Overview

* Yatsen Q3 2025 revenue rose 47.5% yr/yr to RMB998.4 mln

* Net loss for Q3 2025 narrowed by 41.9% to RMB70.4 mln

* Gross margin improved to 78.2% from 75.9% yr/yr

Outlook

* Yatsen expects Q4 2025 revenue between RMB1.32 bln and RMB1.49 bln

* Company focuses on brand and product innovation for sustainable growth

* Yatsen ( YSG ) plans to refine cost structure to support future growth

Result Drivers

* SKINCARE REVENUE - Skincare brands revenue increased 83.2% yr/yr, contributing significantly to overall revenue growth

* HIGHER MARGIN PRODUCTS - Gross margin improved due to increased sales of higher-margin products

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 RMB

Revenue 998.40

mln

Q3 -RMB

Adjusted 51.50

Net mln

Income

Q3 Net -RMB

Income 70.40

mln

Q3 Gross 78.2%

Margin

Q3 Gross RMB

Profit 780.50

mln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the personal products peer group is "buy"

* Wall Street's median 12-month price target for Yatsen Holding Ltd ( YSG ) is $11.00, about 37.8% above its November 14 closing price of $6.84

* The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 27 three months ago

Press Release:

For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)