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TangibleFuture’s AI Desktop Robot LOOI to Launch New “Starlight White” on Aug. 21

SHERIDAN, Wyo., Aug. 21, 2025 /PRNewswire/ — LOOI, the AI desktop robot developed by TangibleFuture, today announced its highly anticipated new color variant: “Starlight White”. Building on the global success of the black edition of LOOI, this new “Starlight White” version introduces a bold, avant-garde design that seamlessly integrates technology, companionship, and personal expression to deliver an entirely new user experience. This is not merely a color update, but a profound exploration of the product’s design philosophy.

LOOI Starlight White is now available.
LOOI Starlight White is now available.

LOOI has achieved a breakthrough in desktop-level scene perception through its “Perception-Decision-Action” biomimetic behavior system based on multi-modal perception. It can precisely recognize facial expressions, gestures, and object layouts, while initiating proactive environmental interactions. In May 2024, Musk’s comment on LOOI “Pass the butter” demonstration on X sparked over 120 million shares across related discussions and content, rapidly propelling LOOI into global visibility. The product has since been widely recognized by the industry as the landmark that ushered in the inaugural year of “scene perception” for desktop robotics—a milestone signaling the evolution of robots from mere “tools” to collaborative “partners.”

LOOI can interact and communicate with people naturally.
LOOI can interact and communicate with people naturally.

Gray Zhang, CEO of TangibleFuture, stated:

In an era where AI serves as universal infrastructure, LOOI empowers ordinary users to engage with frontier technology through intuitive, human-centric interactions. As an experiment dedicated to the future, it pioneers exploration of whether carbon-based and silicon-based beings can co-create civilization’s next chapter.

About TangibleFuture

TangibleFuture believe that sci-fi should not be confined to the virtual world. We aim to create real-life experiences that meet the imagination of every Inventor, Explorer, and Inner child.

Since the launch of the LOOI product in 2024, it has received engagement from Elon Musk and has been widely covered by leading Chinese media outlets such as CYZone, 36Kr, Jiemian News, GeekPark, and FounderPark. In early 2025, LOOI attracted significant attention at CES 2025 and was named one of the seven coolest products of the year.

For more information, please visit the official website at https://looirobot.com/.

CONTACT: Arya Chen, aryachen46@gmail.com

Yatsen Announces Second Quarter 2025 Financial Results

Conference Call to Be Held at 7:30 A.M. U.S. Eastern Time on August 21, 2025

GUANGZHOU, China, Aug. 21, 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 second quarter ended June 30, 2025.

Second Quarter 2025 Highlights

  • Total net revenues for the second quarter of 2025 increased by 36.8% to RMB1.09 billion (US$151.7 million) from RMB794.5 million for the prior year period.
  • Total net revenues from Skincare Brands[1] for the second quarter of 2025 increased by 78.7% to RMB581.3 million (US$81.1 million) from RMB325.2 million for the prior year period. As a percentage of total net revenues, total net revenues from Skincare Brands for the second quarter of 2025 were 53.5%, as compared with 40.9% for the prior year period.
  • Gross margin for the second quarter of 2025 increased to 78.3% from 76.7% for the prior year period.
  • Net loss for the second quarter of 2025 narrowed by 77.2% to RMB19.5 million (US$2.7 million) from RMB85.5 million for the prior year period. Non-GAAP net income[2] for the second quarter of 2025 was RMB11.5 million (US1.6 million), as compared with non-GAAP net loss of RMB74.9 million for the prior year period.

Mr. Jinfeng Huang, Founder, Chairman and Chief Executive Officer of Yatsen, stated, “With the vision of becoming a world-class pioneer in beauty innovation, we remained focused in the second quarter of 2025 on executing our strategy to deliver high-quality products and build strong brand equity, fueled by our enhanced R&D capabilities. Key products including Galénic’s Brightening Micro Mask, DR.WU’s Purifying Renewal Essence Toner, and Perfect Diary’s Translucent Blurring Setting Powder contributed to our continued growth momentum. Looking ahead, we are committed to the disciplined execution of our R&D-driven strategy, which we believe will further strengthen our position in the beauty industry.”

Mr. Donghao Yang, Director and Chief Financial Officer of Yatsen, commented, “We delivered solid year-over-year growth in the second quarter, leveraging the tailwind of the June 18 shopping festival. Specifically, our color cosmetics brands have returned to a growth trajectory, while our skincare brands maintained strong performance. As operating leverage began to take effect, coupled with our efforts to improve efficiency in our operations and marketing spend, we remain on track to achieve profitable growth.”

