Yatsen Announces Second Quarter 2022 Financial Results

Conference Call to Be Held at 7:30 A.M. U.S. Eastern Time on August 25, 2022

GUANGZHOU, China, Aug. 25, 2022 /PRNewswire/ -- Yatsen Holding Limited ("Yatsen" or the "Company") (NYSE: YSG), a leading Chinese beauty company, today announced its unaudited financial results for the second quarter ended June 30, 2022.

Second Quarter 2022 Highlights

  • Total net revenues for the second quarter of 2022 decreased by 37.6% to RMB951.8 million (US$142.1 million) from RMB1.53 billion in the prior year period.
  • Total net revenues from Skincare Brands[1] for the second quarter of 2022 increased by 49.2% to RMB317.8 million from RMB213.0 million in the prior year period. As a percentage of total net revenues, total net revenues from Skincare Brands for the second quarter of 2022 increased to 33.4% from 14.0% in the prior year period.
  • Gross margin for the second quarter of 2022 was 62.9%, compared with 65.7% in the prior year period.
  • Net loss for the second quarter of 2022 decreased by 32.4% to RMB264.3 million (US$39.5 million) from RMB391.2 million in the prior year period. Non-GAAP net loss[2] for the second quarter of 2022 increased by 6.5% to RMB207.5 million (US$31.0 million) from RMB194.9 million in the prior year period.

"The second quarter of 2022 was challenging due to the resurgence of COVID-19 in many regions of China, which dampened consumer beauty spending. While our topline declined by 37.6% year-over-year, our net revenues from Skincare Brands grew by 49.2% to make up one third of Yatsen's total net revenues. In particular, net revenues from our newly acquired clinical and premium skincare brands DR.WU (its mainland China business), Eve Lom and Galénic increased by 112.0% year-over-year in aggregate. Furthermore, thanks to our team's improved working capital practices, we achieved positive cashflow from operations in the second quarter for the first time since our IPO. Looking forward, we will continue executing our strategic development plan while carefully navigating a complex market environment in the second half of the year," stated Mr. Jinfeng Huang, Founder, Chairman and Chief Executive Officer of Yatsen.

"We accelerated the improvement of our revenue mix and cost-cutting in the second quarter, which resulted in a higher revenue contribution from our Skincare Brands and a reduction of our offline retail footprint. Our GAAP and non-GAAP net loss margin of 27.8% and 21.8% respectively were impacted by elevated levels of promotions during the June 18th shopping festival and higher operating cost ratios of our offline stores, as well as loss and provisions related to inventory and store-closures. However, we improved our working capital to generate RMB111.9 million of net cash from operating activities and finished the quarter with RMB3.06 billion in cash, restricted cash and short-term investments, giving us ample flexibility to move forward with our strategic development plan," commented Mr. Donghao Yang, Director and Chief Financial Officer of Yatsen.

Second Quarter 2022 Financial Results

Net Revenues

Total net revenues for the second quarter of 2022 decreased by 37.6% to RMB951.8 million (US$142.1 million) from RMB1.53 billion in the prior year period. The decrease was primarily attributable to a 50.5% decrease in net revenues from our Color Cosmetics Brands[3], partially offset by a 49.2% increase in net revenues from our Skincare Brands.

Gross Profit and Gross Margin

Gross profit for the second quarter of 2022 decreased by 40.3% to RMB598.3 million (US$89.3 million) from RMB1.00 billion in the prior year period. Gross margin for the second quarter of 2022 decreased to 62.9% from 65.7% in the prior year period. The decrease was primarily attributable to the elevated levels of promotions during the June 18th shopping festival and an inventory loss of RMB43.9 million (US$6.6 million).

Operating Expenses

Total operating expenses for the second quarter of 2022 decreased by 38.0% to RMB875.3 million (US$130.7 million) from RMB1.41 billion in the prior year period. As a percentage of total net revenues, total operating expenses for the second quarter of 2022 were 92.0%, as compared with 92.6% in the prior year period.

  • Fulfillment Expenses. Fulfillment expenses for the second quarter of 2022 were RMB69.7 million (US$10.4 million), as compared with RMB118.1 million in the prior year period. As a percentage of total net revenues, fulfillment expenses for the second quarter of 2022 decreased to 7.3% from 7.7% in the prior year period. The decrease was primarily attributable to a reduction in share-based compensation corresponding to a decrease in fulfillment headcount.

