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Lucia Zhang

Research Analyst at CP Securities

Lucia Zhang is an equity research analyst at CP Securities, specializing in technology and consumer sectors with a focus on Greater China markets. She provides company coverage on firms such as Tencent, Alibaba, and Meituan, consistently offering in-depth analysis that has resonated with institutional investors. Beginning her career at a leading local boutique advisory in 2016 before joining CP Securities in 2019, Zhang has rapidly established a reputation for well-crafted models and actionable investment insights. She holds a CFA charter and is registered with the Securities Association of China, underpinning her professional credibility and market expertise.

Lucia Zhang's questions to Yatsen Holding (YSG) leadership

Question · Q3 2025

Lucia Zhang from CP Securities asked about Yatsen's strategies to sustain the rapid growth of its skincare business in the last quarter and next year, and the key areas for continuous profitability improvement.

Answer

Jinfeng Huang, Yatsen's CEO, identified R&D and product innovation, expansion of the skincare portfolio, driving brand awareness and customer base growth for existing brands, and channel expansion as key drivers for sustainable skincare growth. For profitability, he highlighted product and channel mix optimization, focusing on customer lifetime value (CIM) and product link sales for better marketing ROI, and leveraging branding expenses as brand revenue scales.

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Question · Q3 2025

Lucia Zhang asked about Yatsen's strategies to sustain rapid growth in its skincare business for the upcoming quarter and year, and the key initiatives for continuous profitability improvement.

Answer

CEO Jinfeng Huang outlined R&D and product innovation, portfolio expansion, driving brand awareness, and channel mix optimization as key drivers for skincare growth. For profitability, he emphasized product and channel mix optimization, improved customer lifetime value (CIM) for better marketing ROI, and leveraging branding expenses as revenue scales.

Ask follow-up questions

Fintool

Fintool can write a report on Yatsen Holding logo YSG's next earnings in your company's style and formatting