Welcome to our dedicated page for Yatsen Hldg SEC filings (Ticker: YSG), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The Yatsen Holding Limited (NYSE: YSG) SEC filings page on Stock Titan provides centralized access to the company’s U.S. regulatory disclosures. As a foreign private issuer, Yatsen files an annual report on Form 20-F and furnishes current reports on Form 6-K for significant events, including the release of quarterly financial results. For example, the company has furnished Form 6-K reports that attach press releases announcing its second and third quarter 2025 financial results.
Through these filings, investors can review detailed information on Yatsen’s business as a China-based multi-brand beauty group focused on color cosmetics and skincare. The documents describe its brand portfolio, which includes Perfect Diary, Little Ondine, Pink Bear, Galénic, DR.WU (its mainland China business), Eve Lom and EANTiM, as well as other brands referenced in its financial disclosures. They also present data on total net revenues, the contribution from Skincare Brands and Color Cosmetics Brands, gross margin, operating expenses and net income or loss.
Yatsen’s filings discuss both GAAP and non-GAAP financial measures, explaining how management defines non-GAAP income (loss) from operations, non-GAAP operating income (loss) margin, non-GAAP net income (loss) and related metrics. The company outlines which items are excluded from these measures, such as share-based compensation, amortization of acquired intangibles, impairment of goodwill, certain investment revaluations and associated tax effects.
On Stock Titan, these SEC filings are updated as new documents are submitted to EDGAR, and AI-powered summaries help explain the key points in clear language. Users can quickly understand what each Form 20-F or 6-K covers, how Yatsen’s revenue mix and margins are evolving, and how non-GAAP adjustments affect reported results. This context can assist in analyzing YSG’s financial profile, strategic focus on skincare and R&D, and the implications of its capital markets activities, such as share repurchase programs disclosed in its public communications.
Yatsen Holding Ltd director Zong Alan Hao filed an initial ownership report showing he holds share options over 600,000 Class A ordinary shares. These options have an exercise price of 0.025 per share and were granted on February 28, 2026. They vest in three equal tranches of 200,000 shares on February 28, 2027, February 28, 2028, and February 28, 2029 and expire on February 28, 2036.
Yatsen Holding Ltd director Ha Jiming has filed an initial Form 3 reporting option holdings in the company. The filing lists three grants of share options, each giving the right to buy Class A ordinary shares at an exercise price of $0.025 per share, with expirations in 2031, 2032, and 2035.
The underlying share amounts shown are 283,533 shares, 283,532 shares, and 653,480 shares, all held directly. A footnote explains that one option grant dated January 1, 2025 vests over four years in specified annual tranches, subject to the award agreement terms.
Yatsen Holding Ltd director and CEO Jinfeng Huang has filed an initial statement of beneficial ownership, listing substantial indirect holdings in YSG. The filing shows indirect holdings through spouse and affiliated entities in Class A and Class B ordinary shares, share options, a convertible senior note and warrants.
Indirect derivative positions include share options over 13,159,520 and 8,800,691 Class A ordinary shares at an exercise price of $0.025 per share, expiring in 2033 and 2036, with vesting schedules running from 2024 to 2029. A convertible senior note held by Polaris Veritas Investment Limited, an affiliate of Huang and Trustar Capital, is reported as being convertible into up to 259,179,300 Class A ordinary shares at $0.2315 per share, linked to a March 2026 agreement for US$120 million aggregate principal in two tranches.
The filing also lists warrants held by Polaris Veritas Investment Limited to acquire up to 25,917,930 Class A ordinary shares at $0.50 per share, exercisable only upon and to the extent the First Note is converted, plus significant indirect holdings of Class A and Class B ordinary shares through Veritas Vision Holding Limited, Yellow Bee Limited and the CEO’s spouse.
Yatsen Holding Ltd Chief Scientific Officer Cheng Jing filed an initial statement of holdings. The filing reports share options covering 11,824,609 Class A ordinary shares at an exercise price of $0.0250 per share, expiring on February 28, 2033. These options were granted on February 28, 2023 and vest over five years, with specific tranches vesting annually from February 1, 2024 through February 1, 2028 under an award agreement. In addition, 76,000 Class A ordinary shares are reported as held indirectly through the officer’s spouse.
