Yatsen Announces Fourth Quarter and Full Year 2021 Financial Results
China
Zhongshan Holdings Limited (“Yat-sen” or “the Company”), a leading beauty company in China (NYSE: YSG), today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2021.
highlights for the fourth quarter and full year of 2021
- total net income for the fourth quarter of 2021 decreased 22.1% from rmb1.96 billion in the year-ago quarter to rmb1.53 billion (us$239.8 million). total net income for the full year 2021 increased by 11.6% from rmb5.23 billion in the same period last year to rmb5.84 billion (us$916.4 million).
- gross margin for the fourth quarter of 2021 was 65.0%, compared to 66.3% in the year-ago quarter. gross interest rate for the full year 2021 was 66.8%, compared to 64.3% for the same period last year.
- total sales[1] for the fourth quarter of 2021 were rmb1.88 billion (us$295 million), down 17.2% from rmb2.27 billion in the year-ago quarter. total sales for the full year 2021 increased by 13.1% from rmb6.05 billion in the same period last year to rmb6.84 billion (us$1.07 billion).
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[1] total sales represents the total value of all orders for products and services placed and shipped, regardless of whether the goods are returned. the calculation of total sales includes the shipping costs paid by the customer to the company. |
“The fourth quarter was a challenging quarter, marked by weak consumer demand and fierce competition in the make-up space,” said Mr. Jin Feng, founder, chairman and CEO of Yatsen. “Despite the challenges, we have improved our revenue and gross margin for the full year due to the significant growth of our skincare brand. We reaffirm our commitment to brand building, R&D investment and sustainable growth as core pillars of our strategic transformation in 2022.
“Despite a 22.1% decline in total net income in the fourth quarter, we achieved an 11.6% increase in total net income for the full year 2021,” commented Mr. Donghao Yang, Director and Chief Financial Officer of Yatsen. “Our full-year gross margin increased by 2.5 percentage points to 66.8 percent, compared to 64.3 percent in the year-ago quarter, driven by increased discipline in pricing and promotions. Going forward, we will continue to focus heavily on improving operating margins, optimizing our cost structure, and investing in branding and research and development to ensure our long-term success. At the beginning of 2022, with a cash balance of approximately RMB3.1 billion, we have sufficient liquidity and flexibility to pursue our strategic objectives.
fourth quarter 2021 financial results
net income
total net income for the fourth quarter of 2021 decreased 22.1% from rmb1.96 billion in the year-ago quarter to rmb1.53 billion (us$239.8 million). the decline was mainly due to lower sales from makeup brands, partially offset by higher sales from skincare brands.
gross profit and gross margin
gross profit for the fourth quarter of 2021 decreased by 23.7% from rmb1.3 billion in the year-ago quarter to rmb993 million (us$155.8 million). gross margin for the fourth quarter of 2021 decreased to 65.0% from 66.3% in the year-ago quarter. this decrease was primarily attributable to inventory reserves charged at the end of the quarter, partially offset by (i) increased sales of our high gross margin products and (ii) increased discipline in pricing, discounts and promotions.
operating expenses
total operating expenses for the fourth quarter of 2021 decreased by 47.3% to rmb1.49 billion (us$234.6 million) from rmb2.83 billion in the same period last year. as a percentage of total net income, total operating expenses were 97.8% in the fourth quarter of 2021, compared to 144.5% in the same period last year.
- fulfillment fees. fulfillment expenses for the fourth quarter of 2021 were rmb123.1 million (us$19.3 million), compared to rmb144.7 million for the same period last year. as a percentage of total net income, fulfillment expenses for the fourth quarter of 2021 increased to 8.1% from 7.4% in the same period last year. this increase was mainly attributed to lower revenue levels leading to lower customer service cost efficiencies.
- sales and marketing expenses. sales and marketing expenses were rmb1.08 billion (us$169.4 million) for the fourth quarter of 2021, compared to rmb1.38 billion for the same period last year. as a percentage of total net income, sales and marketing expenses increased to 70.7% in the fourth quarter of 2021 from 70.3% in the same period last year. this increase was primarily attributable to higher fees and brand fees associated with offline store optimization, partially offset by lower online traffic charges.