  • Selling and Marketing Expenses. Selling and marketing expenses for the second quarter of 2022 were RMB625.7 million (US$93.4 million), as compared with RMB972.5 million in the prior year period. As a percentage of total net revenues, selling and marketing expenses for the second quarter of 2022 increased to 65.7% from 63.8% in the prior year period. The increase was primarily attributable to (i) higher operating cost ratios of our offline stores corresponding to the depressed offline store sales, and (ii) store closure-related expenses and a provision of RMB28.7 million (US$4.3 million) for further store closures in the second half of 2022, partially offset by a reduction of our performance-based and brand marketing spending.

  • General and Administrative Expenses. General and administrative expenses for the second quarter of 2022 were RMB147.8 million (US$22.1 million), as compared with RMB286.4 million in the prior year period. As a percentage of total net revenues, general and administrative expenses for the second quarter of 2022 decreased to 15.5% from 18.8% in the prior year period. The decrease was primarily attributable to a reduction in share-based compensation corresponding to a decrease in general and administrative headcount.

  • Research and Development Expenses. Research and development expenses for the second quarter of 2022 were RMB32.0 million (US$4.8 million), as compared with RMB35.2 million in the prior year period. As a percentage of total net revenues, research and development expenses for the second quarter of 2022 increased to 3.4% from 2.3% in the prior year period. The increase was primarily attributable to the deleveraging effect of lower total net revenues.

Loss from Operations

Loss from operations for the second quarter of 2022 decreased by 32.4% to RMB277.0 million (US$41.3 million) from RMB409.9 million in the prior year period. Operating loss margin was 29.1%, as compared with 26.9% in the prior year period.

Non-GAAP loss from operations[4] for the second quarter of 2022 increased by 3.2% to RMB218.2 million (US$32.6 million) from RMB211.4 million in the prior year period. Non-GAAP operating loss margin was 22.9%, as compared with 13.9% in the prior year period.

Net Loss

Net loss for the second quarter of 2022 decreased by 32.4% to RMB264.3 million (US$39.5 million) from RMB391.2 million in the prior year period. Net loss margin was 27.8%, as compared with 25.7% in the prior year period. Net loss attributable to Yatsen's ordinary shareholders per diluted ADS[5] for the second quarter of 2022 was RMB0.43 (US$0.06), as compared with RMB0.62 in the prior year period.

Non-GAAP net loss for the second quarter of 2022 increased by 6.5% to RMB207.5 million (US$31.0 million) from RMB194.9 million in the prior year period. Non-GAAP net loss margin was 21.8%, as compared with 12.8% in the prior year period. Non-GAAP net loss attributable to Yatsen's ordinary shareholders per diluted ADS[6] for the second quarter of 2022 was RMB0.34 (US$0.05), as compared with RMB0.31 in the prior year period.

Balance Sheet and Cash Flow

As of June 30, 2022, the Company had cash, restricted cash and short-term investments of RMB3.06 billion (US$457.3 million), as compared with RMB3.14 billion as of December 31, 2021.

Net cash generated from operating activities for the second quarter of 2022 increased by 241.6% to RMB111.9 million (US$16.7 million) from net cash used in operating activities of RMB79.0 million in the prior year period.

Business Outlook

For the third quarter of 2022, the Company expects its total net revenues to be between RMB738.4 million and RMB872.7 million, representing a year-over-year decline of approximately 35% to 45%, primarily due to the continued softness in market demand for color cosmetics. These forecasts reflect the Company's current and preliminary views on the market and operational conditions, which are subject to change.

Exchange Rate

This announcement contains translations of certain Renminbi ("RMB") amounts into U.S. dollars ("US$") at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to US$ were made at a rate of RMB6.6981 to US$1.00, the exchange rate in effect as of June 30, 2022, as set forth in the H.10 statistical release of The Board of Governors of the Federal Reserve System. The Company makes no representation that any RMB or US$ amounts could have been, or could be, converted into US$ or RMB, as the case may be, at any particular rate, or at all.

