Cosmetics-Maker Yatsen Has an Ugly Fourth Quarter

What’s new: Chinese beauty company Yatsen Holding Ltd., best known for its budget cosmetics brand Perfect Diary, has reported its ever first drop in quarterly revenue.

For the fourth quarter of 2021, New York-listed Yatsen saw its revenue fall 22.1% year-on-year to 1.53 billion yuan ($242 million), though its net losses narrowed 69% to 475 million yuan, according to financial results published Thursday.