- General and administrative expenses. General and administrative expenses for the fourth quarter of 2021 were RMB248.7 million (US$39 million), compared to RMB1.29 billion for the same period last year 。 General and administrative expenses as a percentage of total net income for the fourth quarter of 2021 decreased to 16.3% from 65.6% in the year-ago quarter. The decrease was primarily attributable to a decrease in stock-based compensation expense compared to the same period last year, when significant stock-based compensation expense arising from the IPO was recognized for U.S. GAAP reporting purposes.
- r&d expenses. r&d expenses for the fourth quarter of 2021 were rmb43.3 million (us$6.8 million), compared to rmb25.6 million for the same period last year. r&d expenses as a percentage of total net income rose to 2.8% in the fourth quarter of 2021 from 1.3% in the same period last year. the increase was primarily attributable to an increase in personnel costs, raw materials, equipment and share-based compensation expense.
operational losses
operating loss for the fourth quarter of 2021 decreased by 67.3% from rmb1.53 billion in the year-ago quarter to rmb501.8 million (us$78.7 million). the operating loss margin was 32.8%, compared to 78.2% in the same period last year.
Non-GAAP operating loss for the fourth quarter of 2021[2] increased 25.3% from RMB288 million in the year-ago quarter to RMB360.9 million (US$56.6 million). Non-GAAP operating loss margin was 23.6 percent, compared to 14.7 percent in the year-ago quarter.
net loss
Net loss for the fourth quarter of 2021 was RMB475.1 million (US$74.6 million), a decrease of 69.0% from RMB1.53 billion in the same period last year. Net loss margin was 31.1%, compared to 78.1% in the year-ago quarter. Net loss attributable to Common Shareholders of Yatsen was RMB0.75 (US$0.12) in the fourth quarter of 2021 on a diluted ADS[3] basis, compared to RMB4.04 for the same period last year.
Non-GAAP net loss for the fourth quarter of 2021[4] increased 17.8% from RMB285.4 million in the year-ago quarter to RMB336.3 million (US$52.8 million). Non-GAAP net loss margin was 22.0%, compared to 14.5% in the year-ago quarter. Diluted ADS[5] non-GAAP net loss attributable to Yixian common shareholders was RMB0.53 (US$0.08) for the fourth quarter of 2021, compared to RMB0.72 for the same period last year.
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[2] Non-GAAP operating losses are non-GAAP financial measures. As of the first quarter of 2021, non-GAAP operating loss is defined as operating loss excluding share-based compensation expense and amortization of intangible assets resulting from asset and business acquisitions, and non-GAAP losses from operations for the previous year as disclosed in this document are calculated in the same way. |
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[3] ADS refers to the American depositary shares, each of which represents four Class A ordinary shares. |
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[4] Non-GAAP net loss is a non-GAAP financial measure. Effective from the first quarter of 2021, the non-GAAP net loss is defined as net loss excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from assets and business acquisitions and (iii) tax effects on non-GAAP adjustments, and non-GAAP net loss for the prior year period presented in this document is also calculated in the same manner. |
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[5] Non-GAAP net loss attributable to ordinary shareholders per diluted ADS is a non-GAAP financial measure. Effective from the first quarter of 2021, non-GAAP net loss attributable to ordinary shareholders per diluted ADS is defined as non-GAAP net loss attributable to ordinary shareholders, divided by the weighted average number of diluted ADS outstanding for computing diluted earnings per ADS, and non-GAAP net loss attributable to ordinary shareholders per diluted ADS for the prior year period presented in this document is also calculated in the same manner. Effective from the first quarter of 2021, non-GAAP net loss attributable to ordinary shareholders is defined as net loss attributable to ordinary shareholders excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from assets and business acquisitions, (iii) tax effects on non-GAAP adjustments, (iv) accretion to preferred shares, and (v) deemed dividends to preferred shareholders due to modification of preferred shares, and non-GAAP net loss attributable to ordinary shareholders for the prior year period presented in this document is also calculated in the same manner. |
Full Year 2021 Financial Results
Total net revenues for the full year of 2021 increased by 11.6% to RMB5.84 billion (US$916.4 million) from RMB5.23 billion in the prior year, primarily attributable to the increase in sales from our newly acquired and launched skincare brands, partially offset by a slight decline in sales from color cosmetics brands.
Gross profit for the full year of 2021 increased by 15.9% to RMB3.90 billion (US$611.8 million) from RMB3.36 billion in the prior year. Gross margin for the full year of 2021 was 66.8% compared with 64.3% in the prior year. The increase was primarily attributable to (i) increased sales from our higher-gross margin products, and (ii) enhanced discipline in pricing, discounts and promotions.
