Yatsen Swings to Q2 Loss, Names Co-CFO, Guides Q3 Revenue Down 0-10%
YSG sits 16% above its 52-week low of $2.15 on light trading volume (0.4× avg).
Summary
Yatsen reported Q2 2026 revenue up 5.1% to RMB1.14 billion but swung to a RMB90.8 million net loss. The company appointed Li Wang as Co-CFO and guided Q3 revenue down 0-10% year-over-year.
Key Events · Earnings and Guidance · YSG
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Q2 Net Loss of RMB90.8M
Net loss widened to RMB90.8 million (US$13.4 million) from RMB19.5 million a year ago, with non-GAAP net loss of RMB99.4 million versus non-GAAP net income of RMB11.5 million in Q2 2025.
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Color Cosmetics Revenue Plunges 35.8%
Color cosmetics revenue fell 35.8% year-over-year, offsetting a 40.4% surge in skincare revenue. Skincare now represents 71.5% of total revenue, up from 53.5% a year ago.
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Gross Margin Declines to 73.9%
Gross margin fell 4.4 percentage points to 73.9%, primarily due to higher inventory provisions in the color cosmetics business from proactive brand portfolio optimization and SKU rationalization.
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Q3 Revenue Guidance Down 0-10%
Company expects Q3 2026 total net revenues between RMB898.6 million and RMB998.4 million, representing a year-over-year decrease of approximately 0% to 10%.
Analysis · YSG · Industrial Applications And Services
Yatsen's Q2 results show a sharp deterioration from profitability to a RMB90.8 million net loss, driven by a 35.8% collapse in color cosmetics revenue and a 4.4 percentage point gross margin decline. The company is responding with a strategic pivot toward skincare, which now represents 71.5% of revenue, and a CFO succession plan. The Q3 guidance of a 0-10% revenue decline signals continued near-term pressure.
How filings like this one have moved
In the 30 days to Sep 10, 2026, 30.2% of the 2009 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.11%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, YSG was trading at $2.50 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $258.1M. The 52-week trading range was $2.15 to $10.70. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.