Yatsen Holding Files Annual Report for FY 2025
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 hour ago
0mins
Should l Buy YSG?
Source: Newsfilter
- Annual Report Filing: Yatsen Holding Limited filed its annual report for the fiscal year ending December 31, 2025, with the SEC on April 29, 2026, reflecting the company's ongoing commitment to transparency and compliance.
- Report Access: The annual report will be available on the company's investor relations website, and hard copies will be provided free of charge to shareholders and ADS holders, demonstrating a strong focus on investor service.
- Brand Diversity: Founded in 2016, Yatsen has launched and acquired several color cosmetics and skincare brands, including Perfect Diary and DR.WU, aiming to capture a wide range of consumer demographics from mass to prestige markets, enhancing its competitive edge.
- Innovation Focus: The company emphasizes synergy through strong R&D and consumer insights to drive brand and product development, further solidifying its leading position in the global beauty industry.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy YSG?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on YSG
About YSG
Yatsen Holding Ltd is a holding company primarily engaged in the development, manufacturing and sales of beauty products. The Company operates three segments. The Color Cosmetics Brands segment is primarily engaged in the provision of color cosmetics including lip, eye and face products through the brands such as Perfect Diary, Little Ondine and Pink Bear. The Skincare Brands segment is primarily engaged in the provision of skincare products including face serums, face creams, makeup removers, masks, toners, eye creams and cleansers through the brands such as Galenic, DR.WU, Eve Lom and EANTiM. The Others segment is primarily engaged in the provision of products such as beauty tools and kits, sun screen and beauty devices.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
- Annual Report Filing: Yatsen Holding Limited filed its annual report for the fiscal year ending December 31, 2025, with the SEC on April 29, 2026, reflecting the company's ongoing commitment to transparency and compliance.
- Report Access: The annual report will be available on the company's investor relations website, and hard copies will be provided free of charge to shareholders and ADS holders, demonstrating a strong focus on investor service.
- Brand Diversity: Founded in 2016, Yatsen has launched and acquired several color cosmetics and skincare brands, including Perfect Diary and DR.WU, aiming to capture a wide range of consumer demographics from mass to prestige markets, enhancing its competitive edge.
- Innovation Focus: The company emphasizes synergy through strong R&D and consumer insights to drive brand and product development, further solidifying its leading position in the global beauty industry.
See More
- Annual Report Submission: Yatsen Holding Limited filed its annual report for the fiscal year ending December 31, 2025, with the SEC on April 29, 2026, demonstrating the company's ongoing commitment to transparency and compliance.
- Report Access: The annual report is available on the company's investor relations website and the SEC's site, and hard copies will be provided free of charge to shareholders and ADS holders upon written request, reflecting the company's focus on investor relations.
- Company Background: Founded in 2016, Yatsen aims to be a world-class pioneer in beauty innovation, with a portfolio of color cosmetics and skincare brands, including Perfect Diary and DR.WU, catering to a wide range of consumer demographics from mass to prestige markets.
- Strategic Positioning: Yatsen leverages brand equity, product strength, and operational agility to achieve synergy, emphasizing the importance of R&D and consumer insights to adapt to rapidly changing market demands.
See More
- Strategic Investment Agreement: Yatsen Holding has secured approximately $120 million in RMB-denominated convertible senior notes through a definitive agreement with Trustar Capital and founder Jinfeng Huang, indicating strong growth potential in the beauty industry.
- Clear Use of Funds: The financing will be allocated for research and development, supply chain integration, overseas expansion, and strategic mergers, aimed at supporting the company's sustained growth and enhancing its competitive position in the market.
- Favorable Note Terms: The first tranche of notes is expected to be issued in March 2026 with an interest rate of 1.5% per annum, convertible into Class A shares after 364 days at a conversion price of $4.63, representing a 20% premium over the average price prior to the agreement.
- Support from Trustar Capital: Trustar Capital will leverage its network to help Yatsen enhance its position in the beauty industry and support its global expansion through expertise in acquisitions and integrations, further solidifying the strategic alliance between the two parties.
See More
- Significant Financing: Yatsen has entered into an agreement with Trustar Capital to issue convertible senior notes totaling approximately $120 million, divided into two tranches, demonstrating the company's strong appeal and capability in capital markets.
- Clear Strategic Use: The proceeds from this financing will be allocated to future product R&D, global supply chain integration, and overseas market expansion, indicating Yatsen's commitment to driving business growth through diversified investments and enhancing market competitiveness.
- Increased Management Confidence: Founder and CEO Jinfeng Huang's personal investment underscores his strong confidence in the company's long-term prospects, which is expected to further enhance investor trust and support for Yatsen.
- Deepened Partnership: Trustar Capital will leverage its extensive network to assist Yatsen in capturing strategic synergies within the beauty industry, facilitating its global expansion through cross-border M&A and solidifying its position in the global beauty market.
See More
- Investment Agreement Signed: Yatsen has entered into a definitive agreement with Trustar Capital and founder Jinfeng Huang to issue approximately $120 million in convertible senior notes in two tranches, reflecting strong confidence in the company's long-term prospects.
- Clear Use of Proceeds: The funds will be allocated for future product R&D, global supply chain integration, and overseas market expansion, aimed at driving business growth and enhancing market competitiveness.
- Strategic Partnership Deepened: Trustar Capital will leverage its extensive network to assist Yatsen in capturing strategic synergies within the beauty industry, facilitating global expansion and cross-border M&A to solidify its market position.
- Favorable Note Terms: The notes carry an interest rate of 1.5% per annum and can be converted into the company's ordinary shares after 364 days, with a conversion price of $4.63 per share, reflecting a 20% premium, enhancing potential returns for investors.
See More
- Earnings Decline: Yatsen Holding Ltd reported adjusted earnings of 7 cents per share for Q4, down from 14 cents in the previous year, indicating a significant decline in profitability that could undermine investor confidence.
- Sales Growth: Despite the drop in earnings, Yatsen's sales increased from $157.347 million to $197.258 million, suggesting that the company still has growth potential in market demand, which may lay the groundwork for future recovery.
- Stock Price Volatility: Yatsen's shares fell 10.1% to $4.00 in pre-market trading, reflecting a negative market reaction to its earnings report, which could lead to increased selling pressure from investors in the short term.
- Market Trends: U.S. stock futures were generally lower, with Dow futures falling around 1%, indicating a broader market sentiment that may have a ripple effect on Yatsen and other stocks' performance.
See More









