Yatsen Filed 2022 Annual Report on Form 20-F

GUANGZHOU,China,April 26,2023 --Yatsen Holding Limited ("Yatsen" or the "Company") (NYSE: YSG),a leading Chinese beauty company,today announced that the Company has filed its annual report on Form 20-F for the fiscal year ended December 31,2022 with the U.S. Securities and Exchange Commission ("SEC") on April 26,2023.

The annual report is available on the Company's investor relations website at ir.yatsenglobal.comand on the SEC's website at https://www.sec.gov/. The Company will provide hard copies of the annual report,free of charge,to its shareholders and ADS holders upon written request. Requests should be directed to Investor Relations Department,Yatsen Holding Limited,Building No. 35,Art Port International Creation Center,No. 2519 Xingang East Road,Haizhu District,Guangzhou 510330,People's Republic of China.

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

The Piacente Group,Inc.

Hui Fan

Tel: +86-10-6508-0677

E-mail: yatsen@thepiacentegroup.com

In the United States:

The Piacente Group,Inc.

Brandi Piacente

Tel: +1-212-481-2050

E-mail: yatsen@thepiacentegroup.com