Yatsen Holding reports Q1 revenue of 1.02 billions, with R&D investment up 74.2% year-on-year.

格隆汇2026/05/26 09:36

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Glonghui, May 26 — Yatsen Holding (NYSE: YSG) has released its Q1 2026 earnings report. According to the announcement, the company’s revenue for the first quarter grew to 1.02 billion yuan, up 22.5% year-on-year, significantly outperforming the industry, and marking six consecutive quarters of year-on-year growth, with a solid and steady growth foundation. Of note, the combined net income from the three major skincare brands Galénic, DR.WU, and EVE LOM surged by 61.4% year-on-year, boosting the skincare business to a steady 58.5% year-on-year increase, achieving revenue of 574 million yuan. Skincare revenue accounted for 56.2% of total revenue, developing in synergy with the makeup business, and has become the core engine driving results growth. Thanks to continuous optimization of the revenue structure, the company’s gross profit increased by 24.3% year-on-year, with the gross margin rising to 80.2%, a record high.Yatsen Holding, with the corporate vision of becoming a “world-class beauty innovation pioneer,” has established a research-driven sustainable development model and remains committed to high R&D investment to enhance the technological content of its products. The financial report shows that in the first quarter of 2026, the company invested 39.44 million yuan in R&D, up 74.2% from a year earlier. Since 2020, the group has invested over 700 million yuan in R&D innovation, maintaining an annual R&D expense ratio of over 3% for three consecutive years.On this, Huang Jinfeng, founder, chairman, and CEO of Yatsen Holding, said: “Our revenue growth aligns with previous expectations, highlighting the resilience of our multi-brand strategy. This quarter’s growth is mainly driven by the continuous momentum of our skincare brands. With our vision of becoming a world-class beauty innovation pioneer, we will continue to strengthen R&D innovation, expand our star product portfolio, and drive high-quality growth for our core brands.”Recently, Yatsen Holding successfully completed the initial issuance of its $120 million convertible bonds. The subscription lineup further expanded, with Huang Jinfeng, Vision Capital, and Hillhouse Capital all increasing their investments, fully demonstrating the strong confidence of top institutions and the founder in the company’s long-term development and strategic layout. After the successful delivery of the first batch of notes, Yatsen Holding will use the funds for product R&D, global supply chain integration, overseas market expansion, strategic acquisitions, and general corporate purposes, further driving sustained business growth and strengthening core competitiveness.

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Harshita Mary Varghese, Reuters, October 9 - SpaceX SPCX.O has agreed to acquire a portfolio of low-band spectrum licenses covering the entire United States, in a deal reportedly valued at $8 billion. The company is seeking to expand its business beyond satellite internet and become a major competitor in the U.S. mobile market. SpaceX revealed its plans to enter the mobile service sector during its first earnings call in August. This announcement briefly weighed on the company’s stock price, and shares of the three major U.S. wireless carriers—AT&T, T-Mobile, and Verizon—were also affected as investors assessed the potential competitive threat. What is low-band spectrum? Low-band spectrum refers to radio waves that travel further and penetrate buildings better compared to higher frequencies, making them suitable for wide-area mobile network coverage. In contrast, mid-band and high-band spectrums can transmit more data at faster speeds but have a smaller coverage area. SpaceX has agreed to purchase up to 14 MHz of paired 800 MHz low-band spectrum licenses from Grain Management and plans to develop a hybrid architecture for Starlink Mobile, combining terrestrial infrastructure with satellite connectivity. How is the U.S. spectrum licensing system structured? Commercial spectrum is a scarce resource in the U.S., regulated by the Federal Communications Commission (FCC), which typically allocates licenses for specific frequencies and geographic areas via auctions or other authorization processes. License holders must comply with technical rules and deployment requirements, and transfers of licenses usually require regulatory approval before obligations are fulfilled. The spectrum license deal recently struck by SpaceX is pending FCC approval. Which low-band spectrum do the three major carriers hold? AT&T’s low-band spectrum includes the 700 MHz and 850 MHz bands, as well as 600 MHz spectrum licenses acquired this July through the purchase of EchoStar. Verizon holds spectrum in the 700 MHz and 850 MHz bands, while T-Mobile’s low-band holdings include 600 MHz and 700 MHz spectrum. What are the plans for STARLINK MOBILE? The company plans to integrate these spectrum licenses into its next-generation satellite system, while also deploying terrestrial radio equipment and antennas on communication towers and rooftops. The FCC this week approved Starlink Mobile’s application for its second-generation (Gen2) satellite constellation, authorizing SpaceX to launch 15,000 satellites globally optimized for the 2 GHz spectrum.

路透社•2026/10/09 13:19