Yatsen Holding (YSG) has released an update.
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Yatsen Holding reported a 5.7% decline in net revenues for Q3 2024, with a boost in its skincare segment by 3.6%, reflecting resilience amid challenging market conditions in China’s beauty sector. The company improved its gross margin to 75.9% and reduced its net loss, signaling strategic cost management and growth in premium skincare brands like Galénic and DR.WU. Despite the overall revenue drop, Yatsen remains confident in its development strategy to enhance brand equity and drive profitability.
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