Summary by Moomoo AI
Yatsen reported Q3 2024 total net revenues of RMB677.0 million ($96.5M), down 5.7% YoY, while skincare brands revenue grew 3.6% to RMB267.9 million. Gross margin improved to 75.9% from 71.4% in the prior year period, driven by increased sales of higher-margin products. Net loss narrowed to RMB121.1 million from RMB197.9 million YoY.Operating expenses decreased 12.0% YoY to RMB655.2 million, with general and administrative expenses showing significant improvement. The company's three major clinical and premium skincare brands, including Galénic, DR.WU and Eve Lom, delivered solid performance with combined growth of 10.5% YoY, despite challenges in China's beauty industry.For Q4 2024, Yatsen expects total net revenues between RMB1.07 billion and RMB1.18 billion, representing a YoY increase of approximately 0% to 10%. The company maintains focus on enhancing brand equity, optimizing product mix and cost structure to drive sustainable growth.