Second Quarter 2025 Financial Results

Net Revenues

Total net revenues for the second quarter of 2025 increased by 36.8% to RMB1.09 billion (US$151.7 million) from RMB794.5 million for the prior year period. The increase was primarily due to a 78.7% year-over-year increase in net revenues from Skincare Brands, combined with an 8.8% year-over-year increase in net revenues from Color Cosmetics Brands.[3]

Gross Profit and Gross Margin

Gross profit for the second quarter of 2025 increased by 39.5% to RMB850.4 million (US$118.7 million) from RMB609.4 million for the prior year period. Gross margin for the second quarter of 2025 increased to 78.3% from 76.7% 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 second quarter of 2025 increased by 21.7% to RMB905.9 million (US$126.5 million) from RMB744.6 million for the prior year period. As a percentage of total net revenues, total operating expenses for the second quarter of 2025 were 83.4%, as compared with 93.7% for the prior year period.

  • Fulfillment Expenses. Fulfillment expenses for the second quarter of 2025 were RMB63.3 million (US$8.8 million), as compared with RMB51.2 million for the prior year period. As a percentage of total net revenues, fulfillment expenses for the second quarter of 2025 decreased to 5.8% from 6.4% for the prior year period. The decrease was primarily due to further improvements in logistics efficiency.
  • Selling and Marketing Expenses. Selling and marketing expenses for the second quarter of 2025 were RMB722.4 million (US$100.8 million), as compared with RMB544.7 million for the prior year period. As a percentage of total net revenues, selling and marketing expenses for the second quarter of 2025 decreased to 66.5% from 68.6% for the prior year period. The decrease was primarily driven by the leveraging effect of higher total net revenues in the second quarter of 2025.
  • General and Administrative Expenses. General and administrative expenses for the second quarter of 2025 were RMB84.1 million (US$11.7 million), as compared with RMB119.1 million for the prior year period. As a percentage of total net revenues, general and administrative expenses for the second quarter of 2025 decreased to 7.7% from 15.0% for the prior year period. The decrease was primarily driven by lower payroll expenses resulting from a reduction in general and administrative headcount, coupled with the leveraging effect of higher total net revenues in the second quarter of 2025.
  • Research and Development Expenses. Research and development expenses for the second quarter of 2025 were RMB36.1 million (US$5.0 million), as compared with RMB29.7 million for the prior year period. As a percentage of total net revenues, research and development expenses for the second quarter of 2025 decreased to 3.3% from 3.7% for the prior year period. The decrease was primarily driven by the leveraging effect of higher total net revenues in the second quarter of 2025.

Loss from Operations

Loss from operations for the second quarter of 2025 was RMB55.5 million (US$7.7 million), as compared with RMB135.2 million for the prior year period. Operating loss margin was 5.1%, as compared with 17.0% for the prior year period.

Non-GAAP loss from operations[4] for the second quarter of 2025 was RMB20.4 million (US$2.8 million), as compared with RMB111.9 million for the prior year period. Non-GAAP operating loss margin[5] was 1.9%, as compared with 14.1% for the prior year period.

Net Loss / Income

Net loss for the second quarter of 2025 was RMB19.5 million (US$2.7 million), as compared with RMB85.5 million for the prior year period. Net loss margin was 1.8%, as compared with 10.8% for the prior year period. Net loss attributable to Yatsen’s ordinary shareholders per diluted ADS[6] for the second quarter of 2025 was RMB0.19 (US$0.03), as compared with RMB0.77 for the prior year period.

Non-GAAP net income for the second quarter of 2025 was RMB11.5 million (US$1.6 million), as compared with non-GAAP net loss of RMB74.9 million for the prior year period. Non-GAAP net income margin was 1.1%, as compared with non-GAAP net loss margin of 9.4% for the prior year period. Non-GAAP net income attributable to Yatsen’s ordinary shareholders per diluted ADS[7] for the second quarter of 2025 was RMB0.13 (US$0.02), as compared with non-GAAP net loss attributable to Yatsen’s ordinary shareholders per diluted ADS of RMB0.67 for the prior year period.

Balance Sheet and Cash Flow

As of June 30, 2025, the Company had cash, restricted cash and short-term investments of RMB1.35 billion (US$188.6 million), as compared with RMB1.36 billion as of December 31, 2024.

Net cash generated from operating activities for the second quarter of 2025 was RMB77.7 million (US$10.8 million), as compared with net cash used in operating activities of RMB148.2 million for the prior year period.

Business Outlook

For the third quarter of 2025, the Company expects its total net revenues to be between RMB778.6 million and RMB880.1 million, representing a year-over-year increase of approximately 15% to 30%. 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 RMB7.1636 to US$1.00, the exchange rate in effect as of June 30, 2025, as set forth in the H.10 statistical release of The Board of Governors of the Federal Reserve System. The Company makes no representation that any RMB or US$ 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] Include Perfect Diary, Little Ondine, Pink Bear and other color cosmetics brands of the Company.

[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.

[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.

[6] ADS refers to American depositary shares, each of which represents twenty Class A ordinary shares.

[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.

