Conference Call to Be Held at 7:30
A.M. U.S. Eastern Time on November
22, 2022
GUANGZHOU, China, Nov. 22,
2022 /PRNewswire/ -- Yatsen Holding Limited
("Yatsen" or the "Company") (NYSE: YSG), a leading Chinese beauty
company, today announced its unaudited financial results for the
third quarter ended September 30,
2022.
Third Quarter 2022 Highlights
- Total net revenues for the third quarter of 2022
decreased by 36.1% to RMB857.9
million (US$120.6 million)
from RMB1.34 billion in the prior
year period.
- Total net revenues from Skincare
Brands[1] for the third quarter of 2022
increased by 33.0% to RMB269.4
million (US$37.9 million) from
RMB202.5 million in the prior year
period. As a percentage of total net revenues, total net revenues
from Skincare Brands for the third quarter of 2022 increased to
31.4% from 15.1% in the prior year period.
- Gross margin for the third quarter of 2022 was 68.9%,
compared with 67.9% in the prior year period.
- Net loss for the third quarter of 2022 decreased by
41.7% to RMB210.7 million
(US$29.6 million) from RMB361.8 million in the prior year period.
Non-GAAP net loss[2] for the third
quarter of 2022 decreased by 41.5% to RMB126.5 million (US$17.8
million) from RMB216.3 million
in the prior year period.
Mr. Jinfeng Huang, Founder,
Chairman and Chief Executive Officer of Yatsen, stated "We started
the year with a new five-year strategic development plan to drive
our long-term and sustainable growth. In the third quarter of 2022,
we remained focused on building our brands, elevating operational
efficiency, and investing in R&D. Our Skincare Brands recorded
solid growth in the third quarter of 2022, amid the softening
beauty market and resurgence of COVID-19. We have also seen
significant improvements in narrowing net loss and non-GAAP net
loss as we continued to implement our cost optimization plan."
"Our third quarter results illustrate Yatsen's growth potential
and the resilience of our business model. We have taken steps to
optimize the revenue mix and embed structural efficiency into our
operations, enhancing our ability to deliver on our strategic
targets. As a result, we have seen continued sequential
improvements. The total net revenues contributed by our Skincare
Brands has exceeded 30% of our total net revenues for two
consecutive quarters. Gross margin increased to 68.9%, driven by
increasing sales of higher-gross margin products from our Skincare
Brands, cost optimization and stricter pricing and discount
policies across all our brand portfolios. We also managed to narrow
net loss margin to 24.6% and non-GAAP net loss margin to 14.7% in
the third quarter of 2022. With a cash, restricted cash and
short-term investments balance of RMB2.60
billion at the end of this quarter, we have sufficient
resources and flexibility in pursuit of our long-term strategic
goals," commented Mr. Donghao Yang,
Director and Chief Financial Officer of Yatsen.
Third Quarter 2022 Financial Results
Net Revenues
Total net revenues for the third quarter of 2022 decreased by
36.1% to RMB857.9 million
(US$120.6 million) from RMB1.34 billion in the prior year period. The
decrease was primarily attributable to a 48.8% decrease in net
revenues from our Color Cosmetics Brands[3],
partially offset by a 33.0% increase in net revenues from our
Skincare Brands.
Gross Profit and Gross Margin
Gross profit for the third quarter of 2022 decreased by 35.2% to
RMB591.3 million (US$83.1 million) from RMB911.8 million in the prior year period. Gross
margin for the third quarter of 2022 increased to 68.9% from 67.9%
in the prior year period. The increase was driven by (i) increasing
sales of higher-gross margin products from our Skincare Brands,
(ii) cost optimization and (iii) stricter pricing and discount
policies across all our brand portfolios.
Operating Expenses
Total operating expenses for the third quarter of 2022 decreased
by 33.1% to RMB857.0 million
(US$120.5 million) from RMB1.28 billion in the prior year period. As a
percentage of total net revenues, total operating expenses for the
third quarter of 2022 were 99.9%, as compared with 95.4% in the
prior year period.
