Company Announcements

Initial Investment of Over RMB 80 Million Marks a New Era of Innovation for the Company

SHANGHAI , June 5, 2024 /PRNewswire/ -- On May 28, Yatsen Group, the parent company of Perfect Diary, held the grand opening of the new Global Innovation R&D Center ("the Center") in Shanghai. As the first¹ global innovation R&D center for domestic beauty companies, it received an initial investment exceeding RMB 80 million (US$ 11 million), and spans approximately 4,000 square meters. The new Global Innovation Center will further strengthen Yatsen Group's research and development capabilities.

Present at the opening ceremony were Huang Jinfeng, Founder, Chairman, and CEO of Yatsen Group, Cheng Jing, Chief Science Officer, as well as other partners and industry experts.

Coming all the way from Brazil, the Chairman of the 34th IFSCC, Ms. Vania Leite, noted that China's cosmetic industry has been developing rapidly over the past decade. More Chinese cosmetic brands have made a place in the IFSCC, which is known as the "Nobel of Cosmetics." She acknowledged Yatsen Group's research achievements over the past few years, having submitted high-quality papers and receiving multiple awards. She also mentioned looking forward to establishing a stable and long-term cooperative relationship with Yatsen to jointly promote the development of the global and Chinese cosmetic industry.

Raising the standards for cosmetic innovation and R&D, Yatsen has designed and established a leading first-class environment in China. The Yatsen Global Innovation R&D Center boasts a number of comprehensive scientific research laboratories featuring cutting-edge technologies, formulation, analytical laboratory, microbiology, as well as sensory, clinical, packaging, a neuroscience pilot scale-up laboratory, and more, allowing the management of the whole-chain R&D with international "top-grade" equipment.

Sophisticated equipment sourced from across the globe has been introduced into the Center, including a confocal laser scanning microscope (CLSM), flow cytometer, multi-mode microplate reader, facial analysis imaging system, and more. Together totaling more than 300 cutting-edge instruments and pieces of equipment.

Empowered by the Group's transnational development strategy in the global market, in addition to high levels of investment in facilities, the Center has attracted outstanding R&D talent from all over the world to develop a first-class research team. Introducing the talent pool, Cheng Jing, Chief Scientific Officer noted, "Around 50% of the team have at least a master's degree and above, and seven of them are PhDs. Also, most of the R&D managers have experience in managing the R&D teams of leading international cosmetic companies."

Yatsen's R&D team has continuously pushed the boundaries of scientific research by formulating innovative strategies. They have created an independent whole-industry-chain R&D technology system, integrating cutting-edge research, safety of innovative raw materials and formulas, sensory and clinical research, and green packaging research.

After a year and a half since the design launched in 2022, the Center is now officially completed and operated in Shanghai. This not only sets a new milestone for Yatsen Group in terms of scientific research and innovation, but also puts the Group's global R&D capabilities firmly on the map, next to the Toulouse R&D Center in France and the Guangzhou R&D Center, marking the next step in the "Yatsen Technology Road" plan.

Under the guidance of a "1-3-4-6-20" technology strategy system, the Center will accelerate the integration of global R&D resources and promote the research and development of innovative technologies. The transformative results will continue to empower Perfect Diary and other brands, improving product performance and innovation.

With the successful establishment of the Center, Perfect Diary can now leverage a complete R&D ecosystem from cutting-edge technological research to advanced manufacturing. As a new generation of professional cosmetics, the Perfect Diary brand has been committed to scientific research and innovation for many years.

At the opening ceremony, the hi-tech "Hall of Future Experience" impressed attendees with the scientific and technological achievements as part of Perfect Diary's vision to the "Integration of Makeup and Skincare".

Now, the brand-new concept of "Integration of Makeup and Skincare" is driving innovations that lead the development of the beauty industry to broader applications with great commercial value. Perfect Diary will utilize cutting-edge resources inside and outside the industry to continue exploring the "Integration of Makeup and Skincare", taking the lead with professional innovation and plans for long-term growth.

As an important step of Yatsen Group in scientific research and innovation, the successful completion of the Center will strongly promote scientific research and innovation in products of Perfect Diary and other brands, pushing the domestic beauty industry towards high-quality development. Yatsen will continue to explore and lead China's beauty with its achievements in science-powered makeup and skincare integration technology.

Speaking at the opening ceremony, Huang Jinfeng, Founder, Chairman, and CEO of Yatsen Group, noted, "Moving forward we will continue to adhere to the founding principles; to be rooted in science, technology, research, and development. We will also deepen our cooperation with renowned international research institutes, colleges and universities, and hospitals at home and abroad, building the Yatsen Global Innovation R&D Center into a platform for the future of domestic beauty products, bringing higher-quality beauty products to consumers."

View original content to download multimedia:https://www.prnewswire.com/news-releases/perfect-diarys-parent-company-yatsen-group-officially-unveils-global-innovation-and-rd-center-302164150.html

SOURCE Yatsen Global