29.8 C
Vientiane
Thursday, July 10, 2025
spot_img
Home Blog Page 807

Over 600 parents and children commemorate Healthy with KidSTART five-year anniversary at largest What’s for Lunch? event to date

The Healthy with KidSTART initiative has expanded significantly, growing from supporting 120 families in 2020 to more than 3,100 families in 2024

SINGAPORE – Media OutReach Newswire – 25 February 2025 – On 22 February 2025, over 600 KidSTART parents and children gathered for a day of fun at the What’s for Lunch? A Farm Adventure food expo organised by Prudential Singapore (“Prudential’) and KidSTART Singapore (“KidSTART”). The event featured a series of activities and performances to promote healthy eating and was held at The Lawn @ The Foothills, Fort Canning Park.

(From left) Mr Joel Tan, Chief Executive Officer of KidSTART Singapore, KidSTART mother Ms Nur Farah, Ms Sun Xueling, Minister of State for Social and Family Development, Ms Chan San San, Chief Executive Officer of Prudential Singapore, and KidSTART mother Ms Sangeetha D/O Jagathisa, join more than 600 parents and children at the What’s for Lunch? A Farm Adventure food expo, at The Lawn @ The Foothills, Fort Canning Park.
(From left) Mr Joel Tan, Chief Executive Officer of KidSTART Singapore, KidSTART mother Ms Nur Farah, Ms Sun Xueling, Minister of State for Social and Family Development, Ms Chan San San, Chief Executive Officer of Prudential Singapore, and KidSTART mother Ms Sangeetha D/O Jagathisa, join more than 600 parents and children at the What’s for Lunch? A Farm Adventure food expo, at The Lawn @ The Foothills, Fort Canning Park.

Joining the families was the event’s Guest-of-Honour, Ms Sun Xueling, Minister of State for Social and Family Development, Ms Chan San San, CEO of Prudential Singapore, and Mr Joel Tan, CEO of KidSTART Singapore. Programme Presenters include the Health Promotion Board and National University Hospital.

The event also marked the fifth anniversary of Healthy with KidSTART, an early childhood nutrition programme launched in 2020. This initiative aims to help lower-income families with children aged six and below – a period critical for physical and cognitive development – adopt healthy eating habits. The programme, a collaboration between KidSTART and leading life and health insurer Prudential as the main sponsor, has grown significantly from supporting 120 families in 2020 to more than 3,100 families in 2024. It provides monthly fresh produce packs including vegetables and fruits, as well as resources on healthy eating from Prudential.

This longstanding partnership between KidSTART and Prudential has been a cornerstone in promoting early childhood nutrition and well-being for lower-income families. Prudential has gone beyond providing monthly fresh produce packs to actively engaging in community outreach efforts such as educational workshops, the provision of healthy plates¹ for children, and resource development such as live online cooking shows and recipe cards with tips on how to engage young children in the kitchen during meal preparation. Prudential² and KidSTART volunteers have clocked almost 20,000 volunteering hours since the inception of the programme packing and delivering the fresh produce packs at least three times a year.

Recognising the pivotal role of family meals in shaping lifelong nutrition, the What’s for Lunch? series was introduced in 2022. This series features interactive cooking workshops by celebrity chefs to equip parents with practical skills and confidence to prepare balanced meals, as well as tips on how to engage their children while cooking. This initiative aligns with Prudential’s goal to ensure lower-income families and children have access to healthy ingredients and the know-how to prepare budget-friendly and nutritious meals, enabling people to live well for longer.

At What’s for Lunch? A Farm Adventure, parents and children enjoyed an eventful day of child-related health and nutrition activities. This is the first event of such scale that has been arranged for KidSTART families by Prudential. The day’s itinerary included craft and stage activities for children, educational workshops such as a Weaning workshop titled “Solid Start: Nurturing Your Baby’s Love for Real Food” and a “How to: Affordable & Healthy Meals” talk by Programme Presenters National University Hospital (NUH) and Health Promotion Board (HPB) respectively, as well as live cooking demonstrations by celebrity chef Mel Dean.

Throughout the event, families were encouraged to participate in the various farm-themed games and activities where they could collect stamps and redeem a goodie bag containing a limited edition What’s for Lunch? 2025 recipe book, food pouches and a parent-child engagement activity booklet from HPB. The games and activities included Farmer’s Market Sweep, where attendees shopped for ingredients to prepare nutritious dishes, Palette to Plate, a colourful art-making activity using vegetable and fruit stamps, and Colourful Farm Sorting, a team game that helps parents understand the importance of incorporating a wide variety of coloured foods into their child’s diet.

Through this initiative, KidSTART and Prudential are not just addressing nutritional needs but also nurturing healthier, happier families for a brighter future. This shared mission reinforces the importance of ensuring every child gets a good start in life to enjoy a vibrant and healthy future.

Quotes

Ms Sun Xue Ling, Minister of State for Social and Family Development, said: “Today we celebrate the fifth-year anniversary of Healthy with KidSTART. When we first started this, it was still during the COVID-19 pandemic and we had to do everything mostly online. Over the last five years, so many things have happened. KidSTART, with the support of Prudential as the main sponsor, has produced fresh food produce packs and recipe cards, online cooking demonstration series which have helped lighten the load for busy parents and provided families valuable tips on child nutrition and practical meal preparation tips. It’s not just about eating. As you eat together, you will also form strong family bonds in the process.”

Ms Chan San San, CEO of Prudential Singapore, said: “We are pleased to celebrate the five-year milestone of the Healthy with KidSTART programme. At Prudential, we want to do our part to ensure children from lower-income families have access to healthier foods, and share with parents how to prepare affordable, nutritious meals. This will foster healthy eating habits from young and contribute towards a healthier future. We see this as a commitment to support our community’s well-being.”

Mr Joel Tan, CEO of KidSTART Singapore, said: “We are grateful for the support and partnership of valuable partners such as Prudential Singapore, who as the main sponsor, have been instrumental, in the growth and success of the Healthy with KidSTART programme, allowing more than 3,100 families to benefit from monthly fresh food produce packs each month. Good nutrition during the early years is essential to a child’s physical, cognitive, and emotional development. Prudential’s steadfast commitment over the years also means that our families are able to rely on their continued support, which gives them greater peace of mind and allow them to focus more on their children’s other needs. The programme has helped to address nutritional gaps and support healthier communities, while also strengthening parent-child bonds. This milestone is especially meaningful as KidSTART marks its fifth anniversary this year, with an exciting lineup of events planned to commemorate this occasion. We look forward to continued meaningful collaborations to give every child a brighter and healthier future.”

Quote from Beneficiary 1 – Ms Cindy Too Xing Di
Cindy is the mother of Ace Tong Wei Heng, who joined the KidSTART programme in February 2024.

Cindy Too, Healthy with KidSTART beneficiary, said: “We’ve always preferred home-cooked meals, and the fresh food produce packs from the Healthy with KidSTART programme have been such a great help. Using the fresh ingredients, we make soups and porridge for our son, who has just started on solids. It makes us happy to know that we have help to build healthy eating habits for our son from as early as possible.”

Quote from Beneficiary 2 – Ms Sangeetha D/O Jagathisan
Sangeetha is the mother of Vihas Vedhan S/O Vasanthran, and Vihana D/O Vasanthran. They joined the KidSTART programme in December 2023.