- Fulfillment Expenses. Fulfillment expenses for
the third quarter of 2022 were RMB63.8
million (US$9.0 million), as
compared with RMB100.2 million in the
prior year period. As a percentage of total net revenues,
fulfillment expenses for the third quarter of 2022 decreased to
7.4% from 7.5% in the prior year period. The decrease was primarily
attributable to a decrease in warehouse and logistics cost due to
optimization of our fulfillment capacity.
- Selling and Marketing Expenses. Selling and
marketing expenses for the third quarter of 2022 were RMB564.8 million (US$79.4
million), as compared with RMB911.3
million in the prior year period. As a percentage of total
net revenues, selling and marketing expenses for the third quarter
of 2022 decreased to 65.8% from 67.9% in the prior year period. The
decrease was primarily attributable to the higher efficiency of
online marketing activities, partially offset by store
closure-related expenses and provision.
- General and Administrative Expenses. General and
administrative expenses for the third quarter of 2022 were
RMB194.5 million (US$27.3 million), as compared with RMB233.9 million in the prior year period. As a
percentage of total net revenues, general and administrative
expenses for the third quarter of 2022 increased to 22.7% from
17.4% in the prior year period. The increase was primarily
attributable to the lower total net revenues in the third quarter
of 2022, creating a low-base effect.
- Research and Development Expenses.
Research and development expenses for the third quarter of 2022
were RMB33.9 million (US$4.8 million), as compared with RMB35.8 million in the prior year period. As a
percentage of total net revenues, research and development expenses
for the third quarter of 2022 increased to 3.9% from 2.7% in the
prior year period. The increase was primarily attributable to the
lower total net revenues in the third quarter of 2022, creating a
low-base effect.
Loss from Operations
Loss from operations for the third quarter of 2022 decreased by
28.1% to RMB265.7 million
(US$37.4 million) from RMB369.3 million in the prior year period.
Operating loss margin was 31.0%, as compared with 27.5% in the
prior year period.
Non-GAAP loss from operations[4] for the
third quarter of 2022 decreased by 26.6% to RMB162.6 million (US$22.9
million) from RMB221.7 million
in the prior year period. Non-GAAP operating loss margin was 19.0%,
as compared with 16.5% in the prior year period.
Net Loss
Net loss for the third quarter of 2022 decreased by 41.7% to
RMB210.7 million (US$29.6 million) from RMB361.8 million in the prior year period. Net
loss margin was 24.6%, as compared with 26.9% in the prior year
period. Net loss attributable to Yatsen's ordinary shareholders per
diluted ADS[5] for the third quarter of
2022 was RMB0.37 (US$0.05), as compared with RMB0.57 in the prior year period.
Non-GAAP net loss for the third quarter of 2022 decreased by
41.5% to RMB126.5 million
(US$17.8 million) from RMB216.3 million in the prior year period.
Non-GAAP net loss margin was 14.7%, as compared with 16.1% in the
prior year period. Non-GAAP net loss attributable to Yatsen's
ordinary shareholders per diluted
ADS[6] for the third quarter of 2022 was
RMB0.22 (US$0.03), as compared with RMB0.34 in the prior year period.
Balance Sheet and Cash Flow
As of September 30, 2022, the
Company had cash, restricted cash and short-term investments of
RMB2.60 billion (US$365.7 million), as compared with RMB3.14 billion as of December 31, 2021.
Net cash generated from operating activities for the third
quarter of 2022 was RMB21.8 million
(US$3.1 million), compared with net
cash used in operating activities of RMB225.3 million in the prior year period.
Business Outlook
For the fourth quarter of 2022, the Company expects its total
net revenues to be between RMB916.7
million and RMB1.07 billion,
representing a year-over-year decline of approximately 30% to 40%.
