Yatsen Holding Limited (YSG)

Yatsen Holding Cash Flow Statement

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	-710.22	-750.23	-821.33	-1,547	-2,688
Depreciation & Amortization	220.06	203.41	339.26	427.26	263.87
Stock-Based Compensation	91.17	77.5	340.86	530.44	1,901
Other Adjustments	353.68	300.36	47.37	99.31	42.98
Change in Receivables	-16.32	-4.47	155	99.75	-154.02
Changes in Inventories	-11.17	109.44	278	-109.93	-134.26
Changes in Accounts Payable	-33.6	-14.16	-120.97	-244.44	66.16
Changes in Accrued Expenses	-22.52	65.32	-17.3	-63.68	174.7
Changes in Income Taxes Payable	2.14	-3.88	5.08	-1.44	-55.96
Changes in Unearned Revenue	-22.01	24.93	-4.03	86.04	3.05
Changes in Other Operating Activities	-94.9	-115.67	-65.72	-296.71	-402.08
Operating Cash Flow	-243.67	-107.44	136.21	-1,020	-983.37
Capital Expenditures	-52.74	-43.65	-50.78	-141.43	-225.57
Sale of Property, Plant & Equipment	2.1	1.95	4.1	-	0.47
Purchases of Intangible Assets	-4.28	-0.32	-8.55	-25.3	-159.01
Purchases of Investments	-1,358	-2,463	-2,558	-322.83	-35.55
Proceeds from Sale of Investments	2,005	2,245	1,460	-	10
Payments for Business Acquisitions	-	-	-2.11	-994.7	-99.17
Investing Cash Flow	592.12	-260.49	-1,155	-1,484	-508.83
Short-Term Debt Issued	-	-	-	-	10
Short-Term Debt Repaid	-	-	-	-0.1	-10
Net Short-Term Debt Issued (Repaid)	-	-	-	-0.1	0
Issuance of Common Stock	11.57	4.9	1.91	-	4,380
Repurchase of Common Stock	-405.79	-212.69	-654.65	-15.16	-491.17
Net Common Stock Issued (Repurchased)	-394.23	-207.79	-652.74	-15.16	3,889
Issuance of Preferred Stock	-	-	-	-	3,869
Repurchase of Preferred Stock	-	-	-	-	-1,077
Net Preferred Stock Issued (Repurchased)	-	-	-	-	2,792
Other Financing Activities	-	-134.66	-1.71	13.56	-
Financing Cash Flow	-394.23	-342.46	-654.45	-1.71	6,681
Effect of Exchange Rate Changes on Cash and Cash Equivalents	5.03	14.19	89.98	-88.98	-131.86
Net Cash Flow	-40.74	-696.19	-1,584	-2,595	5,057
Free Cash Flow	-296.41	-151.09	85.43	-1,162	-1,209
FCF Margin	-8.73%	-4.42%	2.31%	-19.90%	-23.10%
Free Cash Flow Per Share	-2.93	-1.38	0.72	-9.20	-29.00
Levered Free Cash Flow	-722.89	-522.02	-451.83	-1,885	-2,998
Unlevered Free Cash Flow	-843.18	-691.5	-562.29	-1,968	-2,986

Updated Mar 2, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

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