Yatsen Holding Limited (YSG) 20-F22 Apr 222021 FY Annual report (foreign)Financial data

Company Profile

Document and Entity Information

Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2021shares
Document Information [Line Items]
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Registrant Name	Yatsen Holding Limited
Entity Central Index Key	0001819580
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Interactive Data Current	No
Entity File Number	001-39703
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	Building No. 35, Art Port International Creation Center
Entity Address, Address Line Two	No. 2519 Xingang East Road, Haizhu District
Entity Address, City or Town	Guangzhou
Entity Address, Country	CN
Entity Address, Postal Zip Code	510330
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Registration Statement	false
ICFR Auditor Attestation Flag	true
Document Accounting Standard	U.S. GAAP
Auditor Firm ID	1424
Auditor Name	PricewaterhouseCoopers Zhong Tian LLP
Auditor Location	Guangzhou, the People’s Republic of China
Business Contact
Document Information [Line Items]
Entity Address, Address Line One	Building No. 35, Art Port International Creation Center,
Entity Address, Address Line Two	No. 2519 Xingang East Road, Haizhu District
Entity Address, City or Town	Guangzhou
Entity Address, Country	CN
Entity Address, Postal Zip Code	510330
Contact Personnel Name	Donghao Yang
City Area Code	+86
Local Phone Number	20-3837 3543
Class A Ordinary Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	1,938,303,919
Title of 12(b) Security	Class A ordinary shares, par value US$0.00001 per share
Security Exchange Name	NYSE
No Trading Symbol Flag	true
Class B Ordinary Shares
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	758,869,844
American Depositary Shares
Document Information [Line Items]
Title of 12(b) Security	American Depositary Shares, each representing four Class A ordinary shares, par value US$$0.00001 per share
Trading Symbol	YSG
Security Exchange Name	NYSE

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS ¥ in Thousands, $ in Thousands	Dec. 31, 2021CNY (¥)	Dec. 31, 2021USD ($)	Dec. 31, 2020CNY (¥)
Current assets
Cash and cash equivalents	¥ 3,138,008	$ 492,422	¥ 5,727,029
Restricted cash			6,363
Accounts receivable	355,837	55,839	419,317
Inventories, net	695,761	109,180	616,808
Prepayments and other current assets	366,191	57,463	304,641
Amounts due from related parties	60	9	14,370
Total current assets	4,555,857	714,913	7,088,528
Non-current assets
Investments	350,380	54,982	34,862
Property and equipment, net	245,314	38,495	285,297
Goodwill	869,421	136,431	20,596
Intangible assets, net	745,851	117,040	189,090
Deferred tax assets	2,000	314	597
Right-of-use assets, net	422,966	66,373	536,710
Other non-current assets	80,220	12,588	152,058
Total non-current assets	2,716,152	426,223	1,219,210
Total assets	7,272,009	1,141,136	8,307,738
Current liabilities
Accounts payable (including accounts payable of the consolidated VIEs without recourse to the Group of RMB 6,892 and RMB 11,765 as of December 31, 2020 and 2021, respectively)	240,815	37,789	466,705
Advances from customers (including advances from customers of the consolidated VIEs without recourse to the Group of RMB 6,156 and RMB 14,262 as of December 31, 2020 and 2021, respectively)	20,680	3,245	6,228
Accrued expenses and other liabilities (including accrued expenses and other liabilities of the consolidated VIEs without recourse to the Group of RMB 42,874 and RMB 18,727 as of December 31, 2020 and 2021, respectively)	370,531	58,142	411,944
Amounts due to related parties	13,967	2,192	11,814
Income tax payables (including income tax payables of the consolidated VIEs without recourse to the Group of RMB 929 and RMB 1,005 as of December 31, 2020 and 2021, respectively)	16,747	2,628	18,686
Lease liabilities due within one year (including lease liabilities of the consolidated VIEs without recourse to the Group of nil and RMB 74 as of December 31, 2020 and 2021, respectively)	214,843	33,714	215,300
Total current liabilities	877,583	137,710	1,130,677
Non-current liabilities
Deferred tax liabilities	124,450	19,529	1,557
Deferred income	56,180	8,816
Lease liabilities (including lease liabilities of the consolidated VIEs without recourse to the Group of nil and RMB 78 as of December 31, 2020 and 2021, respectively)	206,303	32,373	311,910
Total non-current liabilities	386,933	60,718	313,467
Total liabilities	1,264,516	198,428	1,444,144
Commitments and contingencies
Redeemable non-controlling interests	338,587	53,132
Shareholders’ equity (deficit)
Ordinary shares	173	27	173
Treasury shares	(22,330)	(3,504)	(12)
Additional paid-in capital	11,697,942	1,835,662	11,165,697
Statutory reserves	21,352	3,351	20,051
Accumulated deficit	(5,782,169)	(907,348)	(4,240,134)
Accumulated other comprehensive loss	(255,780)	(40,137)	(97,265)
Total Yatsen Holding Limited shareholders' equity	5,659,188	888,051	6,848,510
Non-controlling interests	9,718	1,525	15,084
Total shareholders' equity	5,668,906	889,576	6,863,594
Total liabilities, redeemable non-controlling interests and shareholders' equity	¥ 7,272,009	$ 1,141,136	¥ 8,307,738

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) ¥ in Thousands, $ in Thousands	Dec. 31, 2021CNY (¥)shares	Dec. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2020CNY (¥)shares
Accounts payable (including accounts payable of the consolidated VIEs without recourse to the Group of RMB 6,892 and RMB 11,765 as of December 31, 2020 and 2021, respectively)	¥ 240,815	$ 37,789	¥ 466,705
Advances from customers (including advances from customers of the consolidated VIEs without recourse to the Group of RMB 6,156 and RMB 14,262 as of December 31, 2020 and 2021, respectively)	20,680	3,245	6,228
Accrued expenses and other liabilities (including accrued expenses and other liabilities of the consolidated VIEs without recourse to the Group of RMB 42,874 and RMB 18,727 as of December 31, 2020 and 2021, respectively)	370,531	58,142	411,944
Income tax payables (including income tax payables of the consolidated VIEs without recourse to the Group of RMB 929 and RMB 1,005 as of December 31, 2020 and 2021, respectively)	16,747	2,628	18,686
Lease liabilities due within one year (including lease liabilities of the consolidated VIEs without recourse to the Group of nil and RMB 74 as of December 31, 2020 and 2021, respectively)	214,843	33,714	215,300
Lease liabilities (including lease liabilities of the consolidated VIEs without recourse to the Group of nil and RMB 78 as of December 31, 2020 and 2021, respectively)	¥ 206,303	$ 32,373	¥ 311,910
Common stock, par value \| $ / shares		$ 0.00001
Common stock, shares authorized \| shares	10,000,000,000	10,000,000,000	10,000,000,000
Common stock, shares designated \| shares	3,039,147,394	3,039,147,394	3,039,147,394
Variable Interest Entity Primary Beneficiary
Accounts payable (including accounts payable of the consolidated VIEs without recourse to the Group of RMB 6,892 and RMB 11,765 as of December 31, 2020 and 2021, respectively)	¥ 11,765		¥ 6,892
Advances from customers (including advances from customers of the consolidated VIEs without recourse to the Group of RMB 6,156 and RMB 14,262 as of December 31, 2020 and 2021, respectively)	14,262		6,156
Income tax payables (including income tax payables of the consolidated VIEs without recourse to the Group of RMB 929 and RMB 1,005 as of December 31, 2020 and 2021, respectively)	1,005		929
Lease liabilities due within one year (including lease liabilities of the consolidated VIEs without recourse to the Group of nil and RMB 74 as of December 31, 2020 and 2021, respectively)	74
Lease liabilities (including lease liabilities of the consolidated VIEs without recourse to the Group of nil and RMB 78 as of December 31, 2020 and 2021, respectively)	78
Variable Interest Entity Primary Beneficiary \| Without Recourse
Accounts payable (including accounts payable of the consolidated VIEs without recourse to the Group of RMB 6,892 and RMB 11,765 as of December 31, 2020 and 2021, respectively)	11,765		6,892
Advances from customers (including advances from customers of the consolidated VIEs without recourse to the Group of RMB 6,156 and RMB 14,262 as of December 31, 2020 and 2021, respectively)	14,262		6,156
Accrued expenses and other liabilities (including accrued expenses and other liabilities of the consolidated VIEs without recourse to the Group of RMB 42,874 and RMB 18,727 as of December 31, 2020 and 2021, respectively)	18,727		42,874
Income tax payables (including income tax payables of the consolidated VIEs without recourse to the Group of RMB 929 and RMB 1,005 as of December 31, 2020 and 2021, respectively)	1,005		929
Lease liabilities due within one year (including lease liabilities of the consolidated VIEs without recourse to the Group of nil and RMB 74 as of December 31, 2020 and 2021, respectively)	74
Lease liabilities (including lease liabilities of the consolidated VIEs without recourse to the Group of nil and RMB 78 as of December 31, 2020 and 2021, respectively)	¥ 78
Class A Ordinary Shares
Common stock, shares authorized \| shares	6,000,000,000	6,000,000,000	6,000,000,000
Common stock, shares issued \| shares	1,938,303,919	1,938,303,919	1,736,321,157
Common stock, shares outstanding \| shares	1,789,239,887	1,789,239,887	1,586,957,585
Class B Ordinary Shares
Common stock, shares authorized \| shares	960,852,606	960,852,606	960,852,606
Common stock, shares issued \| shares	758,869,844	758,869,844	960,852,606
Common stock, shares outstanding \| shares	737,513,429	737,513,429	939,496,191

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021CNY (¥)¥ / sharesshares	Dec. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2020CNY (¥)¥ / sharesshares	Dec. 31, 2019CNY (¥)¥ / sharesshares
Income Statement [Abstract]
Total net revenues	¥ 5,839,973	$ 916,419	¥ 5,233,170	¥ 3,031,167
Total cost of revenues	(1,941,177)	(304,613)	(1,869,145)	(1,103,509)
Gross profit	3,898,796	611,806	3,364,025	1,927,658
Operating expenses:
Fulfilment expenses	(434,018)	(68,107)	(425,052)	(300,122)
Selling and marketing expenses	(4,005,589)	(628,564)	(3,412,159)	(1,251,270)
General and administrative expenses	(941,347)	(147,718)	(2,142,973)	(209,326)
Research and development expenses	(142,086)	(22,296)	(66,512)	(23,179)
Total operating expenses	(5,523,040)	(866,685)	(6,046,696)	(1,783,897)
Income (loss) from operations	(1,624,244)	(254,879)	(2,682,671)	143,761
Financial income	45,658	7,165	14,313	5,320
Foreign currency exchange losses	(1,751)	(275)	(2,774)	(62)
Income (loss) from equity method investments, net	5,978	938	(293)
Impairment loss of investments	(1,375)	(216)
Other non-operating income (expenses)	27,775	4,359	(10,020)	(1,684)
Income (loss) before income tax expenses	(1,547,959)	(242,908)	(2,681,445)	147,335
Income tax (expenses) benefit	921	145	(6,970)	(71,976)
Net income (loss)	(1,547,038)	(242,763)	(2,688,415)	75,359
Less: Net income (loss) attributable to non-controlling interests and redeemable non-controlling interests	(6,304)	(989)	(608)
Net income (loss) attributable to the Yatsen Holding Limited's shareholders	(1,540,734)	(241,774)	(2,687,807)	75,359
Accretion to preferred shares \| ¥			(242,209)	(59,200)
Deemed dividends due to modification of preferred shares \| ¥			(1,054,220)	(61,239)
Net loss attributable to ordinary shareholders of Yatsen Holding Limited	¥ (1,540,734)	$ (241,774)	¥ (3,984,236)	¥ (45,080)
Net loss per ordinary share
Net loss per ordinary share-basic \| (per share)	¥ (0.61)	$ (0.10)	¥ (4.78)	¥ (0.10)
Net loss per ordinary share-diluted \| (per share)	¥ (0.61)	$ (0.10)	¥ (4.78)	¥ (0.10)
Weighted average number of ordinary shares used in computing net loss per ordinary share
Ordinary shares—basic \| shares	2,526,833,201	2,526,833,201	833,714,126	450,499,736
Ordinary shares—diluted \| shares	2,526,833,201	2,526,833,201	833,714,126	450,499,736

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021CNY (¥)	Dec. 31, 2021USD ($)	Dec. 31, 2020CNY (¥)	Dec. 31, 2019CNY (¥)
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	¥ (1,547,038)	$ (242,763)	¥ (2,688,415)	¥ 75,359
Other comprehensive income (loss)
Foreign currency translation adjustment, net of nil tax	(158,515)	(24,874)	(111,697)	13,822
Total comprehensive income (loss)	(1,705,553)	(267,637)	(2,800,112)	89,181
Less: Comprehensive loss attributable to the non-controlling interests	(6,304)	(989)	(608)
Comprehensive income (loss) attributable to the Yatsen Holding Limited’s shareholders	¥ (1,699,249)	$ (266,648)	¥ (2,799,504)	¥ 89,181

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical)	12 Months Ended
	Dec. 31, 2021CNY (¥)	Dec. 31, 2021USD ($)	Dec. 31, 2020CNY (¥)	Dec. 31, 2019CNY (¥)
Statement Of Income And Comprehensive Income [Abstract]
Foreign currency translation adjustment, tax	¥ 0	$ 0	¥ 0	¥ 0

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (DEFICIT) ¥ in Thousands, $ in Thousands	CNY (¥)shares	USD ($)shares	Ordinary SharesCNY (¥)shares	Treasury SharesCNY (¥)shares	Additional Paid-in CapitalCNY (¥)	Statutory ReservesCNY (¥)	Accumulated DeficitCNY (¥)	Accumulated Other Comprehensive Income (Loss)CNY (¥)	Non-controlling interestsCNY (¥)
Balance at Dec. 31, 2018	¥ (58,475)		¥ 47	¥ (23)	¥ 873		¥ (59,982)	¥ 610
Balance, shares at Dec. 31, 2018 \| shares			773,926,180	(394,215,000)
Issuances of restricted shares to founders			¥ 10	¥ (10)
Issuances of restricted shares to founders, shares \| shares			157,846,049	(157,846,049)
Vesting of founders' restricted shares	50,837			¥ 13	50,824
Vesting of founders' restricted shares, shares \| shares				204,821,074
Repurchases of ordinary shares	¥ (41,062)		¥ (1)		(41,061)
Repurchases of ordinary shares, shares \| shares	(17,197,032)	(17,197,032)	(17,197,032)
Deemed share-based compensation related to repurchases of ordinary shares	¥ 24,158				24,158
Accretion on preferred shares to redemption value	(59,200)						(59,200)
Deemed dividend to preferred shareholders due to modification of preferred shares	(61,239)				(34,794)		(26,445)
Appropriation to statutory reserves						¥ 19,322	(19,322)
Net income (loss)	75,359						75,359
Foreign currency translation adjustment	13,822							13,822
Balance at Dec. 31, 2019	(55,800)		¥ 56	¥ (20)		19,322	(89,590)	14,432
Balance, shares at Dec. 31, 2019 \| shares			914,575,197	(347,239,975)
Issuances of restricted shares to founders			¥ 6	¥ (6)
Issuances of restricted shares to founders, shares \| shares			93,753,239	(93,753,239)
Share-based compensation of founders' restricted shares	1,030,178			¥ 26	1,030,152
Share-based compensation of founders' restricted shares, shares \| shares				440,993,214
Repurchases of ordinary shares	¥ (483,622)		¥ (4)		(351,328)		(132,290)
Repurchases of ordinary shares, shares \| shares	(62,388,247)	(62,388,247)	(62,388,247)
Deemed share-based compensation related to repurchases of ordinary shares	¥ 146,294				146,294
Issuances of shares due to exercise of share options			¥ 1		(1)
Issuances of shares due to exercise of share options, shares \| shares			15,518,385
Share-based compensation related to accelerated vesting of share options	138,729				138,729
Share-based compensation related to vesting of share options	279,908				279,908
Issuances of shares to Share Incentive Plan Trust			¥ 12	¥ (12)
Issuances of shares to Share Incentive Plan Trust, shares \| shares			170,719,987	(170,719,987)
Deemed repurchase of ordinary shares resulting from redesignation of founder's ordinary shares to preferred shares	(33,290)		¥ (1)				(33,289)
Deemed repurchase of ordinary shares resulting from redesignation of founder's ordinary shares to preferred shares, shares \| shares			(6,443,998)
Accretion on preferred shares to redemption value	(242,209)						(242,209)
Deemed dividend to preferred shareholders due to modification of preferred shares	(1,054,220)						(1,054,220)
Appropriation to statutory reserves						729	(729)
Net income (loss)	(2,688,415)						(2,687,807)		¥ (608)
Foreign currency translation adjustment	(111,697)							(111,697)
Conversion of convertible redeemable preferred shares	5,569,318		¥ 85		5,569,233
Conversion of convertible redeemable preferred shares,shares \| shares			1,301,189,200
Issuance of ordinary shares upon initial public offering	4,352,728		¥ 18		4,352,710
Issuance of ordinary shares upon initial public offering, shares \| shares			270,250,000
Capital injection from non-controlling interests	15,692								15,692
Balance at Dec. 31, 2020	6,863,594		¥ 173	¥ (12)	11,165,697	20,051	(4,240,134)	(97,265)	15,084
Balance, shares at Dec. 31, 2020 \| shares			2,697,173,763	(170,719,987)
Repurchases of ordinary shares	(22,319)			¥ (22,319)
Repurchases of ordinary shares, shares \| shares				(7,387,292)
Issuances of shares due to exercise of share options	¥ 1,920			¥ 1	1,919
Issuances of shares due to exercise of share options, shares \| shares	7,686,832	7,686,832		7,686,832
Share-based compensation related to accelerated vesting of share options	¥ 66,429				66,429
Share-based compensation related to vesting of share options	464,011				464,011
Appropriation to statutory reserves						1,301	(1,301)
Net income (loss)	(1,547,038)	$ (242,763)					(1,540,734)		(6,304)
Foreign currency translation adjustment	(158,515)	(24,874)						(158,515)
Acquisition of a subsidiary	228								228
Transaction with non-controlling interests					(114)				114
Capital injection from non-controlling interests	596								596
Balance at Dec. 31, 2021	¥ 5,668,906	$ 889,576	¥ 173	¥ (22,330)	¥ 11,697,942	¥ 21,352	¥ (5,782,169)	¥ (255,780)	¥ 9,718
Balance, shares at Dec. 31, 2021 \| shares			2,697,173,763	(170,420,447)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021CNY (¥)	Dec. 31, 2021USD ($)	Dec. 31, 2020CNY (¥)	Dec. 31, 2019CNY (¥)
Cash Flows from Operating Activities
Net income (loss)	¥ (1,547,038)	$ (242,763)	¥ (2,688,415)	¥ 75,359
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation of property and equipment	130,666	20,504	74,551	13,010
Amortization of intangible assets	50,705	7,957	3,476	907
Share-based compensation	530,440	83,238	1,900,588	74,995
Amortization of right-of-use assets	245,893	38,586	185,843	53,752
Recognition of deferred income	(14,515)	(2,278)
Impairment allowance of inventory	87,045	13,659	21,496	1,018
Deferred income tax expenses (benefits)	(5,428)	(852)	3,451	(3,695)
Loss on disposal of property and equipment	36,231	5,685	15,072	747
Loss on disposal of intangible assets	2,672	419	27
Gain from acquisition of a joint venture	(2,094)	(329)
Impairment of an investment	1,375	216
Share of (income) loss from equity investments	(5,978)	(938)	293
Provision for expected credit loss			2,643
Changes in operating assets and liabilities:
Accounts receivable	99,745	15,652	(154,015)	(200,554)
Prepayments and other current assets	(42,715)	(6,704)	(190,621)	(89,475)
Inventories	(109,930)	(17,250)	(134,255)	(411,111)
Other non-current assets	(18,961)	(2,975)	(25,752)	(18,803)
Amounts due from related parties	1,260	198	(564)	66,692
Amounts due to related parties	2,153	338	11,814
Accounts payable	(244,444)	(38,359)	66,163	310,320
Accrued expenses and other liabilities	(63,683)	(9,993)	174,698	96,951
Advances from customers	14,376	2,256	3,051	3,176
Deferred income	71,668	11,246
Income tax payables	(1,437)	(225)	(55,958)	72,926
Lease liabilities	(238,447)	(37,418)	(196,954)	(52,394)
Net Cash used in Operating Activities	(1,020,441)	(160,130)	(983,368)	(6,179)
Cash Flows from Investing Activities
Purchases of intangible assets	(25,304)	(3,971)	(159,010)	(2,421)
Purchases of property and equipment	(141,433)	(22,194)	(225,569)	(106,339)
Proceeds from disposal of property and equipment			471
Purchases of short-term investments				(70,000)
Sales of short-term investments			10,000	60,000
Acquisition of businesses, net of cash and cash equivalents acquired	(989,652)	(155,298)	(3,196)	(29,412)
Investments on equity investments	(322,825)	(50,658)	(35,552)
Pre-paid consideration for an acquisition	(5,043)	(791)	(95,976)
Net Cash used in Investing Activities	(1,484,257)	(232,912)	(508,832)	(148,172)
Cash Flows from Financing Activities
Proceeds from short-term borrowings			10,000	14,417
Repayments for short-term borrowings	(100)	(16)	(10,000)	(17,317)
Proceeds from issuance of preferred shares, net of issuance costs			3,868,594	895,686
Proceeds from issuance of ordinary shares, net of issuance costs			4,380,213
Repayment of a shareholder receivable resulting from Repurchases of Ordinary Shares	12,959	2,034
Repayment of a shareholder receivable resulting from Reorganization				20,000
Capital contributions from non-controlling interests	596	94
Repurchases of ordinary shares	(15,161)	(2,379)	(491,167)	(47,255)
Repurchases of preferred shares			(1,076,771)	(70,300)
Net Cash provided by (used in) Financing Activities	(1,706)	(267)	6,680,869	795,231
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(88,980)	(13,963)	(131,856)	10,637
Net increase (decrease) in cash and cash equivalents and restricted cash	(2,595,384)	(407,272)	5,056,813	651,517
Cash and cash equivalents and restricted cash at the beginning of the year	5,733,392	899,694	676,579	25,062
Cash and cash equivalents and restricted cash at the end of the year	3,138,008	492,422	5,733,392	676,579
Supplemental disclosures of cash flow information
Income taxes paid	(6,190)	(971)	(59,437)	(2,745)
Cash paid for interest			(93)	(429)
Supplemental schedule of non-cash investing and financing activities
Purchases of property and equipment	19,709	3,093	40,412	13,017
Purchases of intangible assets	2,999	471
Receivables of exercise price of share options	1,920	301
Payable for repurchases of Ordinary Shares	7,166	1,124
Disposal of an equity method investment				3,000
Consideration payable for business combination				¥ 3,196
Deemed repurchase of ordinary shares resulting from redesignation of Founder’s ordinary shares to preferred shares			35,142
Capital injection from non-controlling interests	¥ 338,587	$ 53,132	¥ 15,692