These forecasts reflect the Company's current and preliminary views
on the market and operational conditions, which are subject to
change.
Exchange Rate
This announcement contains translations of certain Renminbi
("RMB") amounts into U.S. dollars ("US$") 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 RMB7.1135 to US$1.00, the exchange rate in effect as of
September 30, 2022, as set forth in
the H.10 statistical release of The Board of Governors of the
Federal Reserve System. The Company makes no representation that
any RMB or US$ 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, (iii) revaluation of investments on the
share of equity method investments, and (iv) 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 the
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, (iii) revaluation of investments on the
share of equity method investments, and (iv) tax effects on
non-GAAP adjustments.
|
Conference Call Information
The Company's management will hold a conference call on
Tuesday, November 22, 2022, at
7:30 A.M. U.S. Eastern Time or
8:30 P.M. Beijing Time to discuss its
financial results and operating performance for the third 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:
|
4864716
|
The replay will be accessible through November 29, 2022, by dialing the following
numbers:
United States:
|
+1-877-344-7529
|
International:
|
+1-412-317-0088
|
Replay Access
Code:
|
4864716
|
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, (iii) revaluation of investments on the share of
equity method investments, and (iv) 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) revaluation
of investments on the share of equity method investments and (iv)
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 globally and 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,
|
|
|
September
30,
|
|
|
September
30,
|
|
|
|
2021
|
|
|
2022
|
|
|
2022
|
|
|
|
RMB'000
|
|
|
RMB'000
|
|
|
USD'000
|
|
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
|
3,138,008
|
|
|
|
1,462,056
|
|
|
|
205,533
|
|
Short-term
investment
|
|
|
-
|
|
|
|
1,096,498
|
|
|
|
154,143
|
|
Accounts
receivable
|
|
|
355,837
|
|
|
|
214,289
|
|
|
|
30,124
|
|
Inventories,
net
|
|
|
695,761
|
|
|
|
488,265
|
|
|
|
68,639
|
|
Prepayments and other
current assets
|
|
|
366,191
|
|
|
|
309,134
|
|
|
|
43,457
|
|
Amounts due from
related parties
|
|
|
60
|
|
|
|
60
|
|
|
|
8
|
|
Total current
assets
|
|
|
4,555,857
|
|
|
|
3,570,302
|
|
|
|
501,904
|
|
Non-current
assets
|
|
|
|
|
|
|
|
|
|
|
|
|
Restricted
cash
|
|
|
-
|
|
|
|
42,681
|
|
|
|
6,000
|
|
Investments
|
|
|
350,380
|
|
|
|
508,328
|
|
|
|
71,460
|
|
Property and
equipment, net
|
|
|
245,314
|
|
|