Conference Call Information

The Company’s management will hold a conference call on Thursday, August 21, 2025, at 7:30 A.M. U.S. Eastern Time or 7:30 P.M. Beijing Time to discuss its financial results and operating performance for the second quarter of 2025.

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

The replay will be accessible through Thursday, August 28, by dialing the following numbers:

United States:

+1-877-344-7529

International:

+1-412-317-0088

Replay Access Code:

6410660

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:

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

 

 

YATSEN HOLDING LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

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

December 31,

June 30,

June 30,

2024

2025

2025

RMB’000

RMB’000

USD’000

Assets

Current assets

Cash and cash equivalents

817,395

953,535

133,108

Restricted cash

47,048

6,568

Short-term investments

539,130

350,771

48,966

Accounts receivable, net

214,558

224,902

31,395

Inventories, net

386,054

392,323

54,766

Prepayments and other current assets

381,404

403,308

56,300

Amounts due from related parties

9,113

2,553

356

Total current assets

2,347,654

2,374,440

331,459

Non-current assets

Investments

664,579

662,961

92,546

Property and equipment, net

74,373

67,181

9,378

Goodwill, net

155,029

155,029

21,641

Intangible assets, net

559,708

579,729

80,927

Deferred tax assets

1,381

1,495

209

Right-of-use assets, net

147,501

177,681

24,803

Other non-current assets

20,642

24,744

3,454

Total non-current assets

1,623,213

1,668,820

232,958

Total assets

3,970,867

4,043,260

564,417

Liabilities, redeemable non-controlling interests and shareholders’ equity

Current liabilities

Accounts and notes payable

72,090

148,184

20,686

Advances from customers

19,574

18,987

2,650

Accrued expenses and other liabilities

460,143

384,315

53,648

Amounts due to related parties

28,884

41,171

5,747

Income tax payables

20,088

17,103

2,387

Lease liabilities due within one year

39,409

48,694

6,797

Total current liabilities

640,188

658,454

91,915

Non-current liabilities

Deferred tax liabilities

103,306

108,661

15,168

Deferred income-non current

14,832

6,714

937

Lease liabilities

109,526

130,517

18,219

Total non-current liabilities

227,664

245,892

34,324

Total liabilities

867,852

904,346

126,239

Redeemable non-controlling interests

50,984

47,787

6,671

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, 2024
and June 30, 2025; 2,096,600,883 Class A shares and 600,572,880 Class B ordinary shares
issued as of December 31, 2024 and June 30, 2025; 1,234,627,468 Class A ordinary shares
and 600,572,880 Class B ordinary shares outstanding as of December 31, 2024,
1,276,392,603 Class A ordinary shares and 600,572,880 Class B ordinary shares
outstanding as of June 30, 2025)

173

173

24

Treasury shares

(1,276,330)

(1,246,804)

(174,047)

Additional paid-in capital

12,273,767

12,279,628

1,714,170

Statutory reserve

28,147

28,147

3,929

Accumulated deficit

(8,057,297)

(8,080,268)

(1,127,962)

Accumulated other comprehensive income

86,866

112,454

15,701

Total Yatsen Holding Limited shareholders’ equity

3,055,326

3,093,330

431,815

Non-controlling interests

(3,295)

(2,203)

(308)

Total shareholders’ equity

3,052,031

3,091,127

431,507

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

3,970,867

4,043,260

564,417

 

 

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 June 30,

For the Six Months Ended June 30,

2024

2025

2025

2024

2025

2025

RMB’000

RMB’000

USD’000

RMB’000

RMB’000

USD’000

Total net revenues

794,521

1,086,732

151,702

1,567,876

1,920,265

268,059

Total cost of revenues

(185,102)

(236,335)

(32,991)

(357,509)

(410,741)

(57,337)

Gross profit

609,419

850,397

118,711

1,210,367

1,509,524

210,722

Operating expenses:

Fulfilment expenses

(51,163)

(63,288)

(8,835)

(102,611)

(115,131)

(16,072)

Selling and marketing expenses

(544,659)

(722,405)

(100,844)

(1,083,852)

(1,276,220)

(178,153)

General and administrative expenses

(119,106)

(84,072)

(11,736)

(259,205)

(148,955)

(20,793)

Research and development expenses

(29,678)

(36,116)

(5,042)

(57,604)

(58,753)

(8,202)

Total operating expenses

(744,606)

(905,881)

(126,457)

(1,503,272)

(1,599,059)

(223,220)

Loss from operations

(135,187)

(55,484)

(7,746)

(292,905)

(89,535)

(12,498)

Financial income

28,829

11,467

1,601

57,441

22,073

3,081

Foreign currency exchange (loss) gain

(3,462)

5,507

769

(11,095)

16,171

2,257

Income from equity method investments, net

12,724

877

122

16,000

3,382

472

Other income, net

13,191

17,395

2,428

19,496

21,637

3,020

Loss before income tax expenses

(83,905)

