Yatsen Q42024: revenues jump 7.1 percent to RMB1.15 billion
Yatsen has announced its results for the final quarter and full year fiscal 2024. The Chinese cosmetics giant said that revenues increased 7.1 percent to RMB1.15 billion in the three months ended December 31, 2024 bringing FY revenues to RMB3.39 billion, down 0.6 percent on the prior year. The post Yatsen Q42024: revenues jump 7.1 percent to RMB1.15 billion appeared first on Global Cosmetics News.
THE WHAT? Yatsen has announced its results for the final quarter and full year fiscal 2024. The Chinese cosmetics giant said that revenues increased 7.1 percent to RMB1.15 billion in the three months ended December 31, 2024 bringing FY revenues to RMB3.39 billion, down 0.6 percent on the prior year.
THE DETAILS Q4 gross margin increased to 77.8 percent from 73.7 percent for the prior year period and FY gross margin grew to 77.1 percent from 2023’s 73.6 percent. FY net loss decreased by 5.3 percent to RMB710.2 million.
THE WHY? Jinfeng Huang, Founder, Chairman and Chief Executive Officer, reveals, “We are pleased to share our solid performance in the fourth quarter of 2024, despite the continued challenges in the beauty market. We achieved year-over-year growth in total net revenues for the fourth quarter, driven by the recovery of Perfect Diary as well as the combined growth of our three major skin care brands. In terms of profitability, we also made solid progress, narrowing our net loss margin while delivering non-GAAP net income for the quarter.
“This performance reflects the success of our strategic initiatives in product development, brand building, and cost optimization. As we move forward, we will remain committed to our strategic transformation plan and are confident in our ability to navigate the evolving market dynamics and drive sustainable growth.”
The post Yatsen Q42024: revenues jump 7.1 percent to RMB1.15 billion appeared first on Global Cosmetics News.