Principal Activities and Reorga

Principal Activities and Reorganization	12 Months Ended
Principal Activities and Reorganization	Dec. 31, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Principal Activities and Reorganization	1. PRINCIPAL ACTIVITIES AND REORGANIZATION (a) Principal activities Yatsen Holding Limited (the “Company”) was incorporated in the Cayman Islands on September 12, 2016. The Company, through its consolidated subsidiaries, the variable interest entities (“VIEs”) and VIE’s subsidiaries (collectively referred to as the "Group"), is primarily engaged in selling color cosmetics and is a consumer-centric, technology-and data-driven beauty platform in the People's Republic of China ("the PRC"). The Company was listed on the New York Stock Exchange on November 19, 2020. As of December 31, 2021, details of the Company's principal subsidiaries and VIE were as follows: Place of Date of Percentage of incorporation incorporation beneficial ownership Principal activities Wholly owned subsidiaries: Guangzhou Yatsen Global Co., Ltd.(“Guangzhou Yatsen”) PRC July 29, 2015 100% Cosmetics Sales Guangzhou Yatsen Cosmetics Co., Ltd. PRC March 24, 2017 100% Cosmetics Sales Guangzhou Yiyan Cosmetics Co., Ltd. PRC April 15, 2019 100% Cosmetics Sales VIE: Huizhi Weimei (Guangzhou) Trading Co., Ltd.(“HZ VIE”) PRC February 22, 2019 100% Cosmetics Sales 1. PRINCIPAL ACTIVITIES AND REORGANIZATION (Continued) ( b ) VIE Arrangements between the VIEs and the Company's PRC subsidiary To comply with the relevant PRC laws and regulations, the Group operates its internet-based business, in which foreign investment is restricted or prohibited, through the VIEs. The Group obtained the control of the VIEs by entering into a series of contractual arrangements with the VIEs or their equity holders as follows: Powers of Attorney The shareholders of VIEs, have each executed a power of attorney to irrevocably appoint Guangzhou Yatsen or its designated person as their attorney-in-fact to exercise all of their rights as shareholders of VIEs, including, but not limited to, the right to convene and attend shareholder meetings, vote on any resolution that requires a shareholder vote, such as the appointment or removal of directors and executive officers, and other voting rights pursuant to the then-effective articles of association of VIEs. The power of attorney will remain in force for so long as the controlling shareholders remain the shareholders of VIEs. Exclusive Technology Consulting and Service Agreement Under the exclusive technology consulting and service agreement between Guangzhou Yatsen and VIEs, Guangzhou Yatsen has the exclusive right to provide to VIEs technology consulting and services related to, among other things, research and development, system operation, advertising, internal training and technical support. Guangzhou Yatsen has the exclusive ownership of intellectual property rights created as a result of the performance of this agreement. In exchange, VIEs agree to pay Guangzhou Yatsen an annual service fee, at an amount that is agreed by Guangzhou Yatsen. Unless Guangzhou Yatsen provides valid notice of termination 30 days prior to the term of agreement ending, this agreement will remain effective for 10 years to be automatically renewed for another 10 years thereafter. Equity Pledge Agreement Pursuant to the equity pledge agreement among Guangzhou Yatsen, VIEs, and the shareholders of VIEs, the shareholders pledged all of their equity interests in VIEs to guarantee their and VIEs’ performance of their obligations under the contractual arrangements including the exclusive technology consulting and service agreement, the exclusive option agreement and the power of attorney. In the event of a breach by VIEs or their shareholders of contractual obligations under these agreements, Guangzhou Yatsen, as pledgee, will have the right to dispose of the pledged equity interests in VIEs. The shareholders of VIEs also undertake that, during the term of the equity pledge agreement, they will not dispose of the pledged equity interests or create or allow any encumbrance on the pledged equity interests. During the term of the equity pledge agreement, Guangzhou Yatsen has the right to receive all of the dividends and profits distributed on the pledged equity interests. As of the date of this annual report, the equity pledge for the variable interest equity has been registered with local PRC authorities. Exclusive Call Option Agreement Pursuant to the exclusive call option agreement between Guangzhou Yatsen, VIEs and their shareholders, the shareholders of VIEs irrevocably grant Guangzhou Yatsen an exclusive option to purchase, at its discretion, or have its designated person to purchase, to the extent permitted under PRC law, all or part of the equity interests in VIEs. The purchase price shall be the lowest price permitted by applicable PRC law. In addition, VIEs have granted Guangzhou Yatsen an exclusive option to purchase, at its discretion, or have its designated person to purchase, to the extent permitted under PRC law, all or part of VIEs’ assets at the book value of such assets, or at the lowest price permitted by applicable PRC law, whichever is higher. The shareholders of VIEs undertake that, without the Company’s prior written consent or the prior written consent of Guangzhou Yatsen, they may not increase or decrease the registered capital, dispose of its assets, incur any debt or guarantee liabilities, enter into any material purchase agreements, conduct any merger, acquisition or investments, amend its articles of association or provide any loans to third parties. The exclusive call option agreement will remain effective until all equity interest in VIEs held by their shareholders and all assets of VIEs are transferred or assigned to Guangzhou Yatsen or its designated representatives. Under accounting principles generally accepted in the United States of America (“U.S. GAAP”), a VIE is consolidated if the Company bears the risks and enjoys the rewards normally associated with, ownership of the entity. Through these contractual agreements, the Company has the power to direct the activities that most significantly impact the VIEs’ economic performance, bears the risks of and enjoys the rewards normally associated with ownership of the VIEs. Therefore, the Company is the ultimate primary beneficiary of the VIEs and the financial results of the VIEs are included in the Group’s consolidated financial statements. The PRC variable interest entity, HZ VIE, developed e-commerce platforms for the business and holds an ICP license. 1. PRINCIPAL ACTIVITIES AND REORGANIZATION (Continued) ( b ) VIE Arrangements between the VIEs and the Company's PRC subsidiary (Continued) The following consolidated financial information of the consolidated VIEs is included in the accompanying consolidated financial statements as of and for the year ended: As of December 31, 2020 2021 RMB RMB Cash and cash equivalents 31,147 27,539 Accounts receivable 7,331 8,109 Inventories, net 1,050 1,006 Prepayments and other current assets 15,973 17,525 Amounts due from non-VIE subsidiaries 111 - Total current assets 55,612 54,179 Investments - 118,862 Property and equipment, net 16,020 11,106 Intangible assets, net 289 38 Right-of-use assets, net - 143 Other non-current assets 457 - Total non-current assets 16,766 130,149 Total assets 72,378 184,328 Accounts payable 6,892 11,765 Advances from customers 6,156 14,262 Accrued expenses and other liabilities 42,874 18,727 Income tax payables 929 1,005 Lease liabilities due within one year - 74 Amounts due to non-VIE subsidiaries 50,591 193,917 Total current liabilities 107,442 239,750 Lease liabilities - 78 Total liabilities 107,442 239,828 Year ended December 31, 2019 2020 2021 RMB RMB RMB Net revenues 251,385 907,735 521,835 Net loss (15,066) (176,187) (27,886) Net cash provided by operating activities 3,022 47,830 17,178 Net cash used in investing activities - (17,102) (121,236) Net cash provided by (used in) financing activities - (2,603) 100,450 Net increase (decrease) in cash and cash equivalents 3,022 28,125 (3,608) (1) During 2019, 2020 and 2021, the consolidated VIEs earned inter-company revenues in the amounts of RMB 2,730, RMB 11,665 and nil, respectively. In addition, the proceeds from advances from Group companies to the consolidated VIEs in 2019, 2020 and 2021 are in the amount of RMB 11,680, RMB 303,913, and RMB 129,664, respectively and the repayment of advances to Group companies by the consolidated VIEs in 2019, 2020 and 2021 are in the amount of RMB 11,680, RMB 303,913, and RMB 36,664, respectively. All of these transactions have been eliminated in consolidation. (2) As at December 31, 2020 and 2021, amounts due to non-VIE subsidiaries included nil and RMB 93,000 for debt financing from Group companies to the consolidated VIEs not yet returned. (3) Aoyan (Shanghai) Cosmetics Trading Co., Ltd.(“Aoyan”) was acquired through a series of contractual arrangements entered on June 4, 2019 that enabled the Group to control Aoyan and to receive all rewards associated with equity ownership. The Group subsequently entered a series of VIE arrangements described in Note 1.(b) to replace the above contracts on May 8, 2020. The Group acquired 100% of the equity interest of Aoyan for no consideration on July 17, 2020 and terminated all VIE arrangements for Aoyan. Therefore, Aoyan was treated as one of the consolidated VIEs for the period from June 4, 2019 to July 17, 2020. Financial information of Aoyan after July 17, 2020 was excluded from the consolidated financial information of the consolidated VIEs disclosed above. 1. PRINCIPAL ACTIVITIES AND REORGANIZATION (Continued) ( b ) VIE Arrangements between the VIEs and the Company's PRC subsidiary (Continued) In accordance with the aforementioned agreements, the Company has the power to direct activities of the VIEs, and can have assets transferred out of VIEs. Therefore, the Company considers that there is no asset in VIEs that can be used only to settle obligations of the VIEs, except for registered capital, as of December 31, 2021. As VIEs were incorporated as limited liability companies under the PRC Company Law, the creditors do not have recourse to the general credit of the Company for all the liabilities of VIEs. There is currently no contractual arrangement that would require the Company to provide additional financial support to the VIEs. As the Group is conducting certain businesses in the PRC through the VIEs, the Group may provide additional financial support on a discretionary basis in the future, which could expose the Group to a loss. There is no VIEs where the Company has variable interest but is not the primary beneficiary. The Group believes that the contractual arrangements among its shareholders and Guangzhou Yatsen comply with PRC law and are legally enforceable. However, uncertainties in the PRC legal system could limit the Company’s ability to enforce these contractual arrangements and if the shareholders of VIEs were to reduce their interest in the Company, their interests may diverge from that of the Company and that may potentially increase the risk that they would seek to act contrary to the contractual terms. The Company’s ability to control the VIEs also depends on the voting rights proxy and the effect of the share pledge under the Equity Pledge Agreement and Guangzhou Yatsen has to vote on all matters requiring shareholder approval in VIEs. As noted above, the Company believes this voting right proxy is legally enforceable but may not be as effective as direct equity ownership.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
Significant Accounting Policies	Dec. 31, 2021
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	2. SIGNIFICANT ACCOUNTING POLICIES (a) Basis of presentation The consolidated financial statements of the Group have been prepared in accordance with U.S. GAAP. Significant accounting policies followed by the Group in the preparation of the consolidated financial statements are summarized below. (b) Basis of consolidation The Group's consolidated financial statements include the financial statements of the Company, its subsidiaries and VIEs for which the Company or its subsidiary is the primary beneficiary. A subsidiary is an entity in which the Company, directly or indirectly, controls more than one half of the voting powers; or has the power to appoint or remove the majority of the members of the board of directors; or to cast a majority of votes at the meeting of directors; or has the power to govern the financial and operating policies of the investee under a statute or agreement among the shareholders or equity holders. A VIE is an entity in which the Company, or its subsidiary, through contractual agreements, bears the risks of, and enjoys the rewards normally associated with ownership of the entity, and therefore the Company or its subsidiary is the primary beneficiary of the entity. All transactions and balances among between the Company, its subsidiaries and VIEs have been eliminated upon consolidation. ( c ) Use of estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and accompanying notes. Significant accounting estimates reflected in the Group's consolidated financial statements include revenue recognition, inventory impairment, goodwill impairment assessment, determination of fair value of preferred shares, fair value of share options granted to employees, fair value of assets and liabilities acquired in business combinations, valuation allowance for deferred tax assets, the discount rate for lease. The management bases the estimates and judgments on historical information and on various other assumptions that management believes are reasonable under the circumstances. Actual results could differ materially from such estimates. 2. SIGNIFICANT ACCOUNTING POLICIES (Continued) ( d ) Functional currency and foreign currency translation The Group uses Renminbi (“RMB”) as its reporting currency. The functional currency of the Company and its subsidiaries incorporated in Cayman Islands is United States dollar (“US$”), in Hong Kong is US$ or Hong Kong dollar (“HKD”), in United Kingdom is Great Britain Pound (“GBP”), in France is Euro (“EUR”), and in Japan is Japanese Yen (“JPY”) while the functional currency of the Group’s entities in PRC is RMB, which is their respective local currency. In the consolidated financial statements, the financial information of the Company and its subsidiaries, which use foreign currency as their functional currency, have been translated into RMB. Assets and liabilities are translated at the exchange rates on the balance sheet date, equity amounts are translated at historical exchange rates, and revenues, expenses, gains, and losses are translated using the average exchange rate for the period. Translation adjustments arising from these are reported as foreign currency translation adjustments and are shown as a component of other comprehensive income (loss) in the consolidated statement of comprehensive income (loss). Foreign currency transactions denominated in currencies other than functional currency are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are remeasured at the applicable rates of exchange in effect at that date. Foreign exchange gains and losses resulting from the settlement of such transactions and from remeasurement at year-end are recognized in foreign currency exchange gains (losses), net in the consolidated statement of operations. ( e ) Convenience translation Translations of balances in the consolidated balance sheets, consolidated statements of operations, consolidated statements of comprehensive income (loss) and consolidated statements of cash flows from RMB into US$ as of and for the year ended December 31, 2021 are solely for the convenience of the reader and were calculated at the noon buying rate of US$ 1.00 = RMB 6.3726 on December 30, 2021 as set forth in the H.10 statistical release of the U.S. Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate on December 31, 2021, or at any other rate. ( f ) Cash and cash equivalents Cash and cash equivalents consist of cash on hand, demand deposits and highly liquid investments with original maturity of less than three months. Cash and cash equivalents are placed with financial institutions with high-credit ratings and quality. (g) Restricted cash Restricted cash primarily represents cash reserved in relation to litigations. For the years ended December 31,2020 and 2021, the restricted cash amounted to RMB 5,715 and nil, respectively ( h ) Accounts receivable Accounts receivable are stated at the historical carrying amount net of allowance for doubtful accounts. The accounts receivable mainly include receivables from platform distributor customers, wholesale customers and independent payment channels or payment channel functions operated by platforms, who collect from end customers on behalf of the Group before the Group’s delivery of products (“Payment Channels”). The receivables from platform distributor customers and wholesale customers are settled in accordance with credit terms mutually agreed. The receivable from Payment Channels is settled upon pre-agreed days after the Group delivers products to end customers, or when customers confirm their receipts of products, whichever is earlier. The allowance for doubtful accounts reflects the Group’s best estimate of expected losses. Before January 1, 2020, the Group determines the allowance for doubtful accounts based on an assessment of historical collection activity, the current business environment and forecasts that may affect the customers' ability to pay. From January 1, 2020, the Group determines the expected credit loss provisions based on ASC Topic 326, detailed as Note 2(i). ( i ) Expected credit losses The Group adopted the accounting standards update of ASC Topic 326 and several associated ASUs related to the measurement of credit losses on January 1, 2020 using a modified retrospective approach, which did not have a material impact on retained earnings (accumulated deficit). 2. SIGNIFICANT ACCOUNTING POLICIES (Continued) ( i ) Expected credit losses (Continued) The Group’s accounts receivable and other receivables classified as other current assets and other non-current assets are within the scope of ASC Topic 326. The Group has identified the relevant risk characteristics of its customers and the related receivables and other receivables which include size, type of the services or products the Group provides, or a combination of these characteristics. Receivables with similar risk characteristics have been grouped into pools. For each pool, the Group considers the historical credit loss experience, current economic conditions, supportable forecasts of future economic conditions, and any recoveries in assessing the lifetime expected credit losses. Other key factors that influence the expected credit loss analysis include customer demographics, payment terms offered in the normal course of business to customers, and industry-specific factors that could impact the Group’s receivables. The Group also provides specific provisions for allowance when facts and circumstances indicate that the receivable is unlikely to be collected. Expected credit losses for accounts receivable are recorded as general and administrative expenses on the consolidated statements of operations. The Group’s accounts receivable primarily include (i) receivables from the e-commerce platform distributors who sell products to their end customers on prepayment term and therefore are subject to limited credit loss risk from their customers, and (ii) receivables from Payment Channels who collect from the Group’s end customers on behalf of the Group before the delivery of products. Based on such industry practice and considering no significant bad debt expense incurred historically, the Group expected no significant credit losses will be incurred for accounts receivable due from these two types of customers. ( j ) Inventories, net Inventories are stated at the lower of cost or net realizable value. Cost is determined using the weighted average method. Impairment is made for excessive, slow moving, expired and obsolete inventories as well as for inventories with carrying values in excess of market. Certain factors could impact the realizable value of inventory, so the Group continually estimated the net realizable value based on assumptions relating to the demand forecast for inventories, including potential product obsolescence, sales strategy, and marketability of inventories. The estimation may take into consideration historical usage, inventory aging, expiration date, expected demand, anticipated sales price, new product development schedules, the effect new products might have on the sale of existing products, product obsolescence, customer concentrations, and other factors. The impairment is equal to the difference between the cost of inventory and the estimated net realizable value based upon assumptions about future demand and market conditions. If actual market conditions are less favorable than those projected by management, additional inventory impairment may be required that could negatively impact the Group’s gross margin and operating results. If actual market conditions are more favorable, the Group may have higher gross margin when products that have been previously provided for are eventually sold. ( k ) Property and equipment is carried at cost less accumulated depreciation and impairment, if any. Depreciation is calculated on a straight-line basis over the following estimated useful lives. Category Estimated useful lives Machinery 3-10 years Electronic equipment 3 years Office furniture and equipment 3 -5 years Vehicles 4 years Leasehold improvements Shorter of the term of the lease or the estimated useful lives of the assets Repairs and maintenance costs are charged to expenses as incurred, whereas the costs of renewals and betterment that extend the useful lives of property and equipment are capitalized as additions to the related assets. The Group recognizes the gain or loss on the disposal of property and equipment in the consolidated statements of operations. Construction in progress represents direct costs that are related to the construction of property and equipment and incurred in connection with bringing the assets to their intended use. The costs of construction in progress are transferred to specific property and equipment accounts and the depreciation of these assets commences when the assets are ready for their intended use. 2. SIGNIFICANT ACCOUNTING POLICIES (Continued) ( l ) Intangible assets, net Intangible assets purchased from third parties are initially recorded at cost and amortized on a straight-line basis over the estimated economic useful lives. The acquired intangible assets are recognized and measured at fair value and are expensed or amortized using the straight-line approach over the estimated economic useful lives of the assets. The estimated useful lives of intangible assets are as follows: Category Estimated useful lives Trademarks 9-20 years Software 5 years Customer Relationship 10 years Techniques 10 years Non-compete 5 years ( m ) Goodwill Goodwill represents the excess of the purchase price over the amounts assigned to the fair value of the identifiable assets acquired and the liabilities assumed of an acquired business. The Group conducts an impairment test as of December 31 of each year, or more frequently if events or circumstances indicate that the carrying value of goodwill may be impaired. Prior to the adoption of ASU No. 2017-04, the Group performs a two-step goodwill impairment test. The first step compares the fair values of each reporting unit to its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill is not considered impaired and the second step will not be required. If the carrying amount of a reporting unit exceeds its fair value, the second step compares the implied fair value of the affected reporting unit’s goodwill to the carrying value of that goodwill. The implied fair value of goodwill is determined in a manner similar to accounting for a business combination with the allocation of the assessed fair value determined in the first step to the assets and liabilities of the reporting unit. The excess of the fair value of the reporting unit over the amounts assigned to the assets and liabilities is the implied fair value of goodwill. An impairment loss is recognized for any excess in the carrying value of goodwill over the implied fair value of goodwill. The judgment in estimating the fair value of reporting units includes estimating future cash flows, determining appropriate discount rates and making other assumptions. Changes in these estimates and assumptions could materially affect the determination of the fair value of each reporting unit. In January 2017, the FASB issued ASU No. 2017-04, Simplifying the Test for Goodwill Impairment by removing Step 2. Potential impairment is identified by comparing the fair value of a reporting unit to the unit’s carrying value, including goodwill. An impairment charge is recorded, when necessary, for the amount by which the carrying amount exceeds the reporting unit’s fair value, up to a maximum amount of the goodwill balance for the reporting unit. An entity still has the option to perform a qualitative assessment to determine if the quantitative impairment test is necessary. The initial impact of applying ASU 2017-04 on consolidated financial statements has no impact to the retained earnings (accumulated deficit) as of January 1, 2020. No impairment provision was made for the years ended December 31, 2019, 2020 and 2021. (n) Business combination Business combinations are recorded using the purchase method of accounting, and the cost of an acquisition is measured as the aggregate of the fair values at the date of exchange of the assets given, liabilities incurred, and equity instruments issued as well as the contingent considerations and all contractual contingencies as of the acquisition date. The costs directly attributable to the acquisition are expensed as incurred. Identifiable assets, liabilities and contingent liabilities acquired or assumed are measured separately at their fair value as of the acquisition date, irrespective of the extent of any non-controlling interests. The excess of the (i) the total of consideration paid, fair value of the non-controlling interests and acquisition date fair value of any previously held equity interest in the subsidiary acquired over (ii) the fair value of the identifiable net assets of the subsidiary acquired is recorded as goodwill. If the consideration of acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the consolidated statements of comprehensive income. 2. SIGNIFICANT ACCOUNTING POLICIES (Continued) (n) Business combination (Continued) The redeemable non-controlling interests is recognized at fair value on the acquisition date. The Group records accretion on the redeemable non-controlling interest to the redemption value over the period from the date of the acquisition to the date of earliest redemption. The accretion using the effective interest method, is recorded as deemed dividends to preferred shareholders, which reduce retained earnings and equity classified non-controlling interests, and earnings available to common shareholders in calculating basic and diluted earnings per share. The process of adjusting redeemable non-controlling interests to its redemption value (the “Mezzanine Adjustment”) should be performed after attribution of the subsidiary’s net income or loss pursuant to ASC 810, Consolidation. The carrying amount of redeemable non-controlling interests will equal the higher of the amount resulting from application of ASC 810 or the amount resulting from the Mezzanine Adjustment. As the expected redemption value is less than the carrying value of redeemable non-controlling interests, there is nil mezzanine adjustment recognized for the year ended December 31, 2021. The Group treats transactions with non-controlling interests that do not result in a loss of control as transactions with equity owners of the Group. A change in ownership interest results in an adjustment between the carrying amounts of the controlling and non-controlling interests to reflect their relative interests in the subsidiary. Any difference between the amount of the adjustment to non-controlling interests and any consideration paid or received is recognised in additional paid-in capital. ( o ) Investments 1) Equity investments accounted for using the equity method The Group accounts for its equity investments over which it has significant influence but does not own a majority equity interest or otherwise control using the equity method. The Group adjusts the carrying amount of the investment and recognizes investment income or loss for its share of the earnings or losses of the investee after the date of investment. 2) Equity investments without readily determinable fair values The Group elected to record equity investments without readily determinable fair values and not accounted for by the equity method at cost, less impairment, adjusted for subsequent observable price changes, and will report changes in the carrying value of the equity investments in current earnings. Changes in the carrying value of the equity investment will be required to be made whenever there are observable price changes in orderly transactions for the identical or similar investment of the same issuer. The Group monitors its investments for other-than-temporary impairment by considering factors including, but not limited to, current economic and market conditions, the operating performance of the companies including current earnings trends and other company-specific information. ( p ) Impairment of long-lived assets Long-lived assets are evaluated for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying value of an asset may not be fully recoverable or that the useful life is shorter than the Group had originally estimated. When these events occur, the Group evaluates the impairment for the long-lived assets by comparing the carrying value of the assets to an estimate of future undiscounted cash flows expected to be generated from the use of the assets and their eventual disposition. If the sum of the expected future undiscounted cash flows is less than the carrying value of the assets, the Group recognizes an impairment loss based on the excess of the carrying value of the assets over the fair value of the assets. 2. SIGNIFICANT ACCOUNTING POLICIES (Continued) ( q ) In February 2016, the FASB issued ASC 842, Leases, to require lessees to recognize all leases, with certain exceptions, on the balance sheet, while recognition on the operations will remain similar to lease accounting under ASC 840. Subsequently, the FASB issued ASU No. 2018-10, Codification Improvements to Topic 842, Leases, ASU No. 2018-11, Targeted Improvements, ASU No. 2018-20, Narrow-Scope Improvements for Lessors, and ASU 2019-01, Codification Improvements, to clarify and amend the guidance in ASU No. 2016-02. As a lessee Operating lease The Group early adopted the ASUs as of January 1, 2018 using the modified retrospective approach. The adoption impact was immaterial. Upon adoption, the Group elected the package of practical expedients permitted under the transition guidance within the new standard, which allowed the Group to carry forward the historical determination of contracts as leases, lease classification and not reassess initial direct costs for historical lease arrangements. In addition, the Group also elected the practical expedient to apply consistently to all of the Group’s leases to use hindsight in determining the lease term (that is, when considering lessee options to extend or terminate the lease and to purchase the underlying asset) and in assessing impairment of the Group’s right-of-use assets. The Group includes a right-of-use asset and lease liability related to substantially all of the Group’s lease arrangements in the consolidated balance sheets. All of the Group’s leases are operating leases. Operating lease assets are included within right-of-use assets, and the corresponding lease liabilities are included in either current or long-term liabilities. The Group has elected not to present short-term leases on the consolidated balance sheet as these leases have a lease term of 12 months or less at commencement date of the lease and do not include options to purchase or renew that the Group is reasonably certain to exercise. The Group recognizes lease expenses for such short-term lease generally on a straight-line basis over the lease term. All other lease assets and lease liabilities are recognized based on the present value of lease payments over the lease term at commencement date. Because most of the Group’s leases do not provide an implicit rate of return, the Group uses the Group’s incremental borrowing rate based on the information available at adoption date or lease commencement date in determining the present value of lease payments. ( r ) Mezzanine equity Mezzanine equity represents the preferred shares issued by the Company. The preferred shares were redeemable at the holders’ option any time after a certain date and are contingently redeemable upon the occurrence of certain liquidation events outside of the Company’s control. Therefore, the Group classified all of the preferred shares as mezzanine equity (Note 18). In accordance with ASC 480-10, the mezzanine equity is initially measured based on its fair value at date of issuance. The preferred shares can be converted either voluntarily before a qualified initial public offering (“Qualified IPO”, referring to a public offering of ordinary shares of the Company registered under the Securities Act and with an implied pre-money valuation of US$5,000,000 or more) or automatically upon a Qualified IPO. The Company accreted changes in the redemption value over the period from the date of issuance to the earliest redemption date of the instrument using the interest method. According to ASC 480-10-S99-2, where fair value at date of issuance is less than the mandatory redemption amount, the carrying amount is to be increased by periodic accretions, using the interest method, so that the carrying amount will equal the mandatory redemption amount at the mandatory redemption date. Each increase in carrying amount is to be recorded as charges against retained earnings or, in the absence of retained earnings, as charges against additional paid-in capital until additional paid-in capital is reduced to zero. 2. SIGNIFICANT ACCOUNTING POLICIES (Continued) ( s ) Revenue recognition The Group adopted ASC 606 for all periods presented. According to ASC 606, revenue is recognized when control of the promised good or service is transferred to the customer in an amount that reflects the consideration the Group expects to receive in exchange for those goods or services, after considering estimated sales return allowances, price concessions, discount and value added tax (“VAT”). Consistent with the criteria of Topic 606, the Group follows five steps for its revenue recognition: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract, and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The Group’s revenues are primarily derived from (i) sales of the Group’s products to third party platform distributor customers and wholesale customers who then sell to end customers and (ii) sales of the Group’s products to end customers directly through the Group’s online stores run on third party e-commerce platforms and through offline stores operated by the Group. Refer to Note 15 to the consolidated financial statements for disaggregation of the Group's revenues for the years ended December 31, 2019, 2020 and 2021. The Group enters into two types of agreements with third party e-commerce platforms: 1) Distribution Agreements Under the distribution agreements, the platform distributor customers purchase products from the Group and sell to end customers under the platform distributor customer’s name. According to the agreements, the platform distributor customers take control of the products and are entitled to rights of return and price protection. After taking control of the products, the platform distributor customer is responsible for selling and fulfilling all obligations in its sales contracts with end customers, including delivering the products and providing customer support. Under the distribution agreement, the Group has a sale contract with the platform distributor customer and has no sales contract with the end customers. Based on these indicators, the Group determined the e-commerce platform distributors (as opposed to the end customers) as its customers according to ASC 606-10-55-39. 2) Platform Service Agreements Under the platform service agreements, the Group sets up online stores on the platforms to sell the Group’s product to end customers. The platforms provide services to support the operations of the online store including processing sales orders and collecting from end customers. The platforms charge the Group service fees based on the Group’s sales through the online stores. The Group enters sale contracts directly with the end customers. The platforms do not take control of the goods and do not include sales contracts with end customers. The Group is responsible for selling and fulfilling all obligations according to its sales contracts with end customers, including delivering products and providing customer support. Accordingly, the Group determined the end customers (as opposed to the platforms) as its customers according to ASC 606-10-55-39. The sales contracts with end customers normally include a customer’s right to return products within 7 days after receipt of goods. 2. SIGNIFICANT ACCOUNTING POLICIES (Continued) ( s ) (Continued) 2) Platform Service Agreements (Continued) The Group identifies its performance obligation to both e-commerce platform distributor customers and end customers as to transfer the control of the products ordered to the customers. Contracts with customers may include multiple performance obligations if there is a need to separate one order into multiple deliveries. In those scenarios, transaction price will be allocated to different performance obligations based on relative standalone selling prices. The Group recognizes revenue from sales to e-commerce platform distributors upon delivery of the products to e-commerce platform distributors’ warehouses in an amount equal to the contract sales prices less estimated sales allowances for sales returns, rebates and price protection. The Group recognizes revenues from sales to end customers upon delivery of the product to end customers in an amount equal to the contract sales prices less estimated sales allowances for sales returns and sales incentives. Estimated sales allowances for sales returns, rebates, incentives and price protection are made based on contract terms and historical patterns. The estimated sales allowances for sales returns, rebates, incentives and price protection at December 31, 2019, 2020 and 2021 were RMB 5,591, RMB 6,605 and RMB 8,146, respectively. Sales incentives The Group grants points to customers when they purchase goods from its online platforms. The points can be used to offset against payments or exchanged for goods when customers make their future purchases. The Group considers the points as a separate performance obligation and allocates the transaction price proportionally between the product sold and the points granted on a relative standalone selling price basis in consideration of the likelihood of future redemption based on historical experience and the equivalent value per point when they are redeemed. The deferred income recorded for the point is considered as a contract liability. As of December 31, 2020 and 2021, the Group recorded contract liability related to the points of nil and RMB 11,722, respectively. Contract balances A receivable is recorded when the Group has an unconditional right to consideration. A right to consideration is unconditional if only the passage of time is required before payment of that consideration is due. A contract asset is recorded when the Group has transferred products to the customer before payment is received or is due, and the Group’s right to consideration is conditional on future performance or other factors in the contract. No contract asset was recorded as at December 31, 2020 and 2021. Sales to e-commerce platform distributor customers are on credit terms, and receivables are recorded upon recognizing revenues. Sales through online stores on platforms are paid by the end customers to Payment Channels before the Group delivers the products. Payment Channels settle with the Group based upon pre-agreed days after the Group delivers products to end customers, or when the end customers confirm their receipts of products, whichever is earlier. A contract liability is recorded when the Group’s obligation to transfer goods to a customer has not yet occurred but for which the Group has received consideration from the customer. The Group presents such amounts as advances from customers on the consolidated balance sheets. As of December 31, 2020 and 2021, advances from customers were RMB 6,228 and RMB 20,680, respectively. All contract liability balances at the beginning of the years were recognized as revenue in the following years due to generally short-term duration of contracts. During the years ended December 31, 2019, 2020 and 2021, the Group did not have 2. SIGNIFICANT ACCOUNTING POLICIES (Continued) (s) (Continued) Practical Expedients The transaction price allocated to performance obligations that are unsatisfied or partially unsatisfied has not been disclosed, as substantially all of the Group’s contracts have a duration of one year or less. Payment terms with platform distributor customers and Payment Channels generally require settlement within one year or less. The Group has determined that its contracts generally do not include a significant financing component. The Group generally expenses sales commissions when incurred because the amortization period is one year or less. These costs are recorded within selling and marketing expenses. ( t ) Cost of revenues Cost of revenues consists primarily of material costs, consignment manufacturing cost and related costs that are directly attributable to the production of products. ( u ) Fulfilment expenses Fulfilment expenses primarily represent expenses incurred for warehousing, shipping and delivering products to customers, mainly including rental and personnel costs for warehouses as well as third party shipping costs. ( v ) Selling and marketing expenses Selling and marketing expenses primarily consist of (i) advertising and marketing promotion expenses, (ii) platform commission, (iii) personnel costs for sales and marketing staff, (iv) rental, depreciation expenses, personnel and other costs for offline experience stores and (v) share-based compensation expenses. For the years ended December 31, 2019, 2020 and 2021, advertising and marketing promotion expenses totalled to RMB 879,632, RMB 2,215,074 and RMB 2,369,769, respectively. ( w ) Research and development expenses Research and development expenses primarily consist of personnel

Concentration and Risks

Concentration and Risks	12 Months Ended
Concentration and Risks	Dec. 31, 2021
Risks And Uncertainties [Abstract]
Concentration and Risks	3. CONCENTRATION AND RISKS ( a ) Foreign exchange risk The majority of the Group’s operations were in RMB. The RMB is not freely convertible into foreign currencies. Remittances of foreign currencies into the PRC or remittances of RMB out of the PRC as well as exchange between RMB and foreign currencies require approval by foreign exchange administrative authorities and certain supporting documentation. The State Administration for Foreign Exchange, under the authority of the People's Bank of China, controls the conversion of RMB into other currencies. ( b ) Credit risk The Group’s credit risk arises from cash and cash equivalents, restricted cash, short-term investments, prepayments and other current assets, amount due from related parties and accounts receivable. The carrying amounts of these financial instruments represent the maximum amount of loss due to credit risk. The Group expects that there is no significant credit risk associated with cash and cash equivalents, restricted cash and short-term investments which are held by reputable financial institutions in the jurisdictions where the Company, its subsidiaries and the VIEs are located. The Group believes that it is not exposed to unusual risks as these financial institutions have high credit quality. The Group has no significant concentrations of credit risk with respect to its prepayments and other current assets and amount due from related parties. Accounts receivable are typically unsecured and are derived from revenue earned through third party consumers. The risk with respect to accounts receivable is mitigated by credit evaluations performed on them. ( c ) Concentration of customers and suppliers There were no customers which individually represented greater than 10% of the total net revenue for the years ended December 31, 2019, 2020 and 2021. There were accounts receivable due from one of the Payment Channels, and due from two platform distributor customers which individually represented greater than 10% and totally contributed to 76% 56% There were purchases from two suppliers which individually represented greater than 10% and totally contributed to 50% of the total purchases amount for the year ended December 31, 2019. There were purchases from three suppliers which individually represented greater than 10% and totally contributed to 55% of the total purchases amount for the year ended December 31, 2020 and the corresponding accounts payable due to these three suppliers individually represented greater than 9% and totally contributed to 52% of the Group's total accounts payable as of December 31, 2020. There were purchases from two suppliers which individually represented greater than 10% and totally contributed to 31% of the total purchases amount for the year ended December 31, 2021 and the corresponding accounts payable due to these two suppliers individually represented greater than 10% and totally contributed to 35% of the Group's total accounts payable as of December 31, 2021.