(20,238)

(2,826)

(211,063)

(26,272)

(3,668)

Income tax (expenses) benefits

(1,589)

763

107

702

1,196

167

Net loss

(85,494)

(19,475)

(2,719)

(210,361)

(25,076)

(3,501)

Net loss attributable to non-controlling interests and redeemable non-controlling interests

7,220

1,807

252

7,488

2,105

294

Net loss attributable to Yatsen’s shareholders

(78,274)

(17,668)

(2,467)

(202,873)

(22,971)

(3,207)

Shares used in calculating loss per share (1):

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

   Basic

2,043,644,209

1,854,988,850

1,854,988,850

2,092,400,120

1,846,275,864

1,861,746,795

    Diluted

2,043,644,209

1,854,988,850

1,854,988,850

2,092,400,120

1,846,275,864

1,861,746,795

Net loss per Class A and Class B ordinary share

   Basic

(0.04)

(0.01)

(0.00)

(0.10)

(0.01)

(0.00)

    Diluted

(0.04)

(0.01)

(0.00)

(0.10)

(0.01)

(0.00)

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

   Basic

(0.77)

(0.19)

(0.03)

(1.94)

(0.25)

(0.03)

    Diluted

(0.77)

(0.19)

(0.03)

(1.94)

(0.25)

(0.03)

For the Three Months Ended June 30,

For the Six Months Ended June 30,

2024

2025

2025

2024

2025

2025

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 (income) expenses

(178)

93

13

(102)

191

27

Selling and marketing (income) expenses

(7,246)

1,795

251

(4,590)

2,552

356

General and administrative expenses

17,128

20,638

2,881

48,755

28,369

3,960

Research and development (income) expenses

(1,549)

1,429

199

(231)

1,469

205

Total

8,155

23,955

3,344

43,832

32,581

4,548

(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.

 

 

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 June 30,

For the Six Months Ended June 30,

2024

2025

2025

2024

2025

2025

RMB’000

RMB’000

USD’000

RMB’000

RMB’000

USD’000

Loss from operations

(135,187)

(55,484)

(7,746)

(292,905)

(89,535)

(12,498)

Share-based compensation expenses

8,155

23,955

3,344

43,832

32,581

4,548

Amortization of intangible assets
resulting from assets and business
acquisitions

15,103

11,147

1,556

30,159

21,708

3,030

Non-GAAP loss from operations

(111,929)

(20,382)

(2,846)

(218,914)

(35,246)

(4,920)

Net loss

(85,494)

(19,475)

(2,719)

(210,361)

(25,076)

(3,501)

Share-based compensation expenses

8,155

23,955

3,344

43,832

32,581

4,548

Amortization of intangible assets
resulting from assets and business
acquisitions

15,103

11,147

1,556

30,159

21,708

3,030

Revaluation of investments on the
share of equity method investments

(13,632)

(3,141)

(438)

(20,671)

(9,151)

(1,277)

Tax effects on non-GAAP
adjustments

983

(991)

(138)

(1,637)

(1,424)

(199)

Non-GAAP net (loss) income

(74,885)

11,495

1,605

(158,678)

18,638

2,601

Net loss attributable to Yatsen’s
shareholders

(78,274)

(17,668)

(2,467)

(202,873)

(22,971)

(3,207)

Share-based compensation expenses

8,155

23,955

3,344

43,832

32,581

4,548

Amortization of intangible assets
resulting from assets and business
acquisitions

14,607

10,743

1,500

29,389

20,922

2,921

Revaluation of investments on the
share of equity method investments

(13,632)

(3,141)

(438)

(20,671)

(9,151)

(1,277)

Tax effects on non-GAAP
adjustments

1,039

(963)

(134)

(1,581)

(1,368)

(191)

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

(68,105)

12,926

1,805

(151,904)

20,013

2,794

Shares used in calculating loss per
share:

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

    Basic

2,043,644,209

1,854,988,850

1,854,988,850

2,092,400,120

1,846,275,864

1,861,746,795

    Diluted

2,043,644,209

1,998,882,473

1,998,882,473

2,092,400,120

1,980,640,851

1,995,977,934

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

    Basic

(0.03)

0.01

0.00

(0.07)

0.01

0.00

    Diluted

(0.03)

0.01

0.00

(0.07)

0.01

0.00

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

    Basic

(0.67)

0.14

0.02

(1.45)

0.22

0.03

    Diluted

(0.67)

0.13

0.02

(1.45)

0.20

0.03

 

 

 

TÜV Rheinland Hong Kong Showcases Battery Expertise at The Battery Show Asia 2025

HONG KONG, Aug. 21, 2025 /PRNewswire/ — TÜV Rheinland Hong Kong, a leading testing, inspection, and certification organization, marked its inaugural participation in The Battery Show Asia 2025, held from July 15 to 17 at AsiaWorld-Expo. As Asia’s premier event for advanced battery technologies, the exhibition attracted more than 350 international exhibitors and over 15,000 professionals from across the energy storage, mobility, and electronics sectors.

