{"id":910496,"date":"2025-11-17T05:03:25","date_gmt":"2025-11-17T10:03:25","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/yatsen-announces-third-quarter-2025-financial-results\/"},"modified":"2025-11-17T05:03:25","modified_gmt":"2025-11-17T10:03:25","slug":"yatsen-announces-third-quarter-2025-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/yatsen-announces-third-quarter-2025-financial-results\/","title":{"rendered":"Yatsen Announces Third Quarter 2025 Financial Results"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p class=\"prntac\">\n        <i>Conference Call to Be Held at <span class=\"xn-chron\">7:30 A.M.<\/span> U.S. Eastern Time on <span class=\"xn-chron\">November 17, 2025<\/span><\/i>\n      <\/p>\n<p>\n        <span class=\"legendSpanClass\"><br \/>\n          <span class=\"xn-location\">GUANGZHOU, China<\/span><br \/>\n        <\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Nov. 17, 2025<\/span><\/span> \/PRNewswire\/ &#8212; Yatsen Holding Limited (&#8220;Yatsen&#8221; or the &#8220;Company&#8221;) (NYSE: YSG), a leading <span class=\"xn-location\">China<\/span>-based beauty group, today announced its unaudited financial results for the third quarter ended <span class=\"xn-chron\">September 30, 2025<\/span>.<\/p>\n<p>\n        <b>Third Quarter 2025 Highlights<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>\n          <b>Total net revenues <\/b>for the third quarter of 2025 increased by 47.5% to <span class=\"xn-money\">RMB998.4 million<\/span> (<span class=\"xn-money\">US$140.2 million<\/span>) from <span class=\"xn-money\">RMB677.0 million<\/span> for the prior year period.<\/li>\n<li>\n          <b>Total net revenues from Skincare Brands<sup><b><sup>[1]<\/sup><\/b><\/sup><\/b> for the third quarter of 2025 increased by 83.2% to <span class=\"xn-money\">RMB490.8 million<\/span> (<span class=\"xn-money\">US$68.9 million<\/span>) from <span class=\"xn-money\">RMB267.9 million<\/span> for the prior year period. As a percentage of total net revenues, total net revenues from Skincare Brands for the third quarter of 2025 were 49.2%, as compared with 39.6% for the prior year period.<\/li>\n<li>\n          <b>Gross margin<\/b> for the third quarter of 2025 increased to 78.2% from 75.9% for the prior year period.<\/li>\n<li>\n          <b>Net loss <\/b>for the third quarter of 2025 narrowed by 41.9% to <span class=\"xn-money\">RMB70.4 million<\/span> (<span class=\"xn-money\">US$9.9 million<\/span>) from <span class=\"xn-money\">RMB121.1 million<\/span> for the prior year period. <b>Non-GAAP net loss<sup><b><sup>[2]<\/sup><\/b><\/sup><\/b>for the third quarter of 2025 narrowed by 32.8% to <span class=\"xn-money\">RMB51.5 million<\/span> (<span class=\"xn-money\">US$7.2 million<\/span>) from <span class=\"xn-money\">RMB76.6 million<\/span> for the prior year period.<\/li>\n<\/ul>\n<p>Mr. <span class=\"xn-person\">Jinfeng Huang<\/span>, Founder, Chairman and Chief Executive Officer of Yatsen, stated, &#8220;Today&#8217;s results reflect the continued progress of our strategy to build a competitive and resilient brand portfolio. During the third quarter, we once again achieved revenue growth, with our skincare brands significantly outperforming the market. Our major brands continued to introduce new products, for instance, <i>DR.WU<\/i>&#8216;s PDRN Serum and <i>Gal\u00e9nic<\/i>&#8216;s No.3 VB Serum. Our robust product pipelines have positioned us well for the upcoming Double 11 shopping festival. We remain focused on accelerating brand and product innovation to drive sustainable, long-term growth.&#8221;<\/p>\n<p>Mr. <span class=\"xn-person\">Donghao Yang<\/span>, Director and Chief Financial Officer of Yatsen, commented, &#8220;Our third quarter total net revenues grew by 47.5% year over year, exceeding our previous guidance. While we made upfront investments in new hero product launches and preparations for the Double 11 shopping festival, our ongoing efforts to enhance gross margin and optimize operating efficiency still led to a meaningful year-over-year improvement in our loss margin. We will continue to refine our cost structure and remain confident in the resources and capabilities supporting the Company&#8217;s future growth.&#8221;<\/p>\n<p>\n        <b>Third Quarter 2025 Financial Results<\/b>\n      <\/p>\n<p>\n        <b><br \/>\n          <i>Net Revenues<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>Total net revenues for the third quarter of 2025 increased by 47.5% to <span class=\"xn-money\">RMB998.4 million<\/span> (<span class=\"xn-money\">US$140.2 million<\/span>) from <span class=\"xn-money\">RMB677.0 million<\/span> for the prior year period. The increase was primarily due to an 83.2% year-over-year increase in net revenues from Skincare Brands, combined with a 25.2% year-over-year increase in net revenues from Color Cosmetics Brands.<sup>[3]<\/sup><\/p>\n<p>\n        <b><br \/>\n          <i>Gross Profit and Gross Margin<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>Gross profit for the third quarter of 2025 increased by 51.9% to <span class=\"xn-money\">RMB780.5 million<\/span> (<span class=\"xn-money\">US$109.6 million<\/span>) from <span class=\"xn-money\">RMB513.8 million<\/span> for the prior year period. Gross margin for the third quarter of 2025 increased to 78.2% from 75.9% for the prior year period. The increase was primarily driven by an increase in sales of higher-gross-margin products.<\/p>\n<p>\n        <b><br \/>\n          <i>Operating Expenses <\/i><br \/>\n        <\/b>\n      <\/p>\n<p>Total operating expenses for the third quarter of 2025 increased by 31.9% to <span class=\"xn-money\">RMB864.1 million<\/span> (<span class=\"xn-money\">US$121.4 million<\/span>) from <span class=\"xn-money\">RMB655.2 million<\/span> for the prior year period. As a percentage of total net revenues, total operating expenses for the third quarter of 2025 were 86.5%, as compared with 96.8% for the prior year period.<\/p>\n<ul type=\"disc\">\n<li>\n          <b><br \/>\n            <i>Fulfillment Expenses.<\/i><br \/>\n          <\/b> Fulfillment expenses for the third quarter of 2025 were <span class=\"xn-money\">RMB61.8 million<\/span> (<span class=\"xn-money\">US$8.7 million<\/span>), as compared with <span class=\"xn-money\">RMB50.4 million<\/span> for the prior year period. As a percentage of total net revenues, fulfillment expenses for the third quarter of 2025 decreased to 6.2% from 7.4% for the prior year period. The decrease was primarily driven by fulfillment cost optimization, coupled with the leveraging effect of higher total net revenues in the third quarter of 2025.<\/li>\n<li>\n          <b><br \/>\n            <i>Selling and Marketing Expenses.<\/i><br \/>\n          <\/b> Selling and marketing expenses for the third quarter of 2025 were <span class=\"xn-money\">RMB682.3 million<\/span> (<span class=\"xn-money\">US$95.8 million<\/span>), as compared with <span class=\"xn-money\">RMB494.4 million<\/span> for the prior year period. As a percentage of total net revenues, selling and marketing expenses for the third quarter of 2025 decreased to 68.3% from 73.0% for the prior year period. The decrease was primarily driven by the leveraging effect of higher total net revenues in the third quarter of 2025.