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INVESTOR NOTICE Yatsen Holding Limited Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit - YSG

The law firm of Robbins Geller Rudman & Dowd LLP announces that the Yatsen class action lawsuit seeks to represent purchasers of Yatsen Holding Limited (NYSE: YSG): (a) American Depository Shares (“ADSs”) between November 19, 2020 and March 10, 2022, both dates inclusive (the “Class Period”) and who were damaged thereby; and/or (b) ADSs pursuant or traceable to Yatsen’s Registration Statement on Form F-1 and related prospectus on Form 424B4 (collectively, the “Offering Documents”) issued in connection with Yatsen’s November 2020 initial public offering (the “IPO”). Captioned Maeshiro v. Yatsen Holding Limited, No. 22-cv-08165 (S.D.N.Y.), the Yatsen class action lawsuit charges Yatsen, certain of its top executive officers and directors, the IPO’s underwriter, and others with violations of the Securities Act of 1933 and/or Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the Yatsen class action lawsuit, please provide your information here:

https://www.rgrdlaw.com/cases-yatsen-holding-limited-class-action-laws ...

You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at jsanchez@rgrdlaw.com. Lead plaintiff motions for the Yatsen class action lawsuit must be filed with the court no later than November 22, 2022.

CASE ALLEGATIONS: Yatsen is a China-based holding company engaged in the production and sale of cosmetics and skincare products. On November 19, 2020, Yatsen filed the final prospectus for Yatsen’s IPO, making available approximately 58.75 million ADSs to the investing public at $10.50 per ADS.

The Yatsen class action lawsuit alleges that defendants misled investors into believing that Yatsen’s two largest and historically most significant brands, Perfect Diary and Little Ondine, were thriving, thereby driving Yatsen’s “healthy” top-line growth at the time of its IPO and quarter after quarter thereafter. In truth, however, cosmetic and skincare sales of Perfect Diary and Little Ondine products were declining in the period leading up to (and including at the time of) the IPO, and continued to decline throughout 2021.

On August 26, 2021, during the second quarter of 2021 analyst call, Yatsen’s Chairman, Founder, and CEO, defendant Jinfeng Huang, admitted that Yatsen’s Perfect Diary business was (and had been) deteriorating, requiring Yatsen to “refocus and also to devote more resources to continue the growth trend of [Yatsen’s] main brands.” According to Huang, Yatsen had “move[d] too fast to reallocate [Yatsen’s] talent into the skincare BU.” On August 26, 2021, the price of Yatsen ADSs declined more than 17%.

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INVESTOR NOTICE Yatsen Holding Limited Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit - YSG The law firm of Robbins Geller Rudman & Dowd LLP announces that the Yatsen class action lawsuit seeks to represent purchasers of Yatsen Holding Limited (NYSE: YSG): (a) American Depository Shares (“ADSs”) between November 19, 2020 and March 10, …

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