TÜV Rheinland Hong Kong Showcases Battery Expertise at The Battery Show Asia 2025
TÜV Rheinland Hong Kong Showcases Battery Expertise at The Battery Show Asia 2025

At the event, TÜV Rheinland presented its comprehensive battery service portfolio, designed to support the entire battery value chain—from raw materials to end-use applications. Visitors explored TÜV Rheinland’s capabilities in facilitating compliance with the EU Battery Regulation (2023/1542), conducting greenhouse gas (GHG) emissions assessments, life cycle assessments (LCA), and environmental product declarations (EPD). The company also highlighted its services in responsible sourcing, recycled material verification, and sustainability certifications such as the Alliance for Water Stewardship (AWS) and Aluminium Stewardship Initiative (ASI).

TÜV Rheinland at The Battery Show Asia reflects our commitment to helping the battery industry navigate increasingly complex regulatory landscapes while promoting sustainable innovation. We support battery manufacturers, OEMs, and energy solution providers with globally recognized testing, and certification services. As the global push toward clean energy accelerates, TÜV Rheinland remains a trusted technical partner in advancing safety, sustainability, and regulatory compliance across the battery industry.

Ultimea Launches Skywave X70, A Professional-Grade Surround Sound System

RANCHO CUCAMONGA, Calif., Aug. 21, 2025 /PRNewswire/ — Ultimea proudly unveils the Skywave X70—a fully wireless 7.1.4 Dolby Atmos® home theater system that combines cinema-grade precision with thunderous bass down to 20Hz, setting a new benchmark for immersive sound at home.

Skywave X70 Soundbar
Skywave X70 Soundbar

Powered by a 10-inch subwoofer and Gravus ultra-linear bass technology, it plunges to ultra-low frequencies with zero distortion, creating room-shaking impact that transforms every movie, song, and game into an immersive, cinematic experience. Dual 5GHz wireless transmission ensures rock-solid, interference-free connectivity with latency under 20ms. The plug-and-play wireless setup eliminates cable clutter without sacrificing audio quality.

At the heart of the system, the NEURACORE neural-level processing engine combines a triple-core DSP and dual-core MCU to run 10+ advanced audio algorithms in real time. This enables studio-accurate sound tuning, heightened clarity, and an immersive surround experience for movies, music, and gaming.

The system is powered by GaN amplifier technology, offering 8x faster transient response and up to 98% efficiency while reducing heat by 40–50% compared to traditional silicon amplifiers. The result is high-fidelity, distortion-free sound at any listening level, with safer, more stable performance over extended use.

Designed with the home in mind, the Skywave X70’s sleek aesthetic integrates seamlessly into any interior. With its three-piece modular structure and other innovative solution, the Skywave X70 significantly reduces production costs without compromising a single note of audio quality, bringing premium, cinema-grade sound to more homes at an accessible price.

“Our goal with the Skywave X70 was simple—make the kind of audio experience you’d expect from professional cinema systems accessible to every home,” said Bob, Ultimea’s founder. “It’s the ultimate fusion of engineering innovation, modern design, and user-friendly setup.”

The Ultimea Skywave X70, alongside three other models in the Skywave X series, is expected to launch in mid-September 2025. Customers who register via the official website can unlock up to 42% OFF during the pre-sale period.

Learn more and lock in the lowest launch price by registering at

ULTIMEA US

ULTIMEA EU

About Ultimea

Ultimea is committed to making high-end home entertainment accessible to everyone. By blending advanced engineering, modern aesthetics, and cost innovation, Ultimea creates products that deliver cinema-grade experiences without the complexity or high cost. Trusted in over 100 regions worldwide, Ultimea continues to challenge the norm and raise expectations for home audio-visual systems.

Yunlin Offshore Wind Farm Officially Begins Commercial Operation

  • The Yunlin Offshore Wind Farm has begun commercial operation at its design capacity of 640MW.
  • The project’s 80 wind turbine generators lift Taiwan’s installed total offshore wind capacity above 3.9 GW.
  • Enough clean energy to power over 600,000 Taiwanese households annually.

HAMBURG, GERMANY – EQS Newswire – 21 August 2025 – Yunneng Wind Power Co., Ltd. (Yunneng) announced today that the Yunlin Offshore Wind Farm (OWF) has officially entered full commercial operation. The 640 MW OWF, consisting out of 80 fully grid-connected wind turbine generators (WTGs), has successfully secured all required electricity business licenses, has met all mandatory regulatory aspects and has fulfilled all applicable contractual obligations under the financing agreement. This achievement marks a significant milestone as one of Taiwan’s largest OWFs transitions into its operations and maintenance (O&M) phase.