Cash and Cash Equivalents and R

Cash and Cash Equivalents and Restricted Cash	12 Months Ended
Cash and Cash Equivalents and Restricted Cash	Dec. 31, 2021
Cash And Cash Equivalents [Abstract]
Cash and Cash Equivalents and Restricted Cash	4. CASH AND CASH EQUIVALENTS AND RESTRICTED CASH Cash and cash equivalents represent cash on hand and demand deposits placed with banks or other financial institutions, and all highly liquid investments with original maturities of three months or less. Cash and cash equivalents and restricted cash balances as of December 31, 2020 and 2021 primarily consist of the following currencies: As of December 31, 2020 2021 Amount RMB Amount RMB Cash and cash equivalents RMB 265,401 265,401 627,058 627,058 US$ 829,774 5,414,276 383,680 2,446,199 GBP - - 5,337 45,931 EUR 5,885 47,226 1,509 10,895 HKD - - 7,879 6,450 JPY - - 17,793 999 SGD 26 126 99 476 Total cash and cash equivalents 5,727,029 3,138,008 Restricted cash RMB 6,363 - Total cash, cash equivalents and restricted cash 5,733,392 3,138,008

Accounts Receivable

Accounts Receivable	12 Months Ended
Accounts Receivable	Dec. 31, 2021
Receivables [Abstract]
Accounts Receivable	5 . ACCOUNTS RECEIVABLE As of December 31, 2020 2021 RMB RMB Accounts receivable 419,317 355,837

Inventories, Net

Inventories, Net	12 Months Ended
Inventories, Net	Dec. 31, 2021
Inventory Disclosure [Abstract]
Inventories, Net	6 . INVENTORIES, NET Inventories, net consisted of the following: As of December 31, 2020 2021 RMB RMB Raw materials and packing materials 56,519 43,922 Products 581,237 759,832 Inventories 637,756 803,754 Less: impairment allowance (20,948) (107,993) Inventories, net 616,808 695,761

Prepayments and Other Current A

Prepayments and Other Current Assets	12 Months Ended
Prepayments and Other Current Assets	Dec. 31, 2021
Other Assets Unclassified [Abstract]
Prepayments and Other Current Assets	7 . PREPAYMENTS AND OTHER CURRENT ASSETS As of December 31, 2020 2021 RMB RMB Prepayments of promotion fees (a) 133,575 130,058 VAT recoverable (b) 92,483 95,899 Deposits, prepaid rental and property management fees 35,021 62,877 Prepayments for products procurement (c) 6,742 6,731 Others 36,820 70,626 304,641 366,191 (a) Prepayments of promotion fees mainly include prepayments made to online platforms for future services to promote the Group’s products through online advertising and prepaid short-term service fees to celebrity agencies and key opinion leaders. (b) VAT recoverable represent the balances that the Group can utilize to deduct its value-added tax liabilities in the future. (c) Prepayments for products procurement represent cash prepaid to the Group’s third-party suppliers for the procurement of products.

Investments

Investments	12 Months Ended
Investments	Dec. 31, 2021
Equity Method Investments And Joint Ventures [Abstract]
Investments	8 . INVESTMENTS The following sets forth the Group's investments: As of December 31, 2020 2021 RMB RMB Equity method investments (a) 23,471 286,513 Equity investments without readily determinable fair Values (b) 11,391 65,226 Total 34,862 351,739 Less: impairment on investments - (1,359) Investment, net 34,862 350,380 (a) As at December 31, 2021 and 2020, the balances represented the Group’s investments made in five and two private entities respectively. (b) As at December 31, 2021 and 2020, the balances represented the Group’s investments made in three and two private entities respectively.

Property and Equipment, Net

Property and Equipment, Net	12 Months Ended
Property and Equipment, Net	Dec. 31, 2021
Property Plant And Equipment [Abstract]
Property and Equipment, Net	9 . PROPERTY AND EQUIPMENT, NET Property and equipment, net consisted of the following: As of December 31, 2020 2021 RMB RMB Leasehold improvements 305,955 353,322 Electronic equipment 32,213 50,290 Machinery 15,562 22,103 Office furniture and equipment 3,818 10,719 Vehicles 4,311 4,317 Construction in progress 2,779 60 Total 364,638 440,811 Less: accumulated depreciation (79,341) (183,145) Less: impairment charges - (12,352) Property and equipment, net 285,297 245,314 The Group recorded depreciation expense of RMB 13,010, RMB 74,551 and RMB 130,666 for the years ended December 31, 2019, 2020 and 2021, respectively. The accumulated impairment loss was RMB 12,352 as of December 31, 2021, which was mainly due to impairment for leasehold improvement for certain offline stores planned to close in first quarter of 2022. No impairment was recorded for the years ended December 31, 2019 and 2020.

Goodwill

Goodwill	12 Months Ended
Goodwill	Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	10. GOODWILL The changes in the carrying amount of goodwill for the years ended December 31, 2020 and 2021 are as follows: Amount RMB Balance as of December 31, 2019 and 2020 20,596 Increase in goodwill related to acquisitions (Note 20) 880,314 Foreign currency translation adjustment (31,489) Balance as of December 31, 2021 869,421 As of December 31, 2021, the goodwill associated with the DR.WU Eve Lom DR.WU Eve Lom No impairment charge was recognized for the years ended December 31, 2019, 2020 and 2021.

Intangible Assets, Net

Intangible Assets, Net	12 Months Ended
Intangible Assets, Net	Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets, Net	1 1 . INTANGIBLE ASSETS, NET As of December 31, 2020 2021 RMB RMB Cost: Trademark 177,805 625,715 Software 15,778 32,942 Customer relationship - 90,479 Technique - 43,085 Non-compete - 6,900 Total cost 193,583 799,121 Less: accumulated amortization (4,493) (53,270) Intangible assets, net 189,090 745,851 During the years ended December 31, 2020 and 2021, the Company acquired intangible assets amounting to nil and RMB622,151, respectively, in connection with business combinations, which were measured at fair value upon acquisition. Details of intangible assets acquired in connection with business combinations are included in Note 20. Amortization costs recognized for the years ended December 31, 2019, 2020 and 2021 were RMB 907, RMB 3,476 and RMB 50,705, respectively. No impairment was recorded for the years ended December 31, 2019, 2020 and 2021. As of December 31, 2021, estimated amortization expenses for future periods are expected to be as follows: Year ended December 31, RMB 2022 54,056 2023 53,718 2024 53,058 2025 52,474 2026 and thereafter 532,545 Total expected amortization expense 745,851 The weighted average amortization periods of intangible assets as of December 31, 2020 and 2021 are 14.1 years and 16.3 years, respectively.

Other Non-Current Assets

Other Non-Current Assets	12 Months Ended
Other Non-Current Assets	Dec. 31, 2021
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Other Non-Current Assets	1 2 . OTHER NON-CURRENT ASSETS As of December 31, 2020 2021 RMB RMB Long-term rental deposits 50,509 42,863 Prepaid service fees - 14,250 Loans to employees - 11,800 Prepaid consideration for an acquisition 95,427 5,040 Prepaid long-term celebrity endorsement fees 3,996 1,804 Others 2,126 4,463 152,058 80,220

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	12 Months Ended
Accrued Expenses and Other Liabilities	Dec. 31, 2021
Payables And Accruals [Abstract]
Accrued Expenses and Other Liabilities	1 3 . ACCRUED EXPENSES AND OTHER LIABILITIES As of December 31, 2020 2021 RMB RMB Accrued payroll related expenses 70,412 114,496 Accrued advertising and marketing expenses 77,948 79,662 Accrued storage and transportation fees 59,631 38,269 Accrued leasehold improvement costs 56,490 33,370 Other taxes payable 83,040 22,886 Payable related to repurchase of ordinary shares - 7,166 Refund obligation of sales return 3,918 4,530 Others 60,505 70,152 411,944 370,531

Leases

Leases	12 Months Ended
Leases	Dec. 31, 2021
Leases [Abstract]
Leases	1 4 . LEASES The Group has operating leases for warehouses, stores, office spaces, and delivery centers that the Group utilizes under lease arrangements. A summary of supplemental information related to operating leases is as follows: As of December 31, 2020 2021 RMB RMB Operating lease ROU assets 536,710 422,966 Operating lease liabilities-non-current 311,910 206,303 Operating lease liabilities-current 215,300 214,843 Total operating lease liabilities 527,210 421,146 Weighted average remaining lease term 2.57years 1.94years Weighted average discount rate 5.41% 5.06% 14. LEASES (Continued) A summary of lease cost recognized in the Group’s consolidated statements of operations and supplemental cashflow information related to operating leases is as follows: Year ended December 31, 2019 2020 2021 RMB RMB RMB Operating lease cost 53,752 179,515 268,321 Short-term lease cost 2,291 4,249 420 Variable cost 1,557 6,396 9,166 Cash paid for operating leases 48,281 168,943 265,997 Right-of-use assets obtained in exchange for operating lease liabilities 295,454 448,148 269,601 A summary of maturity of operating lease liabilities under the Group’s non-cancellable operating leases as of December 31, 2021 is as follows: As of December 31, 2021 RMB 2022 231,314 2023 147,847 2024 43,050 2025 14,644 2026 7,386 2027 and thereafter 2,074 Total lease payment 446,315 Less: interest (25,169) Present value of operating lease liability 421,146

Revenues

Revenues	12 Months Ended
Revenues	Dec. 31, 2021
Revenue From Contract With Customer [Abstract]
Revenue	1 5 . REVENUES The Group’s revenue by channel for the respective periods are detailed as follows: Year ended December 31, 2019 2020 2021 RMB RMB RMB Sales of product by channel —Sales to end customers 2,670,831 4,548,804 4,878,453 —Sales to distributor customers 359,629 678,873 941,322 —Others 707 5,493 20,198 Total revenues 3,031,167 5,233,170 5,839,973

Income Tax Expenses

Income Tax Expenses	12 Months Ended
Income Tax Expenses	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Tax Expenses	1 6 . INCOME TAX EXPENSES Cayman Islands Under the current tax laws of Cayman Islands, the Company and its subsidiaries are not subject to tax on income or capital gains. No Cayman Islands withholding tax is imposed upon payment of dividends by the Company to its shareholders. Hong Kong For the subsidiaries incorporated in Hong Kong, they were subject to Hong Kong profits tax at a rate of 16.5% for taxable income earned in Hong Kong. Commencing on April 1, 2018, the two-tiered profits tax regime took effect, under which the tax rate is 8.25% for assessable profits on the first HK$2 million and 16.5% for any assessable profits in excess of HK$2 million. The payments of dividends to shareholders are not subject to withholding tax in Hong Kong. PRC In accordance with the Enterprise Income Tax Law (“EIT Law”), Foreign Investment Enterprises (“FIEs”) and domestic companies are subject to Enterprise Income Tax (“EIT”) at a uniform rate of 25%. The subsidiaries of the Group and the consolidated VIEs in the PRC are subject to a uniform income tax rate of 25% for years presented. According to a policy promulgated by the State Tax Bureau of the PRC and effective from 2008 onwards, enterprises engaged in research and development activities are entitled to claim an additional tax deduction amounting to 50% of the qualified research and development expenses incurred in determining its tax assessable profits for that year. The additional tax deducting amount of the qualified research and development expenses have been increased from 50% to 75%, effective from 2018 to 2020, according to a new tax incentives policy promulgated by the State Tax Bureau of the PRC in September 2018 (“Super Deduction”). This policy has been extended to 2023, according to the new policy of extending the implementation period of some tax incentives policies promulgated by the State Tax Bureau of the PRC in March 2021. The EIT Law also provides that an enterprise established under the laws of a foreign country or region but whose “de facto management body” is located in the PRC be treated as a resident enterprise for PRC tax purposes and consequently be subject to the PRC income tax at the rate of 25% for its global income. The Implementing Rules of the EIT Law merely define the location of the “de facto management body” as “the place where the exercising, in substance, of the overall management and control of the production and business operation, personnel, accounting, properties, etc., of a non-PRC company is located.” Based on a review of surrounding facts and circumstances, the Group does not believe that it is likely that its entities registered outside of the PRC should be considered as resident enterprises for the PRC tax purposes. The EIT Law also imposes a withholding income tax of 10% on dividends distributed by a FIE to its immediate holding company outside of China, if such immediate holding company is considered as a non-resident enterprise without any establishment or place within China or if the received dividends have no connection with the establishment or place of such immediate holding company within China, unless such immediate holding company’s jurisdiction of incorporation has a tax treaty with China that provides for a different withholding arrangement. The Cayman Islands, where the Company incorporated, does not have such tax treaty with China. According to the arrangement between the mainland China and Hong Kong Special Administrative Region on the Avoidance of Double Taxation and Prevention of Fiscal Evasion issued in August 2006, dividends paid by an FIE in China to its immediate holding company in Hong Kong will be subject to withholding tax at a rate of no more than 5% (if the immediate holding company in Hong Kong is the beneficial owner of the FIE and owns directly at least 25% of the shares of the FIE). In accordance with accounting guidance, all undistributed earnings are presumed to be transferred to the parent company and withholding taxes should be accrued accordingly. All FIEs are subject to the withholding tax from January 1, 2008. The presumption may be overcome if the Group has sufficient evidence to demonstrate that the undistributed dividends from its PRC subsidiaries will be re-invested and the remittance of the dividends from its PRC subsidiaries will be postponed indefinitely. Aggregate undistributed earnings and reserves of the Group entities located in the PRC that are available for distribution to the Company as of December 31, 2020 and 2021 were approximately RMB 46,230 and RMB 54,822, respectively. The Group plans to indefinitely reinvested undistributed earnings earned from its PRC subsidiaries in its operations in PRC. Therefore, no withholding income tax for undistributed earnings of its subsidiaries were provided as at December 31, 2020 and 2021 respectively. Upon distribution of those earnings, the Group would be subject to foreign withholding taxes. Assuming the permanently reinvested foreign earnings were repatriated, the incremental foreign withholding taxes applicable to those earnings would be approximately RMB 2,312 and RMB 2,741 as at December 31, 2020 and 2021, respectively. 16. INCOME TAX EXPENSES (Continued) Composition of income tax expense The current and deferred components of income taxes appearing in the consolidated statements of operations are as follows: Year ended December 31, 2019 2020 2021 RMB RMB RMB Income (loss) before income tax expense 147,335 (2,681,445) (1,547,959) Current tax expense 75,671 3,519 4,507 Deferred tax expense (benefit) (3,695) 3,451 (5,428) Total income tax expense (benefit) 71,976 6,970 (921) The income tax expense for each of the years ended December 31, 2019, 2020 and 2021 differs from the amount computed by applying the PRC statutory income tax rate of 25% to income before income tax expense due to the following: Year ended December 31, 2019 2020 2021 RMB RMB RMB PRC statutory income tax rate 25% 25% 25% Permanent differences 15% -17% -9% Tax effect of different tax rate of different jurisdictions -1% 0% 0% Tax effect of Super Deduction and others -2% 0% 1% Changes in valuation allowance 12% -8% -17% Effective tax rates 49% 0% 0% Deferred tax assets The significant components of the Group's deferred tax assets were as follows: As of December 31, 2020 2021 RMB RMB Net operating loss carry forwards 222,325 470,227 Inventory valuation allowance 5,237 27,048 Accrued expenses and others 11,000 19,225 Total deferred tax assets 238,562 516,500 Less: valuation allowance (237,965) (514,500) Deferred tax assets, net 597 2,000 Movement of valuation allowance Year ended December 31, 2020 2021 RMB RMB Balance at beginning of the year 18,677 237,965 Additions 219,288 276,535 Balance at end of the year 237,965 514,500 16. INCOME TAX EXPENSES (Continued) The valuation allowance is provided against deferred tax assets when the Group determines that it is more likely than not that the deferred tax assets will not be utilized in the future. In making such determination, the Group considered factors including future taxable income exclusive of reversing temporary differences and tax loss carry forwards. Valuation allowances as of December 31, 2020 and 2021 were mainly provided for net operating loss carry forward, because such deferred tax assets are not more likely than not to be realized based on the Group’s estimate of its future taxable income. If events occur in the future that allow the Group to realize more of its deferred income tax than the presently recorded amounts, an adjustment to the valuation allowances will result in a decrease in tax expense when those events occur. Deferred tax liabilities The Group's deferred tax liability was as follows: As of December 31, 2020 2021 RMB RMB Related to acquired intangible assets 1,557 124,450 Uncertain tax positions The Group evaluates the level of authority for each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measures the unrecognized benefits associated with the tax positions. As of December 31 2020, and 2021, the Group did not have any significant unrecognized uncertain tax positions.

Ordinary Shares

Ordinary Shares	12 Months Ended
Ordinary Shares	Dec. 31, 2021
Stockholders Equity [Abstract]
Ordinary Shares	1 7 . ORDINARY SHARES On September 2016, the Company was incorporated as a limited liability company with authorized share capital of US$ 50 divided into 5,000,000,000 ordinary shares of par value US$ 0.00001 each. In July 2019, the Company adopted a dual voting structure on its shares and the Company’s ordinary shares were divided into Class A and Class B ordinary shares, and all of the vested ordinary shares held by the founders were designated as Class B ordinary shares. Holders of Class A ordinary shares are entitled to one vote per share in all shareholders’ meetings, while holders of Class B ordinary shares are entitled to ten votes per share. The number of the Company’s authorized ordinary shares has been revised and reduced accordingly to 4,044,840,121 shares, including 3,130,264,924 Class A ordinary shares and 914,575,197 Class B ordinary shares. On same date, the Company issued 157,846,049 Class B ordinary shares to several founders (Note 19(a)), repurchased 7,713,574 ordinary shares and concurrently issued 7,713,574 Series C preferred shares to investors. In 2020, the share capital transactions are summarized as below: (i) The Company newly authorized 46,277,409 Class B ordinary shares, 68,832,245 Series Seed preferred shares, 66,432,971 Series C preferred shares, 66,432,971 Series D preferred shares, and 144,331,134 Series E preferred shares of a nominal or par value of US$ 0.00001 each, and reduced authorized Class A ordinary shares by 392,306,730 shares. (ii) The Company issued 93,753,239 Class B ordinary shares to several founders, which were subject to service conditions (Note 19(a)). (iii) The Company repurchased 62,388,247 Class B ordinary shares. Concurrently, the Company issued 62,388,247 Series Seed preferred shares to investors. 6,443,998 ordinary shares owned by one of founders were redesignated into preferred shares (Note 19(b)). (iv) The Company issued 15,518,385 Class A ordinary shares as a result of accelerated vesting and exercise of share options (Note 19(d)). (v) The Company issued 149,363,572 Class A ordinary shares and 21,356,415 Class B ordinary shares to share Incentive Plan Trust (Note 19(e)). 17. ORDINARY SHARES (Continued) (vi) On November 19, 2020, the Company completed its IPO on the New York Stock Exchange under the symbol of "YSG". The Company issued an aggregate 67,562,500 ADSs, representing 270,250,000 Class A ordinary shares for a total proceeds, net of issuance costs of $664.7 million (RMB 4.35 billion). Upon completion of the IPO, all convertible redeemable preferred shares were converted into ordinary shares. During the year ended December 31, 2021, 7,686,832 share options were exercised. The Company also repurchased an aggregate of 1,846,823 ADSs, representing 7,387,292 Class A ordinary shares at an average price of RMB 12.0848 per ADS or RMB 3.0212 per Class A ordinary share, for aggregate consideration of RMB 22,319. Since the shares repurchased have not been cancelled, the excess of repurchase price over par value was recorded as treasury shares upon the repurchase date.

Convertible Redeemable preferre

Convertible Redeemable preferred Shares ("Preferred Shares")	12 Months Ended
	Dec. 31, 2021
Temporary Equity Disclosure [Abstract]
Convertible Redeemable Preferred Shares ("Preferred Shares")	18 . CONVERTIBLE REDEEMABLE PREFERRED SHARES (“PREFERRED SHARES”) The following table summarizes the issuances of convertible redeemable preferred shares. Series Issuance Date Shares Issued Issue Price per Share Net Proceeds from Issuance US$ US$ RMB Seed August 1, 2017 200,000,000 0.0050 1,000 6,715 Seed March 25,2020 53,699,985 1.0615 57,000 403,230 Seed April 27, 2020 45,315,250 1.0615 48,100 340,082 Seed April 27, 2020 6,443,998 0.00001 - - Seed July 29, 2020 21,479,994 1.0615 22,800 159,530 Seed September 11, 2020 31,651,271 1.5009 47,505 324,882 A-1 October 9, 2017 66,667,000 0.0150 1,000 6,649 A-2 October 9, 2017 145,038,000 0.0207 3,008 20,000 A-2 October 9, 2017 38,677,000 0.0207 802 5,333 A-2 March 25,2020 15,035,996 1.0615 15,960 112,904 A-2 April 27, 2020 27,923,992 1.1173 31,200 220,593 B-1 September 5, 2018 14,503,820 0.0622 902 6,158 B-2 September 5, 2018 171,289,239 0.0655 11,220 76,594 B-3 October 22, 2018 85,351,118 0.0820 7,000 48,465 B-3+ February 25, 2019 87,075,383 0.1740 15,150 101,704 C July 26, 2019 206,907,594 0.5644 114,814 789,872 C April 27, 2020 26,573,188 0.5644 14,999 105,911 C September 11, 2020 39,859,783 0.5644 22,499 153,866 D March 25, 2020 66,432,971 1.1173 71,868 508,411 E September 11, 2020 144,331,134 1.5799 225,668 1,543,323 The Series Seed preferred shares, the Series A-1 preferred shares and the Series A-2 preferred shares are collectively defined as “Junior preferred shares”, and the Junior preferred shares, the Series B-1 preferred shares, the Series B-2, the Series B-3 preferred shares, the Series B-3+ preferred shares, the Series C preferred shares, the Series D preferred shares and Series E preferred shares are collectively defined as “preferred shares” thereafter. The key terms of the preferred shares are as follows: Conversion right All of the preferred shares are convertible, at the option of the holders at any time after the original issue date of the relevant series of preferred shares into such number of fully paid ordinary shares. Each preferred share was automatically converted into ordinary shares at the then effective conversion price upon the closing of a Qualified IPO. The conversion ratio for each preferred share was determined by dividing the issue price by the then conversion price, in effect at the time of the conversion. The initial conversion price of each class of preferred share was its respective subscription price, and was subject to adjustment in the event of the issuance of additional ordinary shares at a per share price less than the conversion price. 18. CONVERTIBLE REDEEMABLE PREFERRED SHARES (“PREFERRED SHARES”) (Continued) Redemption right At the option of a holder of the preferred shares, the Company redeemed at the redemption price all or any part of the outstanding preferred shares, at any time on or after the earlier of: (i) the redemption start date for each series of preferred shares; or (ii) the date on which a holder of any equity securities of the Company requested a redemption of its shares. Upon issuance of certain rounds of preferred shares, the redemption start dates of certain pre-existing preferred shares were modified to conform with the newly issued preferred shares. (Refer to Modifications and Repurchases of preferred shares below). The Junior preferred shares, B-1, B-2, B-3, B-3+ preferred shares’ redemption price was equal to the respective preferred shares’ issue price compounded with an interest rate of 10% per annum, and C, D, E preferred shares’ redemption price was equal to the respective preferred shares’ issue price calculated with a simple interest rate of 10% per annum, plus all declared but unpaid dividends thereon up to the date of redemption, proportionally adjusted for any share splits, share dividends, share combinations, recapitalizations or the like. Dividend rights Each preferred share had the right to receive non-cumulative dividends, on an as-converted basis, when, as and if declared by the Board. The order of distribution was made from holders of Series E, holders of Series D, holders of Series C preferred shares, holders of Series B preferred shares, to holders of Junior preferred shares. No distribution to Junior preferred shares was made until full payment of the amount distributable on the more senior preferred shares. No dividend was paid on the ordinary shares at any time unless and until all dividends on the preferred shares had been paid in full. No dividends on preferred and ordinary shares had been declared since the issuance date until IPO. Liquidation rights Upon the occurrence of any liquidation event, whether voluntary or involuntary, all assets and funds of the Company legally available for distribution were distributed to the shareholders in the following order and manner: Holders of preferred shares of later series had preference to the distribution of assets or funds over holders of preferred shares of earlier series and holders of ordinary shares, in the following sequence: Series E preferred shares, Series D preferred shares, Series C preferred shares, Series B-3+ preferred shares, Series B-3 preferred shares, Series B-2 preferred shares, Series B-1 preferred shares, and Junior preferred shares. The amount of preference was equal to 100% of the issuance price, calculated with a simple interest rate of 10% per annum, plus any and all declared but unpaid dividends. After distribution to the holder of preferred shares the amount of preference, all remaining assets and funds of the Company available for distribution to the shareholders were distributed ratably among all the shareholders on a fully diluted basis. Voting rights Each preferred share conferred the right to receive notice of, attend and vote at any general meeting of members on an as-converted basis. The holders of the preferred shares voted together with the ordinary shareholders, and not as a separate class or series, on all matters put before the shareholders. 18. CONVERTIBLE REDEEMABLE PREFERRED SHARES (“PREFERRED SHARES”) (Continued) Accounting of preferred shares The Company classified all preferred shares as mezzanine equity in the consolidated balance sheets because they were redeemable at the holders’ option any time after a certain date and are contingently redeemable upon the occurrence of certain liquidation events outside of the Company’s control. The preferred shares were recorded initially at fair value, net of issuance costs. The Company recorded accretion on the preferred shares, where applicable, to the redemption value from the issuance dates to the earliest redemption dates. The accretion, calculated using the effective interest method, was recorded against retained earnings, or in the absence of retained earnings, by charging against additional paid-in capital. Once additional paid-in capital had been exhausted, additional charges were recorded by increasing the accumulated deficit. The accretion of preferred shares was RMB 59,200 and RMB 242,209 for the years ended December 31, 2019 and 2020, respectively. The Company determined that the embedded conversion features and the redemption features did not require bifurcation as they either were clearly and closely related to the preferred shares or did not meet the definition of a derivative. The Company had determined that there was no beneficial conversion feature attributable to all preferred shares because the initial effective conversion prices of these preferred shares were higher than the fair value of the Company’s ordinary shares determined by the Company taking into account independent valuations. Upon completion of the IPO, all preferred shares were converted to 1,301,189,200 Class A ordinary shares. (a) Modifications and Repurchases of Preferred Shares Upon issuance of Series C preferred shares in 2019, the redemption start dates of certain pre-existing preferred shares were modified to conform with the newly issued preferred shares. From both quantitative and qualitative perspectives, the Company assessed the impact of these modifications and concluded that they represent a modification rather than extinguishment of pre-existing preferred shares, and the impact of the modification was immaterial. In the year ended December 31, 2019, the Company repurchased 60,349,275 Junior preferred shares whose book value was RMB 8,676 from shareholders for total consideration of RMB 69,915. Concurrently, the Company issued 60,349,275 Series B-3+ preferred shares for total consideration of RMB 69,915. The difference of RMB 61,239 between the consideration transferred and the book value of repurchased the preferred shares was treated as deemed dividends to preferred shareholders. In the year ended December 31, 2020, the Company repurchased 132,718,241 Junior preferred shares whose book value was RMB 14,379 from shareholders for total consideration of RMB 1,068,599. Concurrently, the Company issued 132,718,241 Junior preferred shares for total consideration of RMB 1,068,599. The difference of RMB 1,054,220 between the consideration transferred and the book value of repurchased the preferred shares was treated as deemed dividends to preferred shareholders. (b) Redesignation of Founder’s Ordinary Shares to Preferred Shares In April 2020, the Company re-designated 6,443,998 ordinary shares owned by one of its founders into preferred shares. The transaction was accounted for as a repurchase of ordinary shares and an issuance of preferred shares. The difference between the fair value of the ordinary share repurchased of RMB 33,290 and fair value of the newly issued preferred shares of RMB 35,142 amounted to RMB 1,852 was recognized as share-based compensation expenses. 18. CONVERTIBLE REDEEMABLE PREFERRED SHARES (“PREFERRED SHARES”) (Continued) The Company’s preferred shares activities for the years ended December 31, 2019, 2020 and 2021 are summarized below: Junior Preferred Shares Series B-1 and B-2 Preferred Shares Series B-3 Preferred Shares Series B-3+ Preferred Shares Series C Preferred Shares Series D Preferred Shares Series E Preferred Shares Total Number of shares Amount (RMB) Number of shares Amount (RMB) Number of shares Amount (RMB) Number of shares Amount (RMB) Number of shares Amount (RMB) Number of shares Amount (RMB) Number of shares Amount (RMB) Number of shares Amount (RMB) Balances as of January 1, 2019 450,382,000 53,209 185,793,059 85,319 85,351,118 49,359 - - - - - - - - 721,526,177 187,887 Repurchase of preferred shares (60,349,275) (8,676) - - - - - - - - - - - - (60,349,275) (8,676) Issuance of preferred shares, net of issuance costs - - - - - - 87,075,383 101,704 206,907,594 789,872 - - - - 293,982,977 891,576 Accretion on preferred shares to redemption value - 2,181 - 8,625 - 4,920 - 8,796 - 34,678 - - - - - 59,200 Balances as of December 31,2019 390,032,725 46,714 185,793,059 93,944 85,351,118 54,279 87,075,383 110,500 206,907,594 824,550 - - - - 955,159,879 1,129,987 Repurchase of preferred shares (132,718,241) (14,379) - - - - - - - - - - - - (132,718,241) (14,379) Issuance of preferred shares, net of issuance costs 195,106,488 1,561,221 - - - - - - 66,432,971 563,404 66,432,971 508,411 144,331,134 1,543,323 472,303,564 4,176,359 Redesignation of Founder’s ordinary shares to preferred shares 6,443,998 35,142 - - - - - - - - - - - - 6,443,998 35,142 Accretion on preferred shares to redemption value - 75,620 - 8,431 - 4,810 - 10,072 - 76,015 - 36,442 - 30,819 - 242,209 Redeemable convertible preferred shares converted into Class A ordinary shares upon the completion of the IPO (458,864,970) (1,704,318) (185,793,059) (102,375) (85,351,118) (59,089) (87,075,383) (120,572) (273,340,565) (1,463,969) (66,432,971) (544,853) (144,331,134) (1,574,142) (1,301,189,200) (5,569,318) Balances as of December 31, 2020 and 2021 - - - - - - - - - - - - - - - -

