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Jennifer Wu

Research Analyst at Haitong Securities

Jennifer Wu is an Analyst at Haitong Securities specializing in equity research, with a focus on consumer and beauty-related sectors such as companies like Yatsen. She has played a visible role in corporate earnings calls, providing analytical coverage and industry insights for clients and stakeholders. While specific performance metrics and rankings are not publicly available, Jennifer has demonstrated a consistent presence in sector analysis since joining Haitong Securities, with prior experience details and securities registrations not disclosed. Jennifer Wu is recognized for her expertise in company financials and operational expenses within her coverage universe.

Jennifer Wu's questions to Yatsen Holding (YSG) leadership

Question · Q3 2025

Jennifer Wu with Haitong Securities requested insights into Yatsen's expected future expenses, including general and operating expenses, and the company's approach to the increasingly fierce competition in the online channel.

Answer

Jinfeng Huang, Yatsen's CEO, stated that G&A expenses are expected to show operational leverage as total revenue grows, with continuous investment in R&D and branding for brand equity. Regarding online competition, Huang emphasized that Yatsen's growth is driven by past R&D investments and brand building. He believes focusing on robust product lineups, innovation, brand awareness, operational efficiency through product/channel mix, and organizational growth will ensure long-term sustainable growth.

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Question · Q3 2025

Jennifer Wu inquired about Yatsen's expected future expenses, particularly general and operating expenses, and the company's strategy for navigating the increasingly fierce competition in the online channel.

Answer

CEO Jinfeng Huang indicated stable G&A expenses with expected operational leverage as revenue grows. He clarified continued investment in R&D and branding, viewing these as long-term investments. Regarding online competition, Huang stressed focusing on R&D-driven product innovation, brand building, customer focus, and operational efficiency through product and channel mix optimization.

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Fintool

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