Sangeetha D/O Jagathisa, Healthy with KidSTART beneficiary, said: “Before joining the Healthy with KidSTART programme, we were quite picky eaters and rarely bought vegetables for our meals. But with the fresh food packs, we didn’t want the vegetables to go to waste, so we started including them in our meals. It’s been such a positive change! Our 1.5-year-old son has become curious and willing to try different vegetables, and we’re so happy he’s not a fussy eater. I also learned about new vegetables I’d never seen before and picked up tips from relatives and online to cook them. These fresh food packs have really encouraged us to explore healthier meals together as a family.”

Quote from Beneficiary 3 – Ms Nur Farah Jannah Binte Abdul Karim
Nur Farah is the mother of Arfa Ayaana Binte Muhammad Firdaus, Asfa Aryan Bin Muhammad Firdaus, and Ayla Amelia Binte Muhammad Aqil. They joined the KidSTART programme in March 2022.

Nur Farah, Healthy with KidSTART beneficiary, said: “With the fresh produce provided, we’ve been able to prepare healthy meals for the family, ensuring there’s food on the table. This was very helpful especially during tough times. As a mom who is currently breastfeeding, these nutritious ingredients have been essential in supporting my milk supply to feed my baby. It’s also a joy to see my children excitedly identify the ingredients in the pack and talk about them—it’s become a fun and educational experience for all of us.”

ANNEX

About Healthy with KidSTART

Healthy with KidSTART is an early childhood nutrition programme, launched in 2020 as a collaboration between KidSTART Singapore (“KidSTART”) and Prudential Singapore. The initiative is aimed at promoting healthy eating habits among children aged 0-6 years old, recognising that good nutrition during this stage is crucial to their development.

Through the programme, families receive monthly deliveries of fresh vegetables and fruits. They also gain access to recipe cards that teach them how to make healthy meals via simple and affordable recipes with the items they receive.


¹Healthy Plates were provided to families in the past, to encourage and educate parents on providing the right proportions of each food category in meals for their children.

²Prudential volunteers comprise Prudential employees, agency force, partners and friends and family.

Hashtag: #PrudentialSingapore #CommunityInvestment




The issuer is solely responsible for the content of this announcement.

About Prudential Assurance Company Singapore (Pte) Ltd (Prudential Singapore)

Prudential Assurance Company Singapore (Pte) Ltd is one of the top life and health insurance companies in Singapore, serving the financial and protection needs of the country’s citizens for 93 years. The company has an AA- Financial Strength Rating from leading credit rating agency Standard & Poor’s, with S$53.3 billion funds under management as at 31 December 2023. It delivers a suite of well-rounded product offerings in Protection, Savings and Investment through multiple distribution channels including a network of more than 5,200 financial representatives.

About KidSTART Singapore

KidSTART Singapore Ltd (KidSTART SG) is a non-profit organisation specialising in supporting families in early childhood development.

We partner the government, the hospitals and the community to empower families with less resources to build strong foundations for their children under 6 years old. Our team of highly trained KidSTART practitioners support caregivers with evidence-based guidance on pregnancy, child development and assessments on the developmental progress of children from birth onwards. Our vision is to give children a good start in life.

KidSTART SG is a Company Limited by Guarantee (CLG) and registered as a charity with Institution of a Public Character (IPC).

Click to check eligibility and for more information on KidSTART SG.

WuXi XDC and LigaChem Biosciences Strengthen Partnership with Expanded MOU to Accelerate ADC Development

SHANGHAI, Feb. 25, 2025 /PRNewswire/ — WuXi XDC Cayman Inc. (“WuXi XDC”, or the “Company”, stock code: 2268.HK), a leading global CRDMO (Contract Research, Development, and Manufacturing Organization) specializing in antibody-drug conjugates (ADCs) and other bioconjugates, today announced the signing of an expanded Memorandum of Understanding (MOU) with LigaChem Biosciences, Inc., a leader in the development of innovative ADC therapies targeting cancer and other serious diseases. This new agreement broadens the scope of the ongoing collaboration, further accelerating the development of next generation innovative ADC therapies.


Under the terms of the expanded MOU, WuXi XDC’s fully integrated ADC discovery service platform will significantly boost the speed and efficiency of LigaChem’s ADC development programs. With WuXi XDC’s cutting-edge technologies and extensive expertise, LigaChem will be well-positioned to seamlessly advance its ADC candidates from discovery through to development stages, ensuring a more streamlined and efficient process at every stage.

Furthermore, LigaChem will utilize WuXi XDC’s fully integrated ADC development and manufacturing platform to support multiple ADC projects. This strategic expansion of the partnership strengthens both companies’ shared mission to develop and deliver innovative ADC therapies that address critical unmet patients needs.

“We are excited to expand our partnership with WuXi XDC,” stated Dr. Yong-Zu Kim, CEO and President of LCB, ” WuXi XDC’s expertise and comprehensive service offerings are crucial to the success of our ADC programs. This expanded partnership enables us to leverage their end-to-end capabilities, accelerating the development of next-generation ADC therapies to address the needs of patients.”

Dr.Jimmy Li, CEO of WuXi XDC commented: “Today’s expanded collaboration with LigaChem underscores the strength of our long-standing partnership. By leveraging our integrated service platforms across discovery, development, and manufacturing, LigaChem will be able to accelerate the development of their promising ADC candidates and streamline the development and manufacturing of their ADC projects. This collaboration reaffirms our ongoing commitment to helping our clients bring innovative therapies to market faster and more efficiently.”

This expanded MOU builds on the initial collaboration between WuXi XDC and LigaChem, which began in 2021. Since then, both companies have made significant strides in advancing the innovation of ADCs and bioconjugates. This new agreement further solidifies the shared vision of advancing the next wave of innovation in the ADC field, poised to deliver meaningful benefits to patients worldwide.

About LigaChem Biosciences

LigaChem Biosciences is dedicated to the discovery and development of innovative therapies that leverage the power of antibody-drug conjugates to treat cancer and other serious diseases. Our mission is to improve the quality of life for patients by providing effective and targeted treatment options. For more information, please visit www.ligachembio.com

About WuXi XDC

WuXi XDC Cayman Inc.  (“WuXi XDC”, stock code: 2268.HK) is a leading global CRDMO focused on antibody drug conjugates (ADC) and the broader bioconjugate market. It provides end-to-end contract research, development and manufacturing services for bioconjugates, including ADCs. Its services cover antibody intermediates and other biologics intermediates, chemical payloads and linkers, as well as bioconjugate drug substances and drug products. For more information about WuXi XDC, please visit: wuxixdc.com

teamLab Phenomena Abu Dhabi Will Open on 18 April Within Saadiyat Cultural District Abu Dhabi

ABU DHABI, UAE, Feb. 25, 2025 /PRNewswire/ — teamLab Phenomena Abu Dhabi will officially open its doors to the public in Saadiyat Cultural District Abu Dhabi on 18 April 2025, announced by the Department of Culture and Tourism—Abu Dhabi (DCT Abu Dhabi), Miral, the leading creator of immersive destinations and experiences in Abu Dhabi, and Tokyo-based art collective, teamLab.

To view the Multimedia News Release, please click: 
https://www.multivu.com/miral/9320251-en-gb-teamlab-phenomena-abu-dhabi-will-open-to-the-public-saadiyat-cultural-district

The 17,000 sqm multi-sensory art experience is operated by Miral Experiences, a subsidiary of Miral, and will include massive transformative exhibits that take guests on a sensory-rich journey, offering a dynamic and ever-evolving guest experience. The exhibits engage sight, sound, and touch, encouraging guests to expand the way they feel, connect and interact with the world around them.