Share-Based Compensation

Share-Based Compensation	12 Months Ended
Share-Based Compensation	Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Compensation	19 . SHARE-BASED COMPENSATION Share-based compensation expenses recognized during the years presented are as follows: Year ended December 31, 2019 2020 2021 RMB RMB RMB Share-based compensation expenses - Share-based compensation of founders' restricted shares (a) 50,837 1,030,178 - - Related to repurchase of founders’ ordinary shares (b) 24,158 146,294 - - Related to the issuances of preferred shares to investors (c) - 303,627 - - Related to redesignation of founder’s ordinary shares to preferred shares (Note 18(b)） - 1,852 - - Related to accelerated vesting of share options (d) 138,729 66,429 - Related to vesting of share options (f) - 279,908 464,011 Total 74,995 1,900,588 530,440 (a) Founders’ Restricted Shares In August 2017, in connection with the issuance of Series Seed preferred shares, the Group’s founders (collectively, the “ Restricted Founders”) agreed to place all their shares into escrow to be released back to them if specified service condition are met (defined as “First Series of Founders’ Restricted Shares”), which was, 25% of the First Series of Founders’ Restricted Shares were immediately vested and the remaining 75% of the First Series of Founders’ Restricted Shares shall be vested annually in equal instalments over the next three years. Pursuant to ASC 718-10-S99, such escrowed share arrangements are presumed to be compensatory and equivalent to a reverse stock split followed by the grant of restricted stock. Accordingly, the 75% of the First Series of Founders’ Restricted Shares that were subject to the service condition were considered shared based compensation. Subsequently as one founder resigned from the Company in November 2017, all 23,677,500 unvested restricted shares held by this founder were forfeited. In July 2019, the Company granted 157,846,049 ordinary shares to several founders, out of which 7,713,574 ordinary shares were vested immediately on the grant date and 150,132,475 ordinary shares were subject to service conditions (“Second Series of Founders’ Restricted Shares”). The Second Series of Founders’ Restricted Shares vest annually in equal instalments over the next four years commencing from the July 26, 2019. In September 2020, the Company granted 93,753,239 Ordinary shares to several founders, which were subjected to service conditions (“Third Series of Founders’ Restricted Shares”). The Third Series of Founders’ Restricted Shares vest annually in equal instalments over the next four years commencing from the September 11, 2020. All of the Founders’ Restricted Shares vested immediately upon IPO, regardless of the vesting schedule. The fair value of the Founders’ Restricted Shares was determined at the respective grant date by the Company, and was amortized over the respective vesting period on straight line basis. The share-based compensation expenses related to Founders’ Restricted Shares for the years ended December 31, 2019 and 2020 were RMB 50,837 and RMB 1,030,178, respectively. 19. SHARE-BASED COMPENSATION (Continued) (b) Repurchase of ordinary shares from the Founders For the years ended December 31, 2019 and 2020, the Company repurchased 17,197,032 and 62,388,247 ordinary shares, respectively, from the founders for consideration of RMB 41,062 and RMB 483,622, respectively. The Company then re-designated these shares into preferred shares for issuances to other investors. Based on its assessment, the Company concluded that the repurchase did not constitute a cash settlement of any share-based awards. As the respective repurchase price was greater than the fair value of ordinary shares as of the respective repurchase date, the difference between the repurchase price and the fair value was recognized as deemed share-based compensation expenses in the Group's consolidated statements of operations. The share-based compensation expenses related to the repurchase of ordinary shares from the founders for the years ended December 31, 2019 and 2020 were RMB 24,158 and RMB 146,294, respectively. (c) Issuances of preferred shares to investors In April 2020 and September 2020, the Company issued 26,573,188 Series C preferred shares (d) Accelerated vesting of share options In September 2020, 15,518,385 options were accelerated to vest immediately and were exercised on the same date, which was treated as an “improbable-to-probable” modification of equity-classified awards under ASC 718. RMB 138,729, the fair value of modified options at the date of modification, was recognized in the Group’s consolidated statement of operations immediately. For the year ended December 31, 2021, 5,595,868 options were accelerated to vest immediately, which was treated as an “improbable to probable” modification of equity-classified awards under ASC 718. The previously recorded compensation expense for the unvested options amounting to RMB 11,469 was reversed and RMB 77,898, the fair value of modified options at the date of modification, was recognized in the Group’s consolidated statement of operations immediately. (e) Issuances of shares to Share Incentive Plan Trust In August 2020, 170,719,987 ordinary shares were issued to three trusts based on early exercise agreements of the same number of share options. Such shares will continue to be subject to satisfaction of the service and IPO conditions set forth in the applicable equity award agreements. If the aforementioned service and IPO conditions are not satisfied, or the exercise price are not paid, the holders of the share options will not be entitled to the shares issued to the trusts. Thus, the Company still consider the equity award as share options from accounting perspective. There is no incremental fair value change immediately before and after the modification of the aforementioned 170,719,987 share options. Consequently, no modification accounting is applied. (f) Vesting of share options The Group have adopted a Share Option Plan in September 2018, which was amended and restated respectively in July 2019, March 2020 and September 2020. The Share Option Plan shall be valid and effective for ten years from September 11, 2020. The maximum aggregate number of ordinary shares which may be issued pursuant to all awards under Share Option Plan is 249,234,508. (i) Options Grant of options During the year ended December 31, 2019, 2020 and 2021, the Company granted 62,896,041 share options, 136,230,857 share options and 55,388,338, respectively, to its management and other key employees. 19. SHARE-BASED COMPENSATION (Continued) (f) Vesting of share options (Continued) (i) Options (Continued) Vesting of options The share options include both service conditions and performance conditions. With respect to the service conditions, there are 4 types of vesting schedule, which are: (i) 25% of the share options shall become vested on each anniversary of the vesting commencement date for 4 years thereafter; (ii) 100% of the share options shall become vested on anniversary of the vesting commencement date for 1 year thereafter; (iii) three fourteenths one fourteenth Movements in the number of share options granted and their related weighted average exercise prices are as follows: Number of options Weighted average exercise price (US$) Weighted average remaining contractual life (years) Aggregate intrinsic value (US$’000) As of January 1, 2019 67,404,501 0.0065 5.04 Granted 62,896,041 0.0080 Forfeited (3,414,045) 0.0065 Modified from options to restricted shares (58,297,400) 0.0073 As of December 31, 2019 68,589,097 0.0073 4.58 Granted 136,230,857 0.2960 Cancelled (1,849,265) 0.0006 Forfeited (1,544,428) 0.2062 Accelerated vesting and exercised (15,518,385) - As of December 31, 2020 185,907,876 0.2179 13.73 Granted 55,388,338 0.8790 Forfeited (4,570,510) 0.8782 Exercised (7,686,832) 0.0392 As of December 31, 2021 229,038,872 0.3706 12.98 38,230 Exercisable as of December 31, 2021 52,682,699 23,460 The Company has used binomial option-pricing model to determine the fair value of the share options as of the grant dates. Key assumptions are set as below: 19. SHARE-BASED COMPENSATION (Continued) (f) Vesting of share options (Continued) Year ended December 31, 2019 2020 2021 RMB RMB RMB Weighted average fair value per option granted 1.0360 7.3798 1.3882 Weighted average exercise price 0.0554 2.0418 5.6699 Risk-free interest rate (1) 1.9%~2.8% 0.48%~1.01% 1.45%-1.97% Expected term (in year) (2) 4~7 10~16 14 Expected volatility (3) 45.0%~48.0% 50.9%~55.9% 54.69%-57.00% Dividend yield (4) 0% 0% 0% (1) The risk-free interest rates of periods within the contractual life of the share option are based on the daily treasury long-term rate of U.S. Department of the Treasury as of the valuation dates. (2) The expected term is the contract life of the option. (3) Expected volatility is estimated based on the average of historical volatilities of the comparable companies in the same industry as at the valuation dates. (4) The Company has no history or expectation of paying dividend on its ordinary shares. The expected dividend yield was estimated based on the Company’s expected dividend policy over the expected term of the option. For the years ended December 31, 2019, 2020 and 2021, nil As of December 31, 2021, there were RMB 645,171 of unrecognized compensation expenses related to stock options for which the service conditions will be met over a weighted average period of 1.67 years. (g) Share-based compensation expenses For the years ended December 31, 2019, 2020 and 2021, share-based compensation expenses have been included in the following accounts in the consolidated statement of operations: Year ended December 31, 2019 2020 2021 RMB RMB RMB Fulfilment expenses - 2,947 13,122 Selling and marketing expenses - 54,332 80,558 General and administrative expenses 74,995 1,841,409 418,823 Research and development expenses - 1,900 17,937

Business Combinations

Business Combinations	12 Months Ended
Business Combinations	Dec. 31, 2021
Business Combinations [Abstract]
Business Combinations	20. BUSINESS COMBINATIONS Intangible assets acquired, redeemable non-controlling interests and goodwill recognized in connection with business combinations of DR.WU Eve Lom DR.WU Dr. Wu Note (a) Eve Lom Note (b) Total RMB RMB RMB Redeemable non-controlling interests 19,223 319,364 338,587 Intangible assets 52,840 569,311 622,151 Goodwill 134,433 742,623 877,056 206,496 1,631,298 1,837,794 The Group applied significant judgement in determining the fair value of the intangible assets and non-controlling interests, including significant assumptions and estimates for revenue growth rates and the discount rates and, in the case of the redeemable non-controlling interests, gross profit ratios. The Group utilized the services of an independent valuation firm to assist with the determination of the fair value of the intangible assets and redeemable non-controlling interests. (a) Acquisition of DR.WU mainland China business In January 2021, the Group completed the acquisition of 90% shareholder’s ownership of DR.WU Pursuant to the sale and purchase agreements of the acquisitions of DR.WU 20. BUSINESS COMBINATIONS (Continued) (a) Acquisition of DR.WU mainland China business (Continued) The consideration of the acquisition of DR.WU Amount RMB Cash consideration 166,350 Redeemable non-controlling interest 19,223 Total 185,573 Amount Estimated useful lives RMB RMB Cash and cash equivalents acquired 5,158 Inventories acquired 5,447 Other assets acquired 5,353 Intangible assets acquired 52,840 - Trademark (1) 45,940 15 years - Non-compete (2) 6,900 5 years Liabilities assumed (4,448) Deferred tax liabilities (13,210) Goodwill (3) 134,433 Total 185,573 (1) The main tradename “DR.WU” was founded in 2003 in Taiwan and is considered as the key factor for attracting customers and generating revenue in the future. Therefore, the "Trademark" has been identified as an intangible asset given the potential economic benefits to be generated. (2) According to the share purchase agreement, the seller of DR.WU mainland China business shall not compete in mainland China with the Group, including but not limited to, selling or permitting any third party to sell any product in connection with the target business in mainland China . Therefore, the "Non-compete" has been identified as an intangible asset given the potential economic benefits to be generated. (3) Total goodwill of RMB 134,433 primarily represents the expected synergies from combining operations of the acquired business with those of the Group, which expect to be complementary to each other. The goodwill recognized was not expected to be deductible for income tax purpose. 20. BUSINESS COMBINATIONS (Continued) (b) Eve Lom Acquisition of Eve Lom business In March 2021, the Group completed the acquisition of 90% shareholder’s ownership of Eve Lom Pursuant to the sale and purchase agreements of the acquisition of Eve Lom Eve Lom The consideration of the acquisition of Eve Lom Amount RMB Cash consideration 965,001 Redeemable non-controlling interest 319,364 Total 1,284,365 Amount Estimated useful lives RMB RMB Cash and cash equivalents acquired 41,303 Inventories acquired 49,698 Accounts receivable acquired 29,393 Other assets acquired 35,780 Intangible assets acquired 569,311 - Trademark (1) 422,413 20 years - Customer relationship (2) 94,369 10 years - Technique (3) 44,938 10 years - Software 7,591 3-10 years Accrued expenses and other liabilities assumed (28,674) Accounts payable assumed (17,675) Other liabilities assumed (15,899) Deferred tax liabilities (121,495) Goodwill (4) 742,623 Total 1,284,365 (1) The main tradename “ EVE LOM ” was built in 1984 and is considered as the key factor for attracting customers and generating revenue in the future. Thus, the "Trademark" has been identified as an intangible asset given the potential economic benefits to be generated. 20. BUSINESS COMBINATIONS (Continued) ( b ) Eve Lom Acquisition of Eve Lom business (Continued) (2) Eve Lom develops steady relationship with a local agency in the Europe and the U.S. The customer relationship is considered as one of the key factors for international growth of Eve Lom . Therefore, the " Customer relationship " has been identified as an intangible asset given the potential economic benefits to be generated. (3) Eve Lom develops the unique technique that blends naturally-derived ingredients and essential oils for their skincare products. The technique is considered as one of the key factors to create its cleanser and generate revenue in the future. Therefore, the "Technique" has been identified as an intangible asset given the potential economic benefits to be generated. (4) Total goodwill of RMB 742,623 primarily represents the expected synergies from combining operations of the acquired business with those of the Group, which expect to be complementary to each other. The goodwill recognized was not expected to be deductible for income tax purpose. Pro forma results of operations for all the acquisitions have not been presented because they were not material to the consolidated statements of operations for the year ended December 31, 2021, either individually or in aggregate.

Net Loss Per Share

Net Loss Per Share	12 Months Ended
Net Loss Per Share	Dec. 31, 2021
Earnings Per Share [Abstract]
Net Loss Per Share	2 1 . NET LOSS PER SHARE Basic and diluted net income (loss) per share for the years ended December 31, 2019, 2020 and 2021 are calculated as follow: Year ended December 31, 2019 2020 2021 RMB RMB RMB Numerator: Net income (loss) attributable to the Yatsen Holding Limited’s shareholders 75,359 (2,687,807) (1,540,734) Accretion to preferred shares redemption value (59,200) (242,209) - Deemed dividend due to modification of preferred shares (61,239) (1,054,220) - Net loss attributable to ordinary shareholders of Yatsen Holding Limited (45,080) (3,984,236) (1,540,734) Denominator: Denominator for basic and diluted calculation—weighted average number of ordinary shares outstanding 450,499,736 833,714,126 2,526,833,201 Net loss per ordinary share —Basic (0.10) (4.78) (0.61) —Diluted (0.10) (4.78) (0.61) For the years ended December 31, 2019, 2020 and 2021, the following shares outstanding were excluded from the calculation of diluted net income (loss) per ordinary share, as their inclusion would have been anti-dilutive for the years prescribed. Year ended December 31, 2019 2020 2021 Shares issuable upon conversion of preferred shares 834,357,412 959,555,911 - Shares issuable upon exercise of share options 85,255,920 113,142,382 209,409,699 Restricted shares become outstanding upon vesting 380,772,174 256,752,927 -

Related Party Transactions

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	2 2 . RELATED PARTY TRANSACTIONS Major transactions and balances amount with related parties were as follows: Transactions with related parties Year ended December 31, 2019 2020 2021 RMB RMB RMB Purchases of storage and transportation service from an affiliated company - 15,183 13,843 Purchases of inventories and services from an affiliated company 389 - 24,472 Affiliated company is a company over which the Group has significant influence. Balance amounts with related parties As of December 31, 2020 2021 RMB RMB Amounts due from a founder of the Group 13,050 - Amounts due from affiliated companies 1,320 60 14,370 60 Amounts due to an affiliated company 11,814 13,967

Fair Value Measurements

Fair Value Measurements	12 Months Ended
Fair Value Measurements	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	2 3 . FAIR VALUE MEASUREMENTS Fair value reflects the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the assets or liabilities. The Group applies a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument's categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. This guidance specifies a hierarchy of valuation techniques, which is based on whether the inputs into the valuation technique are observable or unobservable. The hierarchy is as follows: Level 1—Valuation techniques in which all significant inputs are unadjusted quoted prices from active markets for assets or liabilities that are identical to the assets or liabilities being measured. Level 2—Valuation techniques in which significant inputs include quoted prices from active markets for assets or liabilities that are similar to the assets or liabilities being measured and/or quoted prices for assets or liabilities that are identical or similar to the assets or liabilities being measured from markets that are not active. Also, model-derived valuations in which all significant inputs and significant value drivers are observable in active markets are Level 2 valuation techniques. Level 3—Valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Unobservable inputs are valuation technique inputs that reflect the Group's own assumptions about the assumptions that market participants would use in pricing an asset or liability. The fair value guidance describes three main approaches to measure the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. 2 3. FAIR VALUE MEASUREMENTS (Continued) Recurring The Group has no financial instruments measured or disclosed at fair value on a recurring basis as at December 31,2020 and 2021. When available, the Group uses quoted market prices to determine the fair value of an asset or liability. If quoted market prices are not available, the Group will measure fair value using valuation techniques that use, when possible, current market-based or independently sourced market parameters, such as interest rates and currency rates. Non-Recurring As of December 31, 2020 and 2021, the Group had no financial assets or financial liabilities that are measured in fair value on a non-recurring basis. The equity securities without readily determinable fair value, equity method investments and certain non-financial assets are recorded at fair value only if an impairment or observable price adjustment is recognized in the current period. If an impairment or observable price adjustment is recognized on the equity securities during the period, the Group classify these assets as Level 3 within the fair value hierarchy based on the nature of the fair value inputs. The Group reviews the long-lived assets and certain identifiable intangible assets other than goodwill for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. In accordance with the Group policy to perform an impairment assessment of its goodwill on an annual basis as of the balance sheet date or when facts and circumstances warrant a review, the Group performed an impairment assessment on its goodwill of reporting units annually. Other than the equity investments without readily determinable fair value (Note 8) and property and equipment, net (Note 9) , the Group did not have any assets and liabilities that were measured at fair value on a nonrecurring basis.

Commitments And Contingencies

Commitments And Contingencies	12 Months Ended
Commitments And Contingencies	Dec. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	2 4 . COMMITMENTS AND CONTINGENCIES (a) Capital commitment As at December 31, 2021, the Group had capital commitments of RMB480,000 related to investments in a joint venture. (b) Operating lease commitment The Group didn't have outstanding commitment of operating lease contracted but not yet reflected in the consolidated financial statements as of December 31, 2021. (c) Products and services purchase commitment As at December 31, 2021, the Group’s products and services purchase commitment amounted to RMB 208,937. ( d ) Legal proceedings From time to time, the Group is subject to legal proceedings, investigations and claims incidental to the conduct of its business. As of December 31, 2020 and, 2021, the Group was not involved in any legal or administrative proceedings that the Group believes may have a material adverse impact on the Group's business, balance sheets or results of operations and cash flows.

Subsequent Events

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	2 5 . SUBSEQUENT EVENTS The Group evaluated events subsequent to the balance sheet date of December 31, 2021 through the date of issuance of the consolidated financial statements, and concluded that no subsequent events have occurred that would require recognition or disclosure in the consolidated financial statements other than as discussed below. In March 2022, the Board of the Company resolved to modify exercise price for certain share options. Such modification of exercise price will lead to recognition of additional share-based compensation expenses which is estimated to be approximately RMB100,000 which will be charged to the Group’s consolidated statements of operations over the remaining requisite service period. In March 2022, the Company granted 61,032,143 shares of options to its employees and independent directors pursuant to the Company's 2020 Share Incentive plan. These options have a vesting period of four years of employment services with 25% of the share options become vested on anniversary of vesting commencement date for four years thereafter.