|
91,313
|
|
|
|
12,837
|
|
Goodwill
|
|
|
869,421
|
|
|
|
820,292
|
|
|
|
115,315
|
|
Intangible assets,
net
|
|
|
745,851
|
|
|
|
670,033
|
|
|
|
94,192
|
|
Deferred tax
assets
|
|
|
2,000
|
|
|
|
1,847
|
|
|
|
260
|
|
Right-of-use assets,
net
|
|
|
422,966
|
|
|
|
148,551
|
|
|
|
20,883
|
|
Other non-current
assets
|
|
|
80,220
|
|
|
|
59,183
|
|
|
|
8,320
|
|
Total non-current
assets
|
|
|
2,716,152
|
|
|
|
2,342,228
|
|
|
|
329,267
|
|
Total
assets
|
|
|
7,272,009
|
|
|
|
5,912,530
|
|
|
|
831,171
|
|
Liabilities,
redeemable non-controlling interests and
shareholders'
equity
(deficit)
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts
payable
|
|
|
240,815
|
|
|
|
157,296
|
|
|
|
22,112
|
|
Advances from
customers
|
|
|
20,680
|
|
|
|
19,501
|
|
|
|
2,741
|
|
Accrued expenses and
other liabilities
|
|
|
370,531
|
|
|
|
325,164
|
|
|
|
45,711
|
|
Amounts due to related
parties
|
|
|
13,967
|
|
|
|
31,635
|
|
|
|
4,447
|
|
Income tax
payables
|
|
|
16,747
|
|
|
|
22,116
|
|
|
|
3,109
|
|
Lease liabilities due
within one year
|
|
|
214,843
|
|
|
|
97,801
|
|
|
|
13,749
|
|
Total current
liabilities
|
|
|
877,583
|
|
|
|
653,513
|
|
|
|
91,869
|
|
Non-current
liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred tax
liabilities
|
|
|
124,450
|
|
|
|
110,036
|
|
|
|
15,469
|
|
Deferred income-non
current
|
|
|
56,180
|
|
|
|
50,703
|
|
|
|
7,128
|
|
Lease
liabilities
|
|
|
206,303
|
|
|
|
52,073
|
|
|
|
7,320
|
|
Total non-current
liabilities
|
|
|
386,933
|
|
|
|
212,812
|
|
|
|
29,917
|
|
Total
liabilities
|
|
|
1,264,516
|
|
|
|
866,325
|
|
|
|
121,786
|
|
Redeemable
non-controlling interests
|
|
|
338,587
|
|
|
|
339,924
|
|
|
|
47,786
|
|
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 September 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; 1,569,811,092 Class
A
ordinary shares and 666,572,880 Class B ordinary shares
outstanding
as of and September 30, 2022)
|
|
|
173
|
|
|
|
173
|
|
|
|
24
|
|
Treasury
shares
|
|
|
(22,330)
|
|
|
|
(668,916)
|
|
|
|
(94,035)
|
|
Additional paid-in
capital
|
|
|
11,697,942
|
|
|
|
11,962,077
|
|
|
|
1,681,602
|
|
Statutory
reserve
|
|
|
21,352
|
|
|
|
21,352
|
|
|
|
3,002
|
|
Accumulated
deficit
|
|
|
(5,782,169)
|
|
|
|
(6,545,292)
|
|
|
|
(920,123)
|
|
Accumulated other
comprehensive income (loss)
|
|
|
(255,780)
|
|
|
|
(68,978)
|
|
|
|
(9,695)
|
|
Total Yatsen Holding
Limited shareholders' (deficit) equity
|
|
|
5,659,188
|
|
|
|
4,700,416
|
|
|
|
660,775
|
|
Non-controlling
interests
|
|
|
9,718
|
|
|
|
5,865
|
|
|
|
824
|
|
Total shareholders'
(deficit) equity
|
|
|
5,668,906
|
|
|
|
4,706,281
|
|
|
|
661,599
|
|
Total liabilities,
redeemable non-controlling interests and