HE Mohamed Khalifa Al Mubarak, Chairman of DCT Abu Dhabi, said: “Saadiyat Cultural District is a testament to Abu Dhabi’s commitment to preserving heritage while embracing a forward-looking vision. The District will convey a message of cultural diversity that will become more powerful over time, creating global connections, inspiring cultural exchange, and fostering new ways of thinking to support the region, the global South and the world. We believe in the diversity of artistic expression and teamLab is the perfect partner to provide immersive art experiences that push the boundaries of art and technology. Together, we are redefining what is possible—expanding our horizons and forging deeper connections in ways never seen before.”

HE added: “Once opened, teamLab Phenomena Abu Dhabi will offer an immersive journey that sparks infinite curiosity and imagination in all who visit. At the intersection of art, technology, and nature, it will create a world of limitless wonder and creativity. Through these multi-sensory explorations, we are inspiring new generations of innovators, thinkers, and creators from Abu Dhabi and beyond.”

A home for infinite curiosity

teamLab Phenomena Abu Dhabi will feature a constantly transforming art experience unique to Abu Dhabi, conceived by the Tokyo-based art collective teamLab. The installations are part of teamLab’s concept of ‘Environmental Phenomena,’ created through an extensive experimentation process. Housed in a purpose-built structure, conceptualised and designed by teamLab Architects and realised by teamLab Architects and Abu Dhabi-based MZ Architects, teamLab Phenomena Abu Dhabi’s architecture will play an important role in providing the exhibits with an environment to evolve freely and organically.

Toshiyuki Inoko, Founder of teamLab, said: “The artworks in teamLab Phenomena Abu Dhabi do not exist independently, but are created by the environment which produces the various phenomena that cause the artworks to exist. Up until now, things that humans have created have existed through matter, just like a rock, and have a stable structure in and of themselves. Unlike such things, the existence of the artworks in teamLab Phenomena are created by the environment. The environment produces the phenomena, and the environment maintains the existence of the structure. Let us call that existence environmental phenomena.

“Existence will be freed from matter that has previously been responsible for its existence. Elements like air, water, and light that permeate our daily lives are transformed by their environment into unique phenomena that will become the existence. The boundaries of that existence are ambiguous and continuous. Even if people break the artwork apart, the work will remain in existence as long as its environment is maintained. Conversely, if the environment is not maintained, the work will disappear. Perhaps, people’s consciousness will spread from existence itself to the environment. A rock will continue to exist even if it is placed in a sealed box isolated from the outside world, but life cannot maintain its existence if it is placed in such a closed box. Life is also an existence that is maintained by the environment. Life may be a miraculous phenomenon that emerges from a flow in an open and continuous world.”

Experience massive transformative exhibits

Guests will be immersed within a realm of creativity and innovation through a series of massive transformative exhibits.

In Massless Suns and Dark Suns, spheres of light and darkness converge to challenge perceptions of reality. Radiant spheres of light appear as solid yet intangible entities; these spheres of light only exist in your perception. As perspectives broaden, purple-blue spheres of darkness also emerge, as though darkness has been solidified. Touching the light of a sphere ignites an intense glow, triggering a harmonious ripple effect across neighbouring spheres. This artwork cannot exist on its own—its existence is a phenomenon created by its environment.

Building upon the previous realm of light and darkness, Levitation Void introduces an order of energy at the centre of its space, a void that is born and maintained by its environment. The void rises to a new existence, one that hovers freely in the air—transcending the concept of a tangible object, levitating effortlessly in the middle of its space, neither grounded nor confined to a ceiling. When pushed, it may move or fall to the ground, but as if by instinct, it slowly rises again, repairing itself and remaining in a state of levitation.

To learn more about teamLab Phenomena Abu Dhabi or purchase tickets, visit: www.teamlababudhabi.com.

Saadiyat Cultural District continues to grow

teamLab Phenomena Abu Dhabi is a key addition to Saadiyat Cultural District Abu Dhabi, which upon completion will be the largest concentration of world-leading cultural and educational institutions in the world. Through its dynamic spaces, this district will foster cultural interaction, creative exchange and knowledge generation through its experiences, events, exhibitions and collections.

The growing District is the home of Louvre Abu Dhabi, the first universal museum in the Arab world; Manarat Al Saadiyat cultural centre, which hosts major art exhibitions including two of Abu Dhabi’s most important cultural events, Abu Dhabi Art and Culture Summit Abu Dhabi, as well as a year-round programme of creative events and workshops; and Berklee Abu Dhabi, offering world-leading performing arts education programmes.

Saadiyat Cultural District will soon be joined by Zayed National Museum, the national museum of the UAE, Natural History Museum Abu Dhabi, telling the story of life on earth and the origins of our universe, and Guggenheim Abu Dhabi, featuring a global collection of modern and contemporary art that reflects the diversity of cultures and trends from around the world.

For more information about Saadiyat Cultural District, visit: https://scdabudhabi.ae.

Video: https://mma.prnasia.com/media2/2625031/Miral.mp4
Logo: https://laotiantimes.com/wp-content/uploads/2025/02/miral_teamlab_dct_logo.jpg

 

 

TLP DATE ANNOUNCEMENT 90 SEC SUPERS 16×9

 

Everest Medicines to Announce Full-Year 2024 Financial Results on March 26, 2025

SHANGHAI, Feb. 25, 2025 /PRNewswire/ — Everest Medicines (HKEX 1952.HK, “Everest”, or the “Company”), a biopharmaceutical company focused on the discovery, clinical development, manufacturing and commercialization of innovative therapeutics, today announced that it will report its financial results for the full year of 2024 ended December 31, 2024, and provide a business update on March 26, 2025. The Company will hold a live conference call in English and Mandarin on March 26, 2025 Beijing Time.

The English session of the conference call will be held at 9:00 AM on March 26, 2025 Beijing Time (9:00 PM U.S. Eastern Time on March 25, 2025), and the Mandarin session of the conference call will be held at 10:30 AM Beijing Time on the same day (10:30 PM U.S. Eastern Time on March 25, 2025).

The conference calls can be accessed by the following links:

For English Session:

Time: 9:00 AM Beijing Time, Wednesday, March 26, 2025 (9:00 PM U.S. Eastern Time on March 25, 2025)

Pre-Registration Link: https://www.acecamptech.com/eventDetail/60522311

Webcast Link:
https://www.acecamptech.com/meeting_live/70524304/786503?event_id=60522311

Alternatively, participants may dial in to the conference call using below dial-in information:

United States:

+1-646-2543594 (EN)

Chinese Mainland:

+86-10-58084166 (EN)

+86-10-58084199 (CN)

Hong Kong, China:

+852-30051313 (EN)

+852-30051355 (CN)

United Kingdom:

International:

+44-12-13680466 (EN)

+1-866-6363243 (EN)

Password:

583122

For Mandarin Session:

Time: 10:30 AM Beijing Time, Wednesday, March 26, 2025 (10:30 PM U.S. Eastern Time on March 25, 2025)

Webcast Link: https://s.comein.cn/3amz5di6

Alternatively, participants may dial into the conference call using below dial-in information:

Chinese Mainland:

+86-4008108117

Beijing, China

+86-10-57304337

Hong Kong, China:

Taiwan, China:

+852-30051355

+886-800666425

Singapore:

+65-68185374

Password:

763194

The replay of English session will be available shortly after the call and can be accessed by visiting the Company’s website at http://www.everestmedicines.com.

