THE WHAT? Yatsen has introduced its unaudited outcomes for the third quarter of 2023. The Chinese language magnificence agency noticed income fall 16.3 p.c versus the prior-year interval to RMB718.1 million, which it attributed primarily to its color cosmetics manufacturers.

THE DETAILS Web loss decreased by 6.1 p.c to RMB197.9 million versus RMB210.7 million a 12 months in the past and gross margin stood at 71.4 p.c, in contrast with Q3 2022’s 68.9 p.c.

The group additionally introduced the upsizing and extension of its share repurchase program, growing the mixture worth of shares that could be repurchased below this system from US$150 million to US$200 million.

THE WHY? Jinfeng Huang, Founder, Chairman and Chief Govt Officer of Yatsen, explains, “China’s magnificence trade continued to get well modestly within the third quarter. Amid uncertainties in shopper demand, we remained targeted on constructing robust model fairness based mostly on superior product efficiency and shopper satisfaction. Our medical and premium skincare manufacturers, together with Galénic, DR.WU and Eve Lom, recorded progress in mixed web revenues for one more quarter. In the meantime, we upgraded Good Diary via a collection of campaigns to reposition the model with a refreshed visible id and new product launches. Trying forward, we are going to proceed to adapt flexibly and proceed with our strategic transformation.”