Photo

Yunneng is a joint venture of Skyborn Renewables, TotalEnergies, Electricity Generating Public Company Limited (EGCO Group) and Sojitz Corporation. With the start of the commercial operation, TotalEnergies will take the lead of the technical operations management, while Skyborn will continue to oversee other management services. The Yunlin OWF achieved full grid connection in January 2025 and provides green energy to over 600,000 Taiwanese homes annually. With a capacity of 2,400 Gigawatt hours (GWh), and meeting 90% of Yunlin County’s non-industrial electricity needs, the Yunlin OWF will also reduce CO2 emissions by approximately 1,200,000 t per year.

“The Yunlin OWF was awarded its grid connection capacity in 2018 and has since progressed towards COD. Throughout this journey, the project has established new models of collaboration with local suppliers and financing of green energy projects in Taiwan. It has also embraced environmental protection and community engagement. We extend our heartfelt thanks to the collective efforts of the project team, the sponsors and lenders, the contractors, as well as to the unwavering support of the Taiwanese government. This landmark offshore wind farm will continue to dedicate its commitment to achieve operational excellence over the next 30 years,” said Xian-Shuen (XS), Chairperson of Yunneng.

The Yunlin OWF is located in the Taiwan Strait, between 8 and 17 km off the west coast of Taiwan, at water depths from 7 up to 35 m. The 82 km² project area comprises 80 WTGs, whose generated electricity is fed into the Taiwanese power grid via two onshore substations near the townships of Taixi and Sihu in Yunlin County. Electricity from the project is provided to Taiwan Power Company (TPC) under two 20-year power purchase agreements. The project is backed by a strong financial consortium established in 2019, including Taiwanese and international banks alongside export credit agencies.

This press release and press photos are available here.
Hashtag: #Skyborn

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

About Skyborn Renewables (Skyborn)

Skyborn is an accomplished offshore wind developer and operator with more than 20 years’ experience, headquartered in Germany. The company’s capabilities cover the entire offshore wind value chain, including greenfield development, project engineering and design, procurement, financing, corporate power purchase agreements, construction management and asset management. Skyborn is a portfolio company of New York based Global Infrastructure Partners (GIP), a leading infrastructure investor and part of BlackRock.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.

TotalEnergies is building a competitive portfolio that combines renewables (solar, onshore wind, offshore wind) and flexible assets (CCGT, storage) to deliver clean firm power to its customers.

As of the end of March 2025, TotalEnergies has 28 GW of installed gross renewable electricity generation capacity and aims to reach 35 GW by the end of 2025, and more than 100 TWh of net electricity production by 2030.

TotalEnergies’ portfolio in offshore wind has a total capacity of 23 GW, with most farms bottom-fixed. These projects are located in the United Kingdom (Seagreen, Outer Dowsing, West of Orkney, Erebus), South Korea (Bada), Taiwan (Yunlin, Haiding 2), France (Eolmed), the United States (Attentive Energy and Carolina Long Bay), in the Netherlands (OranjeWind), in Germany (Nordsee Energies 1 & 2, Ostsee Energies, WindBostel Ost and West).

About Electricity Generating Public Company Limited (EGCO Group)

EGCO Group is the first Independent Power Producer in Thailand. The company currently has a total equity capacity over 6,600 MWe in operation and under construction. Total equity capacity from renewable energy is over 1,400 MWe. The renewable energy portfolio includes biomass, hydropower, solar power, onshore and offshore wind power, fuel cells, and battery storage. EGCO Group’s facilities and other projects are located in seven countries, namely Thailand, Lao PDR, the Philippines, Indonesia, South Korea, Taiwan and USA. In addition to the power business, EGCO Group has also 11 other energy-related businesses including the fuel and infrastructure business group and the customer solution and startup business group. EGCO Group has been listed in the Dow Jones Sustainability Index (DJSI) for the 5th year in a row (2020-2024). Learn more about EGCO Group through our website at or on social media at .

About Sojitz Corporation (Sojitz)

Sojitz is a major investment and trading firm in Japan developing wide range of businesses globally, including manufacturing, selling, importing, and exporting a variety of products, in addition to providing services and investing in a multitude of countries and regions through approximately 400 consolidated subsidiaries and affiliated companies located in Japan and overseas. Sojitz operates with a 7-division structure comprising the Automotive Division; the Aerospace, Transportation & Infrastructure Division; the Energy Solutions & Healthcare Division; the Metals, Mineral Resources & Recycling Division; the Chemicals Division; the Consumer Industry & Agriculture Business Division, and the Retail & Consumer Service Division. Especially, the Energy Solutions & Healthcare Division is tasked with advancing its Key Sustainability Issues (Materiality) of “Environment: Contribute to the global environment through our businesses” and “Resources: Develop, supply, and use sustainable resources.”