[1] Include net revenues from Abby's Choice, DR. WU (its mainland China business), Galénic, Eve Lom and other skincare brands.
[2] Non-GAAP net loss is a non-GAAP financial measure. Non-GAAP net loss is defined as net loss excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from assets and business acquisitions and (iii) tax effects on non-GAAP adjustments.
[3] Include net revenues from Perfect Diary, Little Ondine, Pink Bear and other color cosmetics brands.
[4] Non-GAAP loss from operations is a non-GAAP financial measure. Non-GAAP loss from operations is defined as loss from operations excluding share-based compensation expenses and amortization of intangible assets resulting from assets and business acquisitions.
[5] ADS refers to American depositary shares, each of which represents four Class A ordinary shares.
[6] Non-GAAP net loss attributable to ordinary shareholders per diluted ADS is a non-GAAP financial measure. Non-GAAP net loss attributable to ordinary shareholders per diluted ADS is defined as non-GAAP net loss attributable to ordinary shareholders divided by the weighted average number of diluted ADS outstanding for computing diluted earnings per ADS. Non-GAAP net loss attributable to ordinary shareholders is defined as net loss attributable to ordinary shareholders excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from assets and business acquisitions and (iii) tax effects on non-GAAP adjustments.

Conference Call Information

The Company's management will hold a conference call on Thursday, August 25, 2022, at 7:30 A.M. U.S. Eastern Time or 7:30 P.M. Beijing Time to discuss its financial results and operating performance for the second quarter 2022.

United States (toll free):

+1-888-346-8982

International:

+1-412-902-4272

Mainland China (toll free):

400-120-1203

Hong Kong (toll free):

800-905-945

Hong Kong:

+852-3018-4992

Conference ID:

2224933

The replay will be accessible through September 1, 2022, by dialing the following numbers:

United States:                  

+1-877-344-7529

International:

+1-412-317-0088

Replay Access Code:

2224933

A live and archived webcast of the conference call will also be available on the Company's investor relations website at http://ir.yatsenglobal.com/.

About Yatsen Holding Limited

Yatsen Holding Limited (NYSE: YSG) is a leading player in China's beauty market with a mission to create an exciting new journey of beauty discovery for consumers in China and around the world. Founded in 2016, the Company has launched and acquired multiple color cosmetics and skincare brands including Perfect Diary, Little Ondine, Abby's Choice, Galénic, DR.WU (its mainland China business), Eve Lom and Pink Bear. The Company's flagship brand, Perfect Diary, is one of the top color cosmetics brands in China in terms of online retail sales value. Leveraging its digitally native direct-to-customer business model, the Company has built core capabilities which enable it to launch and scale multiple brands quickly while offering a wide selection of products to a growing variety of customers. The Company reaches and engages with customers directly both online and offline, with expansive presence across all major e-commerce, social and content platforms in China. 

For more information, please visit http://ir.yatsenglobal.com/.

Use of Non-GAAP Financial Measures

The Company uses non-GAAP income (loss) from operations, non-GAAP net income (loss), non-GAAP net income (loss) attributable to ordinary shareholders and non-GAAP net income (loss) attributable to ordinary shareholders per diluted ADS, each a non-GAAP financial measure, in reviewing and assessing its operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company presents these non-GAAP financial measures because they are used by the management to evaluate operating performance and formulate business plans. Non-GAAP financial measures help identify underlying trends in its business, provide further information about its results of operations, and enhance the overall understanding of its past performance and future prospects. The Company defines non-GAAP income (loss) from operations as income (loss) from operations excluding share-based compensation expenses and amortization of intangible assets resulting from assets and business acquisitions. The Company defines non-GAAP net income (loss) as net income (loss) excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from assets and business acquisitions and (iii) tax effects on non-GAAP adjustments. The Company defines non-GAAP net income (loss) attributable to ordinary shareholders as net income (loss) attributable to ordinary shareholders excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from assets and business acquisitions, (iii) tax effects on non-GAAP adjustments. Non-GAAP net income (loss) attributable to ordinary shareholders per diluted ADS is computed using non-GAAP net income (loss) attributable to ordinary shareholders divided by weighted average number of diluted ADS outstanding for computing diluted earnings per ADS.

However, the non-GAAP financial measures have limitations as analytical tools as the non-GAAP financial measures are not presented in accordance with U.S. GAAP and may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited. The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating performance. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure. Reconciliations of Yatsen's non-GAAP financial measure to the most comparable U.S. GAAP measure are included at the end of this press release.

