Yatsen Holding Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	765.38	817.4	836.89	1,513	3,138
Short-Term Investments	246.01	584.02	1,262	1,135	62.88
Cash & Short-Term Investments	1,011	1,401	2,099	2,648	3,201
Cash Growth	-27.83%	-33.23%	-20.72%	-17.28%	-44.45%
Accounts Receivable	220.98	219.67	201.64	206.44	355.84
Other Receivables	-	107.22	104.39	75.11	95.96
Receivables	220.98	326.89	306.03	281.55	451.8
Inventory	508.73	386.05	352.09	423.29	695.76
Prepaid Expenses	-	159.24	110.71	103.75	130.06
Restricted Cash	42.12	-	21.25	-	-
Other Current Assets	450.97	74.06	62.5	52.17	77.36
Total Current Assets	2,234	2,348	2,952	3,508	4,556
Property, Plant & Equipment	250.93	221.87	179.23	208.62	668.28
Long-Term Investments	653.56	664.58	618.75	502.58	350.38
Goodwill	155.03	155.03	556.57	857.15	869.42
Other Intangible Assets	537.51	559.71	671.4	689.67	745.85
Long-Term Deferred Tax Assets	1.44	1.38	1.38	1.95	2
Other Long-Term Assets	14.33	17.84	18	76.17	68.42
Total Assets	3,847	3,971	5,006	5,863	7,272
Accounts Payable	170.63	100.97	115.12	147.09	254.78
Accrued Expenses	348.7	289.86	330.62	251.03	255.31
Current Portion of Leases	53.44	39.41	45.46	79.59	214.84
Current Income Taxes Payable	13.69	20.09	17.95	21.83	16.75
Current Unearned Revenue	28.82	19.57	41.58	16.65	20.68
Other Current Liabilities	-	170.28	60.6	72.23	115.22
Total Current Liabilities	615.28	640.19	611.33	588.41	877.58
Long-Term Leases	123.16	109.53	67.77	53	206.3
Long-Term Unearned Revenue	-	14.83	30.56	45.28	56.18
Long-Term Deferred Tax Liabilities	107.91	103.31	111.59	113.44	124.45
Total Liabilities	846.34	867.85	821.24	800.13	1,265
Common Stock	0.17	0.17	0.17	0.17	0.17
Additional Paid-In Capital	12,296	12,274	12,260	12,039	11,698
Retained Earnings	-8,110	-8,029	-7,321	-6,576	-5,761
Treasury Stock	-1,251	-1,276	-864.57	-669.15	-22.33
Comprehensive Income & Other	74.76	86.87	60.2	-74.2	-255.78
Total Common Equity	3,011	3,055	4,135	4,719	5,659
Minority Interest	-9.96	47.69	49.74	343.08	348.31
Shareholders' Equity	3,001	3,103	4,185	5,063	6,007
Total Liabilities & Equity	3,847	3,971	5,006	5,863	7,272
Total Debt	176.59	148.94	113.23	132.58	421.15
Net Cash (Debt)	834.8	1,252	1,986	2,515	2,780
Net Cash Growth	-33.35%	-36.93%	-21.04%	-9.52%	-46.90%
Net Cash Per Share	8.96	12.37	18.09	21.20	22.00
Filing Date Shares Outstanding	93.86	91.86	107.24	128.68	127.36
Total Common Shares Outstanding	93.86	91.76	107.71	111.81	126.34
Working Capital	1,619	1,707	2,340	2,920	3,678
Book Value Per Share	32.07	33.30	38.39	42.21	44.79
Tangible Book Value	2,318	2,341	2,907	3,173	4,044
Tangible Book Value Per Share	24.70	25.51	26.99	28.37	32.01
Machinery	-	80.01	63.82	63.25	87.43
Construction In Progress	-	0.01	31.39	1.79	0.06
Leasehold Improvements	-	114.32	131.59	149.47	340.97

Updated Mar 2, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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