About Everest Medicines

Everest Medicines is a biopharmaceutical company focused on discovering, developing, manufacturing and commercializing transformative pharmaceutical products and vaccines that address critical unmet medical needs for patients in Asian markets. The management team of Everest Medicines has deep expertise and an extensive track record from both leading global pharmaceutical companies and local Chinese pharmaceutical companies in high-quality discovery, clinical development, regulatory affairs, CMC, business development and operations. Everest Medicines has built a portfolio of potentially global first-in-class or best-in-class molecules in the company’s core therapeutic areas of renal diseases, infectious diseases and autoimmune disorders. For more information, please visit its website at www.everestmedicines.com.

Forward-Looking Statements:

This news release may make statements that constitute forward-looking statements, including descriptions regarding the intent, belief or current expectations of the Company or its officers with respect to the business operations and financial condition of the Company, which can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, or other factors, some of which are beyond the control of the Company and are unforeseeable. Therefore, the actual results may differ from those in the forward-looking statements as a result of various factors and assumptions, such as future changes and developments in our business, competitive environment, political, economic, legal and social conditions. The Company or any of its affiliates, directors, officers, advisors or representatives has no obligation and does not undertake to revise forward-looking statements to reflect new information, future events or circumstances after the date of this news release, except as required by law.

 

Yatsen Announces Fourth Quarter and Full Year 2024 Financial Results

Conference Call to Be Held at 7:30 A.M. U.S. Eastern Time on February 25, 2025

GUANGZHOU, China, Feb. 25, 2025 /PRNewswire/ — Yatsen Holding Limited (“Yatsen” or the “Company”) (NYSE: YSG), a leading China-based beauty group, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2024.

Fourth Quarter and Full Year 2024 Highlights

  • Total net revenues for the fourth quarter of 2024 increased by 7.1% to RMB1.15 billion (US$157.3 million) from RMB1.07 billion for the prior year period. Total net revenues for the full year of 2024 decreased by 0.6% to RMB3.39 billion (US$464.9 million) from RMB3.41 billion for the prior year period.
  • Total net revenues from Skincare Brands[1] for the fourth quarter of 2024 were RMB554.8 million (US$76.0 million), remaining flat as compared with the prior year period. As a percentage of total net revenues, total net revenues from Skincare Brands for the fourth quarter of 2024 were 48.3%, as compared with 51.7% for the prior year period. Total net revenues from Skincare Brands for the full year of 2024 increased by 0.7% to RMB1.39 billion (US$190.9 million) from RMB1.38 billion for the prior year period. As a percentage of total net revenues, total net revenues from Skincare Brands for the full year of 2024 were 41.1%, as compared with 40.5% for the prior year period.
  • Gross margin for the fourth quarter of 2024 increased to 77.8% from 73.7% for the prior year period. Gross margin for the full year of 2024 increased to 77.1% from 73.6% for the prior year period.
  • Net loss for the fourth quarter of 2024 decreased by 23.4% to RMB378.8 million (US$51.9 million) from RMB494.5 million for the prior year period. Net loss for the full year of 2024 decreased by 5.3% to RMB710.2 million (US$97.3 million) from RMB750.2 million for the prior year period. Non-GAAP net income[2] for the fourth quarter of 2024 was RMB107.0 million (US14.7 million), as compared with non-GAAP net loss of RMB93.7 million for the prior year period. Non-GAAP net loss for the full year of 2024 decreased by 56.7% to RMB128.2 million (US$17.6 million) from RMB296.1 million for the prior year period.

Mr. Jinfeng Huang, Founder, Chairman and Chief Executive Officer of Yatsen, stated, “We are pleased to share our solid performance in the fourth quarter of 2024, despite the continued challenges in the beauty market. We achieved year-over-year growth in total net revenues for the fourth quarter, driven by the recovery of Perfect Diary as well as the combined growth of our three major skincare brands. In terms of profitability, we also made solid progress, narrowing our net loss margin while delivering non-GAAP net income for the quarter. This performance reflects the success of our strategic initiatives in product development, brand building, and cost optimization. As we move forward, we will remain committed to our strategic transformation plan and are confident in our ability to navigate the evolving market dynamics and drive sustainable growth.” 

Mr. Donghao Yang, Director and Chief Financial Officer of Yatsen, commented, “Our financial results for the fourth quarter and full year of 2024 demonstrate the effective execution of our strategic transformation. In the fourth quarter, we achieved a 7.1% year-over-year increase in net revenues, in line with our guidance. Our gross margin rose to 77.8%, up from 73.7% for the prior year period. While we recorded a net loss, primarily due to a goodwill impairment of RMB403.1 million, we achieved solid non-GAAP net income with a 9.3% margin.[3] For the full year 2024, our total net revenues declined by 0.6% year over year, reflecting overall stability. Meanwhile, our gross margin, net loss margin, and non-GAAP net loss margin all showed improvements compared with the prior year. Looking ahead, we will continue to enhance our operational efficiencies and strategically allocate resources to position the company for long-term success.”

Fourth Quarter 2024 Financial Results

Net Revenues

Total net revenues for the fourth quarter of 2024 increased by 7.1% to RMB1.15 billion (US$157.3 million) from RMB1.07 billion for the prior year period. The increase was primarily due to a 16.4% year-over-year increase in net revenues from Color Cosmetics Brands.[4]

Gross Profit and Gross Margin

Gross profit for the fourth quarter of 2024 increased by 13.0% to RMB893.0 million (US$122.3 million) from RMB790.1 million for the prior year period. Gross margin for the fourth quarter of 2024 increased to 77.8% from 73.7% for the prior year period. The increase was primarily driven by an increase in sales of higher-gross-margin products.

Operating Expenses

Total operating expenses for the fourth quarter of 2024 decreased by 3.5% to RMB1.28 billion (US$175.9 million) from RMB1.33 billion for the prior year period. As a percentage of total net revenues, total operating expenses for the fourth quarter of 2024 were 111.8%, as compared with 124.0% for the prior year period.

  • Fulfillment Expenses. Fulfillment expenses for the fourth quarter of 2024 were RMB63.5 million (US$8.7 million), as compared with RMB62.7 million for the prior year period. As a percentage of total net revenues, fulfillment expenses for the fourth quarter of 2024 decreased to 5.5% from 5.8% for the prior year period. The decrease was primarily due to an increase in the overall average selling price of the Company’s products, as well as further improvements in logistics efficiency.
  • Selling and Marketing Expenses. Selling and marketing expenses for the fourth quarter of 2024 were RMB690.6 million (US$94.6 million), as compared with RMB717.4 million for the prior year period. As a percentage of total net revenues, selling and marketing expenses for the fourth quarter of 2024 decreased to 60.1% from 66.9% for the prior year period. The decrease was primarily due to the Company’s more strategic marketing spending, combined with lower payroll expenses related to selling and marketing personnel.
  • General and Administrative Expenses. General and administrative expenses for the fourth quarter of 2024 were RMB100.1 million (US$13.7 million), as compared with RMB158.7 million for the prior year period. As a percentage of total net revenues, general and administrative expenses for the fourth quarter of 2024 decreased to 8.7% from 14.8% for the prior year period. The decrease was primarily attributable to lower payroll expenses resulting from a reduction in general and administrative headcount and lower share-based compensation expenses.
  • Research and Development Expenses. Research and development expenses for the fourth quarter of 2024 were RMB26.3 million (US$3.6 million), as compared with RMB36.9 million for the prior year period. As a percentage of total net revenues, research and development expenses for the fourth quarter of 2024 decreased to 2.3% from 3.4% for the prior year period. The decrease was primarily attributable to the Company’s efforts to maintain research and development expenses at a reasonable level relative to total net revenues.
  • Impairment of Goodwill. Impairment of goodwill for the fourth quarter of 2024 was RMB403.1 million (US$55.2 million), as compared with RMB354.0 million in the prior year period. Impairment recorded in this quarter mainly represents the amount by which the carrying value of the Eve Lom reporting unit exceeded its fair value, based on the quantitative goodwill impairment test, primarily due to weaker operating results than expected.

