Yatsen E-commerce released its financial report for the third quarter ending September 30, 2023. The data shows that Yatsen E-commerce’s total net revenue was RMB 718.1 million, a year-on-year decrease of 16.3%. The net loss was RMB 197.9 million, narrowing by 6.1% year-on-year. On a non-GAAP basis, the net loss was RMB 130.2 million, expanding by 3.0% year-on-year. The gross profit was RMB 512.8 million, a year-on-year decrease of 13.3%. The gross margin was 71.4%, compared to 68.9% in the same period in 2022. The total operating expenses were RMB 744.3 million, a year-on-year decrease of 13.1%. Fulfillment expenses were RMB 56 million, compared to RMB 63.8 million in the same period in 2022. Sales and marketing expenses were RMB 511.7 million, compared to RMB 564.8 million in the same period in 2022. General and administrative expenses were RMB 151.8 million, compared to RMB 194.5 million in the same period in 2022. R&D expenses were RMB 24.7 million, compared to RMB 33.9 million in the same period in 2022. The operating loss was RMB 231.5 million, narrowing by 12.9% year-on-year. On a non-GAAP basis, the operating loss was RMB 164.6 million, expanding by 1.2% year-on-year.
Yatsen E-commerce’s founder, Chairman, and CEO, Huang Jinfeng, stated: “In the third quarter, the company’s three major skincare brands saw steady growth. Meanwhile, Yatsen’s flagship brand, Perfect Diary, achieved continued brand strength enhancement through the launch of a new visual identity and major new products. We are full of confidence in the future, and according to the company’s Q4 performance guidance, total revenue is expected to achieve year-on-year growth.”
According to the Enterprise Library of 100EC.CN, Guangzhou Yatsen E-commerce Co., Ltd. (hereinafter referred to as Yatsen E-commerce) was founded in 2016. In 2019, Yatsen E-commerce was recognized as a “Unicorn” innovative enterprise in Guangzhou, making it the only e-commerce unicorn on the list.
Apart from Yatsen E-commerce, other listed digital retail companies in China include:
1.Comprehensive E-commerce: Alibaba, JD.com, Pinduoduo, Vipshop, Suning.com, GOME Retail, All Things New, Secoo, Yunji;
2.Live-streaming E-commerce: Kuaishou, Yaowang Technology, Mogu, Oriental Selection, Jiao Ge Peng You;
3.Fresh Food E-commerce: Dingdong Maicai, Missfresh, Pagoda;
4.Auto E-commerce: Tuanche, Uxin;
5.Shopping Guide E-commerce: SMZDM (What Worth Buying), Fanli.com;
6.Installment E-commerce: Qudian, Lexin;
7.Retail E-commerce Service Providers: Youzan, Weimob, Yueshang Group, Guangyun Technology, Baozun E-commerce, Youquhui, Lovely Beauty Makeup, Ruoyuchen, Qingmu Holdings;
8.Vertical E-commerce: Babytree Group, Kutesmart, Wunong Net, Boqii Pet;
9.Brand E-commerce: Xiaomi Group, Bear Electric Appliances, Bestore, Three Squirrels, Yujiahui, Yatsen E-commerce, Rongmei Holdings, Nanjiren E-commerce.