Restricted Net Assets

Restricted Net Assets	12 Months Ended
Restricted Net Assets	Dec. 31, 2021
Receivables [Abstract]
Restricted Net Assets	2 6 . RESTRICTED NET ASSETS Relevant PRC laws and regulations permit payment of dividends by the Group's entities incorporated in the PRC only out of their retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. In addition, the Group's entities in the PRC are required to annually appropriate 10% of their net after-tax income to the statutory surplus reserve fund prior to payment of any dividends, unless such reserve funds have reached 50% of their respective registered capital. As a result of these and other restrictions under PRC laws and regulations, the Group's entities and the VIEs subsidiary incorporated in the PRC are restricted in their ability to transfer a portion of their net assets to the Company either in the form of dividends, loans or advances, which restricted portion as calculated under U.S. GAAP amounted to RMB 1,048,079 as of December 31, 2021. There is no significant difference between U.S. GAAP and PRC accounting standards in connection with the reported net assets of the legally owned subsidiaries in the PRC and the VIEs. Even though the Company currently does not require any such dividends, loans or advances from the PRC entities for working capital and other funding purposes, the Company may in the future require additional cash resources from them due to changes in business conditions, to fund future acquisitions and development, or merely to declare and pay dividends or distributions to its shareholders. Except for the above, there is no other restriction on the use of proceeds generated by the Group's subsidiaries and the VIEs to satisfy any obligations of the Company. The Company performed a test on the restricted net assets of consolidated subsidiaries in accordance with Securities and Exchange Commission Regulation S-X Rule 4-08 (e) (3), “General Notes to Financial Statements” and concluded that the restricted net assets did not exceed 25% of the consolidated net assets of the Company as of December 31, 2021 and it was not applicable for the Company to disclose the condensed financial information of the parent company. Cash transfers from the Company’s PRC subsidiaries to their parent companies outside of China are subject to PRC government control of currency conversion. Shortages in the availability of foreign currency may temporarily restrict the ability of the PRC subsidiaries and consolidated affiliated entities to remit sufficient foreign currency to pay dividends or other payments to the Company, or otherwise satisfy their foreign currency denominated obligations.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
Significant Accounting Policies (Policies)	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of presentation	(a) Basis of presentation The consolidated financial statements of the Group have been prepared in accordance with U.S. GAAP. Significant accounting policies followed by the Group in the preparation of the consolidated financial statements are summarized below.
Basis of consolidation	(b) Basis of consolidation The Group's consolidated financial statements include the financial statements of the Company, its subsidiaries and VIEs for which the Company or its subsidiary is the primary beneficiary. A subsidiary is an entity in which the Company, directly or indirectly, controls more than one half of the voting powers; or has the power to appoint or remove the majority of the members of the board of directors; or to cast a majority of votes at the meeting of directors; or has the power to govern the financial and operating policies of the investee under a statute or agreement among the shareholders or equity holders. A VIE is an entity in which the Company, or its subsidiary, through contractual agreements, bears the risks of, and enjoys the rewards normally associated with ownership of the entity, and therefore the Company or its subsidiary is the primary beneficiary of the entity. All transactions and balances among between the Company, its subsidiaries and VIEs have been eliminated upon consolidation.
Use of estimates	( c ) Use of estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and accompanying notes. Significant accounting estimates reflected in the Group's consolidated financial statements include revenue recognition, inventory impairment, goodwill impairment assessment, determination of fair value of preferred shares, fair value of share options granted to employees, fair value of assets and liabilities acquired in business combinations, valuation allowance for deferred tax assets, the discount rate for lease. The management bases the estimates and judgments on historical information and on various other assumptions that management believes are reasonable under the circumstances. Actual results could differ materially from such estimates.
Functional currency and foreign currency translation	2. SIGNIFICANT ACCOUNTING POLICIES (Continued) ( d ) Functional currency and foreign currency translation The Group uses Renminbi (“RMB”) as its reporting currency. The functional currency of the Company and its subsidiaries incorporated in Cayman Islands is United States dollar (“US$”), in Hong Kong is US$ or Hong Kong dollar (“HKD”), in United Kingdom is Great Britain Pound (“GBP”), in France is Euro (“EUR”), and in Japan is Japanese Yen (“JPY”) while the functional currency of the Group’s entities in PRC is RMB, which is their respective local currency. In the consolidated financial statements, the financial information of the Company and its subsidiaries, which use foreign currency as their functional currency, have been translated into RMB. Assets and liabilities are translated at the exchange rates on the balance sheet date, equity amounts are translated at historical exchange rates, and revenues, expenses, gains, and losses are translated using the average exchange rate for the period. Translation adjustments arising from these are reported as foreign currency translation adjustments and are shown as a component of other comprehensive income (loss) in the consolidated statement of comprehensive income (loss). Foreign currency transactions denominated in currencies other than functional currency are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are remeasured at the applicable rates of exchange in effect at that date. Foreign exchange gains and losses resulting from the settlement of such transactions and from remeasurement at year-end are recognized in foreign currency exchange gains (losses), net in the consolidated statement of operations.
Convenience translation	( e ) Convenience translation Translations of balances in the consolidated balance sheets, consolidated statements of operations, consolidated statements of comprehensive income (loss) and consolidated statements of cash flows from RMB into US$ as of and for the year ended December 31, 2021 are solely for the convenience of the reader and were calculated at the noon buying rate of US$ 1.00 = RMB 6.3726 on December 30, 2021 as set forth in the H.10 statistical release of the U.S. Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate on December 31, 2021, or at any other rate.
Cash and cash equivalents	( f ) Cash and cash equivalents Cash and cash equivalents consist of cash on hand, demand deposits and highly liquid investments with original maturity of less than three months. Cash and cash equivalents are placed with financial institutions with high-credit ratings and quality.
Restricted cash	(g) Restricted cash Restricted cash primarily represents cash reserved in relation to litigations. For the years ended December 31,2020 and 2021, the restricted cash amounted to RMB 5,715 and nil, respectively
Accounts receivable	( h ) Accounts receivable Accounts receivable are stated at the historical carrying amount net of allowance for doubtful accounts. The accounts receivable mainly include receivables from platform distributor customers, wholesale customers and independent payment channels or payment channel functions operated by platforms, who collect from end customers on behalf of the Group before the Group’s delivery of products (“Payment Channels”). The receivables from platform distributor customers and wholesale customers are settled in accordance with credit terms mutually agreed. The receivable from Payment Channels is settled upon pre-agreed days after the Group delivers products to end customers, or when customers confirm their receipts of products, whichever is earlier. The allowance for doubtful accounts reflects the Group’s best estimate of expected losses. Before January 1, 2020, the Group determines the allowance for doubtful accounts based on an assessment of historical collection activity, the current business environment and forecasts that may affect the customers' ability to pay. From January 1, 2020, the Group determines the expected credit loss provisions based on ASC Topic 326, detailed as Note 2(i).
Expected credit losses	( i ) Expected credit losses The Group adopted the accounting standards update of ASC Topic 326 and several associated ASUs related to the measurement of credit losses on January 1, 2020 using a modified retrospective approach, which did not have a material impact on retained earnings (accumulated deficit). 2. SIGNIFICANT ACCOUNTING POLICIES (Continued) ( i ) Expected credit losses (Continued) The Group’s accounts receivable and other receivables classified as other current assets and other non-current assets are within the scope of ASC Topic 326. The Group has identified the relevant risk characteristics of its customers and the related receivables and other receivables which include size, type of the services or products the Group provides, or a combination of these characteristics. Receivables with similar risk characteristics have been grouped into pools. For each pool, the Group considers the historical credit loss experience, current economic conditions, supportable forecasts of future economic conditions, and any recoveries in assessing the lifetime expected credit losses. Other key factors that influence the expected credit loss analysis include customer demographics, payment terms offered in the normal course of business to customers, and industry-specific factors that could impact the Group’s receivables. The Group also provides specific provisions for allowance when facts and circumstances indicate that the receivable is unlikely to be collected. Expected credit losses for accounts receivable are recorded as general and administrative expenses on the consolidated statements of operations. The Group’s accounts receivable primarily include (i) receivables from the e-commerce platform distributors who sell products to their end customers on prepayment term and therefore are subject to limited credit loss risk from their customers, and (ii) receivables from Payment Channels who collect from the Group’s end customers on behalf of the Group before the delivery of products. Based on such industry practice and considering no significant bad debt expense incurred historically, the Group expected no significant credit losses will be incurred for accounts receivable due from these two types of customers.
Inventories, net	( j ) Inventories, net Inventories are stated at the lower of cost or net realizable value. Cost is determined using the weighted average method. Impairment is made for excessive, slow moving, expired and obsolete inventories as well as for inventories with carrying values in excess of market. Certain factors could impact the realizable value of inventory, so the Group continually estimated the net realizable value based on assumptions relating to the demand forecast for inventories, including potential product obsolescence, sales strategy, and marketability of inventories. The estimation may take into consideration historical usage, inventory aging, expiration date, expected demand, anticipated sales price, new product development schedules, the effect new products might have on the sale of existing products, product obsolescence, customer concentrations, and other factors. The impairment is equal to the difference between the cost of inventory and the estimated net realizable value based upon assumptions about future demand and market conditions. If actual market conditions are less favorable than those projected by management, additional inventory impairment may be required that could negatively impact the Group’s gross margin and operating results. If actual market conditions are more favorable, the Group may have higher gross margin when products that have been previously provided for are eventually sold.
Property and equipment, net	( k ) Property and equipment is carried at cost less accumulated depreciation and impairment, if any. Depreciation is calculated on a straight-line basis over the following estimated useful lives. Category Estimated useful lives Machinery 3-10 years Electronic equipment 3 years Office furniture and equipment 3 -5 years Vehicles 4 years Leasehold improvements Shorter of the term of the lease or the estimated useful lives of the assets Repairs and maintenance costs are charged to expenses as incurred, whereas the costs of renewals and betterment that extend the useful lives of property and equipment are capitalized as additions to the related assets. The Group recognizes the gain or loss on the disposal of property and equipment in the consolidated statements of operations. Construction in progress represents direct costs that are related to the construction of property and equipment and incurred in connection with bringing the assets to their intended use. The costs of construction in progress are transferred to specific property and equipment accounts and the depreciation of these assets commences when the assets are ready for their intended use.
Intangible assets, net	( l ) Intangible assets, net Intangible assets purchased from third parties are initially recorded at cost and amortized on a straight-line basis over the estimated economic useful lives. The acquired intangible assets are recognized and measured at fair value and are expensed or amortized using the straight-line approach over the estimated economic useful lives of the assets. The estimated useful lives of intangible assets are as follows: Category Estimated useful lives Trademarks 9-20 years Software 5 years Customer Relationship 10 years Techniques 10 years Non-compete 5 years
Goodwill	( m ) Goodwill Goodwill represents the excess of the purchase price over the amounts assigned to the fair value of the identifiable assets acquired and the liabilities assumed of an acquired business. The Group conducts an impairment test as of December 31 of each year, or more frequently if events or circumstances indicate that the carrying value of goodwill may be impaired. Prior to the adoption of ASU No. 2017-04, the Group performs a two-step goodwill impairment test. The first step compares the fair values of each reporting unit to its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill is not considered impaired and the second step will not be required. If the carrying amount of a reporting unit exceeds its fair value, the second step compares the implied fair value of the affected reporting unit’s goodwill to the carrying value of that goodwill. The implied fair value of goodwill is determined in a manner similar to accounting for a business combination with the allocation of the assessed fair value determined in the first step to the assets and liabilities of the reporting unit. The excess of the fair value of the reporting unit over the amounts assigned to the assets and liabilities is the implied fair value of goodwill. An impairment loss is recognized for any excess in the carrying value of goodwill over the implied fair value of goodwill. The judgment in estimating the fair value of reporting units includes estimating future cash flows, determining appropriate discount rates and making other assumptions. Changes in these estimates and assumptions could materially affect the determination of the fair value of each reporting unit. In January 2017, the FASB issued ASU No. 2017-04, Simplifying the Test for Goodwill Impairment by removing Step 2. Potential impairment is identified by comparing the fair value of a reporting unit to the unit’s carrying value, including goodwill. An impairment charge is recorded, when necessary, for the amount by which the carrying amount exceeds the reporting unit’s fair value, up to a maximum amount of the goodwill balance for the reporting unit. An entity still has the option to perform a qualitative assessment to determine if the quantitative impairment test is necessary. The initial impact of applying ASU 2017-04 on consolidated financial statements has no impact to the retained earnings (accumulated deficit) as of January 1, 2020. No impairment provision was made for the years ended December 31, 2019, 2020 and 2021.
Business combination	(n) Business combination Business combinations are recorded using the purchase method of accounting, and the cost of an acquisition is measured as the aggregate of the fair values at the date of exchange of the assets given, liabilities incurred, and equity instruments issued as well as the contingent considerations and all contractual contingencies as of the acquisition date. The costs directly attributable to the acquisition are expensed as incurred. Identifiable assets, liabilities and contingent liabilities acquired or assumed are measured separately at their fair value as of the acquisition date, irrespective of the extent of any non-controlling interests. The excess of the (i) the total of consideration paid, fair value of the non-controlling interests and acquisition date fair value of any previously held equity interest in the subsidiary acquired over (ii) the fair value of the identifiable net assets of the subsidiary acquired is recorded as goodwill. If the consideration of acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the consolidated statements of comprehensive income. 2. SIGNIFICANT ACCOUNTING POLICIES (Continued) (n) Business combination (Continued) The redeemable non-controlling interests is recognized at fair value on the acquisition date. The Group records accretion on the redeemable non-controlling interest to the redemption value over the period from the date of the acquisition to the date of earliest redemption. The accretion using the effective interest method, is recorded as deemed dividends to preferred shareholders, which reduce retained earnings and equity classified non-controlling interests, and earnings available to common shareholders in calculating basic and diluted earnings per share. The process of adjusting redeemable non-controlling interests to its redemption value (the “Mezzanine Adjustment”) should be performed after attribution of the subsidiary’s net income or loss pursuant to ASC 810, Consolidation. The carrying amount of redeemable non-controlling interests will equal the higher of the amount resulting from application of ASC 810 or the amount resulting from the Mezzanine Adjustment. As the expected redemption value is less than the carrying value of redeemable non-controlling interests, there is nil mezzanine adjustment recognized for the year ended December 31, 2021. The Group treats transactions with non-controlling interests that do not result in a loss of control as transactions with equity owners of the Group. A change in ownership interest results in an adjustment between the carrying amounts of the controlling and non-controlling interests to reflect their relative interests in the subsidiary. Any difference between the amount of the adjustment to non-controlling interests and any consideration paid or received is recognised in additional paid-in capital.
Investments	( o ) Investments 1) Equity investments accounted for using the equity method The Group accounts for its equity investments over which it has significant influence but does not own a majority equity interest or otherwise control using the equity method. The Group adjusts the carrying amount of the investment and recognizes investment income or loss for its share of the earnings or losses of the investee after the date of investment. 2) Equity investments without readily determinable fair values The Group elected to record equity investments without readily determinable fair values and not accounted for by the equity method at cost, less impairment, adjusted for subsequent observable price changes, and will report changes in the carrying value of the equity investments in current earnings. Changes in the carrying value of the equity investment will be required to be made whenever there are observable price changes in orderly transactions for the identical or similar investment of the same issuer. The Group monitors its investments for other-than-temporary impairment by considering factors including, but not limited to, current economic and market conditions, the operating performance of the companies including current earnings trends and other company-specific information.
Impairment of long-lived assets	( p ) Impairment of long-lived assets Long-lived assets are evaluated for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying value of an asset may not be fully recoverable or that the useful life is shorter than the Group had originally estimated. When these events occur, the Group evaluates the impairment for the long-lived assets by comparing the carrying value of the assets to an estimate of future undiscounted cash flows expected to be generated from the use of the assets and their eventual disposition. If the sum of the expected future undiscounted cash flows is less than the carrying value of the assets, the Group recognizes an impairment loss based on the excess of the carrying value of the assets over the fair value of the assets.
Leases	( q ) In February 2016, the FASB issued ASC 842, Leases, to require lessees to recognize all leases, with certain exceptions, on the balance sheet, while recognition on the operations will remain similar to lease accounting under ASC 840. Subsequently, the FASB issued ASU No. 2018-10, Codification Improvements to Topic 842, Leases, ASU No. 2018-11, Targeted Improvements, ASU No. 2018-20, Narrow-Scope Improvements for Lessors, and ASU 2019-01, Codification Improvements, to clarify and amend the guidance in ASU No. 2016-02. As a lessee Operating lease The Group early adopted the ASUs as of January 1, 2018 using the modified retrospective approach. The adoption impact was immaterial. Upon adoption, the Group elected the package of practical expedients permitted under the transition guidance within the new standard, which allowed the Group to carry forward the historical determination of contracts as leases, lease classification and not reassess initial direct costs for historical lease arrangements. In addition, the Group also elected the practical expedient to apply consistently to all of the Group’s leases to use hindsight in determining the lease term (that is, when considering lessee options to extend or terminate the lease and to purchase the underlying asset) and in assessing impairment of the Group’s right-of-use assets. The Group includes a right-of-use asset and lease liability related to substantially all of the Group’s lease arrangements in the consolidated balance sheets. All of the Group’s leases are operating leases. Operating lease assets are included within right-of-use assets, and the corresponding lease liabilities are included in either current or long-term liabilities. The Group has elected not to present short-term leases on the consolidated balance sheet as these leases have a lease term of 12 months or less at commencement date of the lease and do not include options to purchase or renew that the Group is reasonably certain to exercise. The Group recognizes lease expenses for such short-term lease generally on a straight-line basis over the lease term. All other lease assets and lease liabilities are recognized based on the present value of lease payments over the lease term at commencement date. Because most of the Group’s leases do not provide an implicit rate of return, the Group uses the Group’s incremental borrowing rate based on the information available at adoption date or lease commencement date in determining the present value of lease payments.
Mezzanine equity	( r ) Mezzanine equity Mezzanine equity represents the preferred shares issued by the Company. The preferred shares were redeemable at the holders’ option any time after a certain date and are contingently redeemable upon the occurrence of certain liquidation events outside of the Company’s control. Therefore, the Group classified all of the preferred shares as mezzanine equity (Note 18). In accordance with ASC 480-10, the mezzanine equity is initially measured based on its fair value at date of issuance. The preferred shares can be converted either voluntarily before a qualified initial public offering (“Qualified IPO”, referring to a public offering of ordinary shares of the Company registered under the Securities Act and with an implied pre-money valuation of US$5,000,000 or more) or automatically upon a Qualified IPO. The Company accreted changes in the redemption value over the period from the date of issuance to the earliest redemption date of the instrument using the interest method. According to ASC 480-10-S99-2, where fair value at date of issuance is less than the mandatory redemption amount, the carrying amount is to be increased by periodic accretions, using the interest method, so that the carrying amount will equal the mandatory redemption amount at the mandatory redemption date. Each increase in carrying amount is to be recorded as charges against retained earnings or, in the absence of retained earnings, as charges against additional paid-in capital until additional paid-in capital is reduced to zero.
Revenue recognition	( s ) Revenue recognition The Group adopted ASC 606 for all periods presented. According to ASC 606, revenue is recognized when control of the promised good or service is transferred to the customer in an amount that reflects the consideration the Group expects to receive in exchange for those goods or services, after considering estimated sales return allowances, price concessions, discount and value added tax (“VAT”). Consistent with the criteria of Topic 606, the Group follows five steps for its revenue recognition: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract, and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The Group’s revenues are primarily derived from (i) sales of the Group’s products to third party platform distributor customers and wholesale customers who then sell to end customers and (ii) sales of the Group’s products to end customers directly through the Group’s online stores run on third party e-commerce platforms and through offline stores operated by the Group. Refer to Note 15 to the consolidated financial statements for disaggregation of the Group's revenues for the years ended December 31, 2019, 2020 and 2021. The Group enters into two types of agreements with third party e-commerce platforms: 1) Distribution Agreements Under the distribution agreements, the platform distributor customers purchase products from the Group and sell to end customers under the platform distributor customer’s name. According to the agreements, the platform distributor customers take control of the products and are entitled to rights of return and price protection. After taking control of the products, the platform distributor customer is responsible for selling and fulfilling all obligations in its sales contracts with end customers, including delivering the products and providing customer support. Under the distribution agreement, the Group has a sale contract with the platform distributor customer and has no sales contract with the end customers. Based on these indicators, the Group determined the e-commerce platform distributors (as opposed to the end customers) as its customers according to ASC 606-10-55-39. 2) Platform Service Agreements Under the platform service agreements, the Group sets up online stores on the platforms to sell the Group’s product to end customers. The platforms provide services to support the operations of the online store including processing sales orders and collecting from end customers. The platforms charge the Group service fees based on the Group’s sales through the online stores. The Group enters sale contracts directly with the end customers. The platforms do not take control of the goods and do not include sales contracts with end customers. The Group is responsible for selling and fulfilling all obligations according to its sales contracts with end customers, including delivering products and providing customer support. Accordingly, the Group determined the end customers (as opposed to the platforms) as its customers according to ASC 606-10-55-39. The sales contracts with end customers normally include a customer’s right to return products within 7 days after receipt of goods. 2. SIGNIFICANT ACCOUNTING POLICIES (Continued) ( s ) (Continued) 2) Platform Service Agreements (Continued) The Group identifies its performance obligation to both e-commerce platform distributor customers and end customers as to transfer the control of the products ordered to the customers. Contracts with customers may include multiple performance obligations if there is a need to separate one order into multiple deliveries. In those scenarios, transaction price will be allocated to different performance obligations based on relative standalone selling prices. The Group recognizes revenue from sales to e-commerce platform distributors upon delivery of the products to e-commerce platform distributors’ warehouses in an amount equal to the contract sales prices less estimated sales allowances for sales returns, rebates and price protection. The Group recognizes revenues from sales to end customers upon delivery of the product to end customers in an amount equal to the contract sales prices less estimated sales allowances for sales returns and sales incentives. Estimated sales allowances for sales returns, rebates, incentives and price protection are made based on contract terms and historical patterns. The estimated sales allowances for sales returns, rebates, incentives and price protection at December 31, 2019, 2020 and 2021 were RMB 5,591, RMB 6,605 and RMB 8,146, respectively. Sales incentives The Group grants points to customers when they purchase goods from its online platforms. The points can be used to offset against payments or exchanged for goods when customers make their future purchases. The Group considers the points as a separate performance obligation and allocates the transaction price proportionally between the product sold and the points granted on a relative standalone selling price basis in consideration of the likelihood of future redemption based on historical experience and the equivalent value per point when they are redeemed. The deferred income recorded for the point is considered as a contract liability. As of December 31, 2020 and 2021, the Group recorded contract liability related to the points of nil and RMB 11,722, respectively. Contract balances A receivable is recorded when the Group has an unconditional right to consideration. A right to consideration is unconditional if only the passage of time is required before payment of that consideration is due. A contract asset is recorded when the Group has transferred products to the customer before payment is received or is due, and the Group’s right to consideration is conditional on future performance or other factors in the contract. No contract asset was recorded as at December 31, 2020 and 2021. Sales to e-commerce platform distributor customers are on credit terms, and receivables are recorded upon recognizing revenues. Sales through online stores on platforms are paid by the end customers to Payment Channels before the Group delivers the products. Payment Channels settle with the Group based upon pre-agreed days after the Group delivers products to end customers, or when the end customers confirm their receipts of products, whichever is earlier. A contract liability is recorded when the Group’s obligation to transfer goods to a customer has not yet occurred but for which the Group has received consideration from the customer. The Group presents such amounts as advances from customers on the consolidated balance sheets. As of December 31, 2020 and 2021, advances from customers were RMB 6,228 and RMB 20,680, respectively. All contract liability balances at the beginning of the years were recognized as revenue in the following years due to generally short-term duration of contracts. During the years ended December 31, 2019, 2020 and 2021, the Group did not have 2. SIGNIFICANT ACCOUNTING POLICIES (Continued) (s) (Continued) Practical Expedients The transaction price allocated to performance obligations that are unsatisfied or partially unsatisfied has not been disclosed, as substantially all of the Group’s contracts have a duration of one year or less. Payment terms with platform distributor customers and Payment Channels generally require settlement within one year or less. The Group has determined that its contracts generally do not include a significant financing component. The Group generally expenses sales commissions when incurred because the amortization period is one year or less. These costs are recorded within selling and marketing expenses.
Cost of revenues	( t ) Cost of revenues Cost of revenues consists primarily of material costs, consignment manufacturing cost and related costs that are directly attributable to the production of products.
Fulfilment expenses	( u ) Fulfilment expenses Fulfilment expenses primarily represent expenses incurred for warehousing, shipping and delivering products to customers, mainly including rental and personnel costs for warehouses as well as third party shipping costs.
Selling, marketing, general and administrative expenses	( v ) Selling and marketing expenses Selling and marketing expenses primarily consist of (i) advertising and marketing promotion expenses, (ii) platform commission, (iii) personnel costs for sales and marketing staff, (iv) rental, depreciation expenses, personnel and other costs for offline experience stores and (v) share-based compensation expenses. For the years ended December 31, 2019, 2020 and 2021, advertising and marketing promotion expenses totalled to RMB 879,632, RMB 2,215,074 and RMB 2,369,769, respectively. ( x ) General and administrative expenses General and administrative expenses consist of personnel costs including share-based compensation expenses and other expenses which are related to the general corporate functions, including accounting, finance, tax, legal and human relations, costs associated with use by these functions of facilities and equipment, such as depreciation expenses, rental and other general corporate related expenses.
Research and development expenses	( w ) Research and development expenses Research and development expenses primarily consist of personnel costs for research and development staff, general expenses and depreciation expenses associated with research and development activities.
Employee social security and welfare benefits	( y ) Employee social security and welfare benefits Employees of the Group in the PRC are entitled to staff welfare benefits including pension, work-related injury benefits, maternity insurance, medical insurance, unemployment benefit and housing fund plans through a PRC government-mandated multi-employer defined contribution plan. The Group is required to accrue and pay the government for these benefits based on certain percentages of the employees’ salaries, up to a maximum amount specified by the local government. The PRC government is responsible for the medical benefits and the pension liability to be paid to these employees, and the Group’s obligations are limited to the amounts contributed with no legal obligation beyond the contributions made. Employee social security and welfare benefits, as part of the personnel costs, included as expenses in the accompanying consolidated statement of operations amounted to RMB 21,495, RMB 41,719 and RMB 93,296 for the years ended December 31, 2019, 2020 and 2021, respectively.
Share-based compensation	( z ) Share-based compensation The Group grants restricted shares to the founders and share options to its management and other key employees (collectively, “Share-based Awards”). Such compensation is accounted for in accordance with ASC 718, Compensation—Stock Compensation. Share-based Awards with service conditions only are measured at the grant date fair value of the awards and recognized as expenses using the straight-line method, net of estimated forfeitures, if any, over the requisite service period. Share-based Awards that are subject to both service conditions and the occurrence of an initial public offering ("IPO") as performance condition, are measured at the grant date fair value. Cumulative share-based compensation expenses for the awards that have satisfied the service condition, amounting to RMB 232,431, were recorded upon the completion of the IPO, using the graded-vesting method. The fair value of the restricted shares was assessed using the income approach/discounted cash flow method, with a discount for lack of marketability given that the shares underlying the awards were not publicly traded at the time of grant. This assessment requires complex and subjective judgments regarding the Group’s projected financial and operating results, its unique business risks, the liquidity of its ordinary shares and its operating history and prospects at the time the grants were made. The fair value of share options is estimated on the grant date using the Binomial option pricing model. The assumptions used in share-based compensation expense recognition represent management’s best estimates, but these estimates involve inherent uncertainties and application of management judgment. If factors change or different assumptions are used, the share-based compensation expenses could be materially different for any period. Moreover, the estimates of fair value of the awards are not intended to predict actual future events or the value that ultimately will be realized by grantees who receive these awards, and subsequent events are not indicative of the reasonableness of the original estimates of fair value made by the Group for accounting purposes.
Income taxes	( aa ) Income taxes Current income taxes are provided on the basis of net income for financial reporting purposes, adjusted for income and expense items which are not assessable or deductible for income tax purposes, in accordance with the regulations of the relevant tax jurisdictions. Deferred income taxes are accounted for using an asset and liability method. Under this method, deferred income taxes are recognized for the tax consequences of temporary differences by applying enacted statutory rates applicable to future years to differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities. The tax base of an asset or liability is the amount attributed to that asset or liability for tax purpose. The effect on deferred taxes of a change in tax rates is recognized in consolidated statement of operations in the period of change. A valuation allowance is provided to reduce the amount of deferred tax assets if it is considered more likely than not that some portion of, or all of the deferred tax assets will not be realized. Uncertain tax positions The guidance on accounting for uncertainties in income taxes prescribes a more likely than not threshold for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Guidance also applies to the recognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, accounting for income taxes in interim periods, and income tax disclosures. Significant judgment is required in evaluating the Group's uncertain tax positions and determining its provision for income taxes. The Group recognizes interest and penalties, if any, under accrued expenses and other current liabilities on its balance sheet and under other expenses in its consolidated statement of operations. There were no interest and penalties associated with uncertain tax positions for the years ended December 31, 2019, 2020 and 2021. As of December 31, 2020 and 2021, the Group did not have any significant unrecognized uncertain tax positions.
Comprehensive income (loss)	( ab ) Comprehensive income (loss) Comprehensive income (loss) is defined to include all changes in equity except those resulting from investments by owners and distributions to owners. During the periods presented, comprehensive income (loss) is reported in the consolidated statements of comprehensive income, and other comprehensive income (loss) includes foreign currency translation adjustments.
Statutory reserves	( ac ) Statutory reserves The Company's subsidiaries and the VIEs established in the PRC are required to make appropriations to certain non-distributable reserve funds. In accordance with the laws applicable to the Foreign Investment Enterprises established in the PRC, the Company's subsidiaries registered as wholly-owned foreign enterprises are required to make appropriations from their annual after-tax profits (as determined under generally accepted accounting principles in the PRC ("PRC GAAP")) to reserve funds including a general reserve fund, an enterprise expansion fund and a staff bonus and welfare fund. The appropriation to the general reserve fund must be at least 10% of the annual after-tax profits calculated in accordance with PRC GAAP. Appropriation is not required if the general reserve fund has reached 50% of the registered capital of the company. Appropriations to the enterprise expansion fund and staff bonus and welfare fund are made at the respective company's discretion. In addition, in accordance with the PRC Company Laws, the consolidated VIEs registered as Chinese domestic companies must make appropriations from annual after-tax profits as determined under the PRC GAAP to non-distributable reserve funds including statutory surplus fund and discretionary surplus fund. The appropriation to the statutory surplus fund must be 10% of the annual after-tax profits as determined under PRC GAAP. Appropriation is not required if the statutory surplus fund has reached 50% of the registered capital of the company. Appropriation to the discretionary surplus fund is made at the discretion of the Company. The uses of the general reserve fund, enterprise expansion fund, statutory surplus fund and discretionary surplus fund are restricted to offsetting of losses or increasing of the registered capital of the respective company. The staff bonus and welfare fund is a liability in nature and is restricted to fund payments of special bonus to employees and for the collective welfare of all employees. None of these reserves is allowed to be transferred to the Company in terms of cash dividends, loans or advances, nor can the reserves be distributed except under liquidation. For the years ended December 31, 2019, 2020 and 2021, the profit appropriation to statutory surplus fund for the Group’s entities incorporated in the PRC was RMB19,322, RMB 729 and RMB 1,301, respectively. No appropriation to other reserve funds was made for any of the periods presented. 2. SIGNIFICANT ACCOUNTING POLICIES (Continued)
Income (loss) per share	(ad) Income (loss) per share Basic income (loss) per share is computed by dividing net income (loss) attributable to ordinary shareholders, considering the accretion of redemption feature related to the Company’s preferred shares (Note 18), by the weighted average number of ordinary shares outstanding during the period using the two-class method. Under this method, net income is allocated between ordinary shares and other participating securities based on their participating rights. Net losses are not allocated to other participating securities if based on their contractual terms they are not obligated to share the losses. Diluted income (loss) per share is calculated by dividing net income (loss) attributable to ordinary shareholders, as adjusted for the effect of dilutive ordinary equivalent shares, if any, by the weighted average number of ordinary and dilutive ordinary equivalent shares outstanding during the period. Ordinary equivalent shares consist of ordinary shares issuable upon the conversion of preferred shares, using the if-converted method, and shares issuable upon the exercise of share options and the vesting of restricted shares using the treasury stock method. Ordinary equivalent shares are not included in the denominator of the diluted income (loss) per share calculation when inclusion of such share would be anti-dilutive.
Related parties	( a e ) Related parties Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be related if they are subject to common control or significant influence, such as a family member or relative, shareholder, or a related corporation.
Recent accounting pronouncements	(af) Recent accounting pronouncements In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes, as part of its initiative to reduce complexity in accounting standards. The amendments in the ASU are effective for fiscal years beginning after December 15, 2020, including interim periods therein. Early adoption of the standard is permitted, including adoption in interim or annual periods for which financial statements have not yet been issued. The Group adopted the ASU on January 1, 2021, which did not have a material impact on the consolidated financial statements. In January 2020, the FASB issued ASU No. 2020-01, Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)—Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 (a consensus of the Emerging Issues Task Force). The amendments in this update clarify the interaction of the accounting for equity securities under Topic 321 and investments accounted for under the equity method of accounting in Topic 323 and the accounting for certain forward contracts and purchased options accounted for under Topic 815. For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. Early adoption is permitted. The Group does not expect the adoption to have a material impact on its consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting if certain criteria are met. The amendments in ASU 2020-04 provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. This guidance is effective immediately and the amendments may be applied prospectively through December 31, 2022. The adoption did not have a material accounting impact on the Group’s consolidated financial position or results of operations. 2. SIGNIFICANT ACCOUNTING POLICIES (Continued) (af) Recent accounting pronouncements (Continued) In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (ASU 2020-06), which simplifies the accounting for convertible instruments by reducing the number of accounting models available for convertible debt instruments. This guidance also eliminates the treasury stock method to calculate diluted earnings per share for convertible instruments and requires the use of the if-converted method. The amendments are effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years, with early adoption permitted. The Group does not expect the adoption to have a material impact on its consolidated financial statements. In May 2021, the FASB issued ASU No. 2021-04, Earnings Per Share (Topic 260), Debt — Modifications and Extinguishments (Subtopic 470-50), Compensation — Stock Compensation (Topic 718), and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40) to clarify and reduce diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options (for example, warrants) that remain equity classified after modification or exchange. The amendments in this update are effective for all entities for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. An entity should apply the amendments prospectively to modifications or exchanges occurring on or after the effective date of the amendments. The Group does not expect the adoption to have a material impact on its consolidated financial statements. In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (ASU 2021-08), which clarifies that an acquirer of a business should recognize and measure contract assets and contract liabilities in a business combination in accordance with Topic 606, Revenue from Contracts with Customers The new amendments are effective for us are effective for fiscal years beginning after Dec ember 15, 2022, including interim periods within those fiscal years. The amendments should be applied prospectively to business combinations occurring on or after the effective date of the amendments, with early adoption permitted. The Group does not expect the adoption to have a material impact on its consolidated financial statements.