GEEKOM Unveils A9 Max Mini PC with Ryzen AI 9 HX370 and Cutting-edge AI Capabilities

TAIPEI, Aug. 21, 2025 /PRNewswire/ — GEEKOM, a world-renowned tech company in the compact computing space, has officially launched its latest flagship mini PC, the GEEKOM A9 Max, setting a new benchmark for design, performance, AI, and connectivity in the small form factor PC market.

At the heart of the A9 Max lies the AMD Ryzen AI 9 HX370, one of AMD’s most advanced mobile processors to date. Built on the cutting-edge Zen 5 architecture, the HX370 chip integrates a dedicated Ryzen AI engine and supports 80 TOPS of total AI performance, enabling real-time AI workloads such as intelligent noise cancellation, facial recognition, and accelerated content creation. This chip marks a significant leap in on-device AI processing, making the A9 Max ideal for developers, creators, and professionals seeking cutting-edge AI performance without relying on cloud services.

Complementing the CPU and NPU is the new Radeon 890M iGPU, which delivers stunning graphics performance for gaming, 3D rendering, and video editing. With RDNA 3.5 architecture, the 890M rivals entry-level discrete GPUs, offering smooth 1080p gaming and hardware-accelerated ray tracing—all within a sleek metallic chassis that fits in the palm of your hand.

The A9 Max also comes with dual PCIe4.0*4 SSD slots, allowing users to configure ultra-fast storage arrays for demanding workflows. Paired with 32GB dual-channel DDR5 SO-DIMM RAM, the system ensures lightning-fast data access and multitasking capabilities, making it a powerhouse for both productivity and entertainment.

Connectivity is another standout feature. Dual USB4 ports enable high-speed data transfer, external GPU support, and up to 8K display output, while dual 2.5Gbps Ethernet ports and Wi-Fi 7 ensure ultra-low latency and multi-gigabit speeds across both wired and wireless connections – ideal for streaming, gaming, and remote collaboration.

This A9 Max’s premium metallic chassis also offers exceptional resilience while adding a touch of sleek sophistication to any environment, elevating your workspace from ordinary to extraordinary with its aura of quality and elegance.

With its potent combination of AI and graphical prowess, the A9 Max is designed for gamers requiring high frame rates and content creators needing AI acceleration. It’s now available globally through GEEKOM’s official website and Amazon Store. For just $999, you’ll receive a fully equipped unit featuring 32GB of blazing-fast DDR5 RAM, a spacious 2TB PCIe Gen4 SSD, and premium after-sales support—including a 3-year limited warranty and 24/7 online assistance.

SKF’s new brand identity recognized with two awards in prestigious design competition

GOTHENBURG, Sweden, Aug. 21, 2025 /PRNewswire/ — During the spring, SKF, together with the design agency NORD ID at NORD DDB, launched an updated brand identity. That update has now earned a rare double win in the internationally renowned Red Dot Design Award. “Red Dot is an international mark of excellence in design and business,” says Daniel Sjöstrand, Head of Brand at SKF.

SKF and NORD ID have been recognized with two Red Dot awards for SKF’s refreshed identity – marking their first-ever double win. The honors include one award for the SKF Display font and the coveted ‘Best of the Best’ for the entire brand update. The Red Dot Design Award is considered one of the world’s largest and most respected competitions celebrating outstanding design, with winners selected through a rigorous process that recognizes only the most exceptional work.

“We started this journey to become even more SKF, with a visual expression that matches our history, knowledge, and the value we bring to the world. The result is a bold identity that reflects our hundred-year history of innovation while also pushing for the future we envision. To now have it recognized with two Red Dot awards is a great testament to that,” says Daniel Sjöstrand, Head of Brand at SKF.

For over a century, SKF has been a leader in products and solutions that reduce friction. The new brand strategy, also developed with NORD DDB, builds on this legacy to close the gap between SKF’s global impact and public perception, emphasizing innovation, sustainability, and industry leadership. Inspired by the brand’s 117-year-old logo, originally hand-painted by an employee and celebrated as a pioneer in design circles (“SKF’s logo – a milestone in commercial design”), the refreshed brand identity further highlights SKF’s innovative heritage with a great emphasis on movement.

“We were struck by how SKF’s 1908 logo felt both modern and progressive. Its magnetism feels as visionary today as a century ago. Rather than create something new, we optimized it for the digital age—preserving its character while expanding it into a complete typeface. The result is an identity that reflects SKF’s renewed image while ensuring its heritage and strong personality will continue to thrive,” says Martin Andersson, Design Director at NORD ID.

The new identity immediately created excitement in the design/business/industry-communities after being launched during 2025.

“The updated brand reflects the business SKF has become, helping the company to further stand out in the industry, attract more customers, and drive profitable growth. From a business perspective, we are building favourability among current and potential customers, employees, investors, partners, and beyond,” says Per Nilsson, Director Group Communication, SKF.

