Yatsen Announces First Quarter 2026 Financial Results

Yatsen Holding Limited announced its unaudited financial results for the first quarter ended March 31, 2026. Total net revenues increased by 22.5% to RMB1.02 billion, primarily driven by a 58.5% increase in skincare brand revenues. Gross margin improved to 80.2%. However, the company reported a net loss of RMB61.9 million, compared to a net loss of RMB5.6 million in the prior year period. This was partly due to a significant increase in selling and marketing expenses, which rose by 32.5% to RMB918.1 million. The company expects total net revenues for the second quarter of 2026 to be between RMB1.20 billion and RMB1.30 billion, representing a year-over-year increase of 10% to 20%. Yatsen also announced the first closing of its private placement of convertible notes and warrants, raising approximately US$120 million.