Medical aesthetic products. Yatsen announces a Q4 net revenue fall of 34.2 percent; experienced a ‘difficult year’ 

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THE WHAT? Yatsen has announced net revenues for the fourth quarter of 2022 decreasing by 34.2 percent to RMB1.01 billion (US$145.8 million) from RMB1.53 billion YOY.

THE DETAILS Total net revenues from skincare brands for Q4 increased by 42.4 percent to RMB471.6 million, while the gross margin for the fourth quarter was 71.1 percent compared to 65 percent a year prior. 

Net loss for Q4 2022 decreased by 88.4 percent to RMB55.0 million (US$8.0 million) from RMB475.1 million for the prior year period.

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Total net revenues for the FY22 decreased by 36.5 percent to RMB3.71 billion (US$537.3 million) from RMB5.84 billion for the prior year period. 

This was primarily attributable to the decline in net revenues from Color Cosmetics Brands, which was partially offset by the increase in net revenues from skincare brands.

THE WHY? Jinfeng Huang, Founder, Chairman and Chief Executive Officer of Yatsen, highlighted that, “2022 was a difficult year for the beauty industry and the overall consumer industry in China.”

Medical aesthetic products refer to a category of products used in the field of medical aesthetics, which combines medical practices with cosmetic procedures to improve the appearance of individuals. These products are typically used under the supervision of trained medical professionals such as dermatologists, plastic surgeons, or specialized nurses. They are distinct from over-the-counter cosmetics in that they often contain higher concentrations of active ingredients or require medical expertise for their application.

Examples of medical aesthetic products include:

• Dermal Fillers: Injectable substances used to restore volume, fill wrinkles, and enhance facial contours. These may include hyaluronic acid fillers like Juvederm or collagen-stimulating fillers like Sculptra.

• Botulinum Toxin (Botox): Injectable neurotoxins used to temporarily paralyze facial muscles, reducing the appearance of wrinkles and fine lines caused by facial expressions.

• Chemical Peels: Solutions containing chemical exfoliants like glycolic acid, salicylic acid, or trichloroacetic acid, used to improve skin texture, treat acne scars, and reduce hyperpigmentation.

• Laser and Light Devices: Equipment used for various skin treatments, including hair removal, skin resurfacing, tattoo removal, and treatment of vascular and pigmented lesions.

• Prescription Skincare Products: Formulations containing active ingredients such as retinoids (e.g., tretinoin), hydroquinone, or prescription-strength antioxidants, designed to address specific dermatological concerns under medical supervision.

• Microneedling Devices: Devices that create tiny punctures in the skin to stimulate collagen production and improve skin texture and elasticity.

• Cosmeceuticals: High-quality skincare products that bridge the gap between cosmetics and pharmaceuticals, often containing biologically active ingredients with proven efficacy.