<\/li>\n<li>\n          <b><br \/>\n            <i>General and Administrative Expenses.<\/i><br \/>\n          <\/b> General and administrative expenses for the third quarter of 2025 were <span class=\"xn-money\">RMB80.2 million<\/span> (<span class=\"xn-money\">US$11.3 million<\/span>), as compared with <span class=\"xn-money\">RMB85.0 million<\/span> for the prior year period. As a percentage of total net revenues, general and administrative expenses for the third quarter of 2025 decreased to 8.0% from 12.6% for the prior year period. The decrease was primarily driven by lower share-based compensation expenses, coupled with the leveraging effect of higher total net revenues in the third quarter of 2025.<\/li>\n<li>\n          <b><br \/>\n            <i>Research and Development Expenses.<\/i><br \/>\n          <\/b> Research and development expenses for the third quarter of 2025 were <span class=\"xn-money\">RMB39.8 million<\/span> (<span class=\"xn-money\">US$5.6 million<\/span>), as compared with <span class=\"xn-money\">RMB25.3 million<\/span> for the prior year period. As a percentage of total net revenues, research and development expenses for the third quarter of 2025 increased to 4.0% from 3.7% for the prior year period. The increase was primarily driven by higher payroll expenses resulting from a rise in research and development headcount.<\/li>\n<\/ul>\n<p>\n        <b><br \/>\n          <i>Loss from Operations<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>Loss from operations for the third\u00a0quarter of 2025 was <span class=\"xn-money\">RMB83<\/span>.6\u00a0million (<span class=\"xn-money\">US$11<\/span>.7\u00a0million), as compared with <span class=\"xn-money\">RMB141.3 million<\/span> for the prior year period. Operating loss margin was 8.4%, as compared with 20.9% for the prior year period.<\/p>\n<p>Non-GAAP loss from operations<sup>[4]<\/sup> for the third\u00a0quarter of 2025 was <span class=\"xn-money\">RMB60<\/span>.6\u00a0million (<span class=\"xn-money\">US$8<\/span>.5\u00a0million), as compared with <span class=\"xn-money\">RMB98.5 million<\/span> for the prior year period. Non-GAAP operating loss margin<sup>[5] <\/sup>was\u00a06.1%, as compared with 14.5% for the prior year period.<\/p>\n<p>\n        <b><br \/>\n          <i>Net Loss \/ Income<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>Net loss for the third\u00a0quarter of 2025 was <span class=\"xn-money\">RMB70<\/span>.4\u00a0million (<span class=\"xn-money\">US$9<\/span>.9\u00a0million), as compared with <span class=\"xn-money\">RMB121.1 million<\/span> for the prior year period. Net loss margin was 7.0%, as compared with 17.9% for the prior year period. Net loss attributable to Yatsen&#8217;s ordinary shareholders per diluted ADS<sup><sup>[6]<\/sup><\/sup>\u00a0for the third quarter of 2025 was <span class=\"xn-money\">RMB0<\/span>.70\u00a0(US$0.10), as compared with <span class=\"xn-money\">RMB1.22<\/span> for the prior year period.<\/p>\n<p>Non-GAAP net loss for the third\u00a0quarter of 2025 was <span class=\"xn-money\">RMB51<\/span>.5\u00a0million (<span class=\"xn-money\">US$7<\/span>.2\u00a0million), as compared with <span class=\"xn-money\">RMB76.6 million<\/span> for the prior year period. Non-GAAP net loss margin was 5.2%, as compared with 11.3% for the prior year period. Non-GAAP net loss attributable to Yatsen&#8217;s ordinary shareholders per diluted ADS<sup><sup>[7]<\/sup><\/sup> for the third quarter of 2025 was <span class=\"xn-money\">RMB0<\/span>.50\u00a0(US$0.07), as compared with <span class=\"xn-money\">RMB0.77<\/span> for the prior year period.<\/p>\n<p>\n        <b><br \/>\n          <i>Balance Sheet and Cash Flow<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>As of <span class=\"xn-chron\">September 30, 2025<\/span>, the Company had cash, restricted cash and short-term investments of <span class=\"xn-money\">RMB1<\/span>.16\u00a0billion (<span class=\"xn-money\">US$162.6 million<\/span>), as compared with <span class=\"xn-money\">RMB1.36 billion<\/span> as of <span class=\"xn-chron\">December 31, 2024<\/span>.<\/p>\n<p>Net cash used in operating activities for the third\u00a0quarter of 2025 was <span class=\"xn-money\">RMB126.8 million<\/span> (<span class=\"xn-money\">US$17.8 million<\/span>), as compared with <span class=\"xn-money\">RMB175.9 million<\/span> for the prior year period.<\/p>\n<p>\n        <b>Business Outlook<\/b>\n      <\/p>\n<p>For the fourth quarter of 2025, the Company expects its total net revenues to be between <span class=\"xn-money\">RMB1.32 billion<\/span> and <span class=\"xn-money\">RMB1.49 billion<\/span>, representing a year-over-year increase of approximately 15% to 30%. These forecasts reflect the Company&#8217;s current and preliminary views on the market and operational conditions, which are subject to change.<\/p>\n<p>\n        <b>Exchange Rate <\/b>\n      <\/p>\n<p>This announcement contains translations of certain Renminbi (&#8220;RMB&#8221;) amounts into U.S. dollars (&#8220;US$&#8221;) at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to US$ were made at a rate of <span class=\"xn-money\">RMB7.1190<\/span> to <span class=\"xn-money\">US$1.00<\/span>, the exchange rate in effect as of <span class=\"xn-chron\">September 30, 2025<\/span>, as set forth in the H.10 statistical release of The Board of Governors of the Federal Reserve System. The Company makes no representation that any RMB or US$ amounts could have been, or could be, converted into US$ or RMB, as the case may be, at any particular rate, or at all.<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">[1] Include net revenues from <i>Gal\u00e9nic<\/i>, <i>DR.WU<\/i> (its mainland China business),<i> Eve Lom<\/i> and other skincare brands of the Company.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">[2] Non-GAAP net income (loss) is a non-GAAP financial measure. Non-GAAP net income (loss) is defined as net income (loss) excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from assets and business acquisitions, (iii) revaluation of investments on the share of equity method investments, (iv) impairment of goodwill and (v) tax effects on non-GAAP adjustments.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">[3] Include <i>Perfect Diary<\/i>, <i>Little Ondine<\/i>, <i>Pink Bear<\/i> and other color cosmetics brands of the Company.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">[4] Non-GAAP loss from operations is a non-GAAP financial measure. Non-GAAP loss from operations is defined as loss from operations excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from assets and business acquisitions and (iii) impairment of goodwill.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">[5] Non-GAAP operating loss margin is a non-GAAP financial measure, which is defined as non-GAAP net loss from operations as a percentage of total net revenues.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">[6] ADS refers to American depositary shares, each of which represents twenty Class A ordinary shares.