Yatsen Holding Ltd. ( (YSG) ) has released its Q3 earnings. Here is a breakdown of the information Yatsen Holding Ltd. presented to its investors.
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Yatsen Holding Limited, a China-based beauty group, is known for its diverse range of color cosmetics and skincare brands. Founded in 2016, it operates primarily in the beauty industry, engaging customers through both online and offline platforms.
In its third-quarter 2024 financial results, Yatsen reported a 5.7% decline in total net revenues to RMB677.0 million, though revenues from its skincare brands saw a modest increase. The company improved its gross margin to 75.9% and narrowed its net loss compared to the previous year.
Key highlights include a 3.6% increase in skincare brand revenues, now comprising 39.6% of total net revenues. Operating expenses decreased by 12%, contributing to a reduced net loss of RMB121.1 million. The company also enhanced its logistics efficiency, reducing fulfillment expenses as a percentage of total net revenues.
Looking ahead, Yatsen remains optimistic about its strategic direction and execution capabilities, focusing on enhancing brand equity and optimizing its cost structure. Despite challenges in the beauty sector, the company expects stable revenue growth in the coming quarter.
