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Exhibit 99.1 Yatsen Reports Second Quarter 2021 Financial Results Conference Call to Be Held at 7:30 A.M. U.S. Eastern Time on August 26 , 2021 GUANGZHOU , China , August 26 , 2021 - Yatsen Holding Limited ( “ Yatsen ” or the “ Company ” ) ( NYSE : YSG ) , a leading Chinese beauty company , today announced its unaudited financial results for the second quarter ended June 30 , 2021 . Second Quarter 2021 Highlights Total net revenues for the second quarter of 2021 increased by 53.5 % to RMB1.53 billion ( US $ 236.2 million ) from RMB993.2 million in the prior year period . Gross margin for the second quarter of 2021 was 65.7 % compared to 61.1 % in the prior year period . Gross sales1 for the second quarter of 2021 increased by 48.7 % to RMB1.71 billion ( US $ 265.4 million ) from RMB1.15 billion in the prior year period . The number of Direct - to - Consumer ( " DTC " ) customers² for the second quarter of 2021 increased by 13.3 % to 10.2 million from 9.0 million in the prior year period . Average net revenue per DTC customer3 for the second quarter of 2021 increased by 17.6 % to RMB116.7 from RMB99.2 in the prior year period . Mr. Jinfeng Huang , founder , Chairman and Chief Executive Officer of Yatsen , said , “ We are pleased with our performance in the second quarter , driven by customer growth stemming from our flagship brand Perfect Diary and newly incubated and acquired brands such as Pink Bear , Galénic , DR . WU , and Eve Lom . As our color cosmetics and skincare brands resonate more and more with consumers , we are confident and firmly committed to further boosting our market share among Gen - Z , Gen - A and an expanding group of luxury consumers , and transforming Yatsen into a flourishing global multi - brand beauty group . We will continue to invest in R & D and technological capabilities as innovation and creativity remain the hallmarks of our brand . We believe this , along with our user - centric value proposition , will continue to drive our future success . " Mr. Donghao Yang , Director and Chief Financial Officer of Yatsen , commented , " We achieved another quarter of strong growth , with revenues growing by 53.5 % year - over - year and reaching RMB1.53 billion . With increased revenues and an improved product mix , our second - quarter gross margin rose to 65.7 % from 61.1 % in the same period last year . Notably , our efforts to optimize our ROI on marketing expenses yielded encouraging results , leading to lower operating expenses and a subsequent improvement to our bottom line . Our non - GAAP net loss margin decreased to 12.8 % from 17.4 % in the same period last year . Looking ahead , 1 2 3 Gross sales refers to the total value of all orders for products and services placed and shipped , regardless of whether the goods are returned . Calculation of gross sales includes shipping charges paid by customers to the Company . DTC customers refer to the customers that have placed one or more orders purchasing products through the Company's DTC channels , including the Company's online stores on third- party e - commerce platforms , the Company's channels on Weixin and experience stores , during the relevant periods , if such products were shipped , but regardless of whether or not the customer returned the products . This number does not include the number of customers placing orders through the Company's third - party e - commerce platform distributors including JD.com and Vipshop and certain DTC channels where such data is yet to be available to the Company . Average net revenue per DTC customer is calculated as total net revenues generated by DTC customers from DTC channels , including our online stores operated on e - commerce platforms , our company channels on Weixin and our experience stores , divided by the total number of DTC customers in the relevant period . For the quarters ended June 30 , 2020 and June 30 , 2021 , our total net revenues generated from DTC channels were RMB892.6 million and RMB1.19 billion , respectively . Total number of DTC customers for the three months ended June 30 , 2021 did not include customers of certain DTC channels as such data is yet to be available to the Company . As a result , the average net revenue per DTC customer for the three months ended June 30 , 2021 did not take into account revenues generated from such channels .