shareholders' equity (deficit)
|
|
|
7,272,009
|
|
|
|
5,912,530
|
|
|
|
831,171
|
|
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 September 30,
|
|
|
|
2021
|
|
|
2022
|
|
|
2022
|
|
|
|
RMB'000
|
|
|
RMB'000
|
|
|
USD'000
|
|
Total net
revenues
|
|
|
1,342,604
|
|
|
|
857,904
|
|
|
|
120,602
|
|
Total cost of
revenues
|
|
|
(430,757)
|
|
|
|
(266,626)
|
|
|
|
(37,482)
|
|
Gross
profit
|
|
|
911,847
|
|
|
|
591,278
|
|
|
|
83,120
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
Fulfilment
expenses
|
|
|
(100,174)
|
|
|
|
(63,757)
|
|
|
|
(8,963)
|
|
Selling and marketing
expenses
|
|
|
(911,297)
|
|
|
|
(564,815)
|
|
|
|
(79,400)
|
|
General and
administrative expenses
|
|
|
(233,874)
|
|
|
|
(194,541)
|
|
|
|
(27,348)
|
|
Research and
development expenses
|
|
|
(35,816)
|
|
|
|
(33,881)
|
|
|
|
(4,763)
|
|
Total operating
expenses
|
|
|
(1,281,161)
|
|
|
|
(856,994)
|
|
|
|
(120,474)
|
|
Loss from
operations
|
|
|
(369,314)
|
|
|
|
(265,716)
|
|
|
|
(37,354)
|
|
Financial
income
|
|
|
9,390
|
|
|
|
10,834
|
|
|
|
1,523
|
|
Foreign currency
exchange losses
|
|
|
(2,854)
|
|
|
|
(19,309)
|
|
|
|
(2,714)
|
|
Income from equity
method investments, net
|
|
|
103
|
|
|
|
16,919
|
|
|
|
2,378
|
|
Other (expense)
income, net (1)
|
|
|
(1,067)
|
|
|
|
50,198
|
|
|
|
7,057
|
|
Loss before income
tax expenses
|
|
|
(363,742)
|
|
|
|
(207,074)
|
|
|
|
(29,110)
|
|
Income tax benefit
(expenses)
|
|
|
1,986
|
|
|
|
(3,656)
|
|
|
|
(514)
|
|
Net
loss
|
|
|
(361,756)
|
|
|
|
(210,730)
|
|
|
|
(29,624)
|
|
Net
loss attributable to non-controlling interests and redeemable
non-
controlling interests
|
|
|
1,477
|
|
|
|
4,452
|
|
|
|
626
|
|
Net loss
attributable to Yatsen's shareholders
|
|
|
(360,279)
|
|
|
|
(206,278)
|
|
|
|
(28,998)
|
|
Shares used in
calculating loss per share (2):
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of Class A and Class B ordinary
shares:
|
|
|
|
|
|
|
|
|
|
|
|
|
-Basic
|
|
|
2,526,453,776
|
|
|
|
2,257,211,263
|
|
|
|
2,257,211,263
|
|
-Diluted
|
|
|
2,526,453,776
|
|
|
|
2,257,211,263
|
|
|
|
2,257,211,263
|
|
Net loss per Class A
and Class B ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
|
-Basic
|
|
|
(0.14)
|
|
|
|
(0.09)
|
|
|
|
(0.01)
|
|
-Diluted
|
|
|
(0.14)
|
|
|
|
(0.09)
|
|
|
|
(0.01)
|
|
Net loss per ADS (4
ordinary shares equal to 1 ADS)
|
|
|
|
|
|
|
|
|
|
|
|
|
-Basic
|
|
|
(0.57)
|
|
|
|
(0.37)
|
|
|
|
(0.05)
|
|
-Diluted
|
|
|
(0.57)
|
|
|
|
(0.37)
|
|
|
|
(0.05)
|
|
|
(1) Other
(expense) income, net include the government subsidies, which
amounted RMB 5.4 million and RMB 46.4 million in the three-month
period ended 30 September, 2021 and 30 September, 2022,
respectively.
