Perfect Diary’s Parent Company, Yatsen Holding, Achieved Profitability in the Last Quarter and Hired Former Vice President of R&D for Estée Lauder Asia Pacific as Chief Scientific Officer

On the morning of March 8th Eastern Time, Yatsen Holding Limited (Yatsen), the parent company of Chinese makeup brand Perfect Diary, which is listed on the New York Stock Exchange (NYSE), released unaudited key financial data for the fourth quarter and full year ending on December 31, 2022.
Although revenue growth in the skincare category did not offset the decline in the makeup category, the company’s net revenue for 2022 was RMB 3.71 billion (approximately USD 537.3 million), a decrease of 36.5% compared to RMB 5.84 billion in 2021. The net loss narrowed to RMB 821.3 million ( …