margin of 0.9%, compared to a non-GAAP net loss margin of 10.8% in the prior year period[10] - Net cash generated from operating activities was RMB 23.8 million[10] Revenue Breakdown - Skincare brands experienced robust year-over-year growth, with net revenues increasing by 47.7% from RMB 245.3 million to RMB 362.4 million[20] - Combined net revenues for Galénic, DR.WU (mainland China business), and Eve Lom increased by 58.0% year-over-year[25] Market Context - Total retail sales of consumer goods in China grew by 4.6%[14] - Beauty product retail sales in China grew by 3.2%[14] Operating Expenses - Strategic marketing spending and selective closure of offline stores led to lower S&M expenses as a percentage of total net revenues[46] - Lower share-based compensation expenses and reduced headcount contributed to lower G&A expenses as a percentage of total net revenues[46]