Safe Harbor Statement

This announcement contains statements that may constitute "forward-looking" statements which are made pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to," and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the Securities and Exchange Commission ("SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company's beliefs, plans, outlook and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, which include but not limited to the following: the Company's growth strategies; its future business development, results of operations and financial condition; its ability to continue to roll out popular products and maintain popularity of existing products; its ability to anticipate and respond to changes in industry trends and consumer preferences and behavior in a timely manner; its ability to attract and retain new customers and to increase revenues generated from repeat customers; its expectations regarding demand for and market acceptance of its products and services; its ability to integrate newly-acquired businesses and brands; trends and competition in and relevant government policies and regulations relating to China's beauty market; changes in its revenues and certain cost or expense items; and general economic conditions in China. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

In China:

Yatsen Holding Limited
Investor Relations
E-mail: ir@yatsenglobal.com 

The Piacente Group, Inc.
Emilie Wu
Tel: +86-21-6039-8363
E-mail: yatsen@thepiacentegroup.com

In the United States:

The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: yatsen@thepiacentegroup.com

 

 

YATSEN HOLDING LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands, except for share, per share data or otherwise noted)




December 31,



June 30,



June 30,




2021



2022



2022




RMB'000



RMB'000



USD'000


Assets













Current assets













Cash and cash equivalents



3,138,008




1,708,485




255,070


Short-term investment



-




1,314,380




196,232


Accounts receivable



355,837




224,820




33,565


Inventories, net



695,761




505,976




75,540


Prepayments and other current assets



366,191




356,945




53,290


Amounts due from related parties



60




60




9


Total current assets



4,555,857




4,110,666




613,706


Non-current assets













Restricted Cash



-




40,189




6,000


Investments



350,380




393,624




58,767


Property and equipment, net



245,314




133,860




19,985


Goodwill



869,421




835,860




124,791


Intangible assets, net



745,851




694,280




103,653


Deferred tax assets



2,000




1,891




282


Right-of-use assets, net



422,966




275,638




41,152


Other non-current assets



80,220




54,781




8,179


Total non-current assets



2,716,152




2,430,123




362,809


Total assets



7,272,009




6,540,789




976,515


Liabilities, redeemable non-controlling interests and shareholders'
equity (deficit)













Current liabilities













Accounts payable



240,815




166,258




24,822


Advances from customers



20,680




19,906




2,972


Accrued expenses and other liabilities



370,531




360,528




53,825


Amounts due to related parties



13,967




28,259




4,219


Income tax payables



16,747




17,496




2,612


Lease liabilities due within one year



214,843




159,796




23,857


Total current liabilities



877,583




752,243




112,307


Non-current liabilities













Deferred tax liabilities



124,450




114,362




17,074


Deferred income-non current



56,180




51,511




7,690


Lease liabilities



206,303




116,366




17,373


Total non-current liabilities



386,933




282,239




42,137


Total liabilities



1,264,516




1,034,482




154,444


Redeemable non-controlling interests



338,587




341,561




50,994


Shareholders' equity (deficit)













Ordinary Shares (US$0.00001 par value; 10,000,000,000 ordinary
shares authorized, comprising of 6,000,000,000 Class A ordinary
shares, 960,852,606 Class B ordinary shares and 3,039,147,394
shares each of such classes to be designated as of December 31, 2021
and June 30, 2022; 1,938,303,919 Class A shares and 758,869,844
Class B ordinary shares issued; 1,789,239,887 Class A ordinary
shares and 737,513,429 Class B ordinary shares outstanding as of and
December 31, 2021;  2,030,600,883 Class A shares and 666,572,880
Class B ordinary shares issued; 1,722,629,448 Class A ordinary
shares and 666,572,880 Class B ordinary shares outstanding as of and
June 30, 2022)



173




173




26


Treasury shares



(22,330)




(211,875)




(31,632)


Additional paid-in capital



11,697,942




11,870,700




1,772,249


Statutory reserve



21,352




21,352




3,188


Accumulated deficit



(5,782,169)




(6,339,014)




(946,390)


Accumulated other comprehensive income (loss)



(255,780)




(185,270)




(27,660)