Loss from operations for the full year of 2021 was RMB1.62 billion (US$254.9 million), as compared with loss from operations of RMB2.68 billion in the prior year.
Non-GAAP loss from operations for the full year of 2021 was RMB1.05 billion (US$165.1 million), as compared with non-GAAP loss from operations of RMB779.5 million in the prior year.
Net loss for the full year of 2021 was RMB1.55 billion (US$242.8 million), as compared with net loss of RMB2.69 billion in the prior year. Net loss attributable to Yatsen’s ordinary shareholders per diluted ADS for the full year of 2021 was RMB2.44 (US$0.38), as compared with RMB19.12 in the prior year.
Non-GAAP net loss for the full year of 2021 was RMB981.8 million (US$154.1 million), as compared with non-GAAP net loss of RMB785.4 million in the prior year. Non-GAAP net loss attributable to Yatsen’s ordinary shareholders per diluted ADS for the full year of 2021 was RMB1.55 (US$0.24), as compared with RMB3.77 in the prior year.
Balance Sheet and Cash Flow
As of December 31, 2021, the Company had cash and cash equivalents and restricted cash of RMB3.14 billion (US$492.4 million), as compared with RMB5.73 billion as of December 31, 2020.
For the quarter ended December 31, 2021, net cash used in operating activities was RMB250.0 million (US$39.2 million). For the full year ended December 31, 2021, net cash used in operating activities was RMB1.02 billion (US$160.1 million).
Business Outlook
For the first quarter of 2022, the Company expects its total net revenues to be between RMB866.7 million and RMB938.9 million, representing a year-over-year decline of approximately 35% to 40%, primarily due to (i) high base of comparison to the prior year period which resulted from release of the pent-up demand due to the COVID-19 recovery, (ii) the softer-than-expected industry-wide color cosmetics sales, and (iii) continued focus on operating margin improvement and limits on discounts. These forecasts reflect the Company’s current and preliminary views on the market and operational conditions, which are subject to change.
Exchange Rate
This announcement contains translations of certain Renminbi (“RMB”) amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to US$ were made at a rate of RMB6.3726 to US$1.00, the exchange rate in effect as of December 30, 2021 as set forth in the H.10 statistical release of The Board of Governors of the Federal Reserve System. The Company makes no representation that any RMB or US$ amounts could have been, or could be, converted into US$ or RMB, as the case may be, at any particular rate, or at all.
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YATSEN HOLDING LIMITED |
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UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS |
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(All amounts in thousands, except for share, per share data or otherwise noted) |
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December 31, |
December 31, |
December 31, |
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2020 |
2021 |
2021 |
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|
RMB’000 |
RMB’000 |
USD’000 |
||||||||||
|
Assets |
||||||||||||
|
Current assets |
||||||||||||
|
Cash and cash equivalents |
5,727,029 |
3,138,008 |
492,422 |
|||||||||
|
Restricted cash |
6,363 |
– |
– |
|||||||||
|
Accounts receivable |
419,317 |
355,837 |
55,839 |
|||||||||
|
Inventories, net |
616,808 |
695,761 |
109,180 |
|||||||||
|
Prepayments and other current assets |
304,641 |
366,191 |
57,463 |
|||||||||
|
Amounts due from related parties |
14,370 |
60 |
9 |
|||||||||
|
Total current assets |
7,088,528 |
4,555,857 |
714,913 |
|||||||||
|
Non-current assets |
||||||||||||
|
Investments |
34,862 |
350,380 |
54,982 |
|||||||||
|
Property and equipment, net |
285,297 |
245,314 |
38,495 |
|||||||||
|
Goodwill |
20,596 |
869,421 |
136,431 |
|||||||||
|
Intangible assets, net |
189,090 |
745,851 |
117,040 |
|||||||||
|
Deferred tax assets |
597 |
2,000 |
314 |
|||||||||
|
Right-of-use assets, net |
536,710 |
422,966 |
66,373 |
|||||||||
|
Other non-current assets |
152,058 |
80,220 |
12,588 |
|||||||||
|