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">[7] Non-GAAP net income (loss) attributable to ordinary shareholders per diluted ADS is a non-GAAP financial measure. Non-GAAP net income (loss) attributable to ordinary shareholders per diluted ADS is defined as non-GAAP net income (loss) attributable to ordinary shareholders divided by the weighted average number of diluted ADS outstanding for computing diluted earnings per ADS. Non-GAAP net income (loss) attributable to ordinary shareholders is defined as net income (loss) attributable to ordinary shareholders excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from assets and business acquisitions, (iii) revaluation of investments on the share of equity method investments, (iv) impairment of goodwill, (v) tax effects on non-GAAP adjustments and (vi) accretion to redeemable non-controlling interests.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>Conference Call Information<\/b>\n      <\/p>\n<p>The Company&#8217;s management will hold a conference call on <span class=\"xn-chron\">Monday, November 17, 2025<\/span>, at <span class=\"xn-chron\">7:30 A.M.<\/span> U.S. Eastern Time or <span class=\"xn-chron\">8:30 P.M.<\/span> Beijing Time to discuss its financial results and operating performance for the third quarter of 2025.<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">United States (toll free):<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">+1-888-346-8982<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">International:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">+1-412-902-4272<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Mainland China (toll free):<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">400-120-1203<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Hong Kong, SAR (toll free):<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">800-905-945<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Hong Kong, SAR:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">+852-3018-4992<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>The replay will be accessible through <span class=\"xn-chron\">Monday, November 24<\/span>, by dialing the following numbers:<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">United States:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">+1-877-344-7529<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">International:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">+1-412-317-0088<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Replay Access Code:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4338347<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>A live and archived webcast of the conference call will also be available on the Company&#8217;s investor relations website at <a href=\"http:\/\/ir.yatsenglobal.com\/\" target=\"_blank\" rel=\"nofollow\">http:\/\/ir.yatsenglobal.com<\/a>.<\/p>\n<p>\n        <b>About Yatsen Holding Limited<\/b>\n      <\/p>\n<p>Yatsen Holding Limited (NYSE: YSG) is a leading <span class=\"xn-location\">China<\/span>-based beauty group with the mission of creating an exciting new journey of beauty discovery for consumers around the world. Founded in 2016, the Company has launched and acquired numerous color cosmetics and skincare brands including <i>Perfect Diary<\/i>,<i> Little Ondine<\/i>,<i> Pink Bear<\/i>,<i> Gal\u00e9nic<\/i>,<i> DR.WU<\/i> (its mainland <span class=\"xn-location\">China<\/span> business) and <i><span class=\"xn-person\">Eve Lom<\/span><\/i>. The Company&#8217;s flagship brand, <i>Perfect Diary<\/i>, is one of the leading color cosmetics brands in <span class=\"xn-location\">China<\/span> in terms of retail sales value. The Company primarily reaches and engages with customers directly both online and offline, with expansive presence across all major e-commerce, social and content platforms in <span class=\"xn-location\">China<\/span>.<\/p>\n<p>For more information, please visit <a href=\"http:\/\/ir.yatsenglobal.com\/\" target=\"_blank\" rel=\"nofollow\">http:\/\/ir.yatsenglobal.com<\/a>.<\/p>\n<p>\n        <b>Use of Non-GAAP Financial Measures<\/b>\n      <\/p>\n<p>The Company uses non-GAAP income (loss) from operations, non-GAAP operating income (loss) margin, non-GAAP net income (loss), non-GAAP net income (loss) margin, non-GAAP net income (loss) attributable to ordinary shareholders and non-GAAP net income (loss) attributable to ordinary shareholders per diluted ADS, each a non-GAAP financial measure, in reviewing and assessing its operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company presents these non-GAAP financial measures because they are used by the management to evaluate operating performance and formulate business plans. Non-GAAP financial measures help identify underlying trends in its business, provide further information about its results of operations, and enhance the overall understanding of its past performance and future prospects. The Company defines non-GAAP income (loss) from operations as income (loss) from operations excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from assets and business acquisitions and (iii) impairment of goodwill. Non-GAAP\u00a0operating income (loss) margin is non-GAAP income (loss) from operations as a percentage of total net revenues. The Company defines non-GAAP net income (loss) as net income (loss) excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from assets and business acquisitions, (iii) revaluation of investments on the share of equity method investments, (iv) impairment of goodwill and (v) tax effects on non-GAAP adjustments. Non-GAAP net income (loss) margin is non-GAAP net income (loss) as a percentage of total net revenues. The Company defines non-GAAP net income (loss) attributable to ordinary shareholders as net income (loss) attributable to ordinary shareholders excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from assets and business acquisitions, (iii) revaluation of investments on the share of equity method investments, (iv) impairment of goodwill, (v) tax effects on non-GAAP adjustments and (vi) accretion to redeemable non-controlling interests. Non-GAAP net income (loss) attributable to ordinary shareholders per diluted ADS is computed using non-GAAP net income (loss) attributable to ordinary shareholders divided by weighted average number of diluted ADS outstanding for computing diluted earnings per ADS.<\/p>\n<p>However, the non-GAAP financial measures have limitations as analytical tools as the non-GAAP financial measures are not presented in accordance with U.S. GAAP and may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited. The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating performance. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure. Reconciliations of Yatsen&#8217;s non-GAAP financial measure to the most comparable U.S. GAAP measure are included at the end of this press release.