Loss / Income from Operations

Loss from operations for the fourth quarter of 2024 was RMB390.7 million (US$53.5 million), as compared with RMB539.6 million for the prior year period. Operating loss margin was 34.0%, as compared with 50.3% for the prior year period.

Non-GAAP income from operations[5] for the fourth quarter of 2024 was RMB93.2 million (US$12.8 million), as compared with non-GAAP loss from operations of RMB125.9 million for the prior year period. Non-GAAP operating income margin[6] was 8.1%, as compared with non-GAAP operating loss margin of 11.7% for the prior year period.

Net Loss / Income

Net loss for the fourth quarter of 2024 was RMB378.8 million (US$51.9 million), as compared with RMB494.5 million for the prior year period. Net loss margin was 33.0%, as compared with 46.1% for the prior year period. Net loss attributable to Yatsen’s ordinary shareholders per diluted ADS[7] for the fourth quarter of 2024 was RMB3.98 (US$0.55), as compared with RMB4.57 for the prior year period.

Non-GAAP net income for the fourth quarter of 2024 was RMB107.0 million (US$14.7 million), as compared with non-GAAP net loss of RMB93.7 million for the prior year period. Non-GAAP net income margin was 9.3%, as compared with non-GAAP net loss margin of 8.7% for the prior year period. Non-GAAP net income attributable to Yatsen’s ordinary shareholders per diluted ADS[8] for the fourth quarter of 2024 was RMB0.99 (US$0.14), as compared with non-GAAP net loss attributable to Yatsen’s ordinary shareholders per diluted ADS of RMB0.84 for the prior year period.

Full Year 2024 Financial Results

Total net revenues for the full year of 2024 decreased by 0.6% to RMB3.39 billion (US$464.9 million) from RMB3.41 billion for the prior year period, primarily attributable to the decline in net revenues from Color Cosmetics Brands, partially offset by the increase in net revenues from Skincare Brands.

Gross profit for the full year of 2024 increased by 4.1% to RMB2.62 billion (US$358.6 million) from RMB2.51 billion for the prior year period. Gross margin for the full year of 2024 increased to 77.1% from 73.6% for the prior year period. The increase was primarily attributable to increasing sales of higher-gross margin products. 

Loss from operations for the full year of 2024 was RMB824.9 million (US$113.0 million), as compared with RMB913.4 million for the prior year period. Operating loss margin decreased to 24.3% from 26.7% for the prior year period.

Non-GAAP loss from operations for the full year of 2024 was RMB224.3 million (US$30.7 million), as compared with RMB427.5 million for the prior year period. Non-GAAP operating loss margin decreased to 6.6% from 12.5% for the prior year period.

Net loss for the full year of 2024 was RMB710.2 million (US$97.3 million), as compared with RMB750.2 million for the prior year period. Net loss margin decreased to 20.9% from 22.0% for the prior year period. Net loss attributable to Yatsen’s ordinary shareholders per diluted ADS for the full year of 2024 was RMB6.99 (US$0.96), as compared with RMB6.81 for the prior year period.

Non-GAAP net loss for the full year of 2024 was RMB128.2 million (US$17.6 million), as compared with RMB296.1 million for the prior year period. Non-GAAP net loss margin decreased to 3.8% from 8.7% for the prior year period. Non-GAAP net loss attributable to Yatsen’s ordinary shareholders per diluted ADS for the full year of 2024 was RMB1.26 (US$0.17), as compared with RMB2.66 for the prior year period.

Balance Sheet and Cash Flow

As of December 31, 2024, the Company had cash, restricted cash and short-term investments of RMB1.36 billion (US$185.8 million), as compared with RMB2.08 billion as of December 31, 2023.

Net cash generated from operating activities for the fourth quarter of 2024 was RMB202.2 million (US$27.7 million), as compared with RMB90.5 million for the prior year period. Net cash used in operating activities for the full year of 2024 was RMB243.7 million (US$33.4 million), as compared with RMB107.4 million for the prior year period.

Business Outlook

For the first quarter of 2025, the Company expects its total net revenues to be between RMB788.8 million and RMB866.2 million, representing a year-over-year increase of approximately 2% to 12%. These forecasts reflect the Company’s current and preliminary views on the market and operational conditions, which are subject to change.

Exchange Rate

This announcement contains translations of certain Renminbi (“RMB”) amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to US$ were made at a rate of RMB7.2993 to US$1.00, the exchange rate in effect as of December 31, 2024, as set forth in the H.10 statistical release of The Board of Governors of the Federal Reserve System. The Company makes no representation that any RMB or US$ amounts could have been, or could be, converted into US$ or RMB, as the case may be, at any particular rate, or at all.

[1] Include net revenues from Galénic, DR.WU (its mainland China business), Eve Lom and other skincare brands of the Company.

[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.

[3] Non-GAAP net income (loss) margin is a non-GAAP financial measure, which is defined as non-GAAP net income (loss) as a percentage of total net revenues.

[4] Include Perfect Diary, Little Ondine, Pink Bear and other color cosmetics brands of the Company.

[5] Non-GAAP income (loss) from operations is a non-GAAP financial measure. Non-GAAP income (loss) from operations is defined 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.

[6] Non-GAAP operating income (loss) margin is a non-GAAP financial measure, which is defined as non-GAAP net income (loss) from operations as a percentage of total net revenues.

[7] ADS refers to American depositary shares, each of which represents twenty Class A ordinary shares, effective from March 18, 2024. Prior to that date, each ADS represented four Class A ordinary shares. Unless otherwise stated, the current ADS ratio has been applied retrospectively to all periods presented in this document.

[8] 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.

Conference Call Information

The Company’s management will hold a conference call on Tuesday, February 25, 2025, at 7:30 A.M. U.S. Eastern Time or 8:30 P.M. Beijing Time to discuss its financial results and operating performance for the fourth quarter and full year 2024.

United States (toll free):

+1-888-346-8982

International:

+1-412-902-4272

Mainland China (toll free):

400-120-1203

Hong Kong, SAR (toll free):

800-905-945

Hong Kong, SAR:

+852-3018-4992

Conference ID:

5014463

The replay will be accessible through Tuesday, March 4, by dialing the following numbers:

United States:

+1-877-344-7529

International:

+1-412-317-0088

Replay Access Code:

5014463

A live and archived webcast of the conference call will also be available on the Company’s investor relations website at http://ir.yatsenglobal.com.

