Yatsen Holding Ltd. ADR Class A(YSG.US) reported a revenue of 1.02 billion in the first quarter, with a year-on-year increase in research and development investment of 74.2%.

On May 26, Yatsen Holding Ltd. ADR Class A (YSG.US) released its performance report for the first quarter of 2026. The announcement shows that the company's revenue in the first quarter increased to 1.02 billion yuan, a 22.5% increase compared to the same period last year, significantly exceeding industry levels. This marks the sixth consecutive quarter of year-on-year growth, with a stable growth base. Among them, the three major skincare brands Galnic, DR.WU, and EVE LOM achieved a combined net income growth of 61.4%, leading to a 58.5% year-on-year increase in the skincare business and total revenue of 574 million yuan. The skincare sector accounted for 56.2% of total revenue, synergizing with the makeup business to become the core engine of performance growth. Thanks to the continuous optimization of revenue structure, the company's gross profit increased by 24.3% year-on-year, with a gross profit margin reaching 80.2%, a historic high. Yatsen Holding Ltd. ADR Class A's corporate vision is to become a world-class beauty innovation pioneer, creating a research-driven sustainable development model, insisting on high research and development investment, and enhancing product technology content. The financial report shows that the company's research and development investment in the first quarter of 2026 was 39.44 million yuan, a 74.2% increase compared to the same period last year. Since 2020, the group has accumulated more than 700 million yuan in research and development innovation, maintaining an annual research and development expense rate of over 3% for three consecutive years. In response to this, Huang Jinfeng, founder, chairman, and CEO of Yatsen Holding Ltd. ADR Class A, said, "Our revenue growth is in line with previous expectations, demonstrating the resilience of our multi-brand strategy. The growth this quarter is mainly due to the continuous upward momentum of our skincare brands. Upholding the vision of becoming a world-class beauty innovation pioneer, we will continue to enhance research and development innovation drive, expand our star product series, and promote high-quality growth for our core brands." Recently, the issuance of 120 million US dollars convertible bonds by Yatsen Holding Ltd. ADR Class A was successfully completed, with a further expansion of the subscription lineup. Huang Jinfeng, Xinchun Capital, and Hillhouse Capital jointly added investments, fully demonstrating the firm confidence of leading institutions and founders in the long-term development value and strategic layout of the company. After the successful completion of the first batch of notes, Yatsen Holding Ltd. ADR Class A will be used for product research and development, global supply chain integration, overseas market expansion, strategic acquisitions, and general corporate purposes, further promoting the company's sustainable growth and solidifying core competitiveness.