<\/p>\n<p>\n        <b>Safe Harbor Statement <\/b>\n      <\/p>\n<p>This announcement contains statements that may constitute &#8220;forward-looking&#8221; statements which are made pursuant to the &#8220;safe harbor&#8221; provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as &#8220;will,&#8221; &#8220;expects,&#8221; &#8220;anticipates,&#8221; &#8220;aims,&#8221; &#8220;future,&#8221; &#8220;intends,&#8221; &#8220;plans,&#8221; &#8220;believes,&#8221; &#8220;estimates,&#8221; &#8220;likely to,&#8221; and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the Securities and Exchange Commission (&#8220;SEC&#8221;), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company&#8217;s beliefs, plans, outlook and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company&#8217;s growth strategies; its future business development, results of operations and financial condition; its ability to continue to roll out popular products and maintain popularity of existing products; its ability to anticipate and respond to changes in industry trends and consumer preferences and behavior in a timely manner; its ability to attract and retain new customers and to increase revenues generated from repeat customers; its expectations regarding demand for and market acceptance of its products and services; its ability to integrate newly-acquired businesses and brands; trends and competition in and relevant government policies and regulations relating to <span class=\"xn-location\">China&#8217;s<\/span> beauty market; changes in its revenues and certain cost or expense items; and general economic conditions globally and in <span class=\"xn-location\">China<\/span>. Further information regarding these and other risks is included in the Company&#8217;s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.<\/p>\n<p>\n        <b>For investor and media inquiries, please contact:<\/b>\n      <\/p>\n<p>Yatsen Holding Limited<br \/>Investor Relations<br \/>E-mail: <a href=\"mailto:ir@yatsenglobal.com\" target=\"_blank\" rel=\"nofollow\">ir@yatsenglobal.com<\/a><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen4\" colspan=\"12\" rowspan=\"1\">\n<p class=\"prngen24\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>YATSEN\u00a0HOLDING LIMITED<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prngen24\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prngen24\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(All amounts in thousands, except for share, per share data or otherwise noted)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prnpr4 prnpl2 prnvab prntac prnsbtb1 prnrbrb1 prnsbbb1 prnsblb1\" colspan=\"12\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>December 31,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>September 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>September 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2024<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2025<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2025<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB&#8217;000<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB&#8217;000<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>USD&#8217;000<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Assets<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Current assets<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Cash and cash equivalents<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">817,395<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">690,189<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">96,950<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Restricted Cash<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">119,039<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">16,721<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Short-term investments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">539,130<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">348,170<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">48,907<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Accounts receivable, net<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">214,558<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">276,479<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">38,837<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Inventories, net<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">386,054<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">479,663<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">67,378<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Prepayments and other current assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">381,404<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">452,241<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">63,526<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Amounts due from related parties<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">9,113<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">64<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total current assets<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2,347,654<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2,365,845<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>332,328<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Non-current assets<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Investments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">664,579<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">666,891<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">93,678<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Property and equipment, net<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">74,373<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">74,471<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">10,461<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Goodwill, net<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">155,029<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">155,029<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">21,777<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Intangible assets, net<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">559,708<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">555,570<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">78,040<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Deferred tax assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,381<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,453<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">204<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Right-of-use assets, net<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">147,501<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">176,530<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">24,797<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Other non-current assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">20,642<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">24,996<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3,511<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total non-current assets<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,623,213<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,654,940<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>232,468<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total