GUANGZHOU, China, April 11,
2024 /PRNewswire/ -- Yatsen Holding Limited ("Yatsen"
or the "Company") (NYSE: YSG), a leading China-based beauty group, today announced that
it has received a letter from the New York Stock Exchange ("NYSE")
dated April 10, 2024 (the "April
Letter"), notifying the Company that it has regained compliance
with the NYSE's continued listing criterion of a minimum share
price as set forth in Section 802.01C of the NYSE Listed Company
Manual (the "NYSE Minimum Price Continued Listing Criterion").
As previously announced, the Company received a letter from the
NYSE dated November 2, 2023,
notifying the Company that it was below compliance standards due to
the average closing price of the Company's American depositary
shares being less than $1.00 for a
consecutive 30 trading-day period. Following the receipt of the
April Letter, the Company is no longer considered below the NYSE
Minimum Price Continued Listing Criterion and has regained
compliance regarding this matter.
Safe Harbor Statement
This announcement contains statements that may constitute
"forward-looking" statements which are made pursuant to the "safe
harbor" provisions of the U.S. Private Securities Litigation Reform
Act of 1995. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "aims,"
"future," "intends," "plans," "believes," "estimates," "likely to,"
and similar statements. The Company may also make written or oral
forward-looking statements in its periodic reports to the
Securities and Exchange Commission ("SEC"), in its annual report to
shareholders, in press releases and other written materials and in
oral statements made by its officers, directors or employees to
third parties. Statements that are not historical facts, including
statements about the Company's beliefs, plans, outlook and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, which include but not
limited to the following: the Company's growth strategies; its
future business development, results of operations and financial
condition; its ability to continue to roll out popular products and
maintain popularity of existing products; its ability to anticipate
and respond to changes in industry trends and consumer preferences
and behavior in a timely manner; its ability to attract and retain
new customers and to increase revenues generated from repeat
customers; its expectations regarding demand for and market
acceptance of its products and services; its ability to integrate
newly-acquired businesses and brands; trends and competition in and
relevant government policies and regulations relating to
China's beauty market; changes in
its revenues and certain cost or expense items; and general
economic conditions globally and in China. Further information regarding these and
other risks is included in the Company's filings with the SEC. All
information provided in this press release is as of the date of
this press release, and the Company does not undertake any
obligation to update any forward-looking statement, except as
required under applicable law.
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, Abby's Choice, Galénic, DR.WU
(its mainland China business),
Eve Lom, Pink Bear and
EANTiM. The Company's flagship brand, Perfect Diary, is
one of the leading color cosmetics brands in China in 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
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SOURCE Yatsen Holding Limited