Total non-current assets |
1,219,210 |
2,716,152 |
426,223 |
|||||||||
|
Total assets |
8,307,738 |
7,272,009 |
1,141,136 |
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Liabilities, mezzanine equity and shareholders’ equity (deficit) |
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|
Current liabilities |
||||||||||||
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Accounts payable |
466,705 |
240,815 |
37,789 |
|||||||||
|
Advances from customers |
6,228 |
20,680 |
3,245 |
|||||||||
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Accrued expenses and other liabilities |
411,944 |
370,531 |
58,142 |
|||||||||
|
Amounts due to related parties |
11,814 |
13,967 |
2,192 |
|||||||||
|
Income tax payables |
18,686 |
16,747 |
2,628 |
|||||||||
|
Lease liabilities due within one year |
215,300 |
214,843 |
33,714 |
|||||||||
|
Total current liabilities |
1,130,677 |
877,583 |
137,710 |
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|
Non-current liabilities |
||||||||||||
|
Deferred tax liabilities |
1,557 |
124,450 |
19,529 |
|||||||||
|
Deferred income-non current |
– |
56,180 |
8,816 |
|||||||||
|
Lease liabilities |
311,910 |
206,303 |
32,373 |
|||||||||
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Total non-current liabilities |
313,467 |
386,933 |
60,718 |
|||||||||
|
Total liabilities |
1,444,144 |
1,264,516 |
198,428 |
|||||||||
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Redeemable non-controlling interests |
– |
338,587 |
53,132 |
|||||||||
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Shareholders‘ equity (deficit) |
||||||||||||
|
Ordinary Shares (US$0.00001 par value; 10,000,000,000 |
173 |
173 |
27 |
|||||||||
|
Treasury shares |
(12) |
(22,330) |
(3,504) |
|||||||||
|
Additional paid-in capital |
11,165,697 |
11,697,942 |
1,835,662 |
|||||||||
|
Statutory reserve |
20,051 |
21,352 |
3,351 |
|||||||||
|
Accumulated deficit |
(4,240,134) |
(5,782,169) |
(907,348) |
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Accumulated other comprehensive income (loss) |
(97,265) |
(255,780) |
(40,137) |
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Total Yatsen Holding Limited shareholders’ (deficit) |
6,848,510 |
5,659,188 |
888,051 |
|||||||||
|
Non-controlling interests |
15,084 |
9,718 |
1,525 |
|||||||||
|
Total shareholders’ (deficit) equity |
6,863,594 |
5,668,906 |
889,576 |
|||||||||
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Total liabilities, redeemable non-controlling interests |
8,307,738 |
7,272,009 |
1,141,136 |
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YATSEN HOLDING LIMITED |
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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
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(All amounts in thousands, except for share, per share data or otherwise noted) |
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For the Three Months Ended December 31, |
For the Year Ended December 31, |
|||||||||||||||||||||||
|
2020 |
2021 |
2021 |
2020 |
2021 |
2021 |
|||||||||||||||||||
|
RMB’000 |
RMB’000 |
USD’000 |
RMB’000 |
RMB’000 |
USD’000 |
|||||||||||||||||||
|
Total net revenues |
1,961,598 |
1,527,903 |
239,761 |
5,233,170 |
5,839,973 |
916,419 |
||||||||||||||||||
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Total cost of revenues |
(660,588) |
(534,881) |
(83,935) |
(1,869,145) |
(1,941,177) |
(304,613) |
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|
Gross profit |
1,301,010 |
993,022 |
155,826 |
3,364,025 |
3,898,796 |
611,806 |
||||||||||||||||||
|
Operating expenses: |
||||||||||||||||||||||||
|
Fulfillment expenses |
(144,715) |
(123,054) |
(19,310) |
(425,052) |
(434,018) |
(68,107) |
||||||||||||||||||
|
Selling and marketing expenses |
(1,378,407) |
(1,079,724) |
(169,432) |
(3,412,159) |
(4,005,589) |
(628,564) |
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|
General and administrative expenses |
(1,286,130) |
(248,706) |
(39,027) |
(2,142,973) |
(941,347) |
(147,718) |
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Research and development expenses |
(25,610) |
(43,314) |
(6,797) |
(66,512) |
(142,086) |
(22,296) |