assets<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>3,970,867<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>4,020,785<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>564,796<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Liabilities, redeemable non-controlling interests and shareholders&#8217; equity<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Current liabilities<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Accounts and notes payable<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">72,090<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">254,244<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">35,713<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Advances from customers<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">19,574<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">26,562<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3,731<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Accrued expenses and other liabilities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">460,143<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">383,480<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">53,867<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Amounts due to related parties<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">28,884<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">39,228<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">5,510<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Income tax payables<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">20,088<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">16,234<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,280<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Lease liabilities due within one year<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">39,409<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">52,275<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">7,343<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total current liabilities<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>640,188<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>772,023<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>108,444<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Non-current liabilities<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Deferred tax liabilities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">103,306<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">105,252<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">14,785<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Deferred income-non current<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">14,832<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,665<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">374<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Lease liabilities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">109,526<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">127,697<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">17,937<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total non-current liabilities<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>227,664<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>235,614<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>33,096<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total liabilities<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>867,852<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,007,637<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>141,540<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Redeemable non-controlling interests<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>50,984<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,337<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>188<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Shareholders&#8217; equity<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Ordinary Shares (US$0.00001 par value; 10,000,000,000 ordinary shares authorized, <br \/>comprising of 6,000,000,000 Class A ordinary shares, 960,852,606 Class B ordinary <br \/>shares and 3,039,147,394 shares each of such classes to be designated as of December 31, <br \/>2024 and September 30, 2025; 2,096,600,883 Class A shares and 600,572,880 Class B <br \/>ordinary shares issued as of December 31, 2024 and September 30, 2025; 1,234,627,468 <br \/>Class A ordinary shares and 600,572,880 Class B ordinary shares outstanding as of <br \/>December 31, 2024, 1,279,511,783 Class A ordinary shares and 600,572,880 Class B <br \/>ordinary shares outstanding as of September 30, 2025)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">173<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">173<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">24<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Treasury shares<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,276,330)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,242,567)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(174,542)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Additional paid-in capital<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">12,273,767<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">12,289,222<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,726,257<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Statutory reserve<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">28,147<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">28,147<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3,954<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Accumulated deficit<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(8,057,297)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(8,146,230)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,144,294)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Accumulated other comprehensive income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">86,866<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">89,682<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">12,598<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total Yatsen Holding Limited shareholders&#8217; equity<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>3,055,326<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>3,018,427<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>423,997<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Non-controlling interests<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3,295)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(6,616)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(929)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total shareholders&#8217; equity<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>3,052,031<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>3,011,811<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>423,068<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total liabilities, redeemable non-controlling