Yatsen Holding Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	876.14	765.38	817.4	836.89	1,513	3,138
Short-Term Investments	-	295.95	584.02	1,262	1,135	62.88
Cash & Short-Term Investments	876.14	1,061	1,401	2,099	2,648	3,201
Cash Growth	-31.55%	-24.27%	-33.23%	-20.72%	-17.28%	-44.45%
Accounts Receivable	183.75	220.87	219.67	201.64	206.44	355.84
Other Receivables	-	143.14	107.22	104.39	75.11	95.96
Receivables	183.75	381.4	345.49	306.03	281.55	451.8
Inventory	573.34	508.73	386.05	352.09	423.29	695.76
Prepaid Expenses	-	178.56	159.24	110.71	103.75	130.06
Restricted Cash	58.04	42.12	-	21.25	-	-
Other Current Assets	440.1	62.06	55.46	62.5	52.17	77.36
Total Current Assets	2,131	2,234	2,348	2,952	3,508	4,556
Property, Plant & Equipment	230.7	250.93	221.87	179.23	208.62	668.28
Long-Term Investments	668	653.56	664.58	618.75	502.58	350.38
Goodwill	155.03	155.03	155.03	556.57	857.15	869.42
Other Intangible Assets	509.25	537.51	559.71	671.4	689.67	745.85
Long-Term Deferred Tax Assets	1.04	1.44	1.38	1.38	1.95	2
Other Long-Term Assets	22.15	14.33	17.84	18	76.17	68.42
Total Assets	3,718	3,847	3,971	5,006	5,863	7,272

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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
Accounts Payable	174.22	170.63	100.97	115.12	147.09	254.78
Accrued Expenses	322.99	266.75	289.86	330.62	251.03	255.31
Current Portion of Leases	53.04	53.44	39.41	45.46	79.59	214.84
Current Income Taxes Payable	13.78	13.69	20.09	17.95	21.83	16.75
Current Unearned Revenue	29.48	28.82	19.57	41.58	16.65	20.68
Other Current Liabilities	-	81.95	170.28	60.6	72.23	115.22
Total Current Liabilities	593.51	615.28	640.19	611.33	588.41	877.58
Long-Term Leases	110.18	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	106.05	107.91	103.31	111.59	113.44	124.45
Total Liabilities	809.74	846.34	867.85	821.24	800.13	1,265

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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
Common Stock	0.17	0.17	0.17	0.17	0.17	0.17
Additional Paid-In Capital	12,297	12,296	12,274	12,260	12,039	11,698
Retained Earnings	-8,171	-8,110	-8,029	-7,321	-6,576	-5,761
Treasury Stock	-1,253	-1,251	-1,276	-864.57	-669.15	-22.33
Comprehensive Income & Other	45.91	74.76	86.87	60.2	-74.2	-255.78
Total Common Equity	2,919	3,011	3,055	4,135	4,719	5,659
Minority Interest	-11.38	-9.96	47.69	49.74	343.08	348.31
Shareholders' Equity	2,908	3,001	3,103	4,185	5,063	6,007
Total Liabilities & Equity	3,718	3,847	3,971	5,006	5,863	7,272

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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
Total Debt	163.22	176.59	148.94	113.23	132.58	421.15
Net Cash (Debt)	712.92	884.73	1,252	1,986	2,515	2,780
Net Cash Growth	-36.35%	-29.36%	-36.93%	-21.04%	-9.52%	-46.90%
Net Cash Per Share	7.62	9.50	12.37	18.09	21.20	22.00
Filing Date Shares Outstanding	93.81	93.87	91.86	107.24	128.68	127.36
Total Common Shares Outstanding	93.81	93.86	91.76	107.71	111.81	126.34
Working Capital	1,538	1,619	1,707	2,340	2,920	3,678
Book Value Per Share	31.12	32.07	33.30	38.39	42.21	44.79
Tangible Book Value	2,255	2,318	2,341	2,907	3,173	4,044
Tangible Book Value Per Share	24.04	24.70	25.51	26.99	28.37	32.01
Machinery	-	74.42	80.01	63.82	63.25	87.43
Construction In Progress	-	12.25	0.01	31.39	1.79	0.06
Leasehold Improvements	-	93.9	114.32	131.59	149.47	340.97

SEC Filings: 10-K · 10-Q