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|
Total operating expenses |
(2,834,862) |
(1,494,798) |
(234,566) |
(6,046,696) |
(5,523,040) |
(866,685) |
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|
Income (loss) from operations |
(1,533,852) |
(501,776) |
(78,740) |
(2,682,671) |
(1,624,244) |
(254,879) |
||||||||||||||||||
|
Financial income |
5,292 |
10,877 |
1,707 |
14,313 |
45,658 |
7,165 |
||||||||||||||||||
|
Foreign currency exchange |
(2,038) |
6,178 |
969 |
(2,774) |
(1,751) |
(275) |
||||||||||||||||||
|
Income (loss) from equity |
(170) |
(1,127) |
(177) |
(293) |
5,978 |
938 |
||||||||||||||||||
|
Impairment loss of investments |
– |
(1,375) |
(216) |
– |
(1,375) |
(216) |
||||||||||||||||||
|
Other non-operating income (expenses) |
(2,089) |
13,537 |
2,124 |
(10,020) |
27,775 |
4,359 |
||||||||||||||||||
|
Income (loss) before income |
(1,532,857) |
(473,686) |
(74,333) |
(2,681,445) |
(1,547,959) |
(242,908) |
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|
Income tax (expense) benefit |
1,653 |
(1,391) |
(218) |
(6,970) |
921 |
145 |
||||||||||||||||||
|
Net income (loss) |
(1,531,204) |
(475,077) |
(74,551) |
(2,688,415) |
(1,547,038) |
(242,763) |
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|
Net loss attributable to non- |
608 |
1,881 |
295 |
608 |
6,304 |
989 |
||||||||||||||||||
|
Net income (loss) attributable |
(1,530,596) |
(473,196) |
(74,256) |
(2,687,807) |
(1,540,734) |
(241,774) |
||||||||||||||||||
|
Accretion to preferred shares |
(65,304) |
– |
– |
(242,209) |
– |
– |
||||||||||||||||||
|
Deemed dividends to preferred shareholders due to modification |
– |
– |
– |
(1,054,220) |
– |
– |
||||||||||||||||||
|
Net income (loss) attributable |
(1,595,900) |
(473,196) |
(74,256) |
(3,984,236) |
(1,540,734) |
(241,774) |
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Shares used in calculating |
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Weighted average number of |
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|
—Basic |
1,579,586,407 |
2,527,959,105 |
2,527,959,105 |
833,714,126 |
2,526,833,201 |
2,526,833,201 |
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|
—Diluted |
1,579,586,407 |
2,527,959,105 |
2,527,959,105 |
833,714,126 |
2,526,833,201 |
2,526,833,201 |
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Net income (loss) per Class A |
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|
Net income (loss) attributable to |
(1.01) |
(0.19) |
(0.03) |
(4.78) |
(0.61) |
(0.10) |
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|
Net income (loss) attributable to |
(1.01) |
(0.19) |
(0.03) |
(4.78) |
(0.61) |
(0.10) |
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|
Net income (loss) per ADS (4 |
||||||||||||||||||||||||
|
Net income (loss) attributable to |
(4.04) |
(0.75) |
(0.12) |
(19.12) |
(2.44) |
(0.38) |
||||||||||||||||||
|
Net income (loss) attributable to |
(4.04) |
(0.75) |
(0.12) |
(19.12) |
(2.44) |
(0.38) |
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For the Three Months Ended December 31, |
For the Year Ended December 31, |
|||||||||||||||||||||||
|
2020 |
2021 |
2021 |
2020 |
2021 |
2021 |
|||||||||||||||||||
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Share-based compensation expenses |
RMB’000 |
RMB’000 |
USD’000 |
RMB’000 |
RMB’000 |
USD’000 |
||||||||||||||||||
|
Fulfillment expenses |
2,947 |
2,073 |
325 |
2,947 |
13,122 |
2,059 |
||||||||||||||||||
|
Selling and marketing expenses |
54,332 |
20,640 |
3,239 |
54,332 |
80,558 |
12,641 |
||||||||||||||||||
|
General and administrative expenses |
1,184,585 |
103,845 |
16,296 |
1,841,409 |
418,823 |
65,722 |
||||||||||||||||||
|
Research and development expenses |
1,900 |
4,441 |
697 |
1,900 |
17,937 |
2,815 |
||||||||||||||||||
|
Total |
1,243,764 |
130,999 |
20,557 |
1,900,588 |
530,440 |
83,237 |
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(1) Authorized share capital is re-classified and re-designated into Class A ordinary shares and Class B ordinary shares, with each Class A ordinary share being entitled to one vote and each Class B ordinary share being entitled to twenty votes on all matters that are subject to shareholder vote.
