Yatsen (YSG) Q3 2025 Earnings Call Transcript

Yatsen Group (NYSE: YSG) said its Perfect Diary brand will debut in Sephora China across about 300 Sephora outlets, including major cities. Yatsen reported investing about $100 million (RMB 700 million) in R&D since 2020. The company cited science-led product claims and a Smartlock™ oil-absorption technology developed with SICCAS.

Yatsen Holding reported Q1 2026 results on a conference call. The company said total net revenues rose 22.5% year over year to $1.02 billion, driven by a 58.5% increase from skincare brands, partially offset by a 5% decline in COVID cosmetics. Gross profit rose 24.3% to $819.2 million; gross margin increased to 80.2%. Operating expenses rose 32.5% to $918.1 million, with selling and marketing up to $737.2 million. The company also said it completed a May 21, 2026 closing of a convertible notes/w

Meta Platforms (META) agreed to a $17 billion settlement for teen social media safety concerns, pending court approval. The deal includes fines and platform changes like daily use limits. Analysts expect minimal impact on teen usage and revenue, maintaining a $850 fair value estimate. Meta's AI investments remain a focus for investors.

JPMorgan Chase (JPM) is relaxing its lending rules for shares of newly listed companies like SpaceX (SPCX), allowing loans against them before the usual 135-day waiting period. This move aims to capture wealth from the AI boom. JPMorgan earned $75 million from the SpaceX listing. The bank assesses liquidity and price discovery for lending decisions. Lending against newly listed stocks carries risks, including price volatility and limited trading volumes.

The U.S. Air Force awarded Boeing and RTX a combined $766 million for B-52 bomber modernization contracts. Northrop Grumman received a $216 million contract for deep space radar. The news caused defense and aerospace stocks to rise early Wednesday.

John Deere workers, represented by the UAW, rejected a contract extension proposal. UAW cited concerns over job security and Deere's financial performance, including $5B in 2023 profits and $2.8B in shareholder returns. The current contract remains in effect, with negotiations to resume before 2027.