Principal Activities and Reor_2

Principal Activities and Reorganization (Tables)	12 Months Ended
Principal Activities and Reorganization (Tables)	Dec. 31, 2021
Details of Principal Subsidiaries and VIE	As of December 31, 2021, details of the Company's principal subsidiaries and VIE were as follows: Place of Date of Percentage of incorporation incorporation beneficial ownership Principal activities Wholly owned subsidiaries: Guangzhou Yatsen Global Co., Ltd.(“Guangzhou Yatsen”) PRC July 29, 2015 100% Cosmetics Sales Guangzhou Yatsen Cosmetics Co., Ltd. PRC March 24, 2017 100% Cosmetics Sales Guangzhou Yiyan Cosmetics Co., Ltd. PRC April 15, 2019 100% Cosmetics Sales VIE: Huizhi Weimei (Guangzhou) Trading Co., Ltd.(“HZ VIE”) PRC February 22, 2019 100% Cosmetics Sales
Variable Interest Entity Primary Beneficiary
Consolidated Financial Information of Consolidated VIEs	The following consolidated financial information of the consolidated VIEs is included in the accompanying consolidated financial statements as of and for the year ended: As of December 31, 2020 2021 RMB RMB Cash and cash equivalents 31,147 27,539 Accounts receivable 7,331 8,109 Inventories, net 1,050 1,006 Prepayments and other current assets 15,973 17,525 Amounts due from non-VIE subsidiaries 111 - Total current assets 55,612 54,179 Investments - 118,862 Property and equipment, net 16,020 11,106 Intangible assets, net 289 38 Right-of-use assets, net - 143 Other non-current assets 457 - Total non-current assets 16,766 130,149 Total assets 72,378 184,328 Accounts payable 6,892 11,765 Advances from customers 6,156 14,262 Accrued expenses and other liabilities 42,874 18,727 Income tax payables 929 1,005 Lease liabilities due within one year - 74 Amounts due to non-VIE subsidiaries 50,591 193,917 Total current liabilities 107,442 239,750 Lease liabilities - 78 Total liabilities 107,442 239,828 Year ended December 31, 2019 2020 2021 RMB RMB RMB Net revenues 251,385 907,735 521,835 Net loss (15,066) (176,187) (27,886) Net cash provided by operating activities 3,022 47,830 17,178 Net cash used in investing activities - (17,102) (121,236) Net cash provided by (used in) financing activities - (2,603) 100,450 Net increase (decrease) in cash and cash equivalents 3,022 28,125 (3,608)

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
Significant Accounting Policies (Tables)	Dec. 31, 2021
Accounting Policies [Abstract]
Estimated Useful Lives of Property and equipment	Property and equipment is carried at cost less accumulated depreciation and impairment, if any. Depreciation is calculated on a straight-line basis over the following estimated useful lives. Category Estimated useful lives Machinery 3-10 years Electronic equipment 3 years Office furniture and equipment 3 -5 years Vehicles 4 years Leasehold improvements Shorter of the term of the lease or the estimated useful lives of the assets Property and equipment, net consisted of the following: As of December 31, 2020 2021 RMB RMB Leasehold improvements 305,955 353,322 Electronic equipment 32,213 50,290 Machinery 15,562 22,103 Office furniture and equipment 3,818 10,719 Vehicles 4,311 4,317 Construction in progress 2,779 60 Total 364,638 440,811 Less: accumulated depreciation (79,341) (183,145) Less: impairment charges - (12,352) Property and equipment, net 285,297 245,314
Estimated Useful Lives of Intangible Assets	The estimated useful lives of intangible assets are as follows: Category Estimated useful lives Trademarks 9-20 years Software 5 years Customer Relationship 10 years Techniques 10 years Non-compete 5 years

Cash and Cash Equivalents and_2

Cash and Cash Equivalents and Restricted Cash (Tables)	12 Months Ended
Cash and Cash Equivalents and Restricted Cash (Tables)	Dec. 31, 2021
Cash And Cash Equivalents [Abstract]
Schedule of Cash and Cash Equivalents	Cash and cash equivalents represent cash on hand and demand deposits placed with banks or other financial institutions, and all highly liquid investments with original maturities of three months or less. Cash and cash equivalents and restricted cash balances as of December 31, 2020 and 2021 primarily consist of the following currencies: As of December 31, 2020 2021 Amount RMB Amount RMB Cash and cash equivalents RMB 265,401 265,401 627,058 627,058 US$ 829,774 5,414,276 383,680 2,446,199 GBP - - 5,337 45,931 EUR 5,885 47,226 1,509 10,895 HKD - - 7,879 6,450 JPY - - 17,793 999 SGD 26 126 99 476 Total cash and cash equivalents 5,727,029 3,138,008 Restricted cash RMB 6,363 - Total cash, cash equivalents and restricted cash 5,733,392 3,138,008

Accounts Receivable (Tables)

Accounts Receivable (Tables)	12 Months Ended
Accounts Receivable (Tables)	Dec. 31, 2021
Receivables [Abstract]
Schedule of Accounts Receivable	As of December 31, 2020 2021 RMB RMB Accounts receivable 419,317 355,837

Inventories, Net (Tables)

Inventories, Net (Tables)	12 Months Ended
Inventories, Net (Tables)	Dec. 31, 2021
Inventory Disclosure [Abstract]
Inventories, Net	Inventories, net consisted of the following: As of December 31, 2020 2021 RMB RMB Raw materials and packing materials 56,519 43,922 Products 581,237 759,832 Inventories 637,756 803,754 Less: impairment allowance (20,948) (107,993) Inventories, net 616,808 695,761

Prepayments and other current_2

Prepayments and other current assets (Tables)	12 Months Ended
Prepayments and other current assets (Tables)	Dec. 31, 2021
Other Assets Unclassified [Abstract]
Summary of Prepayments and Other Current Assets	7 . PREPAYMENTS AND OTHER CURRENT ASSETS As of December 31, 2020 2021 RMB RMB Prepayments of promotion fees (a) 133,575 130,058 VAT recoverable (b) 92,483 95,899 Deposits, prepaid rental and property management fees 35,021 62,877 Prepayments for products procurement (c) 6,742 6,731 Others 36,820 70,626 304,641 366,191 (a) Prepayments of promotion fees mainly include prepayments made to online platforms for future services to promote the Group’s products through online advertising and prepaid short-term service fees to celebrity agencies and key opinion leaders. (b) VAT recoverable represent the balances that the Group can utilize to deduct its value-added tax liabilities in the future. (c) Prepayments for products procurement represent cash prepaid to the Group’s third-party suppliers for the procurement of products.

Investments (Tables)

Investments (Tables)	12 Months Ended
Investments (Tables)	Dec. 31, 2021
Equity Method Investments And Joint Ventures [Abstract]
Schedule of Forth the Group's Investments	The following sets forth the Group's investments: As of December 31, 2020 2021 RMB RMB Equity method investments (a) 23,471 286,513 Equity investments without readily determinable fair Values (b) 11,391 65,226 Total 34,862 351,739 Less: impairment on investments - (1,359) Investment, net 34,862 350,380 (a) As at December 31, 2021 and 2020, the balances represented the Group’s investments made in five and two private entities respectively. (b) As at December 31, 2021 and 2020, the balances represented the Group’s investments made in three and two private entities respectively.

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	12 Months Ended
Property and Equipment, Net (Tables)	Dec. 31, 2021
Property Plant And Equipment [Abstract]
Estimated Useful Lives of Property and equipment	Property and equipment is carried at cost less accumulated depreciation and impairment, if any. Depreciation is calculated on a straight-line basis over the following estimated useful lives. Category Estimated useful lives Machinery 3-10 years Electronic equipment 3 years Office furniture and equipment 3 -5 years Vehicles 4 years Leasehold improvements Shorter of the term of the lease or the estimated useful lives of the assets Property and equipment, net consisted of the following: As of December 31, 2020 2021 RMB RMB Leasehold improvements 305,955 353,322 Electronic equipment 32,213 50,290 Machinery 15,562 22,103 Office furniture and equipment 3,818 10,719 Vehicles 4,311 4,317 Construction in progress 2,779 60 Total 364,638 440,811 Less: accumulated depreciation (79,341) (183,145) Less: impairment charges - (12,352) Property and equipment, net 285,297 245,314

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
Goodwill (Tables)	Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amount of Goodwill	The changes in the carrying amount of goodwill for the years ended December 31, 2020 and 2021 are as follows: Amount RMB Balance as of December 31, 2019 and 2020 20,596 Increase in goodwill related to acquisitions (Note 20) 880,314 Foreign currency translation adjustment (31,489) Balance as of December 31, 2021 869,421

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	12 Months Ended
Intangible Assets, Net (Tables)	Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets Net	As of December 31, 2020 2021 RMB RMB Cost: Trademark 177,805 625,715 Software 15,778 32,942 Customer relationship - 90,479 Technique - 43,085 Non-compete - 6,900 Total cost 193,583 799,121 Less: accumulated amortization (4,493) (53,270) Intangible assets, net 189,090 745,851
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	As of December 31, 2021, estimated amortization expenses for future periods are expected to be as follows: Year ended December 31, RMB 2022 54,056 2023 53,718 2024 53,058 2025 52,474 2026 and thereafter 532,545 Total expected amortization expense 745,851

Other Non-Current Assets (Table

Other Non-Current Assets (Tables)	12 Months Ended
Other Non-Current Assets (Tables)	Dec. 31, 2021
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Components of Other Non-Current Assets	As of December 31, 2020 2021 RMB RMB Long-term rental deposits 50,509 42,863 Prepaid service fees - 14,250 Loans to employees - 11,800 Prepaid consideration for an acquisition 95,427 5,040 Prepaid long-term celebrity endorsement fees 3,996 1,804 Others 2,126 4,463 152,058 80,220

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	12 Months Ended
Accrued Expenses and Other Liabilities (Tables)	Dec. 31, 2021
Payables And Accruals [Abstract]
Schedule of Accrued Expenses and Other Liabilities	As of December 31, 2020 2021 RMB RMB Accrued payroll related expenses 70,412 114,496 Accrued advertising and marketing expenses 77,948 79,662 Accrued storage and transportation fees 59,631 38,269 Accrued leasehold improvement costs 56,490 33,370 Other taxes payable 83,040 22,886 Payable related to repurchase of ordinary shares - 7,166 Refund obligation of sales return 3,918 4,530 Others 60,505 70,152 411,944 370,531

Leases (Tables)

Leases (Tables)	12 Months Ended
Leases (Tables)	Dec. 31, 2021
Leases [Abstract]
Summary of Supplemental Information Related to Operating Leases	A summary of supplemental information related to operating leases is as follows: As of December 31, 2020 2021 RMB RMB Operating lease ROU assets 536,710 422,966 Operating lease liabilities-non-current 311,910 206,303 Operating lease liabilities-current 215,300 214,843 Total operating lease liabilities 527,210 421,146 Weighted average remaining lease term 2.57years 1.94years Weighted average discount rate 5.41% 5.06%
Summary of Lease Cost Recognized and Supplemental Cashflow Information Related to Operating Lease	A summary of lease cost recognized in the Group’s consolidated statements of operations and supplemental cashflow information related to operating leases is as follows: Year ended December 31, 2019 2020 2021 RMB RMB RMB Operating lease cost 53,752 179,515 268,321 Short-term lease cost 2,291 4,249 420 Variable cost 1,557 6,396 9,166 Cash paid for operating leases 48,281 168,943 265,997 Right-of-use assets obtained in exchange for operating lease liabilities 295,454 448,148 269,601
Summary of Maturity of Operating Lease Liabilities under Non-Cancelable Operating Leases	A summary of maturity of operating lease liabilities under the Group’s non-cancellable operating leases as of December 31, 2021 is as follows: As of December 31, 2021 RMB 2022 231,314 2023 147,847 2024 43,050 2025 14,644 2026 7,386 2027 and thereafter 2,074 Total lease payment 446,315 Less: interest (25,169) Present value of operating lease liability 421,146

Revenues (Tables)

Revenues (Tables)	12 Months Ended
Revenues (Tables)	Dec. 31, 2021
Revenue From Contract With Customer [Abstract]
Summary of Revenue By Channel for Respective Periods	The Group’s revenue by channel for the respective periods are detailed as follows: Year ended December 31, 2019 2020 2021 RMB RMB RMB Sales of product by channel —Sales to end customers 2,670,831 4,548,804 4,878,453 —Sales to distributor customers 359,629 678,873 941,322 —Others 707 5,493 20,198 Total revenues 3,031,167 5,233,170 5,839,973

Income Tax Expenses (Tables)

Income Tax Expenses (Tables)	12 Months Ended
Income Tax Expenses (Tables)	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Summary of Components of Current and Deferred Income Taxes	The current and deferred components of income taxes appearing in the consolidated statements of operations are as follows: Year ended December 31, 2019 2020 2021 RMB RMB RMB Income (loss) before income tax expense 147,335 (2,681,445) (1,547,959) Current tax expense 75,671 3,519 4,507 Deferred tax expense (benefit) (3,695) 3,451 (5,428) Total income tax expense (benefit) 71,976 6,970 (921)
Schedule of Effective Income Tax Rate Reconciliation	The income tax expense for each of the years ended December 31, 2019, 2020 and 2021 differs from the amount computed by applying the PRC statutory income tax rate of 25% to income before income tax expense due to the following: Year ended December 31, 2019 2020 2021 RMB RMB RMB PRC statutory income tax rate 25% 25% 25% Permanent differences 15% -17% -9% Tax effect of different tax rate of different jurisdictions -1% 0% 0% Tax effect of Super Deduction and others -2% 0% 1% Changes in valuation allowance 12% -8% -17% Effective tax rates 49% 0% 0%
Schedule of Deferred Tax Assets and Liabilities	The significant components of the Group's deferred tax assets were as follows: As of December 31, 2020 2021 RMB RMB Net operating loss carry forwards 222,325 470,227 Inventory valuation allowance 5,237 27,048 Accrued expenses and others 11,000 19,225 Total deferred tax assets 238,562 516,500 Less: valuation allowance (237,965) (514,500) Deferred tax assets, net 597 2,000 The Group's deferred tax liability was as follows: As of December 31, 2020 2021 RMB RMB Related to acquired intangible assets 1,557 124,450
Movement of Valuation Allowance	Movement of valuation allowance Year ended December 31, 2020 2021 RMB RMB Balance at beginning of the year 18,677 237,965 Additions 219,288 276,535 Balance at end of the year 237,965 514,500

Convertible Redeemable prefer_2

Convertible Redeemable preferred Shares ("Preferred Shares") (Tables)	12 Months Ended
	Dec. 31, 2021
Temporary Equity Disclosure [Abstract]
Summary of Issuance of Convertible Redeemable Preferred Shares	The following table summarizes the issuances of convertible redeemable preferred shares. Series Issuance Date Shares Issued Issue Price per Share Net Proceeds from Issuance US$ US$ RMB Seed August 1, 2017 200,000,000 0.0050 1,000 6,715 Seed March 25,2020 53,699,985 1.0615 57,000 403,230 Seed April 27, 2020 45,315,250 1.0615 48,100 340,082 Seed April 27, 2020 6,443,998 0.00001 - - Seed July 29, 2020 21,479,994 1.0615 22,800 159,530 Seed September 11, 2020 31,651,271 1.5009 47,505 324,882 A-1 October 9, 2017 66,667,000 0.0150 1,000 6,649 A-2 October 9, 2017 145,038,000 0.0207 3,008 20,000 A-2 October 9, 2017 38,677,000 0.0207 802 5,333 A-2 March 25,2020 15,035,996 1.0615 15,960 112,904 A-2 April 27, 2020 27,923,992 1.1173 31,200 220,593 B-1 September 5, 2018 14,503,820 0.0622 902 6,158 B-2 September 5, 2018 171,289,239 0.0655 11,220 76,594 B-3 October 22, 2018 85,351,118 0.0820 7,000 48,465 B-3+ February 25, 2019 87,075,383 0.1740 15,150 101,704 C July 26, 2019 206,907,594 0.5644 114,814 789,872 C April 27, 2020 26,573,188 0.5644 14,999 105,911 C September 11, 2020 39,859,783 0.5644 22,499 153,866 D March 25, 2020 66,432,971 1.1173 71,868 508,411 E September 11, 2020 144,331,134 1.5799 225,668 1,543,323
Preferred Shares Activities	The Company’s preferred shares activities for the years ended December 31, 2019, 2020 and 2021 are summarized below: Junior Preferred Shares Series B-1 and B-2 Preferred Shares Series B-3 Preferred Shares Series B-3+ Preferred Shares Series C Preferred Shares Series D Preferred Shares Series E Preferred Shares Total Number of shares Amount (RMB) Number of shares Amount (RMB) Number of shares Amount (RMB) Number of shares Amount (RMB) Number of shares Amount (RMB) Number of shares Amount (RMB) Number of shares Amount (RMB) Number of shares Amount (RMB) Balances as of January 1, 2019 450,382,000 53,209 185,793,059 85,319 85,351,118 49,359 - - - - - - - - 721,526,177 187,887 Repurchase of preferred shares (60,349,275) (8,676) - - - - - - - - - - - - (60,349,275) (8,676) Issuance of preferred shares, net of issuance costs - - - - - - 87,075,383 101,704 206,907,594 789,872 - - - - 293,982,977 891,576 Accretion on preferred shares to redemption value - 2,181 - 8,625 - 4,920 - 8,796 - 34,678 - - - - - 59,200 Balances as of December 31,2019 390,032,725 46,714 185,793,059 93,944 85,351,118 54,279 87,075,383 110,500 206,907,594 824,550 - - - - 955,159,879 1,129,987 Repurchase of preferred shares (132,718,241) (14,379) - - - - - - - - - - - - (132,718,241) (14,379) Issuance of preferred shares, net of issuance costs 195,106,488 1,561,221 - - - - - - 66,432,971 563,404 66,432,971 508,411 144,331,134 1,543,323 472,303,564 4,176,359 Redesignation of Founder’s ordinary shares to preferred shares 6,443,998 35,142 - - - - - - - - - - - - 6,443,998 35,142 Accretion on preferred shares to redemption value - 75,620 - 8,431 - 4,810 - 10,072 - 76,015 - 36,442 - 30,819 - 242,209 Redeemable convertible preferred shares converted into Class A ordinary shares upon the completion of the IPO (458,864,970) (1,704,318) (185,793,059) (102,375) (85,351,118) (59,089) (87,075,383) (120,572) (273,340,565) (1,463,969) (66,432,971) (544,853) (144,331,134) (1,574,142) (1,301,189,200) (5,569,318) Balances as of December 31, 2020 and 2021 - - - - - - - - - - - - - - - -

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
Share-Based Compensation (Tables)	Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule of Share-Based Compensation Expenses	Share-based compensation expenses recognized during the years presented are as follows: Year ended December 31, 2019 2020 2021 RMB RMB RMB Share-based compensation expenses - Share-based compensation of founders' restricted shares (a) 50,837 1,030,178 - - Related to repurchase of founders’ ordinary shares (b) 24,158 146,294 - - Related to the issuances of preferred shares to investors (c) - 303,627 - - Related to redesignation of founder’s ordinary shares to preferred shares (Note 18(b)） - 1,852 - - Related to accelerated vesting of share options (d) 138,729 66,429 - Related to vesting of share options (f) - 279,908 464,011 Total 74,995 1,900,588 530,440
Movement in Number of Share Options Granted and Related Weighted Average Exercise Prices	Movements in the number of share options granted and their related weighted average exercise prices are as follows: Number of options Weighted average exercise price (US$) Weighted average remaining contractual life (years) Aggregate intrinsic value (US$’000) As of January 1, 2019 67,404,501 0.0065 5.04 Granted 62,896,041 0.0080 Forfeited (3,414,045) 0.0065 Modified from options to restricted shares (58,297,400) 0.0073 As of December 31, 2019 68,589,097 0.0073 4.58 Granted 136,230,857 0.2960 Cancelled (1,849,265) 0.0006 Forfeited (1,544,428) 0.2062 Accelerated vesting and exercised (15,518,385) - As of December 31, 2020 185,907,876 0.2179 13.73 Granted 55,388,338 0.8790 Forfeited (4,570,510) 0.8782 Exercised (7,686,832) 0.0392 As of December 31, 2021 229,038,872 0.3706 12.98 38,230 Exercisable as of December 31, 2021 52,682,699 23,460
Schedule of Key Assumptions Used to Determine Fair Value of Share Options	The Company has used binomial option-pricing model to determine the fair value of the share options as of the grant dates. Key assumptions are set as below: 19. SHARE-BASED COMPENSATION (Continued) (f) Vesting of share options (Continued) Year ended December 31, 2019 2020 2021 RMB RMB RMB Weighted average fair value per option granted 1.0360 7.3798 1.3882 Weighted average exercise price 0.0554 2.0418 5.6699 Risk-free interest rate (1) 1.9%~2.8% 0.48%~1.01% 1.45%-1.97% Expected term (in year) (2) 4~7 10~16 14 Expected volatility (3) 45.0%~48.0% 50.9%~55.9% 54.69%-57.00% Dividend yield (4) 0% 0% 0% (1) The risk-free interest rates of periods within the contractual life of the share option are based on the daily treasury long-term rate of U.S. Department of the Treasury as of the valuation dates. (2) The expected term is the contract life of the option. (3) Expected volatility is estimated based on the average of historical volatilities of the comparable companies in the same industry as at the valuation dates. (4) The Company has no history or expectation of paying dividend on its ordinary shares. The expected dividend yield was estimated based on the Company’s expected dividend policy over the expected term of the option.
Schedule of Share-Based Compensation Expenses included in Statement of Operations	For the years ended December 31, 2019, 2020 and 2021, share-based compensation expenses have been included in the following accounts in the consolidated statement of operations: Year ended December 31, 2019 2020 2021 RMB RMB RMB Fulfilment expenses - 2,947 13,122 Selling and marketing expenses - 54,332 80,558 General and administrative expenses 74,995 1,841,409 418,823 Research and development expenses - 1,900 17,937

Business Combinations (Tables)

Business Combinations (Tables)	12 Months Ended
Business Combinations (Tables)	Dec. 31, 2021
Business Acquisition [Line Items]
Schedule of Total Intangible Assets Acquired, Redeemable Non-controlling Interests and Goodwill Recognized	Intangible assets acquired, redeemable non-controlling interests and goodwill recognized in connection with business combinations of DR.WU Eve Lom DR.WU Dr. Wu Note (a) Eve Lom Note (b) Total RMB RMB RMB Redeemable non-controlling interests 19,223 319,364 338,587 Intangible assets 52,840 569,311 622,151 Goodwill 134,433 742,623 877,056 206,496 1,631,298 1,837,794
Acquisition of Dr. WU Mainland China Business
Business Acquisition [Line Items]
Schedule of Consideration of Fair Value of Assets Acquired and Liabilities Assumed	(a) Acquisition of DR.WU mainland China business (Continued) The consideration of the acquisition of DR.WU Amount RMB Cash consideration 166,350 Redeemable non-controlling interest 19,223 Total 185,573 Amount Estimated useful lives RMB RMB Cash and cash equivalents acquired 5,158 Inventories acquired 5,447 Other assets acquired 5,353 Intangible assets acquired 52,840 - Trademark (1) 45,940 15 years - Non-compete (2) 6,900 5 years Liabilities assumed (4,448) Deferred tax liabilities (13,210) Goodwill (3) 134,433 Total 185,573 (1) The main tradename “DR.WU” was founded in 2003 in Taiwan and is considered as the key factor for attracting customers and generating revenue in the future. Therefore, the "Trademark" has been identified as an intangible asset given the potential economic benefits to be generated. (2) According to the share purchase agreement, the seller of DR.WU mainland China business shall not compete in mainland China with the Group, including but not limited to, selling or permitting any third party to sell any product in connection with the target business in mainland China . Therefore, the "Non-compete" has been identified as an intangible asset given the potential economic benefits to be generated. (3) Total goodwill of RMB 134,433 primarily represents the expected synergies from combining operations of the acquired business with those of the Group, which expect to be complementary to each other. The goodwill recognized was not expected to be deductible for income tax purpose.
Acquisition of Eve Lom
Business Acquisition [Line Items]
Schedule of Consideration of Fair Value of Assets Acquired and Liabilities Assumed	The consideration of the acquisition of Eve Lom Amount RMB Cash consideration 965,001 Redeemable non-controlling interest 319,364 Total 1,284,365 Amount Estimated useful lives RMB RMB Cash and cash equivalents acquired 41,303 Inventories acquired 49,698 Accounts receivable acquired 29,393 Other assets acquired 35,780 Intangible assets acquired 569,311 - Trademark (1) 422,413 20 years - Customer relationship (2) 94,369 10 years - Technique (3) 44,938 10 years - Software 7,591 3-10 years Accrued expenses and other liabilities assumed (28,674) Accounts payable assumed (17,675) Other liabilities assumed (15,899) Deferred tax liabilities (121,495) Goodwill (4) 742,623 Total 1,284,365 (1) The main tradename “ EVE LOM ” was built in 1984 and is considered as the key factor for attracting customers and generating revenue in the future. Thus, the "Trademark" has been identified as an intangible asset given the potential economic benefits to be generated. 20. BUSINESS COMBINATIONS (Continued) ( b ) Eve Lom Acquisition of Eve Lom business (Continued) (2) Eve Lom develops steady relationship with a local agency in the Europe and the U.S. The customer relationship is considered as one of the key factors for international growth of Eve Lom . Therefore, the " Customer relationship " has been identified as an intangible asset given the potential economic benefits to be generated. (3) Eve Lom develops the unique technique that blends naturally-derived ingredients and essential oils for their skincare products. The technique is considered as one of the key factors to create its cleanser and generate revenue in the future. Therefore, the "Technique" has been identified as an intangible asset given the potential economic benefits to be generated. (4) Total goodwill of RMB 742,623 primarily represents the expected synergies from combining operations of the acquired business with those of the Group, which expect to be complementary to each other. The goodwill recognized was not expected to be deductible for income tax purpose.

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	12 Months Ended
Net Loss Per Share (Tables)	Dec. 31, 2021
Earnings Per Share [Abstract]
Summary of Basic and Diluted Net Income (Loss) per share	Basic and diluted net income (loss) per share for the years ended December 31, 2019, 2020 and 2021 are calculated as follow: Year ended December 31, 2019 2020 2021 RMB RMB RMB Numerator: Net income (loss) attributable to the Yatsen Holding Limited’s shareholders 75,359 (2,687,807) (1,540,734) Accretion to preferred shares redemption value (59,200) (242,209) - Deemed dividend due to modification of preferred shares (61,239) (1,054,220) - Net loss attributable to ordinary shareholders of Yatsen Holding Limited (45,080) (3,984,236) (1,540,734) Denominator: Denominator for basic and diluted calculation—weighted average number of ordinary shares outstanding 450,499,736 833,714,126 2,526,833,201 Net loss per ordinary share —Basic (0.10) (4.78) (0.61) —Diluted (0.10) (4.78) (0.61)
Summary of Antidilutive Securities Excluded from Computation of Net Income (Loss) per Share	For the years ended December 31, 2019, 2020 and 2021, the following shares outstanding were excluded from the calculation of diluted net income (loss) per ordinary share, as their inclusion would have been anti-dilutive for the years prescribed. Year ended December 31, 2019 2020 2021 Shares issuable upon conversion of preferred shares 834,357,412 959,555,911 - Shares issuable upon exercise of share options 85,255,920 113,142,382 209,409,699 Restricted shares become outstanding upon vesting 380,772,174 256,752,927 -

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
Related Party Transactions (Tables)	Dec. 31, 2021
Related Party Transactions [Abstract]
Schedule of Major Transactions and Balances Amount with Related Parties	Major transactions and balances amount with related parties were as follows: Transactions with related parties Year ended December 31, 2019 2020 2021 RMB RMB RMB Purchases of storage and transportation service from an affiliated company - 15,183 13,843 Purchases of inventories and services from an affiliated company 389 - 24,472 Balance amounts with related parties As of December 31, 2020 2021 RMB RMB Amounts due from a founder of the Group 13,050 - Amounts due from affiliated companies 1,320 60 14,370 60 Amounts due to an affiliated company 11,814 13,967

Principal Activities and Reor_3

Principal Activities and Reorganization - Additional Information (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jul. 17, 2020
Principal Activities And Reorganization [Line Items]
Date of incorporation	Sep. 12, 2016
Aoyan
Principal Activities And Reorganization [Line Items]
Percentage of equity interest acquired				100.00%
Variable Interest Entity Primary Beneficiary
Principal Activities And Reorganization [Line Items]
Inter-company revenues		¥ 11,665	¥ 2,730
Proceeds from advances from consolidated entities	¥ 129,664	303,913	11,680
Repayment of advances to consolidated entities	36,664	¥ 303,913	¥ 11,680
Amount due to related party debt	¥ 93,000
Technology Consulting and Service Agreement
Principal Activities And Reorganization [Line Items]
Term of agreement termination notice period	30 days
Effective Period of Agreement	10 years

Principal Activities and Reor_4

Principal Activities and Reorganization - Details of Principal Subsidiaries and VIE (Details)	12 Months Ended
	Dec. 31, 2021
Principal Activities And Reorganization [Line Items]
Date of incorporation	Sep. 12, 2016
Guangzhou Yatsen \| PRC
Principal Activities And Reorganization [Line Items]
Date of incorporation	Jul. 29, 2015
Wholly owned subsidiaries, Percentage of beneficial ownership	100.00%
Wholly owned subsidiaries, Principal activities	Cosmetics Sales
Guangzhou Yatsen Cosmetics Co., Ltd. \| PRC
Principal Activities And Reorganization [Line Items]
Date of incorporation	Mar. 24, 2017
Wholly owned subsidiaries, Percentage of beneficial ownership	100.00%
Wholly owned subsidiaries, Principal activities	Cosmetics Sales
Guangzhou Yiyan Cosmetics Co., Ltd. \| PRC
Principal Activities And Reorganization [Line Items]
Date of incorporation	Apr. 15, 2019
Wholly owned subsidiaries, Percentage of beneficial ownership	100.00%
Wholly owned subsidiaries, Principal activities	Cosmetics Sales
Huizhi weimei (Guangzhou) Trading Co., Ltd.(“HZ VIE”) \| PRC
Principal Activities And Reorganization [Line Items]
Date of incorporation	Feb. 22, 2019
VIE, Percentage of beneficial ownership	100.00%
VIE, Principal activities	Cosmetics Sales