Total Yatsen Holding Limited shareholders' (deficit) equity



5,659,188




5,156,066




769,781


Non-controlling interests



9,718




8,680




1,296


Total shareholders' (deficit) equity



5,668,906




5,164,746




771,077


Total liabilities, redeemable non-controlling interests and
shareholders' equity (deficit)



7,272,009




6,540,789




976,515


 

 

YATSEN HOLDING LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(All amounts in thousands, except for share, per share data or otherwise noted)




For the Three Months Ended June 30,



For the Six Months Ended June 30,



2021



2022



2022



2021



2022



2022



RMB'000



RMB'000



USD'000



RMB'000



RMB'000



USD'000

Total net revenues



1,525,001




951,770




142,096




2,969,466




1,842,724




275,111

Total cost of revenues



(522,640)




(353,450)




(52,769)




(975,539)




(629,858)




(94,035)

Gross profit



1,002,361




598,320




89,327




1,993,927




1,212,866




181,076

Operating expenses:
























        Fulfilment expenses



(118,072)




(69,743)




(10,412)




(210,790)




(143,606)




(21,440)

        Selling and marketing expenses



(972,506)




(625,695)




(93,414)




(2,014,568)




(1,230,421)




(183,697)

        General and administrative
        expenses



(286,448)




(147,794)




(22,065)




(458,767)




(355,923)




(53,138)

        Research and development
        expenses



(35,216)




(32,045)




(4,784)




(62,956)




(67,855)




(10,130)

Total operating expenses



(1,412,242)




(875,277)




(130,675)




(2,747,081)




(1,797,805)




(268,405)

Income (loss) from operations



(409,881)




(276,957)




(41,348)




(753,154)




(584,939)




(87,329)

        Financial income



11,346




8,263




1,234




25,391




16,366




2,443

        Foreign currency exchange
        income (losses)



(1,479)




(21,796)




(3,254)




(5,075)




(24,428)




(3,647)

        Income (loss) from equity method
        investments, net



(140)




45




7




7,002




(2,285)




(341)

        Impairment loss of investments



-




(662)




(99)




-




(5,078)




(758)

        Other non-operating income
       (expenses)



7,831




27,932




4,170




15,305




45,586




6,806

Income (loss) before income tax
expenses



(392,323)




(263,175)




(39,290)




(710,531)




(554,778)




(82,826)

        Income tax (expense) benefit



1,112




(1,095)




(163)




326




(872)




(130)

Net income (loss)



(391,211)




(264,270)




(39,453)




(710,205)




(555,650)




(82,956)

       Net loss attributable to non-controlling
       interests and redeemable non-
       controlling interests



1,290




(1,660)




(248)




2,946




(1,195)




(178)

Net income (loss) attributable to
Yatsen's shareholders



(389,921)




(265,930)




(39,701)




(707,259)




(556,845)




(83,134)

Shares used in calculating earnings
per share (1):
























      Weighted average number of Class A
      and Class B ordinary shares:
























       —Basic



2,526,453,776




2,475,134,621




2,475,134,621




2,526,453,776




2,500,801,376




2,500,801,376

       —Diluted



2,526,453,776




2,475,134,621




2,475,134,621




2,526,453,776




2,500,801,376




2,500,801,376

Net income (loss) per Class A and
Class B ordinary share
























         Net income (loss) attributable to
         Yatsen's ordinary shareholders



(0.15)




(0.11)




(0.02)




(0.28)




(0.22)




(0.03)

         —Basic
























         Net income (loss) attributable to
         Yatsen's ordinary shareholders
         —Diluted



(0.15)




(0.11)




(0.02)




(0.28)




(0.22)




(0.03)

Net income (loss) per ADS (4
ordinary shares equal to 1 ADS)
























        Net income (loss) attributable to
        Yatsen's ordinary shareholders
        —Basic



(0.62)




(0.43)




(0.06)




(1.12)




(0.89)




(0.13)

       Net income (loss) attributable to
       Yatsen's ordinary shareholders
       —Diluted



(0.62)




(0.43)




(0.06)




(1.12)




(0.89)




(0.13)



















































For the Three Months Ended June 30,



For the Six Months Ended June 30,



2021



2022



2022



2021



2022



2022

Share-based compensation expenses are included in the operating expenses as follows:


RMB'000



RMB'000



USD'000



RMB'000



RMB'000



USD'000

       Fulfilment expenses



8,521




970




145




9,425




2,493




372

       Selling and marketing expenses



22,161




11,363




1,696




34,000




33,718




5,034

       General and administrative expenses



147,498




27,590




4,119




214,117




122,573




18,300

       Research and development expenses



6,440




7,017




1,048




7,944




13,974




2,086

Total



184,620




46,940




7,008




265,486




172,758




25,792

(1)   Authorized share capital is re-classified and re-designated into Class A ordinary shares and Class B ordinary shares, with each Class A ordinary share being entitled to one vote and each Class B ordinary share being entitled to twenty votes on all matters that are subject to shareholder vote.

