THE WHAT? Yatsen has introduced its unaudited monetary outcomes for the fourth quarter and full 12 months ended December 31, 2023. The fourth quarter noticed the corporate return to development with income up 6.7 % yoy to RMB1.07 billion, though income for the total 12 months was down 7.9 %.
THE DETAILS Gross revenue was additionally up within the closing three months of the 12 months, rising 10.6 % to RMB790.1 million. Gross margin improved to 73.7 % from 71.1 % a 12 months in the past, pushed by rising gross sales of higher-gross margin merchandise and extra disciplined pricing and low cost insurance policies throughout all the firm’s model portfolio.
THE WHY? Jinfeng Huang, Founder, Chairman and Chief Govt Officer of Yatsen, acknowledged, “We had been happy to return to a development trajectory within the fourth quarter of 2023 as we made additional progress on our strategic transformation plan. Pushed by stable performances from Galénic, Dr Wu and Eve Lom, revenues from our Skincare Manufacturers elevated by 17.6 % and 11.4 % 12 months over 12 months for the fourth quarter and the total 12 months of 2023, respectively. Excellent Diary’s model repositioning additionally continued to achieve traction. Propelled by the success of the model’s new hero product, Biolip Essence Lipstick, Excellent Diary rose to second place within the lipstick class by way of retail gross sales worth on Tmall and Douyin mixed for December 2023. Wanting forward, we are going to stay targeted on pursuing sustainable development with ongoing innovation throughout our manufacturers.”