Principal Activities and Reor_5

Principal Activities and Reorganization - Consolidated Financial Information of Consolidated VIEs (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021CNY (¥)	Dec. 31, 2021USD ($)	Dec. 31, 2020CNY (¥)	Dec. 31, 2019CNY (¥)	Dec. 31, 2021USD ($)
Variable Interest Entity [Line Items]
Cash and cash equivalents	¥ 3,138,008		¥ 5,727,029		$ 492,422
Accounts receivable	355,837		419,317		55,839
Inventories, net	695,761		616,808		109,180
Prepayments and other current assets	366,191		304,641		57,463
Total current assets	4,555,857		7,088,528		714,913
Investments	350,380		34,862		54,982
Property and equipment, net	245,314		285,297		38,495
Intangible assets, net	745,851		189,090
Right-of-use assets, net	422,966		536,710		66,373
Other non-current assets	80,220		152,058		12,588
Total non-current assets	2,716,152		1,219,210		426,223
Total assets	7,272,009		8,307,738		1,141,136
Accounts payable	240,815		466,705		37,789
Advances from customers	20,680		6,228		3,245
Accrued expenses and other liabilities	370,531		411,944
Income tax payables	16,747		18,686		2,628
Lease liabilities due within one year	214,843		215,300		33,714
Total current liabilities	877,583		1,130,677		137,710
Lease liabilities	206,303		311,910		32,373
Total liabilities	1,264,516		1,444,144		$ 198,428
Net loss	(1,547,038)	$ (242,763)	(2,688,415)	¥ 75,359
Net cash provided by operating activities	(1,020,441)	(160,130)	(983,368)	(6,179)
Net cash used in investing activities	(1,484,257)	(232,912)	(508,832)	(148,172)
Net cash provided by (used in) financing activities	(1,706)	(267)	6,680,869	795,231
Net increase (decrease) in cash and cash equivalents	(2,595,384)	$ (407,272)	5,056,813	651,517
Variable Interest Entity Primary Beneficiary
Variable Interest Entity [Line Items]
Cash and cash equivalents	27,539		31,147
Accounts receivable	8,109		7,331
Inventories, net	1,006		1,050
Prepayments and other current assets	17,525		15,973
Amounts due from non-VIE subsidiaries			111
Total current assets	54,179		55,612
Investments	118,862
Property and equipment, net	11,106		16,020
Intangible assets, net	38		289
Right-of-use assets, net	143
Other non-current assets			457
Total non-current assets	130,149		16,766
Total assets	184,328		72,378
Accounts payable	11,765		6,892
Advances from customers	14,262		6,156
Accrued expenses and other liabilities	18,727		42,874
Income tax payables	1,005		929
Lease liabilities due within one year	74
Amounts due to non-VIE subsidiaries	193,917		50,591
Total current liabilities	239,750		107,442
Lease liabilities	78
Total liabilities	239,828		107,442
Net revenues	521,835		907,735	251,385
Net loss	(27,886)		(176,187)	(15,066)
Net cash provided by operating activities	17,178		47,830	3,022
Net cash used in investing activities	(121,236)		(17,102)
Net cash provided by (used in) financing activities	100,450		(2,603)
Net increase (decrease) in cash and cash equivalents	¥ (3,608)		¥ 28,125	¥ 3,022

Significant Accounting Polici_4

Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Dec. 31, 2021CNY (¥)Agreement	Dec. 31, 2021USD ($)Agreement	Dec. 31, 2020CNY (¥)	Dec. 31, 2019CNY (¥)	Dec. 31, 2021USD ($)
Significant Accounting Policies [Line Items]
Noon buying rate	6.3726				6.3726
Restricted cash			¥ 5,715,000
Goodwill impairment provision	¥ 0		0	¥ 0
Number of agreements \| Agreement	2	2
Sales allowances for sales returns, rebates, incentives and price protection	¥ 8,146,000		6,605,000	5,591,000
Contract liability	11,722,000
Contract asset	0		0
Advances from customers	20,680,000		6,228,000		$ 3,245,000
Revenue recognized from performance obligations satisfied	0		0	0
Advertising and marketing promotion expenses	2,369,769,000		2,215,074,000	879,632,000
Employee social security and welfare benefits	93,296,000		41,719,000	21,495,000
Share-based compensation expenses	232,431,000
Interest and penalties associated with uncertain tax positions	0		0	0
Mezzanine Equity \| Minimum
Significant Accounting Policies [Line Items]
Preferred hares implied pre-money valuation amount \| $		$ 5,000,000,000
Statutory Surplus Fund
Significant Accounting Policies [Line Items]
Profit appropriation to statutory surplus fund	1,301,000		729,000	19,322,000
Other Reserve Funds
Significant Accounting Policies [Line Items]
Profit appropriation to statutory surplus fund	¥ 0		¥ 0	¥ 0
ASU 2016-02
Significant Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, early adoption [true false]	true				true
Change in accounting principle, accounting standards update, adoption date	Jan. 1, 2018				Jan. 1, 2018
Subsidiary
Significant Accounting Policies [Line Items]
Ordinary shares, voting rights	more than one half	more than one half

Significant Accounting Polici_5

Significant Accounting Policies - Estimated Useful Lives of Property and Equipment (Details)	12 Months Ended
	Dec. 31, 2021
Machinery \| Minimum
Property Plant And Equipment [Line Items]
Property and equipment, Estimated useful lives	3 years
Machinery \| Maximum
Property Plant And Equipment [Line Items]
Property and equipment, Estimated useful lives	10 years
Electronic Equipment
Property Plant And Equipment [Line Items]
Property and equipment, Estimated useful lives	3 years
Office Furniture and Equipment \| Minimum
Property Plant And Equipment [Line Items]
Property and equipment, Estimated useful lives	3 years
Office Furniture and Equipment \| Maximum
Property Plant And Equipment [Line Items]
Property and equipment, Estimated useful lives	5 years
Vehicles
Property Plant And Equipment [Line Items]
Property and equipment, Estimated useful lives	4 years

Significant Accounting Polici_6

Significant Accounting Policies - Estimated Useful Lives of Intangible Assets (Details)	12 Months Ended
	Dec. 31, 2021
Trademarks \| Minimum
Finite Lived Intangible Assets [Line Items]
Intangible assets. Estimated useful lives	9 years
Trademarks \| Maximum
Finite Lived Intangible Assets [Line Items]
Intangible assets. Estimated useful lives	20 years
Software
Finite Lived Intangible Assets [Line Items]
Intangible assets. Estimated useful lives	5 years
Customer Relationship
Finite Lived Intangible Assets [Line Items]
Intangible assets. Estimated useful lives	10 years
Techniques
Finite Lived Intangible Assets [Line Items]
Intangible assets. Estimated useful lives	10 years
Non-compete
Finite Lived Intangible Assets [Line Items]
Intangible assets. Estimated useful lives	5 years

Concentration and Risks - Addit

Concentration and Risks - Additional Information (Details)	12 Months Ended
Concentration and Risks - Additional Information (Details)	Dec. 31, 2021CustomerSupplier	Dec. 31, 2020CustomerSupplier	Dec. 31, 2019CustomerSupplier
Customer Concentration Risk \| Payment Channels
Concentration Risk [Line Items]
Number of customers accounted for more than 10% of accounts receivable \| Customer	1	1
Customer Concentration Risk \| Platform Distributor Customers
Concentration Risk [Line Items]
Number of customers accounted for more than 10% of accounts receivable \| Customer	2	2
Supplier Concentration Risk \| Parent Company
Concentration Risk [Line Items]
Number of suppliers accounted for more than 10% of accounts payable	2
Number of suppliers accounted for more than 9% of accounts payable		3
Supplier Concentration Risk \| Top Two Customers
Concentration Risk [Line Items]
Number of suppliers accounted for more than 10% of accounts payable	2		2
Supplier Concentration Risk \| Top Three Customers
Concentration Risk [Line Items]
Number of suppliers accounted for more than 10% of accounts payable		3
Net Revenue \| Customer Concentration Risk
Concentration Risk [Line Items]
Number of customers accounted for more than 10% of net revenue \| Customer	0	0	0
Accounts Receivable \| Customer Concentration Risk \| Payment Channels
Concentration Risk [Line Items]
Concentration risk, percentage	76.00%	76.00%
Accounts Receivable \| Customer Concentration Risk \| Platform Distributor Customers
Concentration Risk [Line Items]
Concentration risk, percentage	56.00%	56.00%
Accounts Payable \| Supplier Concentration Risk \| Parent Company
Concentration Risk [Line Items]
Concentration risk, percentage	35.00%	52.00%
Accounts Payable \| Supplier Concentration Risk \| Top Two Customers
Concentration Risk [Line Items]
Concentration risk, percentage	31.00%		50.00%
Accounts Payable \| Supplier Concentration Risk \| Top Three Customers
Concentration Risk [Line Items]
Concentration risk, percentage		55.00%

Cash and Cash Equivalents and_3

Cash and Cash Equivalents and Restricted Cash - Summary of Cash and Cash Equivalents Balance (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2021CNY (¥)	Dec. 31, 2021USD ($)	Dec. 31, 2020CNY (¥)	Dec. 31, 2020USD ($)
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	¥ 3,138,008	$ 492,422	¥ 5,727,029
Restricted cash			6,363
Total cash, cash equivalents and restricted cash	3,138,008		5,733,392
CHINA
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	627,058	627,058	265,401	$ 265,401
Restricted cash			6,363
UNITED STATES
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	2,446,199	383,680	5,414,276	829,774
GBP
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	45,931	5,337
EUR
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	10,895	1,509	47,226	5,885
HKD
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	6,450	7,879
JPY
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	999	17,793
SGD
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	¥ 476	$ 99	¥ 126	$ 26

Accounts Receivable - Schedule

Accounts Receivable - Schedule of Account Receivable (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2021CNY (¥)	Dec. 31, 2021USD ($)	Dec. 31, 2020CNY (¥)
Receivables [Abstract]
Accounts receivable	¥ 355,837	$ 55,839	¥ 419,317

Inventories, Net - Schedule of

Inventories, Net - Schedule of Inventories (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2021CNY (¥)	Dec. 31, 2021USD ($)	Dec. 31, 2020CNY (¥)
Inventory Disclosure [Abstract]
Raw materials and packing materials	¥ 43,922		¥ 56,519
Products	759,832		581,237
Inventories	803,754		637,756
Less: impairment allowance	(107,993)		(20,948)
Inventories, net	¥ 695,761	$ 109,180	¥ 616,808

Prepayments And Other Current_3

Prepayments And Other Current Assets - Summary of Prepayments and Other Current Assets (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2021CNY (¥)	Dec. 31, 2021USD ($)	Dec. 31, 2020CNY (¥)
Other Assets Unclassified [Abstract]
Prepayments of promotion fees (a)	¥ 130,058		¥ 133,575
VAT recoverable (b)	95,899		92,483
Deposits, prepaid rental and property management fees	62,877		35,021
Prepayments for products procurement (c)	6,731		6,742
Others	70,626		36,820
Prepayments and other current assets	¥ 366,191	$ 57,463	¥ 304,641

Investments - Summary of Forth

Investments - Summary of Forth the Group's Investments (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Equity Method Investments And Joint Ventures [Abstract]
Equity method investments	¥ 286,513	¥ 23,471
Equity investments without readily determinable fair Values	65,226	11,391
Total	351,739	34,862
Less: impairment on investments	(1,359)
Investment, net	¥ 350,380	¥ 34,862

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment Net (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2021CNY (¥)	Dec. 31, 2021USD ($)	Dec. 31, 2020CNY (¥)
Property Plant And Equipment [Line Items]
Property and equipment, gross	¥ 440,811		¥ 364,638
Less: accumulated depreciation	(183,145)		(79,341)
Less: impairment charges	(12,352)
Property and equipment, net	245,314	$ 38,495	285,297
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment, gross	353,322		305,955
Electronic Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	50,290		32,213
Machinery
Property Plant And Equipment [Line Items]
Property and equipment, gross	22,103		15,562
Office Furniture and Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	10,719		3,818
Vehicles
Property Plant And Equipment [Line Items]
Property and equipment, gross	4,317		4,311
Construction in Progress
Property Plant And Equipment [Line Items]
Property and equipment, gross	¥ 60		¥ 2,779

Property and Equipment Net - Ad

Property and Equipment Net - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021CNY (¥)	Dec. 31, 2021USD ($)	Dec. 31, 2020CNY (¥)	Dec. 31, 2019CNY (¥)
Property Plant And Equipment [Abstract]
Depreciation of property and equipment	¥ 130,666,000	$ 20,504	¥ 74,551,000	¥ 13,010,000
Impairment			¥ 0	¥ 0
Accumulated impairment loss	¥ 12,352,000

Goodwill - Schedule of Changes

Goodwill - Schedule of Changes in Carrying Amount of Goodwill (Details) - 12 months ended Dec. 31, 2021 ¥ in Thousands, $ in Thousands	CNY (¥)	USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Balance as of December 31, 2019 and 2020	¥ 20,596
Increase in goodwill related to acquisitions (Note 20)	880,314
Foreign currency translation adjustment	(31,489)
Balance as of December 31, 2021	¥ 869,421	$ 136,431

Goodwill - Additional Informati

Goodwill - Additional Information (Details) $ in Thousands	12 Months Ended
Goodwill - Additional Information (Details) $ in Thousands	Dec. 31, 2021CNY (¥)	Dec. 31, 2020CNY (¥)	Dec. 31, 2019CNY (¥)	Dec. 31, 2021USD ($)	Mar. 31, 2021CNY (¥)	Jan. 31, 2021CNY (¥)
Goodwill [Line Items]
Goodwill	¥ 869,421,000	¥ 20,596,000		$ 136,431
Goodwill impairment provision	0	¥ 0	¥ 0
Acquisition of Dr. WU Mainland China Business
Goodwill [Line Items]
Goodwill	134,000					¥ 134,433,000
Acquisition of Eve Lom
Goodwill [Line Items]
Goodwill	¥ 711,000				¥ 742,623,000

Intangible Assets, Net - Schedu

Intangible Assets, Net - Schedule of Intangible Assets (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Finite Lived Intangible Assets [Line Items]
Total cost	¥ 799,121	¥ 193,583
Less: accumulated amortization	(53,270)	(4,493)
Intangible assets, net	745,851	189,090
Trademarks
Finite Lived Intangible Assets [Line Items]
Total cost	625,715	177,805
Software
Finite Lived Intangible Assets [Line Items]
Total cost	32,942	¥ 15,778
Customer Relationship
Finite Lived Intangible Assets [Line Items]
Total cost	90,479
Technique
Finite Lived Intangible Assets [Line Items]
Total cost	43,085
Non-compete
Finite Lived Intangible Assets [Line Items]
Total cost	¥ 6,900

Intangible Assets, Net - Additi

Intangible Assets, Net - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021CNY (¥)	Dec. 31, 2021USD ($)	Dec. 31, 2020CNY (¥)	Dec. 31, 2019CNY (¥)
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible assets acquired	¥ 622,151,000
Impairment of intangible assets	0		¥ 0
Amortization of intangible assets	¥ 50,705,000	$ 7,957	¥ 3,476,000	¥ 907,000
Weighted average amortization periods of intangible assets	16 years 3 months 18 days	16 years 3 months 18 days	14 years 1 month 6 days

Intangible Assets,Net - Summary

Intangible Assets,Net - Summary of Estimated Amortization Expenses (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Finite Lived Intangible Assets Future Amortization Expense Current And Five Succeeding Fiscal Years [Abstract]
2022	¥ 54,056
2023	53,718
2024	53,058
2025	52,474
2026 and thereafter	532,545
Intangible assets, net	¥ 745,851	¥ 189,090

Other Non-Current Assets - Sche

Other Non-Current Assets - Schedule of Other Non-Current Assets (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2021CNY (¥)	Dec. 31, 2021USD ($)	Dec. 31, 2020CNY (¥)
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Long-term rental deposits	¥ 42,863		¥ 50,509
Prepaid service fees	14,250
Loans to employees	11,800
Prepaid consideration for an acquisition	5,040		95,427
Prepaid long-term celebrity endorsement fees	1,804		3,996
Others	4,463		2,126
Other assets, noncurrent	¥ 80,220	$ 12,588	¥ 152,058

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities - Schedule of Accrued Expenses and Other Liabilities (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Payables And Accruals [Abstract]
Accrued payroll related expenses	¥ 114,496	¥ 70,412
Accrued advertising and marketing expenses	79,662	77,948
Accrued storage and transportation fees	38,269	59,631
Accrued leasehold improvement costs	33,370	56,490
Other taxes payable	22,886	83,040
Payable related to repurchase of ordinary shares	7,166
Refund obligation of sales return	4,530	3,918
Others	70,152	60,505
Accrued expenses and other liabilities	¥ 370,531	¥ 411,944

Leases - Summary of Supplementa

Leases - Summary of Supplemental Information Related To Operating Leases (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2021CNY (¥)	Dec. 31, 2021USD ($)	Dec. 31, 2020CNY (¥)
Leases [Abstract]
Operating lease ROU assets	¥ 422,966	$ 66,373	¥ 536,710
Operating lease liabilities-non-current	206,303	32,373	311,910
Operating lease liabilities-current	214,843	$ 33,714	215,300
Total operating lease liabilities	¥ 421,146		¥ 527,210
Weighted average remaining lease term	1 year 11 months 8 days	1 year 11 months 8 days	2 years 6 months 25 days
Weighted average discount rate	5.06%	5.06%	5.41%

Leases - Summary of Lease Cost

Leases - Summary of Lease Cost Recognized and Supplemental Cashflow Information Related to Operating Lease (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease cost	¥ 268,321	¥ 179,515	¥ 53,752
Short-term lease cost	420	4,249	2,291
Variable cost	9,166	6,396	1,557
Cash paid for operating leases	265,997	168,943	48,281
Right-of-use assets obtained in exchange for operating lease liabilities	¥ 269,601	¥ 448,148	¥ 295,454

Leases - Summary of Maturity of

Leases - Summary of Maturity of Operating Lease Liabilities under Non-Cancelable Operating Leases (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
2022	¥ 231,314
2023	147,847
2024	43,050
2025	14,644
2026	7,386
2027 and thereafter	2,074
Total lease payment	446,315
Less: interest	(25,169)
Present value of operating lease liability	¥ 421,146	¥ 527,210

Revenues - Summary of Revenue B

Revenues - Summary of Revenue By Channel for Respective Periods (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021CNY (¥)	Dec. 31, 2021USD ($)	Dec. 31, 2020CNY (¥)	Dec. 31, 2019CNY (¥)
Disaggregation Of Revenue [Line Items]
Total net revenues	¥ 5,839,973	$ 916,419	¥ 5,233,170	¥ 3,031,167
Sales to End Customers
Disaggregation Of Revenue [Line Items]
Total net revenues	4,878,453		4,548,804	2,670,831
Sales to Distributor Customers
Disaggregation Of Revenue [Line Items]
Total net revenues	941,322		678,873	359,629
Others Channels
Disaggregation Of Revenue [Line Items]
Total net revenues	¥ 20,198		¥ 5,493	¥ 707

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - CNY (¥)	12 Months Ended
Income Taxes - Additional Information (Details) - CNY (¥)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2017
Income Tax Disclosure [Line Items]
Tax rate on taxable income	16.50%
Uniform income tax rate	25.00%	25.00%	25.00%
Withholding tax percentage on dividend distributed by foreign investment enterprises	10.00%
Undistributed earnings and reserves available for distribution	¥ 54,822,000	¥ 46,230,000
Incremental foreign withholding taxes	2,741,000	2,312,000
Unrecognized uncertain tax positions	¥ 0	¥ 0
Hong Kong Tax Rate for Profits at 2 Million
Income Tax Disclosure [Line Items]
Tax rate on taxable income	8.25%
Hong Kong Tax Rate for Profits over 2 Million
Income Tax Disclosure [Line Items]
Tax rate on taxable income	16.50%
EIT Law
Income Tax Disclosure [Line Items]
Percentage of additional tax deduction for research and development activities	75.00%			50.00%
China and Hong Kong Special Administrative Region
Income Tax Disclosure [Line Items]
Minimum required investment percentage to consider 5% withholding tax rate	25.00%
China and Hong Kong Special Administrative Region \| Maximum
Income Tax Disclosure [Line Items]
Withholding tax percentage on dividend distributed by foreign investment enterprises	5.00%

Income Taxes - Summary of Compo

Income Taxes - Summary of Components of Current and Deferred Income Taxes (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021CNY (¥)	Dec. 31, 2021USD ($)	Dec. 31, 2020CNY (¥)	Dec. 31, 2019CNY (¥)
Income Tax Disclosure [Abstract]
Income (loss) before income tax expense	¥ (1,547,959)		¥ (2,681,445)	¥ 147,335
Current tax expense	4,507		3,519	75,671
Deferred income tax expenses (benefits)	(5,428)	$ (852)	3,451	(3,695)
Total income tax expense (benefit)	¥ (921)	$ (145)	¥ 6,970	¥ 71,976

Income Taxes - Effective Income

Income Taxes - Effective Income Tax Rate Reconciliation Permanent Differences Rate (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
PRC statutory income tax rate	25.00%	25.00%	25.00%
Permanent differences	(9.00%)	(17.00%)	15.00%
Tax effect of different tax rate of different jurisdictions	0.00%	0.00%	(1.00%)
Tax effect of Super Deduction and others	1.00%	0.00%	(2.00%)
Changes in valuation allowance	(17.00%)	(8.00%)	12.00%
Effective tax rates	0.00%	0.00%	49.00%

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Net operating loss carry forwards	¥ 470,227	¥ 222,325
Inventory valuation allowance	27,048	5,237
Accrued expenses and others	19,225	11,000
Total deferred tax assets	516,500	238,562
Less: valuation allowance	(514,500)	(237,965)
Deferred tax assets, net	¥ 2,000	¥ 597

Income Taxes - Movement of Valu

Income Taxes - Movement of Valuation Allowance (Details) - SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Valuation And Qualifying Accounts Disclosure [Line Items]
Balance at beginning of the year	¥ 237,965	¥ 18,677
Additions	276,535	219,288
Balance at end of the year	¥ 514,500	¥ 237,965

Income Taxes - Schedule of De_2

Income Taxes - Schedule of Deferred Tax Liabilities (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Related to acquired intangible assets	¥ 124,450	¥ 1,557

Ordinary Shares - Additional In

Ordinary Shares - Additional Information (Details) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands	Nov. 19, 2020CNY (¥)shares	Nov. 19, 2020USD ($)shares	Sep. 30, 2020shares	Apr. 30, 2020shares	Jul. 31, 2019shares	Dec. 31, 2021CNY (¥)shares	Dec. 31, 2020CNY (¥)shares	Dec. 31, 2019CNY (¥)shares	Dec. 31, 2021$ / sharesshares	Dec. 31, 2021¥ / sharesshares	Dec. 31, 2020$ / sharesshares	Dec. 31, 2017shares	Sep. 30, 2016USD ($)$ / sharesshares
Class Of Stock [Line Items]
Ordinary shares authorized share capital \| $													$ 50,000
Common stock, shares authorized					4,044,840,121				10,000,000,000	10,000,000,000	10,000,000,000		5,000,000,000
Common stock, par value \| $ / shares									$ 0.00001		$ 0.00001		$ 0.00001
Ordinary shares repurchased					7,713,574		62,388,247	17,197,032
Issuances of shares due to exercise of share options, shares						7,686,832
Total proceeds, net of issuance costs \| ¥							¥ 4,380,213
Repurchased of ordinary shares, consideration \| ¥						¥ 22,319	¥ 483,622	¥ 41,062
American Depositary Shares
Class Of Stock [Line Items]
Ordinary shares repurchased						1,846,823
Share Price \| ¥ / shares										¥ 12.0848
American Depositary Shares \| Initial Public Offering ("IPO")
Class Of Stock [Line Items]
Issuance of ordinary shares upon initial public offering, shares	67,562,500	67,562,500
Total proceeds, net of issuance costs	¥ 4,350,000	$ 664,700,000
Founders
Class Of Stock [Line Items]
Ordinary shares redesignated into preferred shares							6,443,998
Class A Ordinary Shares
Class Of Stock [Line Items]
Common stock, shares authorized					3,130,264,924				6,000,000,000	6,000,000,000	6,000,000,000
Ordinary shares, voting rights						one vote per share
Common stock, shares issued									1,938,303,919	1,938,303,919	1,736,321,157
Ordinary shares, decrease in authorized shares											392,306,730
Class A Ordinary Shares \| American Depositary Shares
Class Of Stock [Line Items]
Ordinary shares repurchased						7,387,292
Share Price \| ¥ / shares										¥ 3.0212
Repurchased of ordinary shares, consideration \| ¥						¥ 22,319
Class A Ordinary Shares \| American Depositary Shares \| Initial Public Offering ("IPO")
Class Of Stock [Line Items]
Issuance of ordinary shares upon initial public offering, shares	270,250,000	270,250,000
Class A Ordinary Shares \| Share Incentive Plan Trust
Class Of Stock [Line Items]
Common stock, shares issued											149,363,572
Class A Ordinary Shares \| Options
Class Of Stock [Line Items]
Issuances of shares due to exercise of share options, shares							15,518,385
Class B Ordinary Shares
Class Of Stock [Line Items]
Common stock, shares authorized					914,575,197				960,852,606	960,852,606	960,852,606
Common stock, par value \| $ / shares											$ 0.00001
Ordinary shares, voting rights						ten votes per share
Common stock, shares issued									758,869,844	758,869,844	960,852,606
Ordinary shares repurchased							62,388,247
Ordinary shares, increase in authorized shares											46,277,409
Class B Ordinary Shares \| Share Incentive Plan Trust
Class Of Stock [Line Items]
Common stock, shares issued											21,356,415
Class B Ordinary Shares \| Founders
Class Of Stock [Line Items]
Common stock, shares issued					157,846,049						93,753,239
Series C Preferred Shares
Class Of Stock [Line Items]
Temporary equity, shares issued								206,907,594
Temporary equity, increase in authorized shares											66,432,971
Temporary equity, nominal or par value \| $ / shares											$ 0.00001
Issuance of ordinary shares upon initial public offering, shares			39,859,783	26,573,188
Series C Preferred Shares \| Investors
Class Of Stock [Line Items]
Temporary equity, shares issued					7,713,574
Series Seed Preferred Shares
Class Of Stock [Line Items]
Temporary equity, shares issued												200,000,000
Temporary equity, increase in authorized shares											68,832,245
Temporary equity, nominal or par value \| $ / shares											$ 0.00001
Series Seed Preferred Shares \| Investors
Class Of Stock [Line Items]
Temporary equity, shares issued											62,388,247
Series D Preferred Shares
Class Of Stock [Line Items]
Temporary equity, shares issued											66,432,971
Temporary equity, increase in authorized shares											66,432,971
Temporary equity, nominal or par value \| $ / shares											$ 0.00001
Series E Preferred Shares
Class Of Stock [Line Items]
Temporary equity, shares issued											144,331,134
Temporary equity, increase in authorized shares											144,331,134
Temporary equity, nominal or par value \| $ / shares											$ 0.00001

Convertible Redeemable Prefer_3

Convertible Redeemable Preferred Shares ("Preferred Shares") - Additional Information (Details) $ in Thousands	Nov. 19, 2020shares	Apr. 30, 2020CNY (¥)shares	Dec. 31, 2021CNY (¥)	Dec. 31, 2021USD ($)	Dec. 31, 2020CNY (¥)shares	Dec. 31, 2019CNY (¥)shares
Temporary Equity [Line Items]
Conversion of preferred shares to ordinary shares \| shares	1,301,189,200
Simple interest rate on preferred shares annually			10.00%	10.00%
Dividends on Preferred and Ordinary Shares declared			¥ 0
Liquidation preference as percentage of issuance price			100.00%	100.00%
Accretion of Preferred Shares					¥ 242,209,000	¥ 59,200,000
Number of shares repurchased \| shares					132,718,241	60,349,275
Book value of repurchased shares					¥ 14,379,000	¥ 8,676,000
Deemed dividend					¥ 1,054,220,000	¥ 61,239,000
Ordinary shares re-designated into Preferred Shares \| shares		6,443,998			472,303,564	293,982,977
Fair value of newly issued Preferred Shares		¥ 35,142,000
Share-based compensation		1,852,000	¥ 530,440,000	$ 83,238	¥ 1,900,588,000	¥ 74,995,000
Ordinary Shares
Temporary Equity [Line Items]
Conversion of preferred shares to ordinary shares \| shares					1,301,189,200
Fair value of Ordinary Share repurchased		¥ 33,290,000
Junior Preferred Shares
Temporary Equity [Line Items]
Accretion of Preferred Shares					¥ 75,620,000	¥ 2,181,000
Number of shares repurchased \| shares					132,718,241	60,349,275
Book value of repurchased shares					¥ 14,379,000	¥ 8,676,000
Total consideration of repurchased shares					¥ 1,068,599,000	69,915,000
Number of shares issued \| shares					132,718,241
Total consideration for shares issued					¥ 1,068,599,000
Ordinary shares re-designated into Preferred Shares \| shares					195,106,488
Series B-1 Preferred Shares
Temporary Equity [Line Items]
Interest rate on preferred shares compounded annually			10.00%	10.00%
Series B-2 Preferred Shares
Temporary Equity [Line Items]
Interest rate on preferred shares compounded annually			10.00%	10.00%
Series B-3 Preferred Shares
Temporary Equity [Line Items]
Interest rate on preferred shares compounded annually			10.00%	10.00%
Accretion of Preferred Shares					¥ 4,810,000	4,920,000
Series B-3+ Preferred Shares
Temporary Equity [Line Items]
Interest rate on preferred shares compounded annually			10.00%	10.00%
Accretion of Preferred Shares					10,072,000	¥ 8,796,000
Number of shares issued \| shares						60,349,275
Total consideration for shares issued						¥ 69,915,000
Ordinary shares re-designated into Preferred Shares \| shares						87,075,383
Series C Preferred Shares
Temporary Equity [Line Items]
Simple interest rate on preferred shares annually			10.00%	10.00%
Accretion of Preferred Shares					¥ 76,015,000	¥ 34,678,000
Ordinary shares re-designated into Preferred Shares \| shares					66,432,971	206,907,594
Series D Preferred Shares
Temporary Equity [Line Items]
Simple interest rate on preferred shares annually			10.00%	10.00%
Accretion of Preferred Shares					¥ 36,442,000
Ordinary shares re-designated into Preferred Shares \| shares					66,432,971
Series E Preferred Shares
Temporary Equity [Line Items]
Simple interest rate on preferred shares annually			10.00%	10.00%
Accretion of Preferred Shares					¥ 30,819,000
Ordinary shares re-designated into Preferred Shares \| shares					144,331,134