Yatsen Holding Ltd director and CFO Yang Donghao reported his equity holdings in the company. He holds 82,678,620 Class A ordinary shares directly. He also has 5,602,532 restricted shares outstanding, which are tied to an earlier equity award.
The footnote explains this award was originally 78,435,192 restricted shares granted on August 17, 2020, equivalent to the same number of ordinary shares. It vests over seven years, with 16,807,540 shares vesting on January 1 of each year from 2022 through 2025, 5,602,500 vesting on January 1, 2026, and 5,602,532 vesting on January 1, 2027. As of this filing date, 5,602,532 restricted shares remain unvested.
Yatsen Holding Ltd director Zhang Yi filed an initial ownership report detailing existing share option awards tied to the company’s Class A ordinary shares. These are derivative positions that give the right to buy shares at a fixed exercise price.
The filing lists three direct holdings of share options with an exercise price of $0.025 per share. Two option grants each cover 261,396 underlying Class A ordinary shares and expire on March 25, 2031 and March 1, 2032. A third grant covers 653,480 underlying Class A ordinary shares and expires on January 1, 2035.
Footnotes explain that all options granted are fully vested and exercisable as of the filing date, and that one grant was made on January 1, 2025 with vesting spread across four annual installments through November 18, 2028. This Form 3 does not reflect new purchases or sales but records existing option-based holdings.
Yatsen Holding Limited is raising new capital through a private placement of RMB-denominated convertible senior notes and warrants with an investment vehicle affiliated with Trustar Capital and founder Jinfeng Huang. The notes have an aggregate principal amount equivalent to about US$120 million, issued in two equal tranches.
The notes bear 1.5% annual interest, with an initial 364-day term for the first tranche that extends to five years upon receipt of an NDRC foreign debt registration certificate. After 364 days, the notes may be converted into Class A ordinary shares or ADSs at a conversion price of $4.63, a 20% premium to the recent ADS volume-weighted average price.
Alongside the notes, Yatsen will issue cashless warrants equal to one-tenth of the shares issued upon conversion of each note, exercisable at US$0.50 per Class A share (US$10.00 per ADS). Holders can require repurchase for cash on the third anniversary at a price reflecting a 4% internal rate of return. Yatsen plans to use the proceeds mainly for product R&D, global supply chain integration, overseas expansion, strategic M&A, and other corporate purposes.
Yatsen Holding Limited reported strong fourth quarter and full year 2025 results, with clear progress toward profitability. Fourth quarter total net revenues rose 20.1% to RMB1.38 billion, driven mainly by a 51.9% increase in skincare brand revenues, which reached RMB842.8 million and 61.1% of sales.
For full year 2025, total net revenues grew 26.7% to RMB4.30 billion, led by 63.5% growth in skincare revenues. Gross margin improved to 78.2%. Net loss for the year narrowed sharply to RMB92.4 million, while non-GAAP net income turned positive at RMB8.4 million, indicating better operating efficiency.
Yatsen Holding Limited is updating its board structure after the resignation of independent director Sidney Xuande Huang, effective February 28, 2026. His departure is described as for personal reasons and not related to any disagreement with the company.
The board has named Bonnie Yi Zhang as chairwoman of the audit committee, also effective February 28, 2026. It has additionally appointed Alan Hao Zong as an independent director and member of the audit, nominating and corporate governance, and compensation committees. He brings experience in venture capital, strategic investment, and consumer technology from roles at Alibaba, Capital Today Group, and Procter & Gamble, supported by an MBA from Harvard Business School.
Yatsen Holding Limited’s founder-linked entities Veritas Vision Holding Limited and Jinfeng Huang report beneficial ownership of 643,671,174 Class A ordinary shares on an as-converted basis, equal to 34.3% of the Class A share capital as of December 31, 2025.
This position comes from 43,098,294 Class A ordinary shares and 600,572,880 Class B ordinary shares held through Veritas Vision Holding Limited and Yellow Bee Limited. Because each Class B share carries twenty votes, these holdings together represent 90.7% of Yatsen’s total voting power, effectively giving Huang control over shareholder decisions.