Earnings Call Summary | Yatsen(YSG.US) Q4 2023 Earnings Conference
Earnings Call Summary | Yatsen(YSG.US) Q4 2023 Earnings Conference
The following is a summary of the Yatsen Holding Limited (YSG) Q4 2023 Earnings Call Transcript:
以下是逸仙控股有限公司（YSG）2023年第四季度财报电话会议记录摘要：
Financial Performance:
财务业绩：
Yatsen's fourth quarter net revenue grew by 6.7% year-over-year.
Skincare brands saw net revenue growth of 17.6% YoY, while Color Cosmetic brands saw a slight dip of 1.8% YoY.
The company's gross margin improved to 73.7% in Q4, driven by high margin products and disciplined pricing.
However, a larger net loss margin of 46.1% for Q4 was reported, due to major brand investments and goodwill impairment.
Non-GAAP net loss margin showed signs of improvement for 2023, shrinking to 8.7% from 12.2% YoY.
Cash, restricted cash and short-term investments as of December 31, 2023, were RMB 2.08 billion, down from RMB 2.63 billion as of December 31, 2022.
逸成第四季度净收入同比增长6.7％。
护肤品牌的净收入同比增长17.6％，而彩色化妆品品牌的净收入同比略有下降1.8％。
受高利润产品和严格定价的推动，该公司的毛利率在第四季度提高到73.7％。
但是，由于主要品牌投资和商誉减值，第四季度净亏损率更高，为46.1％。
非公认会计准则净亏损利润率在2023年显示出改善的迹象，从同比12.2％降至8.7％。
截至2023年12月31日，现金、限制性现金和短期投资为20.8亿元人民币，低于截至2022年12月31日的26.3亿元人民币。
Business Progress:
业务进展：
Yatsen's Clinical and Premium Skincare brands showed robust performance; Color Cosmetics brands Little Ondine and Pink Bear recorded YoY revenue growth despite slight decline within the category.
Perfect Diary brand's repositioning process, with a focus on the lipstick category, received a positive customer response.
R&D expenses accounted for 3.4% of total revenues for Q4 2023, signifying a strong focus on innovation.
Significant advancements in R&D capabilities were made, with key product launches and research collaborations.
The company has been recognized for its commitment to inclusion and employee welfare at the China's 2023 DEI Employer Awards.
Q1 2024 total net revenues are expected to be between RMB 765.4 million and RMB 803.7 million, marking a potential YoY increase of up to 5%.
The company is preparing for larger shopping festivals and expects the contribution of new product, Biolip Essence Lipstick, in Perfect Diary brand to increase in the current year.
Yatsen的临床和优质护肤品牌表现强劲；彩色化妆品品牌Little Ondine和Pink Bear尽管该类别略有下降，但仍实现了同比收入增长。
Perfect Diary品牌的重新定位过程以口红类别为重点，获得了客户的积极回应。
研发费用占2023年第四季度总收入的3.4％，这表明了对创新的高度关注。
通过关键产品发布和研究合作，研发能力取得了重大进步。
在中国 2023 年 DEI 雇主奖中，该公司因其对包容性和员工福利的承诺而获得认可。
2024年第一季度的总净收入预计在7.654亿元人民币至8.037亿元人民币之间，同比增长可能高达5％。
该公司正在为更大规模的购物节做准备，并预计Perfect Diary品牌中新产品Biolip Essence Lipstick的贡献将在今年增加。
More details: Yatsen IR
更多详情： Yatsen IR
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