Yatsen Holding Ltd. reported total net revenues of RMB998.4 million (US$140.2 million) for the third quarter of 2025, a 47.5% increase from RMB677.0 million in the prior year period. Net revenues from Skincare Brands rose by 83.2% to RMB490.8 million (US$68.9 million), representing 49.2% of total net revenues compared to 39.6% in the previous year. Gross margin improved to 78.2% from 75.9%. Net loss narrowed by 41.9% to RMB70.4 million (US$9.9 million), while non-GAAP net loss decreased by 32.8% to RMB51.5 million (US$7.2 million). Cash, restricted cash, and short-term investments stood at RMB1.16 billion (US$162.6 million) as of September 30, 2025. The company expects total net revenues for the fourth quarter of 2025 to be between RMB1.32 billion and RMB1.49 billion, a projected year-over-year increase of approximately 15% to 30%. Major brands launched new products during the quarter, including DR.WU's PDRN Serum and Galénic's No.3 VB Serum.