Yatsen Results Presentation Deck

GAAP Operating Expenses Fulfillment exp S&M exp 92.4% 11.9% 72.1% 6.4% 1Q2021 GAAP Operating Expenses 1.9% G&A exp 103.5% 23.4% 67.9% 8.3% 1Q2022 R&D exp 4.0% Operating exp as % of net revenue 13

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