Yatsen (YSG) Q2 2026 Earnings Call Transcript
Yatsen (YSG) reported Q2 2026 net revenue of RMB 1.14B, up 5.1% YoY, driven by skincare growth offsetting color cosmetics decline. Gross margin fell to 73.9% from 78.3% due to inventory provisions. Operating loss widened to RMB 131.9M. Q3 revenue guidance is RMB 898.6M-998.4M, a 0-10% YoY decrease. Management highlighted strategic shifts and industry challenges.