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YATSEN HOLDING LIMITED |
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Unaudited Reconciliations of GAAP and Non-GAAP Results |
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(All amounts in thousands, except for share, per share data or otherwise noted) |
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For the Three Months Ended December 31, |
For the Year Ended December 31, |
|||||||||||||||||||||||
|
2020 |
2021 |
2021 |
2020 |
2021 |
2021 |
|||||||||||||||||||
|
RMB’000 |
RMB’000 |
USD’000 |
RMB’000 |
RMB’000 |
USD’000 |
|||||||||||||||||||
|
Income (loss) from operations |
(1,533,852) |
(501,776) |
(78,740) |
(2,682,671) |
(1,624,244) |
(254,879) |
||||||||||||||||||
|
Share-based compensation expenses |
1,243,764 |
130,999 |
20,557 |
1,900,588 |
530,440 |
83,237 |
||||||||||||||||||
|
Amortization of intangible assets resulting |
2,075 |
9,925 |
1,557 |
2,630 |
41,573 |
6,524 |
||||||||||||||||||
|
Non-GAAP income (loss) from operations |
(288,013) |
(360,852) |
(56,626) |
(779,453) |
(1,052,231) |
(165,118) |
||||||||||||||||||
|
Net income (loss) |
(1,531,204) |
(475,077) |
(74,551) |
(2,688,415) |
(1,547,038) |
(242,763) |
||||||||||||||||||
|
Share-based compensation expenses |
1,243,764 |
130,999 |
20,557 |
1,900,588 |
530,440 |
83,237 |
||||||||||||||||||
|
Amortization of intangible assets resulting |
2,075 |
9,925 |
1,557 |
2,630 |
41,573 |
6,524 |
||||||||||||||||||
|
Tax effects on non-GAAP adjustments |
(46) |
(2,102) |
(330) |
(185) |
(6,749) |
(1,059) |
||||||||||||||||||
|
Non-GAAP net income (loss) |
(285,411) |
(336,255) |
(52,767) |
(785,382) |
(981,774) |
(154,061) |
||||||||||||||||||
|
Net income (loss) attributable to ordinary |
(1,595,900) |
(473,196) |
(74,256) |
(3,984,236) |
(1,540,734) |
(241,774) |
||||||||||||||||||
|
Share-based compensation expenses |
1,243,764 |
130,999 |
20,557 |
1,900,588 |
530,440 |
83,237 |
||||||||||||||||||
|
Amortization of intangible assets resulting |
1,886 |
9,670 |
1,517 |
2,441 |
40,493 |
6,354 |
||||||||||||||||||
|
Tax effects on non-GAAP adjustments |
(46) |
(2,102) |
(330) |
(185) |
(6,749) |
(1,059) |
||||||||||||||||||
|
Accretion to preferred shares |
65,304 |
– |
– |
242,209 |
– |
– |
||||||||||||||||||
|
Deemed dividends to preferred |
– |
– |
– |
1,054,220 |
– |
– |
||||||||||||||||||
|
Non-GAAP net income (loss) |
(284,992) |
(334,629) |
(52,512) |
(784,963) |
(976,550) |
(153,242) |
||||||||||||||||||
|
Shares used in calculating earnings per |
||||||||||||||||||||||||
|
Weighted average number of Class A and |
||||||||||||||||||||||||
|
—Basic |
1,579,586,407 |
2,527,959,105 |
2,527,959,105 |
833,714,126 |
2,526,833,201 |
2,526,833,201 |
||||||||||||||||||
|
—Diluted |
1,579,586,407 |
2,527,959,105 |
2,527,959,105 |
833,714,126 |
2,526,833,201 |
2,526,833,201 |
||||||||||||||||||
|
Non-GAAP net income (loss) |
||||||||||||||||||||||||
|
Non-GAAP net income (loss) attributable |
(0.18) |
(0.13) |
(0.02) |
(0.94) |
(0.39) |
(0.06) |
||||||||||||||||||
|
Non-GAAP net income (loss) attributable |
(0.18) |
(0.13) |
(0.02) |
(0.94) |
(0.39) |
(0.06) |
||||||||||||||||||
|
Non-GAAP net income (loss) |
||||||||||||||||||||||||
|
Non-GAAP net income (loss) attributable |
(0.72) |
(0.53) |
(0.08) |
(3.77) |
(1.55) |
(0.24) |
||||||||||||||||||
|
Non-GAAP net income (loss) attributable |
(0.72) |
(0.53) |
(0.08) |
(3.77) |
(1.55) |
(0.24) |
||||||||||||||||||
Source: Yatsen Holding Limited