THE WHAT? Yatsen has introduced its outcomes for the ultimate quarter and full 12 months fiscal 2024. The Chinese language cosmetics big mentioned that revenues elevated 7.1 p.c to RMB1.15 billion within the three months ended December 31, 2024 bringing FY revenues to RMB3.39 billion, down 0.6 p.c on the prior 12 months.
THE DETAILS This autumn gross margin elevated to 77.8 p.c from 73.7 p.c for the prior 12 months interval and FY gross margin grew to 77.1 p.c from 2023’s 73.6 p.c. FY internet loss decreased by 5.3 p.c to RMB710.2 million.
THE WHY? Jinfeng Huang, Founder, Chairman and Chief Govt Officer, reveals, “We’re happy to share our stable efficiency within the fourth quarter of 2024, regardless of the continued challenges within the magnificence market. We achieved year-over-year progress in whole internet revenues for the fourth quarter, pushed by the restoration of Excellent Diary in addition to the mixed progress of our three main skincare manufacturers. By way of profitability, we additionally made stable progress, narrowing our internet loss margin whereas delivering non-GAAP internet earnings for the quarter.
“This efficiency displays the success of our strategic initiatives in product growth, model constructing, and value optimization. As we transfer ahead, we are going to stay dedicated to our strategic transformation plan and are assured in our potential to navigate the evolving market dynamics and drive sustainable progress.”