 

 

 YATSEN HOLDING LIMITED

UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands, except for share, per share data or otherwise noted)




For the Three Months Ended June 30,



For the Six Months Ended June 30,




2021



2022



2022



2021



2022



2022




RMB'000



RMB'000



USD'000



RMB'000



RMB'000



USD'000


        Income (loss) from operations



(409,881)




(276,957)




(41,348)




(753,154)




(584,939)




(87,329)


        Share-based compensation
        expenses



184,620




46,940




7,008




265,486




172,758




25,792


        Amortization of intangible
        assets resulting from assets and
        business acquisitions



13,899




11,862




1,771




18,029




23,945




3,575


Non-GAAP income (loss)
from operations



(211,362)




(218,155)




(32,569)




(469,639)




(388,236)




(57,962)


        Net income (loss)



(391,211)




(264,270)




(39,453)




(710,205)




(555,650)




(82,956)


        Share-based compensation
        expenses



184,620




46,940




7,008




265,486




172,758




25,792


        Amortization of intangible
        assets resulting from assets and
        business acquisitions



13,899




11,862




1,771




18,029




23,945




3,575


        Tax effects on non-GAAP
        adjustments



(2,186)




(2,042)




(305)




(2,510)




(4,126)




(616)


Non-GAAP net income (loss)



(194,878)




(207,510)




(30,979)




(429,200)




(363,073)




(54,205)


        Net income (loss) attributable
        to ordinary shareholders of
        Yatsen



(389,921)




(265,930)




(39,701)




(707,259)




(556,845)




(83,134)


        Share-based compensation
        expenses



184,620




46,940




7,008




265,486




172,758




25,792


        Amortization of intangible
        assets resulting from assets and
        business acquisitions



13,738




10,945




1,634




17,474




22,776




3,400


        Tax effects on non-GAAP
        adjustments



(2,214)




(1,876)




(280)




(2,510)




(3,960)




(591)


Non-GAAP net income (loss)
attributable to ordinary
shareholders of Yatsen



(193,777)




(209,921)




(31,339)




(426,809)




(365,271)




(54,533)


Shares used in calculating
earnings per share:

























      Weighted average number of
      Class A and Class B ordinary

      shares:

























      —Basic



2,526,453,776




2,475,134,621




2,475,134,621




2,526,453,776




2,500,801,376




2,500,801,376


      —Diluted



2,526,453,776




2,475,134,621




2,475,134,621




2,526,453,776




2,500,801,376




2,500,801,376


Non-GAAP net income (loss)
attributable to ordinary
shareholders per Class A and
Class B ordinary share

























      Non-GAAP net income (loss)
      attributable to Yatsen's
      ordinary shareholders
      —Basic



(0.08)




(0.08)




(0.01)




(0.17)




(0.15)




(0.02)


      Non-GAAP net income (loss)
      attributable to Yatsen's
      ordinary shareholders
      —Diluted



(0.08)




(0.08)




(0.01)




(0.17)




(0.15)




(0.02)


Non-GAAP net income (loss)
attributable to ordinary
shareholders per ADS (4
ordinary shares equal to 1
ADS)

























      Non-GAAP net income (loss)
      attributable to Yatsen's
      ordinary shareholders
      —Basic



(0.31)




(0.34)




(0.05)




(0.68)




(0.58)




(0.09)


      Non-GAAP net income (loss)
      attributable to Yatsen's
     ordinary shareholders
      —Diluted



(0.31)




(0.34)




(0.05)




(0.68)




(0.58)




(0.09)


 

 

View original content:https://www.prnewswire.com/news-releases/yatsen-announces-second-quarter-2022-financial-results-301612371.html


Source: Yatsen Holding Limited Related Stocks: NYSE:YSG
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