About Yatsen Holding Limited

Yatsen Holding Limited (NYSE: YSG) is a leading China-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 Perfect Diary, Little Ondine, Pink Bear, Galénic, DR.WU (its mainland China business), Eve Lom and EANTiM. The Company’s flagship brand, Perfect Diary, is one of the leading color cosmetics brands in China 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 China.

For more information, please visit http://ir.yatsenglobal.com.

Use of Non-GAAP Financial Measures

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 operating 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.

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’s non-GAAP financial measure to the most comparable U.S. GAAP measure are included at the end of this press release.

Safe Harbor Statement

This announcement contains statements that may constitute “forward-looking” statements which are made pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the Securities and Exchange Commission (“SEC”), 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’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’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 China’s beauty market; changes in its revenues and certain cost or expense items; and general economic conditions globally and in China. Further information regarding these and other risks is included in the Company’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.

For investor and media inquiries, please contact:

In China:

Yatsen Holding Limited
Investor Relations
E-mail: ir@yatsenglobal.com

Piacente Financial Communications
Hui Fan
Tel: +86-10-6508-0677
E-mail: yatsen@thepiacentegroup.com

In the United States:

Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: yatsen@thepiacentegroup.com

 

 

 

YATSEN HOLDING LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands, except for share, per share data or otherwise noted)

December
31,

December
31,

December
31,

2023

2024

2024

RMB’000

RMB’000

USD’000

Assets

Current assets

Cash and cash equivalents

836,888

817,395

111,983

Restricted cash

21,248

Short-term investments

1,218,481

539,130

73,861

Accounts receivable, net

198,851

214,558

29,394

Inventories, net

352,090

386,054

52,889

Prepayments and other current assets

303,841

381,404

52,252

Amounts due from related parties

20,200

9,113

1,248

Total current assets

2,951,599

2,347,654

321,627

Non-current assets

Investments

618,752

664,579

91,047

Property and equipment, net

64,878

74,373

10,189

Goodwill, net

556,567

155,029

21,239

Intangible assets, net

671,396

559,708

76,680

Deferred tax assets

1,375

1,381

189

Right-of-use assets, net

114,348

147,501

20,208

Other non-current assets

27,100

20,642

2,828

Total non-current assets

2,054,416

1,623,213

222,380

Total assets

5,006,015

3,970,867

544,007

Liabilities, redeemable non-controlling interests and shareholders’ equity

Current liabilities

Accounts payable

105,691

72,090

9,876

Advances from customers

41,579

19,574

2,682

Accrued expenses and other liabilities

391,217

460,143

63,039

Amounts due to related parties

9,431

28,884

3,957

Income tax payables

17,946

20,088

2,752

Lease liabilities due within one year

45,464

39,409

5,399

Total current liabilities

611,328

640,188

87,705

Non-current liabilities

Deferred tax liabilities

111,591

103,306

14,153

Deferred income-non current

30,556

14,832

2,032

Lease liabilities

67,767

109,526

15,005

Total non-current liabilities

209,914

227,664

31,190

Total liabilities

821,242

867,852

118,895

Redeemable non-controlling interests

51,466

50,984

6,985

Shareholders’ equity

Ordinary Shares (US$0.00001 par value; 10,000,000,000 ordinary shares authorized,
comprising of 6,000,000,000 Class A ordinary shares, 960,852,606 Class B ordinary shares
and 3,039,147,394 shares each of such classes to be designated as of December 31, 2023
and December 31, 2024; 2,030,600,883 Class A shares and 666,572,880 Class B ordinary
shares issued as of December 31, 2023, 2,096,600,883 Class A shares and 600,572,880
Class B ordinary shares issued as of December 31, 2024; 1,487,546,132 Class A ordinary
shares and 666,572,880 Class B ordinary shares outstanding as of December 31, 2023,
1,234,627,468 Class A ordinary shares and 600,572,880 Class B ordinary shares
outstanding as of December 31, 2024)

173

173

24

Treasury shares

(864,568)

(1,276,330)

(174,856)

Additional paid-in capital

12,260,208

12,273,767

1,681,499

Statutory reserve

24,177

28,147

3,856

Accumulated deficit

(7,345,153)

(8,057,297)

(1,103,845)

Accumulated other comprehensive income

60,200

86,866

11,900

Total Yatsen Holding Limited shareholders’ equity

4,135,037

3,055,326

418,578

Non-controlling interests

(1,730)

(3,295)

(451)

Total shareholders’ equity

4,133,307

3,052,031

418,127

Total liabilities, redeemable non-controlling interests and shareholders’ equity

5,006,015

3,970,867

544,007

 

 

 

YATSEN HOLDING LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(All amounts in thousands, except for share, per share data or otherwise noted)

For the Three Months Ended December 31,

For the Year Ended December 31,

2023

2024

2024

2023

2024

2024

RMB’000

RMB’000

USD’000

RMB’000

RMB’000

USD’000

Total net revenues

1,072,691

1,148,522

157,347

3,414,774

3,393,414

464,896

Total cost of revenues

(282,548)

(255,536)

(35,008)

(901,455)

(776,236)

(106,344)

Gross profit

790,143

892,986

122,339

2,513,319

2,617,178

358,552

Operating expenses:

Fulfilment expenses

(62,741)

(63,517)

(8,702)

(229,021)

(216,540)

(29,666)

Selling and marketing expenses

(717,439)

(690,584)

(94,610)

(2,230,974)

(2,268,793)

(310,823)

General and administrative expenses

(158,716)

(100,122)

(13,717)

(500,942)

(444,373)

(60,879)

Research and development expenses

(36,851)

(26,345)

(3,609)

(111,698)

(109,287)

(14,972)

Impairment of goodwill

(354,039)

(403,076)

(55,221)

(354,039)

(403,076)

(55,221)

Total operating expenses

(1,329,786)

(1,283,644)

(175,859)

(3,426,674)

(3,442,069)

(471,561)

Loss from operations

(539,643)

(390,658)

(53,520)

(913,355)

(824,891)

(113,009)

Financial income

15,763

20,973

2,873

89,020

86,136

11,801

Foreign currency exchange gain (loss)

6,400

(22,129)

(3,032)

7,218

(20,399)

(2,795)

Income (loss) from equity method
investments, net

4,446

(8,104)

(1,110)

10,122

1,386

190

Other income, net

15,612

18,726

2,565

53,558

44,461

6,091

Loss before income tax expenses

(497,422)

(381,192)

(52,224)

(753,437)

(713,307)

(97,722)

Income tax benefits

2,896

2,388

327

3,210

3,086

423

Net loss

(494,526)

(378,804)

(51,897)

(750,227)

(710,221)

(97,299)

Net loss (income) attributable to non-
controlling interests and redeemable non-
controlling interests

4,011

(5,430)

(744)

5,439

2,047

280

Accretion to redeemable non-controlling
interests

(2,975)

Net loss attributable to Yatsen’s
shareholders

(490,515)

(384,234)

(52,641)

(747,763)

(708,174)

(97,019)

Net loss attributable to ordinary
shareholders of Yatsen

(490,515)

(384,234)

(52,641)

(747,763)

(708,174)

(97,019)

Shares used in calculating loss per share
(1):

Weighted average number of Class A and
Class B ordinary shares:

    Basic

2,146,881,745

1,930,413,426

1,930,413,426

2,195,818,231

2,025,072,131

2,025,072,131

    Diluted

2,146,881,745

1,930,413,426

1,930,413,426

2,195,818,231

2,025,072,131

2,025,072,131

Net loss per Class A and Class B ordinary
share

    Basic

(0.23)

