Jinfeng Huang

“So finally, I am delighted to share a leadership update. Effective today, Ms. Wang Li has been appointed as CO's Chief Financial Officer. Ms. Wang comes with a proven child record of over 50 years in the consumer and beauty industry, most recently serving as CFO of Porya Cosmetics.”

“Hello, everyone, and thank you for joining our first quarter, Going into this year, we delivered top line growth that met our period guidance range and demonstrated ongoing resilience of our multi-brand strategy.”

“I will start with a Marko overview and our key financial performance, followed by an overview of our operational highlights under our key strategy initiatives over the past year.”

“The beauty market in China continues to show signs of recovery in the third quarter, particularly in the skincare category, which remained robust and supported overall industry growth.”

“Thank you, Irene, and thank you, everyone, for joining Yatsen's Second Quarter 2025 Earnings Conference Call today. I will begin with a brief macro overview and a summary of our financial results, followed by an update on how our R&D-driven initiatives have supported the healthy development of our brand portfolio.”