The award ceremony takes place on November 7th later this year at the Konzerthaus in Berlin, Germany. 

About the Red Dot Design Award:

To appraise the diversity in the field of design in a professional manner, the award breaks down into three disciplines: the Red Dot Award: Product Design, Red Dot Award: Brands & Communication Design and Red Dot Award: Design Concept. Each competition is organised once every year.

Source: https://www.red-dot.org/about-red-dot/red-dot-award

About SKF new identity

SKF, one of Sweden’s largest industrial companies and global bearing manufacturers, has giving the brand a little TLC in the shape of an update to better emphasise its core expertise in innovation and optimise its identity for digital contexts. In collaboration with the design agency NORD ID at NORD DDB, SKF has returned to its visionary beginnings, mining its original logo, created in 1908, for inspiration.

SKF future-proofing its identity – by reinvigorating a 117-year-old logo | SKF

Aktiebolaget SKF
   (publ)

For further information, please contact:
Press Relations: Karin Markhede, PR-manager, +46 707 58 87 30; karin.markhede@skf.com 

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/skf/r/skf-s-new-brand-identity-recognized-with-two-awards-in-prestigious-design-competition,c4221057

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The Business Show Asia 2025 Set to Inspire, Connect, and Transform Businesses

SINGAPORE, Aug. 21, 2025 /PRNewswire/ — Building on the remarkable success of The Business Show Asia 2024, we are delighted to announce its prestigious return to Singapore. Join us on the 27th and 28th of August as Asia’s foremost business event unfolds at the world-class Sands Expo & Convention Centre, Marina Bay Sands.

Following a highly successful 2024 edition at the Sands Expo, where over 8,000 business leaders gathered to connect, learn and grow, we are proud to return with this distinguished event once again. The Business Show Asia will continue to serve as a premier platform for entrepreneurs, startups and established professionals to access the insights, resources and inspiration needed to launch, scale and thrive in today’s competitive landscape.

What to Expect at The Business Show Asia 2025:

  1. Inspiring Keynote Speakers
     The Business Show Asia 2025 will feature an exceptional lineup of visionary keynote speakers and industry leaders. Attendees will gain valuable insights on entrepreneurship, innovation, digital transformation, leadership and more, delivered by some of the most influential voices in business.
  2. Strategic and Practical Masterclasses
     Our agenda includes a series of interactive masterclasses led by experienced professionals. These sessions will cover essential topics such as scaling a startup, financial planning and business growth, providing attendees with practical strategies they can apply right away.
  3. Innovative Exhibitor Showcase
     The exhibition hall will host over 250 top-tier exhibitors showcasing the latest in business technology, marketing tools and operational solutions. It is the ideal space to discover products and services that help businesses operate more efficiently and competitively.
  4. Valuable Networking Opportunities
     The Business Show Asia goes beyond learning by fostering meaningful connections. With dedicated networking zones and Speed Networking sessions, attendees can meet potential partners, clients, mentors and collaborators who can help elevate their business journey.

Riding the Wave of Success: Highlights from 2024

The 2024 edition of The Business Show Asia was an outstanding success. From the vibrant atmosphere across the exhibition floor to impactful keynotes delivered by leaders from Google, Microsoft, and PayPal, the event became a launchpad for new ideas and transformative growth. Attendees immersed themselves in expert-led masterclasses on business expansion, digital transformation, and leadership. Countless professionals walked away with valuable insights and connections that proved essential to their business journey.

The Future Starts Here: Asia 2025

The Business Show Asia 2025 is set to return bigger, bolder, and more influential. Whether you are an aspiring entrepreneur or an established executive, this event offers a powerful platform to unlock strategies, explore innovations, and build meaningful partnerships. With engaging seminars, hands-on masterclasses, top-tier exhibitors, and endless networking potential, this is the ultimate destination for anyone serious about scaling their business.

Mark Your Calendar

Join us on 27 and 28 August 2025 at the Sands Expo & Convention Centre in Singapore for two inspiring days of learning, innovation, and connection.

Registration is now open, so secure your spot and get ready to be part of Asia’s leading business event. We look forward to welcoming you.

Tickets are free to attend! Click here to register.

About The Business Show

Business Show Media is the global event organizer behind The Business Show series celebrating over 25 years of empowering entrepreneurs, SMEs, and startups around the world. With a proven track record of producing more than 44 editions across cities including London, Miami, Las Vegas, Australia, and Asia.

As Asia’s leading business event, The Business Show Asia brings together thousands of business owners and founders in Singapore. It offers access to cutting-edge tools, industry-leading speakers, masterclasses, and networking opportunities making it the region’s must-attend growth event.

Media Contact

Samuel King

Managing Director

Email: marketing@singaporebusinessshow.sg 

Phone (Singapore): +65 8371 6847