Yatsen Holding Limited (NYSE:YSG) Q4 2022 Earnings Conference Call March 8, 2023 7:30 AM ET

Company Participants

Irene Lyu - Investor Relations

Jinfeng Huang - Founder, Chairman and Chief Executive Officer

Donghao Yang - Chief Financial Officer

Conference Call Participants

Dustin Wei - Morgan Stanley

Qianye Lin - CICC

Devin Weinstein - Raymond James

Operator

Ladies and gentlemen, good day, and welcome to the Yatsen Fourth Quarter and Full Year 2022 Earnings Conference Call. [Operator Instructions] At this time, I would like to turn the conference over to Irene Lyu, Vice President, Head of Strategic Investments and Capital Markets. Please go ahead.

Irene Lyu

Thank you, operator. Please note the discussion today will contain forward-looking statements relating to the company’s future performance and are intended to qualify for the Safe Harbor from liability as established by the U.S. Private Securities Litigation Reform Act. Such statements are not guarantees of future performance and are subject to certain risks and uncertainties, assumptions and other factors. Some of these risks are beyond the company’s control and could cause actual results to differ materially from those mentioned in today’s press release and this discussion. A general discussion of the risk factors that could affect Yatsen’s business and financial results is included in certain filings of the company with the Securities and Exchange Commission. The company does not undertake any obligation to update this forward-looking information, except as required by law. During today’s call, management will also discuss certain non-GAAP financial measures for comparison purposes only. Please see the earnings release issued earlier today for a definition of non-GAAP financial measures and a reconciliation of GAAP to non-GAAP financial results.

Joining us today on the call from Yatsen’s senior management are Mr. Jinfeng Huang, our Founder, Chairman, and CEO; and Mr. Donghao Yang, our CFO and Director. Management will begin with prepared remarks, and the call will conclude with a QA session. As a reminder, this conference is being recorded. In addition, a webcast replay of this conference call will be available on Yatsen’s Investor Relations website at ir.yatsenglobal.com.

I will now turn the call over to Mr. Jinfeng Huang. Please go ahead, sir.

Jinfeng Huang

Thank you, Irene, and thank you, everyone for participating in Yatsen’s fourth quarter and full year 2022 earnings conference call today. 2022 was a year of transformation for Yatsen. Early in the year, we launched our new 5-year strategy plan with an eye towards long-term sustainable growth and began refining our product category mix – channel mix and the business model accordingly. This road map guided our steps amid the myriad of challenges in 2023, including the recurrent COVID-19 outbreak and the related lockdowns.