(0.20)

(0.03)

(0.34)

(0.35)

(0.05)

    Diluted

(0.23)

(0.20)

(0.03)

(0.34)

(0.35)

(0.05)

Net loss per ADS (20 ordinary shares
equal to 1 ADS) (2)

    Basic

(4.57)

(3.98)

(0.55)

(6.81)

(6.99)

(0.96)

    Diluted

(4.57)

(3.98)

(0.55)

(6.81)

(6.99)

(0.96)

For the Three Months Ended December 31,

For the Year Ended December 31,

2023

2024

2024

2023

2024

2024

Share-based compensation expenses are
included in the operating expenses as
follows:

RMB’000

RMB’000

USD’000

RMB’000

RMB’000

USD’000

Fulfilment expenses

256

237

32

2,055

387

53

Selling and marketing expenses

3,298

2,259

309

23,518

(42)

(6)

General and administrative expenses

39,688

17,443

2,390

46,902

89,941

12,322

Research and development expenses

1,241

356

49

5,027

888

122

Total

44,483

20,295

2,780

77,502

91,174

12,491

(1)   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.

(2)   Effective from March 18, 2024, the Company changed its ADS to Class A Ordinary Share ratio from one ADS representing four ordinary shares to one ADS representing twenty ordinary shares. The historical and present income (loss) per ADS have been adjusted retroactively for all periods presented to reflect this change.

 

 

 

YATSEN HOLDING LIMITED

UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands, except for share, per share data or otherwise noted)

For the Three Months Ended December 31,

For the Year Ended December 31,

2023

2024

2024

2023

2024

2024

RMB’000

RMB’000

USD’000

RMB’000

RMB’000

USD’000

Loss from operations

(539,643)

(390,658)

(53,520)

(913,355)

(824,891)

(113,009)

Share-based compensation expenses

44,483

20,295

2,780

77,502

91,174

12,491

Impairment of goodwill

354,039

403,076

55,221

354,039

403,076

55,221

Amortization of intangible assets
resulting from assets and business
acquisitions

15,231

60,447

8,281

54,297

106,385

14,575

Non-GAAP (loss) income from
operations

(125,890)

93,160

12,762

(427,517)

(224,256)

(30,722)

Net loss

(494,526)

(378,804)

(51,897)

(750,227)

(710,221)

(97,299)

Share-based compensation expenses

44,483

20,295

2,780

77,502

91,174

12,491

Impairment of goodwill

354,039

403,076

55,221

354,039

403,076

55,221

Amortization of intangible assets
resulting from assets and business
acquisitions

15,231

60,447

8,281

54,297

106,385

14,575

Revaluation of investments on the
share of equity method investments

(10,337)

7,386

1,012

(22,324)

(10,019)

(1,373)

Tax effects on non-GAAP
adjustments

(2,635)

(5,421)

(743)

(9,356)

(8,644)

(1,184)

Non-GAAP net (loss) income

(93,745)

106,979

14,654

(296,069)

(128,249)

(17,569)

Net loss attributable to Yatsen’s
shareholders

(490,515)

(384,234)

(52,641)

(747,763)

(708,174)

(97,019)

Share-based compensation expenses

44,483

20,295

2,780

77,502

91,174

12,491

Impairment of goodwill

354,039

403,076

55,221

354,039

403,076

55,221

Amortization of intangible assets
resulting from assets and business
acquisitions

14,945

60,079

8,231

53,214

104,853

14,365

Revaluation of investments on the
share of equity method investments

(10,337)

7,386

1,012

(22,324)

(10,019)

(1,373)

Tax effects on non-GAAP
adjustments

(2,635)

(5,393)

(739)

(9,356)

(8,533)

(1,169)

Accretion to redeemable non-
controlling interests

2,975

Non-GAAP net (loss) income
attributable to Yatsen’s
shareholders

(90,020)

101,209

13,864

(291,713)

(127,623)

(17,484)

Shares used in calculating loss per
share:

Weighted average number of Class A
and Class B ordinary shares:

    Basic

2,146,881,745

1,930,413,426

1,930,413,426

2,195,818,231

2,025,072,131

2,025,072,131

    Diluted

2,146,881,745

2,049,750,667

2,049,750,667

2,195,818,231

2,025,072,131

2,025,072,131

Non-GAAP net (loss) income
attributable to ordinary
shareholders per Class A and
Class B ordinary share

    Basic

(0.04)

0.05

0.01

(0.13)

(0.06)

(0.01)

    Diluted

(0.04)

0.05

0.01

(0.13)

(0.06)

(0.01)

Non-GAAP net (loss) income
attributable to ordinary
shareholders per ADS (20
ordinary shares equal to 1 ADS)
(1)

    Basic

(0.84)

1.05

0.14

(2.66)

(1.26)

(0.17)

    Diluted

(0.84)

0.99

0.14

(2.66)

(1.26)

(0.17)

(1)   Effective from March 18, 2024, the Company changed its ADS to Class A Ordinary Share ratio from one ADS representing four ordinary shares to one ADS representing twenty ordinary shares. The historical and present income (loss) per ADS have been adjusted retroactively for all periods presented to reflect this change.

 

HUYA Inc. to Report Fourth Quarter and Fiscal Year 2024 Financial Results on Tuesday, March 18, 2025

-Earnings Webinar Scheduled for 6:00 a.m. ET on March 18, 2025

GUANGZHOU, China, Feb. 25, 2025 /PRNewswire/ — HUYA Inc. (“Huya” or the “Company”) (NYSE: HUYA), a leading game live streaming platform in China, today announced that it will report its fourth quarter and fiscal year 2024 unaudited financial results on Tuesday, March 18, 2025, before the open of U.S. markets.

The Company’s management will host a Tencent Meeting Webinar at 6:00 a.m. U.S. Eastern Time on March 18, 2025 (6:00 p.m. Beijing/Hong Kong time on March 18, 2025), to review and discuss the Company’s business and financial performance.

For participants who wish to join the webinar, please complete the online registration in advance using the links provided below. Upon registration, participants will receive an email with webinar access information, including meeting ID, meeting link, dial-in numbers, and a unique attendee ID to join the webinar.

Participant Online Registration

A live webcast of the webinar will be accessible at https://ir.huya.com, and a replay of the webcast will be available following the session.

[1] For the purpose of this announcement only, Chinese Mainland excludes the Hong Kong Special Administrative Region, the Macao Special Administrative Region of the People’s Republic of China, and Taiwan.

About HUYA Inc.

HUYA Inc. is a leading game live streaming platform in China. As a technology-driven company, Huya offers rich and dynamic content across games, e-sports, and other entertainment genres where it has cultivated a large, highly engaged, interactive, immersive community of game enthusiasts. Building on its success in game live streaming and through close collaboration with game companies, e-sports tournament organizers, broadcasters and talent agencies, Huya is expanding its presence in the game industry, both domestically and internationally. By providing more innovative game-related services, the Company is committed to meeting the evolving needs of game enthusiasts, content creators, and industry partners.

For more information, please visit: https://ir.huya.com.