|
|
|
For the Three Months
Ended September 30,
|
|
|
|
2021
|
|
|
2022
|
|
|
2022
|
|
Share-based
compensation expenses are included in the operating
expenses as follows:
|
|
RMB'000
|
|
|
RMB'000
|
|
|
USD'000
|
|
Fulfilment
expenses
|
|
|
1,624
|
|
|
|
837
|
|
|
|
118
|
|
Selling and marketing
expenses
|
|
|
25,918
|
|
|
|
14,801
|
|
|
|
2,081
|
|
General and
administrative expenses
|
|
|
100,861
|
|
|
|
68,241
|
|
|
|
9,593
|
|
Research and
development expenses
|
|
|
5,552
|
|
|
|
7,498
|
|
|
|
1,054
|
|
Total
|
|
|
133,955
|
|
|
|
91,377
|
|
|
|
12,846
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2)
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 September 30,
|
|
|
|
2021
|
|
|
2022
|
|
|
2022
|
|
|
|
RMB'000
|
|
|
RMB'000
|
|
|
USD'000
|
|
Loss from
operations
|
|
|
(369,314)
|
|
|
|
(265,716)
|
|
|
|
(37,354)
|
|
Share-based compensation expenses
|
|
|
133,955
|
|
|
|
91,377
|
|
|
|
12,846
|
|
Amortization of intangible assets resulting from assets and
business
acquisitions
|
|
|
13,619
|
|
|
|
11,692
|
|
|
|
1,644
|
|
Non-GAAP loss from
operations
|
|
|
(221,740)
|
|
|
|
(162,647)
|
|
|
|
(22,864)
|
|
Net
loss
|
|
|
(361,756)
|
|
|
|
(210,730)
|
|
|
|
(29,624)
|
|
Share-based compensation expenses
|
|
|
133,955
|
|
|
|
91,377
|
|
|
|
12,846
|
|
Amortization of intangible assets resulting from assets and
business
acquisitions
|
|
|
13,619
|
|
|
|
11,692
|
|
|
|
1,644
|
|
Revaluation of investments on the share of equity method
investments
|
|
|
-
|
|
|
|
(16,836)
|
|
|
|
(2,367)
|
|
Tax
effects on non-GAAP adjustments
|
|
|
(2,137)
|
|
|
|
(2,005)
|
|
|
|
(282)
|
|
Non-GAAP net
loss
|
|
|
(216,319)
|
|
|
|
(126,502)
|
|
|
|
(17,783)
|
|
Net loss
attributable to ordinary shareholders of Yatsen
|
|
|
(360,279)
|
|
|
|
(206,278)
|
|
|
|
(28,998)
|
|
Share-based compensation expenses
|
|
|
133,955
|
|
|
|
91,377
|
|
|
|
12,846
|
|
Amortization of intangible assets resulting from assets and
business
acquisitions
|
|
|
13,349
|
|
|
|
12,107
|
|
|
|
1,702
|
|
Revaluation of investments on the share of equity method
investments
|
|
|
-
|
|
|
|
(16,836)
|
|
|
|
(2,367)
|
|
Tax
effects on non-GAAP adjustments
|
|
|
(2,137)
|
|
|
|
(2,171)
|
|
|
|
(305)
|
|
Non-GAAP net loss
attributable to ordinary shareholders of Yatsen
|
|
|
(215,112)
|
|
|
|
(121,801)
|
|
|
|
(17,122)
|
|
Shares used in
calculating loss per share:
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted
average number of Class A and Class B ordinary shares:
|
|
|
|
|
|
|
|
|
|
|
|
|
-Basic
|
|
|
2,526,453,776
|
|
|
|
2,257,211,263
|
|
|
|
2,257,211,263
|
|
-Diluted
|
|
|
2,526,453,776
|
|
|
|
2,257,211,263
|
|
|
|
2,257,211,263
|
|
Non-GAAP net loss
attributable to ordinary shareholders per Class A
and Class B ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
|
-Basic
|
|
|
(0.09)
|
|
|
|
(0.05)
|
|
|
|
(0.01)
|
|
-Diluted
|
|
|
(0.09)
|
|
|
|
(0.05)
|
|
|
|
(0.01)
|
|
Non-GAAP net loss
attributable to ordinary shareholders per ADS (4
ordinary shares equal to 1 ADS)
|
|
|
|
|
|
|
|
|
|
|
|
|
-Basic
|
|
|
(0.34)
|
|
|
|
(0.22)
|
|
|
|
(0.03)
|
|
-Diluted
|
|
|
(0.34)
|
|
|
|
(0.22)
|
|
|
|
(0.03)
|
|
View original
content:https://www.prnewswire.com/news-releases/yatsen-announces-third-quarter-2022-financial-results-301684913.html
SOURCE Yatsen Holding Limited