interests and shareholders&#8217; equity<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>3,970,867<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>4,020,785<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>564,796<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen11\" colspan=\"13\" rowspan=\"1\">\n<p class=\"prngen24\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>YATSEN\u00a0HOLDING LIMITED<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prngen24\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prngen24\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(All amounts in thousands, except for share, per share data or otherwise noted)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"13\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"10\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the Three Months Ended September 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2024<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2025<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2025<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB&#8217;000<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB&#8217;000<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>USD&#8217;000<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total net revenues<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">677,016<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">998,416<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">140,247<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total cost of revenues<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(163,191)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(217,934)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(30,613)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Gross profit<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>513,825<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>780,482<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>109,634<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Operating expenses:<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Fulfilment expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(50,412)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(61,770)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(8,677)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Selling and marketing expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(494,357)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(682,297)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(95,842)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">General and administrative expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(85,046)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(80,230)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(11,270)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Research and development expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(25,338)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(39,755)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(5,584)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total operating expenses<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(655,153)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(864,052)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(121,373)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Loss from operations<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(141,328)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(83,570)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(11,739)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Financial income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">7,722<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">11,701<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,644<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Foreign currency exchange gain (loss)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">12,825<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3,973)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(558)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">(Loss) income from equity method investments, net<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(6,510)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">254<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">36<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Other income, net<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">6,239<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4,903<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">689<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Loss before income tax expenses<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(121,052)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(70,685)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(9,928)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Income tax (expenses) benefits<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(4)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">310<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">44<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net loss<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(121,056)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(70,375)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(9,884)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Net (income) loss attributable to non-controlling interests and <br \/>redeemable non-controlling interests<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(11)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">4,413<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">620<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net loss attributable to Yatsen&#8217;s shareholders<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(121,067)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(65,962)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen17\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen18\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(9,264)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Shares used in calculating loss per share (1):<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Weighted average number of Class A and Class B ordinary shares:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0\u00a0 \u00a0Basic<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,986,538,509<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,877,659,636<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,877,659,636<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0 Diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,986,538,509<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,877,659,636<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,877,659,636<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net loss per Class A and Class B ordinary share<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0\u00a0 \u00a0Basic<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.06)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.04)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.00)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0 Diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.06)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.04)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.00)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net loss per ADS (20 ordinary shares equal to 1 ADS)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0\u00a0 \u00a0Basic<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1.22)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.70)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.10)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0 Diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1.22)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.70)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.10)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prnpr2 prnpl2 prnvab prnsbtb1 prnrbrb1 prnbbbs prnsblb1\" colspan=\"10\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the Three Months Ended September 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2024<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen21\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2025<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen20\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen21\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2025<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Share-based compensation expenses are included in the <br \/>operating expenses as follows:<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB&#8217;000<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB&#8217;000<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>USD&#8217;000<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Fulfilment expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">252<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">20<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Selling and marketing expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,289<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">996<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">140<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">General and administrative expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">23,743<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">9,337<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,312<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Research and development expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">763<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,108<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">296<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>27,047<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>12,461<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,751<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1)\u00a0\u00a0 Authorized share capital is re-classified and re-designated into Class A ordinary shares and Class B ordinary shares, with each Class A ordinary share being entitled to one vote and each Class B ordinary share being entitled to twenty votes on all matters that are subject to shareholder vote.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen4\" colspan=\"12\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>YATSEN\u00a0HOLDING LIMITED<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>UNAUDITED\u00a0RECONCILIATIONS\u00a0OF GAAP AND NON-GAAP RESULTS<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(All amounts in thousands, except for share, per share data or otherwise noted)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"12\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen7\" colspan=\"10\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the Three Months Ended September 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen8\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2024<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2025<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen14\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2025<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB&#8217;000<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB&#8217;000<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>USD&#8217;000<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Loss from operations<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(141,328)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(83,570)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(11,739)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Share-based compensation expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">27,047<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">12,461<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,751<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Amortization of intangible assets resulting from assets and business <br \/>acquisitions<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">15,779<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">10,519<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,478<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Non-GAAP loss from operations<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(98,502)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(60,590)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(8,510)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Net loss<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(121,056)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(70,375)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(9,884)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Share-based compensation expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">27,047<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">12,461<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,751<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Amortization of intangible assets resulting from assets and business <br \/>acquisitions<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">15,779<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">10,519<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,478<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Revaluation of investments on the share of equity method <br \/>investments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3,266<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3,213)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(451)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Tax effects on non-GAAP adjustments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,586)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(866)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(122)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Non-GAAP net loss<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(76,550)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(51,474)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(7,228)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Net