For investor and media inquiries, please contact:

In China:

HUYA Inc.
Investor Relations
Tel: +86-20-2290-7829
E-mail: ir@huya.com

Piacente Financial Communications
Jenny Cai
Tel: +86-10-6508-0677
E-mail: huya@tpg-ir.com

In the United States:

Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: huya@tpg-ir.com

 

Innovation and technology fuels winter economy in Harbin

BEIJING, Feb. 25, 2025 /PRNewswire/ — A news report from China Daily:

Harbin, capital of Heilongjiang province in Northeast China, has become a popular destination for ice and snow tourism in recent years.

As the city hosted the 9th Asian Winter Games from Feb 7-14, there was a large influx of visitors who enjoyed sightseeing and shopping in Harbin, injecting new vitality into cultural and tourism consumption.

The Pingshan Shenlu Ski Resort, located more than 70 kilometers away from downtown Harbin, attracts enthusiasts who step onto snowboards and speed down the snow-covered trails. The resort manager, Wang Xiaojing, has noted significant changes over the past two years: an increase in visitor numbers and expansions in skiing equipment, attire and instructors.

To attract and cater to young skiers from all over the country, the resort has constructed children’s ski trails and channels, preventing adult beginners from posing a risk to them.

In a factory building within the Harbin Xinyu Intelligent Manufacturing Industrial Park, an intelligent skiing machine weighing more than 6 metric tons is developed and manufactured.

Tian Mingzhu, president of the Harbin Sports Industry Association, said that this machine can help beginners reach an intermediate skiing level in about four sessions.

People ranging from 3-4 years old to 60-70 years old can also safely learn to ski on the machine.

Harbin also scaled new heights culturally and creatively. For instance, the sales volume of augmented reality refrigerator magnets featuring Harbin design elements has exceeded 20 million yuan ($2.76 million).

“Customers can scan the refrigerator magnet with their phones and see exquisite images of Harbin’s four seasons,” said Wang Jing, general manager of Longyue Cultural and Creative Technology, the company that developed the product.

Despite cold weather, many young people queued up in front of a shop named “Zhongqi Shizu” on Central Avenue to purchase traditional Chinese medicine ice cream.

“We combined different traditional Chinese medicines, related food ingredients and probiotic pretreatments, fully releasing the nutritional value of raw materials, which can make the ice cream healthier, and more distinctive in flavor,” said Shen Xiaodi, director of its brand operation.

“Riding on the popularity of the ice and snow season, we will upgrade our products, expand consumer scenarios, and present a richer range of traditional Chinese medicine products to customers,” Shen added.

The 9th Asian Winter Games holds its closing ceremony in Harbin on Feb 14. FENG YONGBIN / CHINA DAILY
The 9th Asian Winter Games holds its closing ceremony in Harbin on Feb 14. FENG YONGBIN / CHINA DAILY

 

Emirates to hold its first ever pilot recruitment roadshow in Macao

DUBAI, UAE  , Feb. 25, 2025  /PRNewswire/ — Emirates, as the international airline based in Dubai, has announced its first series of pilot recruitment roadshows in Macao Special Administrative Region, China to meet the strong surge in customer demand.

The three sessions of upcoming roadshows in Macao will be held at 1pm & 6pm on 6 March and 10am on 7 March. Last year, Emirates announced significant and exciting changes to its pilot recruitment, including higher salaries, new roles, and a radical change to eligibility. Experienced pilots will join Emirates for roles in one of the four programmes: Direct Entry Captains, Accelerated Command, First Officers Type Rated and First Officers Non-Type Rated.

Prior registration is not required, and pilots are only required to attend one of the sessions. At the session, prospective Emirates pilots can find out more about the airline’s recruitment process, available opportunities, training programmes, expected career trajectory, and benefits, as well as speak to pilots currently flying with Emirates. More information can be found at https://www.emiratesgroupcareers.com/pilots/.

Captain Brian Tyrrell, Emirates’ Senior Vice President Fleet, said: “Emirates pilots fly a modern all wide-body fleet to over 148 destinations across the globe. They undergo robust in-house training at Emirates’ cutting-edge training facility and are also based in the safe, vibrant and tech-savvy city of Dubai. Emirates is on a bold growth trajectory, and we look forward to welcoming pilots from Macao come onboard our airline.”

Flying with Emirates

With a network spanning 148 destinations, Emirates pilots have the exciting opportunity to fly to diverse destinations. With the retrofit of an additional 71 Airbus A380s and Boeing 777s, the airline is refreshing the interiors of 191 aircraft in its fleet. The airline’s continuous investment ensures that its pilots fly modern fleet of all wide-body aircraft.

The airline has received its first three A350s, of which it has 65 on order. Emirates is also looking forward to receiving its Boeing 777Xs, of which the airline has 205 on order.

Emirates offers an exciting range of benefits for pilots and their families, including competitive tax-free salary, 42 days of annual leave with annual leave tickets for self and immediate family, company provided accommodation in gated communities, child education allowance, life, medical and dental insurance, deeply discounted travel benefits for the wider family and friends, and more.

Cutting-edge Training Experience

Emirates provides new joiners a robust, evidence- and competency-based in-house training to ease them into their roles. Successful candidates complete training programmes at Emirates’ advanced pilot training facilities in Dubai, which currently houses ten simulators.

Emirates’ new and sophisticated pilot training facility is spread across 63,318 sq. ft. and worth an investment of US$135 million. The facility accommodates six Full Flight Simulator Bays for its A350 and 777X aircraft and will be opening very soon.

Direct Entry Captain

To command Emirates’ highly anticipated A350 fleet of 65 aircraft or A380s. Candidates need a minimum of 7,000 hours of flying experience on multi-crew, multi-engine commercial aircraft.

Accelerated Command Programme

Primarily designed for experienced Airbus and Boeing Captains, who currently command narrow-body aircraft on regional routes and wish to dial up their careers by working with a global airline brand.

Captains with a minimum of 1,000 hours of Airbus fly-by-wire and Boeing experience will join Emirates as First Officers on an enhanced salary package. They are eligible for an accelerated command upgrade after a minimum of 700 flying hours and two successful recurrent checks. Typically, Emirates pilots achieve these milestones in a little over a year as they fly a mix of ultra-long, long- and short-haul routes.

First Officers – non-type rated

Emirates is welcoming First Officers who are non-type rated – mainly those who have experience only on turbo prop or jets. These pilots will now have the opportunity to be fully trained to fly the airline’s all wide-body fleet of 144 Boeing aircraft. First Officers will also be able to fly 205 of the new Boeing 777-Xs when these aircraft enter the fleet.

First Officer

Candidates for First Officer roles must have multi-engine, multi-crew aircraft experience, a valid International Civil Aviation Organization (ICAO) Airline Transport Pilot License (ATPL), and a minimum of 2,000 hours on 20-tonne maximum take-off weight aircraft.

More information about the requirements and benefits of each role can be found here: https://www.emiratesgroupcareers.com/pilots/.

About Emirates

From its global hub in Dubai, Emirates serves customers on six continents, providing high quality air transport services that facilitate tourism and trade. The airline has earned customer recognition for its industry-leading services on the ground and in the sky, delivered by a passionate workforce representing over 140 nations. Emirates operates the world’s largest fleet of wide-body Boeing 777 and Airbus A380 aircraft, offering spacious cabins and iconic inflight features such as its A380 Shower Spa and Onboard Lounge, and its ice inflight entertainment system available in all seats across its fleet, which has topped “best in sky” awards for 17 consecutive years. Emirates is committed to environmentally-responsible operations and focusses on three areas: reducing emissions, consuming responsibly, and protecting wildlife and habitats.