Yatsen Holding Limited (YSG)

Yatsen Holding Income Statement

Financials in millions CNY. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	3,746	3,393	3,415	3,706	5,840	5,233
Revenue Growth (YoY)	11.53%	-0.63%	-7.86%	-36.54%	11.59%	72.65%
Cost of Revenue	829.47	776.24	901.46	1,187	1,941	1,869
Gross Profit	2,916	2,617	2,513	2,519	3,899	3,364
Selling, General & Admin	3,024	2,930	2,961	3,248	5,381	5,980
Research & Development	110.44	109.29	111.7	126.88	142.09	66.51
Operating Expenses	3,135	3,039	3,073	3,375	5,523	6,047
Operating Income	-218.45	-421.82	-559.32	-856.27	-1,624	-2,683
Interest & Investment Income	50.77	86.14	89.02	34.66	45.66	14.31
Earnings From Equity Investments	-11.23	1.39	10.12	12.55	5.98	-0.29
Currency Exchange Gain (Loss)	6.87	-20.4	7.22	-35.36	-1.75	-2.77
Other Non Operating Income (Expenses)	46.6	44.46	53.56	103.5	27.78	-10.02
EBT Excluding Unusual Items	-125.44	-310.23	-399.4	-740.92	-1,547	-2,681
Merger & Restructuring Charges	-	-	-	-72.63	-	-
Impairment of Goodwill	-403.08	-403.08	-354.04	-	-	-
Gain (Loss) on Sale of Investments	-	-	-	-5.08	-1.38	-
Pretax Income	-528.52	-713.31	-753.44	-818.63	-1,548	-2,681
Income Tax Expense	-3.58	-3.09	-3.21	2.71	-0.92	6.97
Earnings From Continuing Operations	-524.94	-710.22	-750.23	-821.33	-1,547	-2,688
Minority Interest in Earnings	-3.34	2.05	2.46	5.96	6.3	0.61
Net Income	-528.27	-708.17	-747.76	-815.37	-1,541	-2,688
Preferred Dividends & Other Adjustments	-	-	-	-	-	1,296
Net Income to Common	-528.27	-708.17	-747.76	-815.37	-1,541	-3,984
Shares Outstanding (Basic)	95	101	110	119	126	42
Shares Outstanding (Diluted)	95	101	110	119	126	42
Shares Change (YoY)	-10.53%	-7.78%	-7.46%	-6.10%	203.08%	85.06%
EPS (Basic)	-5.55	-6.99	-6.81	-6.87	-12.19	-95.58
EPS (Diluted)	-5.55	-7.00	-6.81	-6.87	-12.20	-95.60
Free Cash Flow	-	-296.41	-151.09	85.43	-1,162	-1,209
Free Cash Flow Per Share	-	-2.93	-1.38	0.72	-9.20	-29.00
Gross Margin	77.86%	77.13%	73.60%	67.96%	66.76%	64.28%
Operating Margin	-5.83%	-12.43%	-16.38%	-23.10%	-27.81%	-51.26%
Profit Margin	-14.10%	-20.87%	-21.90%	-22.00%	-26.38%	-76.13%
Free Cash Flow Margin	-	-8.73%	-4.42%	2.31%	-19.89%	-23.10%
EBITDA	-49.89	-271.19	-444.56	-685.37	-1,443	-2,605
EBITDA Margin	-1.33%	-7.99%	-13.02%	-18.49%	-24.71%	-49.77%
D&A For EBITDA	168.56	150.63	114.76	170.9	181.37	78.03
EBIT	-218.45	-421.82	-559.32	-856.27	-1,624	-2,683
EBIT Margin	-5.83%	-12.43%	-16.38%	-23.10%	-27.81%	-51.26%

Updated Aug 21, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q