GUANGZHOU,China,Sept. 6,2024 -- Yatsen Holding Limited ("Yatsen" or the "Company"),a leading China-based beauty group,today announced the publication of its 2023 Environmental,Social and Governance Report ("ESG") report for the third consecutive year. The report underscores Yatsen's approach and achievements in implementing ESG initiatives across various dimensions in 2023,while providing insights into future goals.

Yatsen retained its MSCI ESG Rating of A in 2023,once again earning notable recognition from MSCI,a leading provider of critical decision support tools and services for the global investment community. Among other significant achievements,Yatsen outperformed industry averages in key areas,including product packaging and waste management,product carbon footprint,and chemical safety,demonstrating excellence in green and low-carbon initiatives.

Mr. Jinfeng Huang,Founder,Chairman and Chief Executive Officer of Yatsen,stated: "We are very proud to be the highest-rated company in the Chinese beauty industry by MSCI and the only beauty company in China to achieve an MSCI A Rating for two consecutive years. Along with our strong commitment to green and low-carbon practices,we have continued to strengthen our R&D and innovation capabilities. In 2023,our R&D investment reached 3.3% of total net revenues,positioning us among the global leaders in R&D spending. Furthermore,we established a cutting-edge beauty factory and three independent R&D centers,and introduced numerous technological innovations and applications as part of our vigorous pursuit of 'Yatsen's Road of Science and Technology,' which has garnered wide market recognition. Looking ahead,we will continue to prioritize our business while maintaining commercial integrity to foster a sustainable future."

To view the report in full,please visit the ESG section on the Yatsen Investor Relations website. Click here for the English version and here for the Chinese version of the 2023 report.

About Yatsen Holding Limited

Yatsen Holding Limited (NYSE: YSG) is a leading China-based beauty group with the mission of creating an exciting new journey of beauty discovery for consumers around the world. Founded in 2016,the Company has launched and acquired numerous color cosmetics and skincare brands including Perfect Diary,Little Ondine,Pink Bear,Galénic,DR.WU (its mainland Chinabusiness),Eve Lom and EANTiM. The Company's flagship brand,Perfect Diary,is one of the leading color cosmetics brands in Chinain terms of retail sales value. The Company primarily reaches and engages with customers directly both online and offline,with expansive presence across all major e-commerce,social and content platforms in China.

For more information,please visit http://ir.yatsenglobal.com.

For investor and media inquiries,please contact:

In China:

Yatsen Holding Limited

Investor Relations

E-mail: ir@yatsenglobal.com

Piacente Financial Communications

Hui Fan

Tel: +86-10-6508-0677

E-mail: yatsen@thepiacentegroup.com

In the United States:

Piacente Financial Communications

Brandi Piacente

Tel: +1-212-481-2050

E-mail: yatsen@thepiacentegroup.com