loss attributable to Yatsen&#8217;s shareholders<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(121,067)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(65,962)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(9,264)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Share-based compensation expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">27,047<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">12,461<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,751<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Amortization of intangible assets resulting from assets and business <br \/>acquisitions<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">15,385<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">10,240<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,438<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Revaluation of investments on the share of equity method <br \/>investments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3,266<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3,213)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(451)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Tax effects on non-GAAP adjustments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,559)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(866)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(122)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Non-GAAP net loss attributable to Yatsen&#8217;s shareholders<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(76,928)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(47,340)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(6,648)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Shares used in calculating loss per share:<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Weighted average number of Class A and Class B ordinary shares:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0\u00a0 \u00a0Basic<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,986,538,509<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,877,659,636<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,877,659,636<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0 Diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,986,538,509<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,877,659,636<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,877,659,636<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Non-GAAP net loss attributable to ordinary shareholders per <br \/>Class A and Class B ordinary share<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0\u00a0 \u00a0Basic<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.04)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.03)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.00)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0 Diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.04)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.03)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.00)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Non-GAAP net loss attributable to ordinary shareholders per <br \/>ADS (20 ordinary shares equal to 1 ADS)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0\u00a0 \u00a0Basic<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.77)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.50)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.07)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0 Diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.77)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.50)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(0.07)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/edge.prnewswire.com\/c\/img\/favicon.png?sn=CN25793&amp;sd=2025-11-17\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/yatsen-announces-third-quarter-2025-financial-results-302616686.html\" target=\"_blank\">https:\/\/www.prnewswire.com\/news-releases\/yatsen-announces-third-quarter-2025-financial-results-302616686.html<\/a><\/p>\n<p>SOURCE  Yatsen Holding Limited<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=CN25793&amp;Transmission_Id=202511170500PR_NEWS_USPR_____CN25793&amp;DateId=20251117\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire Conference Call to Be Held at 7:30 A.M. U.S. Eastern Time on November 17, 2025 GUANGZHOU, China , Nov. 17, 2025 \/PRNewswire\/ &#8212; Yatsen Holding Limited (&#8220;Yatsen&#8221; or the &#8220;Company&#8221;) (NYSE: YSG), a leading China-based beauty group, today announced its unaudited financial results for the third quarter ended September 30, 2025. Third Quarter 2025 Highlights Total net revenues for the third quarter of 2025 increased by 47.5% to RMB998.4 million (US$140.2 million) from RMB677.0 million for the prior year period. Total net revenues from Skincare Brands[1] for the third quarter of 2025 increased by 83.2% to RMB490.8 million (US$68.9 million) from RMB267.9 million for the prior year period. As a percentage of total net revenues, total net revenues &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/yatsen-announces-third-quarter-2025-financial-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Yatsen Announces Third Quarter 2025 Financial Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-910496","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Yatsen Announces Third Quarter 2025 Financial Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/yatsen-announces-third-quarter-2025-financial-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Yatsen Announces Third Quarter 2025 Financial Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire Conference Call to Be Held at 7:30 A.M. U.S. Eastern Time on November 17, 2025 GUANGZHOU, China , Nov. 17, 2025 \/PRNewswire\/ &#8212; Yatsen Holding Limited (&#8220;Yatsen&#8221; or the &#8220;Company&#8221;) (NYSE: YSG), a leading China-based beauty group, today announced its unaudited financial results for the third quarter ended September 30, 2025. Third Quarter 2025 Highlights Total net revenues for the third quarter of 2025 increased by 47.5% to RMB998.4 million (US$140.2 million) from RMB677.0 million for the prior year period. Total net revenues from Skincare Brands[1] for the third quarter of 2025 increased by 83.2% to RMB490.8 million (US$68.9 million) from RMB267.9 million for the prior year period. 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U.S. Eastern Time on November 17, 2025 GUANGZHOU, China , Nov. 17, 2025 \/PRNewswire\/ &#8212; Yatsen Holding Limited (&#8220;Yatsen&#8221; or the &#8220;Company&#8221;) (NYSE: YSG), a leading China-based beauty group, today announced its unaudited financial results for the third quarter ended September 30, 2025. Third Quarter 2025 Highlights Total net revenues for the third quarter of 2025 increased by 47.5% to RMB998.4 million (US$140.2 million) from RMB677.0 million for the prior year period. Total net revenues from Skincare Brands[1] for the third quarter of 2025 increased by 83.2% to RMB490.8 million (US$68.9 million) from RMB267.9 million for the prior year period. 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