Shanghai, China – Yatsen Holding Limited recently held its Q2 2024 Earnings Conference Call, providing insight into the company’s financial performance and future outlook. Key members of Yatsen’s senior management, including Founder, Chairman, and CEO Jinfeng Huang, and CFO Donghao Yang, discussed the company’s position in the cosmetics market and its strategic plans moving forward.

During the conference call, Huang highlighted the challenges faced by China’s beauty industry in the second quarter of 2024, with total retail sales seeing a decline year-over-year. Despite the industry headwinds, Yatsen reported a 7.5% year-over-year decline in total net revenues for the second quarter, in line with revised expectations. The company saw growth in its Color Cosmetics brand net revenues, driven by the success of the Biolip Essence product line.

Yatsen’s CFO, Donghao Yang, delved into the company’s financial performance, discussing key metrics such as gross profit, total operating expenses, and net loss margins for the second quarter of 2024. The company’s focus on channel mix optimization and cost efficiency aims to reduce losses for the remainder of the year while investing in brand building and R&D for sustainable growth.

Looking ahead, Yatsen plans to continue expanding its product offerings and channel mix, with a focus on new product development and optimizing sales channels for improved profitability. The company remains committed to its strategy of driving revenue growth while maintaining a focus on achieving profitability in the competitive beauty market.

In closing, Yatsen emphasized its dedication to innovation and brand building, highlighting recent achievements such as the inauguration of the Yatsen Global Innovation R&D Center in Shanghai. As the company navigates the challenges of the industry, it remains steadfast in its mission to drive sustainable growth and deliver value to shareholders.