Convertible Redeemable Prefer_4

Convertible Redeemable Preferred Shares ("Preferred Shares") - Summary of Issuances of Convertible Redeemable Preferred Shares (Details) $ / shares in Units, ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020CNY (¥)shares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019CNY (¥)shares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018CNY (¥)shares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017CNY (¥)shares	Dec. 31, 2017USD ($)$ / sharesshares
Series Seed
Temporary Equity [Line Items]
Issuance Date							Aug. 1, 2017	Aug. 1, 2017
Temporary equity, shares issued \| shares							200,000,000	200,000,000
Issue Price per Share \| $ / shares								$ 0.0050
Net Proceeds from Issuance							¥ 6,715	$ 1,000
Series Seed
Temporary Equity [Line Items]
Issuance Date	Mar. 25, 2020	Mar. 25, 2020
Temporary equity, shares issued \| shares	53,699,985	53,699,985
Issue Price per Share \| $ / shares		$ 1.0615
Net Proceeds from Issuance	¥ 403,230	$ 57,000
Series Seed
Temporary Equity [Line Items]
Issuance Date	Apr. 27, 2020	Apr. 27, 2020
Temporary equity, shares issued \| shares	45,315,250	45,315,250
Issue Price per Share \| $ / shares		$ 1.0615
Net Proceeds from Issuance	¥ 340,082	$ 48,100
Series Seed
Temporary Equity [Line Items]
Issuance Date	Apr. 27, 2020	Apr. 27, 2020
Temporary equity, shares issued \| shares	6,443,998	6,443,998
Issue Price per Share \| $ / shares		$ 0.00001
Series Seed
Temporary Equity [Line Items]
Issuance Date	Jul. 29, 2020	Jul. 29, 2020
Temporary equity, shares issued \| shares	21,479,994	21,479,994
Issue Price per Share \| $ / shares		$ 1.0615
Net Proceeds from Issuance	¥ 159,530	$ 22,800
Series Seed
Temporary Equity [Line Items]
Issuance Date	Sep. 11, 2020	Sep. 11, 2020
Temporary equity, shares issued \| shares	31,651,271	31,651,271
Issue Price per Share \| $ / shares		$ 1.5009
Net Proceeds from Issuance	¥ 324,882	$ 47,505
Series A-1
Temporary Equity [Line Items]
Issuance Date							Oct. 9, 2017	Oct. 9, 2017
Temporary equity, shares issued \| shares							66,667,000	66,667,000
Issue Price per Share \| $ / shares								$ 0.0150
Net Proceeds from Issuance							¥ 6,649	$ 1,000
Series A-2
Temporary Equity [Line Items]
Issuance Date							Oct. 9, 2017	Oct. 9, 2017
Temporary equity, shares issued \| shares							145,038,000	145,038,000
Issue Price per Share \| $ / shares								$ 0.0207
Net Proceeds from Issuance							¥ 20,000	$ 3,008
Series A-2
Temporary Equity [Line Items]
Issuance Date							Oct. 9, 2017	Oct. 9, 2017
Temporary equity, shares issued \| shares							38,677,000	38,677,000
Issue Price per Share \| $ / shares								$ 0.0207
Net Proceeds from Issuance							¥ 5,333	$ 802
Series A-2
Temporary Equity [Line Items]
Issuance Date	Mar. 25, 2020	Mar. 25, 2020
Temporary equity, shares issued \| shares	15,035,996	15,035,996
Issue Price per Share \| $ / shares		$ 1.0615
Net Proceeds from Issuance	¥ 112,904	$ 15,960
Series A-2
Temporary Equity [Line Items]
Issuance Date	Apr. 27, 2020	Apr. 27, 2020
Temporary equity, shares issued \| shares	27,923,992	27,923,992
Issue Price per Share \| $ / shares		$ 1.1173
Net Proceeds from Issuance	¥ 220,593	$ 31,200
Series B-1 Preferred Shares
Temporary Equity [Line Items]
Issuance Date					Sep. 5, 2018	Sep. 5, 2018
Temporary equity, shares issued \| shares					14,503,820	14,503,820
Issue Price per Share \| $ / shares						$ 0.0622
Net Proceeds from Issuance					¥ 6,158	$ 902
Series B-2 Preferred Shares
Temporary Equity [Line Items]
Issuance Date					Sep. 5, 2018	Sep. 5, 2018
Temporary equity, shares issued \| shares					171,289,239	171,289,239
Issue Price per Share \| $ / shares						$ 0.0655
Net Proceeds from Issuance					¥ 76,594	$ 11,220
Series B-3 Preferred Shares
Temporary Equity [Line Items]
Issuance Date					Oct. 22, 2018	Oct. 22, 2018
Temporary equity, shares issued \| shares					85,351,118	85,351,118
Issue Price per Share \| $ / shares						$ 0.0820
Net Proceeds from Issuance					¥ 48,465	$ 7,000
Series B-3+ Preferred Shares
Temporary Equity [Line Items]
Issuance Date			Feb. 25, 2019	Feb. 25, 2019
Temporary equity, shares issued \| shares			87,075,383	87,075,383
Issue Price per Share \| $ / shares				$ 0.1740
Net Proceeds from Issuance			¥ 101,704	$ 15,150
Series C Preferred Shares
Temporary Equity [Line Items]
Issuance Date			Jul. 26, 2019	Jul. 26, 2019
Temporary equity, shares issued \| shares			206,907,594	206,907,594
Issue Price per Share \| $ / shares				$ 0.5644
Net Proceeds from Issuance			¥ 789,872	$ 114,814
Series C
Temporary Equity [Line Items]
Issuance Date	Apr. 27, 2020	Apr. 27, 2020
Temporary equity, shares issued \| shares	26,573,188	26,573,188
Issue Price per Share \| $ / shares		$ 0.5644
Net Proceeds from Issuance	¥ 105,911	$ 14,999
Series C
Temporary Equity [Line Items]
Issuance Date	Sep. 11, 2020	Sep. 11, 2020
Temporary equity, shares issued \| shares	39,859,783	39,859,783
Issue Price per Share \| $ / shares		$ 0.5644
Net Proceeds from Issuance	¥ 153,866	$ 22,499
Series D Preferred Shares
Temporary Equity [Line Items]
Issuance Date	Mar. 25, 2020	Mar. 25, 2020
Temporary equity, shares issued \| shares	66,432,971	66,432,971
Issue Price per Share \| $ / shares		$ 1.1173
Net Proceeds from Issuance	¥ 508,411	$ 71,868
Series E Preferred Shares
Temporary Equity [Line Items]
Issuance Date	Sep. 11, 2020	Sep. 11, 2020
Temporary equity, shares issued \| shares	144,331,134	144,331,134
Issue Price per Share \| $ / shares		$ 1.5799
Net Proceeds from Issuance	¥ 1,543,323	$ 225,668

Convertible Redeemable Prefer_5

Convertible Redeemable Preferred Shares ("Preferred Shares") - Preferred Shares Activities (Details) - CNY (¥) ¥ in Thousands	1 Months Ended	12 Months Ended
	Apr. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Temporary Equity [Line Items]
Beginning Balance		¥ 1,129,987	¥ 187,887
Beginning Balance, Shares		955,159,879	721,526,177
Repurchase of preferred shares		¥ (14,379)	¥ (8,676)
Repurchases of ordinary shares, shares		(132,718,241)	(60,349,275)
Issuance of preferred shares, net of issuance costs		¥ 4,176,359	¥ 891,576
Issue of Preferred Shares, net of issuance costs, shares	6,443,998	472,303,564	293,982,977
Redesignation of Founder’s ordinary shares to preferred shares		¥ 35,142
Redesignation of founder’s ordinary shares to preferred shares		6,443,998
Accretion on preferred shares to redemption value		¥ 242,209	¥ 59,200
Redeemable convertible preferred shares converted into Class A ordinary shares upon the completion of the IPO		¥ (5,569,318)
Redeemable convertible preferred shares converted into Class A ordinary shares upon the completion of the IPO, Shares		(1,301,189,200)
Ending Balance		¥ 0	¥ 1,129,987
Ending Balance, Shares		0	955,159,879
Junior Preferred Shares
Temporary Equity [Line Items]
Beginning Balance		¥ 46,714	¥ 53,209
Beginning Balance, Shares		390,032,725	450,382,000
Repurchase of preferred shares		¥ (14,379)	¥ (8,676)
Repurchases of ordinary shares, shares		(132,718,241)	(60,349,275)
Issuance of preferred shares, net of issuance costs		¥ 1,561,221
Issue of Preferred Shares, net of issuance costs, shares		195,106,488
Redesignation of Founder’s ordinary shares to preferred shares		¥ 35,142
Redesignation of founder’s ordinary shares to preferred shares		6,443,998
Accretion on preferred shares to redemption value		¥ 75,620	¥ 2,181
Redeemable convertible preferred shares converted into Class A ordinary shares upon the completion of the IPO		¥ (1,704,318)
Redeemable convertible preferred shares converted into Class A ordinary shares upon the completion of the IPO, Shares		(458,864,970)
Ending Balance		¥ 0	¥ 46,714
Ending Balance, Shares		0	390,032,725
Series B One And B Two Preferred Shares
Temporary Equity [Line Items]
Beginning Balance		¥ 93,944	¥ 85,319
Beginning Balance, Shares		185,793,059	185,793,059
Accretion on preferred shares to redemption value		¥ 8,431	¥ 8,625
Redeemable convertible preferred shares converted into Class A ordinary shares upon the completion of the IPO		¥ (102,375)
Redeemable convertible preferred shares converted into Class A ordinary shares upon the completion of the IPO, Shares		(185,793,059)
Ending Balance		¥ 0	¥ 93,944
Ending Balance, Shares		0	185,793,059
Series B-3 Preferred Shares
Temporary Equity [Line Items]
Beginning Balance		¥ 54,279	¥ 49,359
Beginning Balance, Shares		85,351,118	85,351,118
Accretion on preferred shares to redemption value		¥ 4,810	¥ 4,920
Redeemable convertible preferred shares converted into Class A ordinary shares upon the completion of the IPO		¥ (59,089)
Redeemable convertible preferred shares converted into Class A ordinary shares upon the completion of the IPO, Shares		(85,351,118)
Ending Balance		¥ 0	¥ 54,279
Ending Balance, Shares		0	85,351,118
Series B-3+ Preferred Shares
Temporary Equity [Line Items]
Beginning Balance		¥ 110,500
Beginning Balance, Shares		87,075,383
Issuance of preferred shares, net of issuance costs			¥ 101,704
Issue of Preferred Shares, net of issuance costs, shares			87,075,383
Accretion on preferred shares to redemption value		¥ 10,072	¥ 8,796
Redeemable convertible preferred shares converted into Class A ordinary shares upon the completion of the IPO		¥ (120,572)
Redeemable convertible preferred shares converted into Class A ordinary shares upon the completion of the IPO, Shares		(87,075,383)
Ending Balance		¥ 0	¥ 110,500
Ending Balance, Shares		0	87,075,383
Series C Preferred Shares
Temporary Equity [Line Items]
Beginning Balance		¥ 824,550
Beginning Balance, Shares		206,907,594
Issuance of preferred shares, net of issuance costs		¥ 563,404	¥ 789,872
Issue of Preferred Shares, net of issuance costs, shares		66,432,971	206,907,594
Accretion on preferred shares to redemption value		¥ 76,015	¥ 34,678
Redeemable convertible preferred shares converted into Class A ordinary shares upon the completion of the IPO		¥ (1,463,969)
Redeemable convertible preferred shares converted into Class A ordinary shares upon the completion of the IPO, Shares		(273,340,565)
Ending Balance		¥ 0	¥ 824,550
Ending Balance, Shares		0	206,907,594
Series D Preferred Shares
Temporary Equity [Line Items]
Issuance of preferred shares, net of issuance costs		¥ 508,411
Issue of Preferred Shares, net of issuance costs, shares		66,432,971
Accretion on preferred shares to redemption value		¥ 36,442
Redeemable convertible preferred shares converted into Class A ordinary shares upon the completion of the IPO		¥ (544,853)
Redeemable convertible preferred shares converted into Class A ordinary shares upon the completion of the IPO, Shares		(66,432,971)
Ending Balance		¥ 0
Ending Balance, Shares		0
Series E Preferred Shares
Temporary Equity [Line Items]
Issuance of preferred shares, net of issuance costs		¥ 1,543,323
Issue of Preferred Shares, net of issuance costs, shares		144,331,134
Accretion on preferred shares to redemption value		¥ 30,819
Redeemable convertible preferred shares converted into Class A ordinary shares upon the completion of the IPO		¥ (1,574,142)
Redeemable convertible preferred shares converted into Class A ordinary shares upon the completion of the IPO, Shares		(144,331,134)
Ending Balance		¥ 0
Ending Balance, Shares		0

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Share-Based Compensation Expenses (Details) ¥ in Thousands, $ in Thousands	1 Months Ended	12 Months Ended
	Apr. 30, 2020CNY (¥)	Dec. 31, 2021CNY (¥)	Dec. 31, 2021USD ($)	Dec. 31, 2020CNY (¥)	Dec. 31, 2019CNY (¥)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expenses	¥ 1,852	¥ 530,440	$ 83,238	¥ 1,900,588	¥ 74,995
Share-based Compensation of Founders' Restricted Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expenses				1,030,178	50,837
Related to Repurchase of Founders' Ordinary Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expenses				146,294	¥ 24,158
Related to Issuances of Preferred Shares to Investors
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expenses				303,627
Related to Redesignation of Founder’s Ordinary Shares to Preferred Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expenses				1,852
Related to Accelerated Vesting of Share Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expenses		66,429		138,729
Related to Vesting of Share Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expenses		¥ 464,011		¥ 279,908

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) ¥ in Thousands, $ in Thousands	1 Months Ended						12 Months Ended
	Sep. 30, 2020CNY (¥)shares	Aug. 31, 2020CNY (¥)shares	Apr. 30, 2020CNY (¥)shares	Jul. 31, 2019shares	Nov. 30, 2017shares	Aug. 31, 2017	Dec. 31, 2021CNY (¥)shares	Dec. 31, 2021USD ($)shares	Dec. 31, 2020CNY (¥)shares	Dec. 31, 2019CNY (¥)shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expenses			¥ 1,852				¥ 530,440	$ 83,238	¥ 1,900,588	¥ 74,995
Ordinary shares repurchased				7,713,574					62,388,247	17,197,032
Repurchased of ordinary shares, consideration \| ¥							¥ 22,319		¥ 483,622	¥ 41,062
Number of options accelerated to vest immediately									15,518,385
Number of share options, granted							55,388,338	55,388,338	136,230,857	62,896,041
Unrecognized compensation expenses related to stock options \| ¥							¥ 645,171
Unrecognized compensation expenses period for recognition							1 year 8 months 1 day	1 year 8 months 1 day
Share Incentive Plan Trust
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation fair value of modified option \| ¥		¥ 0
Related to Vesting of Share Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum term of option							10 years	10 years
Maximum aggregate number of Ordinary Shares authorized							249,234,508
Series C Preferred Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued	39,859,783		26,573,188
Deemed share-based expense \| ¥									¥ 303,627
Ordinary Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	4 years			4 years
Shares granted	93,753,239			157,846,049
Shares vested				7,713,574
Shares subject to service conditions				150,132,475
Ordinary shares repurchased									62,388,247	17,197,032
Repurchased of ordinary shares, consideration \| ¥									¥ 4	¥ 1
Shares issued									270,250,000
Ordinary Shares \| Share Incentive Plan Trust
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued		170,719,987
Share-based Compensation of Founders' Restricted Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested shares Forfeited,					23,677,500
Share-based compensation expenses \| ¥									¥ 1,030,178	50,837
Related to Repurchase of Founders' Ordinary Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expenses \| ¥									146,294	24,158
Accelerated Vesting of Share Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expenses \| ¥							¥ 66,429		138,729
Number of options accelerated to vest immediately	15,518,385						5,595,868	5,595,868
Share-based compensation fair value of modified option \| ¥	¥ 138,729						¥ 77,898
Compensation expense for the unvested options \| ¥							11,469
Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expenses \| ¥							¥ 464,011		¥ 279,908
Founder's Share Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period				4 years
Tranche One \| Share-based Compensation of Founders' Restricted Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting, percentage						25.00%
Tranche One \| Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting, percentage							25.00%	25.00%
Vesting period							4 years	4 years
Tranche Two \| Share-based Compensation of Founders' Restricted Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting, percentage						75.00%
Vesting period						3 years
Tranche Two \| Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting, percentage							100.00%	100.00%
Vesting period							1 year	1 year
Share-Based Payment Arrangement, Tranche Three \| Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting, percentage							21.43%	21.43%
Vesting period							4 years	4 years
Share-Based Payment Arrangement, Tranche Four \| Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting, percentage							7.14%	7.14%
Vesting period							2 years	2 years

Share-Based Compensation - Move

Share-Based Compensation - Movement in Number of Share Options Granted and Related Weighted Average Exercise Prices (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of options, Beginning balance	185,907,876	68,589,097	67,404,501
Number of options, Granted	55,388,338	136,230,857	62,896,041
Number of options, Cancelled		(1,849,265)
Number of options, Forfeited	(4,570,510)	(1,544,428)	(3,414,045)
Number of options, Modified from options to restricted shares			(58,297,400)
Number of options, Accelerated vesting and exercised		(15,518,385)
Number of options, Exercised	(7,686,832)
Number of options, Ending balance	229,038,872	185,907,876	68,589,097	67,404,501
Number of options, Exercisable	52,682,699
Weighted average exercise price, Beginning balance	$ 0.2179	$ 0.0073	$ 0.0065
Weighted average exercise price, Granted	0.8790	0.2960	0.0080
Weighted average exercise price, Cancelled		0.0006
Weighted average exercise price, Forfeited	0.8782	0.2062	0.0065
Weighted average exercise price, Modified from options to restricted shares			0.0073
Weighted average exercise price, Exercised	0.0392
Weighted average exercise price, Ending balance	$ 0.3706	$ 0.2179	$ 0.0073	$ 0.0065
Weighted average remaining contractual life, balance	12 years 11 months 23 days	13 years 8 months 23 days	4 years 6 months 29 days	5 years 14 days
Aggregate intrinsic value,Balance	$ 38,230
Aggregate intrinsic value, Exercisable	$ 23,460

Share-Based Compensation - Sc_2

Share-Based Compensation - Schedule of Key Assumptions Used to Determine Fair Value of Share Options (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average fair value per option granted	$ 1.3882	$ 7.3798	$ 1.0360
Weighted average exercise price	$ 5.6699	$ 2.0418	$ 0.0554
Risk-free interest rate, Minimum	1.45%	0.48%	1.90%
Risk-free interest rate, Maximum	1.97%	1.01%	2.80%
Expected term	14 years
Expected volatility, Minimum	54.69%	50.90%	45.00%
Expected volatility, Maximum	57.00%	55.90%	48.00%
Dividend yield	0.00%	0.00%	0.00%
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term		10 years	4 years
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term		16 years	7 years

Share-Based Compensation - Sc_3

Share-Based Compensation - Schedule of Share-Based Compensation Expenses Included in Statement of Operations (Details) ¥ in Thousands, $ in Thousands	1 Months Ended	12 Months Ended
	Apr. 30, 2020CNY (¥)	Dec. 31, 2021CNY (¥)	Dec. 31, 2021USD ($)	Dec. 31, 2020CNY (¥)	Dec. 31, 2019CNY (¥)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expenses	¥ 1,852	¥ 530,440	$ 83,238	¥ 1,900,588	¥ 74,995
Fulfilment Expenses
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expenses		13,122		2,947
Selling and Marketing Expenses
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expenses		80,558		54,332
General and Administrative Expenses
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expenses		418,823		1,841,409	¥ 74,995
Research and Development Expenses
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expenses		¥ 17,937		¥ 1,900

Business Combinations - Schedul

Business Combinations - Schedule of Total Intangible Assets Acquired, Redeemable Non-controlling Interests and Goodwill Recognized (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2021CNY (¥)	Dec. 31, 2021USD ($)	Mar. 31, 2021CNY (¥)	Jan. 31, 2021CNY (¥)	Dec. 31, 2020CNY (¥)
Business Acquisition [Line Items]
Goodwill	¥ 869,421	$ 136,431			¥ 20,596
Dr. WU
Business Acquisition [Line Items]
Redeemable non-controlling interests				¥ 19,223
Intangible assets				52,840
Goodwill	134			134,433
Total				¥ 206,496
Dr WU and Lom
Business Acquisition [Line Items]
Redeemable non-controlling interests	338,587
Intangible assets	622,151
Goodwill	877,056
Total	1,837,794
Eve Lom
Business Acquisition [Line Items]
Redeemable non-controlling interests			¥ 319,364
Intangible assets			569,311
Goodwill	¥ 711		742,623
Total			¥ 1,631,298

Business Combinations - Additio

Business Combinations - Additional Information (Details) - CNY (¥) ¥ in Thousands	1 Months Ended
	Mar. 31, 2021	Jan. 31, 2021
Acquisition of Dr. WU Mainland China Business
Business Acquisition [Line Items]
Percentage of equity interest acquired		90.00%
Cash consideration		¥ 166,350
Percentage of shares held by seller at option price		10.00%
Acquisition of Eve Lom
Business Acquisition [Line Items]
Percentage of equity interest acquired	90.00%
Cash consideration	¥ 965,001
Percentage of shares held by seller at option price	10.00%

Business Combinations - Sched_2

Business Combinations - Schedule of Consideration of Fair Value of Assets Acquired and Liabilities Assumed (Details) ¥ in Thousands, $ in Thousands	1 Months Ended		12 Months Ended
	Mar. 31, 2021CNY (¥)	Jan. 31, 2021CNY (¥)	Dec. 31, 2021CNY (¥)	Dec. 31, 2020CNY (¥)	Dec. 31, 2021USD ($)
Business Acquisition [Line Items]
Weighted average amortization periods of intangible assets			16 years 3 months 18 days	14 years 1 month 6 days
Goodwill			¥ 869,421	¥ 20,596	$ 136,431
Acquisition of Dr. WU Mainland China Business
Business Acquisition [Line Items]
Cash consideration		¥ 166,350
Redeemable non-controlling interest		19,223
Total		185,573
Cash and cash equivalents acquired		5,158
Inventories acquired		5,447
Other assets acquired		5,353
Intangible assets acquired		52,840
Liabilities assumed		(4,448)
Deferred tax liabilities		(13,210)
Goodwill		134,433	134
Total		185,573
Acquisition of Eve Lom
Business Acquisition [Line Items]
Cash consideration	¥ 965,001
Redeemable non-controlling interest	319,364
Total	1,284,365
Cash and cash equivalents acquired	41,303
Inventories acquired	49,698
Accounts receivable acquired	29,393
Other assets acquired	35,780
Intangible assets acquired	569,311
Accrued expenses and other liabilities assumed	(28,674)
Accounts payable assumed	(17,675)
Other liabilities assumed	(15,899)
Deferred tax liabilities	(121,495)
Goodwill	742,623		¥ 711
Total	1,284,365
Trademarks \| Acquisition of Dr. WU Mainland China Business
Business Acquisition [Line Items]
Intangible assets acquired		¥ 45,940
Weighted average amortization periods of intangible assets		15 years
Trademarks \| Acquisition of Eve Lom
Business Acquisition [Line Items]
Intangible assets acquired	¥ 422,413
Weighted average amortization periods of intangible assets	20 years
Non-compete \| Acquisition of Dr. WU Mainland China Business
Business Acquisition [Line Items]
Intangible assets acquired		¥ 6,900
Weighted average amortization periods of intangible assets		5 years
Customer Relationship \| Acquisition of Eve Lom
Business Acquisition [Line Items]
Intangible assets acquired	¥ 94,369
Weighted average amortization periods of intangible assets	10 years
Technique \| Acquisition of Eve Lom
Business Acquisition [Line Items]
Intangible assets acquired	¥ 44,938
Weighted average amortization periods of intangible assets	10 years
Software \| Acquisition of Eve Lom
Business Acquisition [Line Items]
Intangible assets acquired	¥ 7,591
Software \| Acquisition of Eve Lom \| Minimum
Business Acquisition [Line Items]
Weighted average amortization periods of intangible assets	3 years
Software \| Acquisition of Eve Lom \| Maximum
Business Acquisition [Line Items]
Weighted average amortization periods of intangible assets	10 years

Business Combinations - Sched_3

Business Combinations - Schedule of Consideration of Fair Value of Assets Acquired and Liabilities Assumed (Parenthetical) (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2021CNY (¥)	Dec. 31, 2021USD ($)	Mar. 31, 2021CNY (¥)	Jan. 31, 2021CNY (¥)	Dec. 31, 2020CNY (¥)
Business Acquisition [Line Items]
Goodwill	¥ 869,421	$ 136,431			¥ 20,596
Acquisition of Dr. WU Mainland China Business
Business Acquisition [Line Items]
Goodwill	134			¥ 134,433
Acquisition of Eve Lom
Business Acquisition [Line Items]
Goodwill	¥ 711		¥ 742,623

Net Loss Per Share - Summary of

Net Loss Per Share - Summary of Basic and Diluted Net Income (Loss) per share (Details) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021CNY (¥)¥ / sharesshares	Dec. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2020CNY (¥)¥ / sharesshares	Dec. 31, 2019CNY (¥)¥ / sharesshares
Numerator:
Net income (loss) attributable to the Yatsen Holding Limited’s shareholders	¥ (1,540,734)	$ (241,774)	¥ (2,687,807)	¥ 75,359
Accretion to preferred shares redemption value			(242,209)	(59,200)
Deemed dividend due to modification of preferred shares			(1,054,220)	(61,239)
Net loss attributable to ordinary shareholders of Yatsen Holding Limited	¥ (1,540,734)	$ (241,774)	¥ (3,984,236)	¥ (45,080)
Denominator:
Denominator for basic and diluted calculation—weighted average number of ordinary shares outstanding \| shares	2,526,833,201	2,526,833,201	833,714,126	450,499,736
Net loss per ordinary share
—Basic \| (per share)	¥ (0.61)	$ (0.10)	¥ (4.78)	¥ (0.10)
—Diluted \| (per share)	¥ (0.61)	$ (0.10)	¥ (4.78)	¥ (0.10)

Net Loss Per Share - Summary _2

Net Loss Per Share - Summary of Antidilutive Securities Excluded from Computation of Net Income (Loss) per Share (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Conversion of Preferred Shares
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of net income (loss) per share		959,555,911	834,357,412
Related to Share Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of net income (loss) per share	209,409,699	113,142,382	85,255,920
Related to Founders’ Restricted Shares
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of net income (loss) per share		256,752,927	380,772,174

Related Party Transactions - Sc

Related Party Transactions - Schedule of Transactions with a Related Party (Details) - An Affiliated Company - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Purchases of Storage and Transportation Service
Related Party Transaction [Line Items]
Transactions with related parties	¥ 13,843	¥ 15,183
Purchases of Inventories and Services
Related Party Transaction [Line Items]
Transactions with related parties	¥ 24,472		¥ 389

Related Party Transactions - _2

Related Party Transactions - Schedule of Balances Amount with Related Parties (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2021CNY (¥)	Dec. 31, 2021USD ($)	Dec. 31, 2020CNY (¥)
Related Party Transaction [Line Items]
Amounts due from related parties	¥ 60	$ 9	¥ 14,370
Amounts due to related parties	13,967	$ 2,192	11,814
Founders
Related Party Transaction [Line Items]
Amounts due from related parties			13,050
Affiliated Companies
Related Party Transaction [Line Items]
Amounts due from related parties	60		1,320
An Affiliated Company
Related Party Transaction [Line Items]
Amounts due to related parties	¥ 13,967		¥ 11,814

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - CNY (¥)	Dec. 31, 2021	Dec. 31, 2020
Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Financial assets	¥ 0	¥ 0
Financial liabilities	0	0
Nonrecurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Financial assets	0	0
Financial liabilities	¥ 0	¥ 0

Commitments And Contingencies (

Commitments And Contingencies (Details) ¥ in Thousands	Dec. 31, 2021CNY (¥)
Commitments And Contingencies Disclosure [Abstract]
Investments in joint venture	¥ 480,000
Commitment amount	¥ 208,937

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) ¥ in Thousands, $ in Thousands	1 Months Ended		12 Months Ended
	Mar. 31, 2022CNY (¥)shares	Apr. 30, 2020CNY (¥)	Dec. 31, 2021CNY (¥)shares	Dec. 31, 2021USD ($)shares	Dec. 31, 2020CNY (¥)shares	Dec. 31, 2019CNY (¥)shares
Subsequent Event [Line Items]
Recognition of additional share-based compensation expense		¥ 1,852	¥ 530,440	$ 83,238	¥ 1,900,588	¥ 74,995
Number of options, Granted			55,388,338	55,388,338	136,230,857	62,896,041
Subsequent Events
Subsequent Event [Line Items]
Recognition of additional share-based compensation expense \| ¥	¥ 100,000
Number of options, Granted	61,032,143
Vesting period	4 years
Vesting, percentage	25.00%
Share based compensation arrangement by share options become vested commencement date thereafter period	4 years

Restricted Net Assets - Additio

Restricted Net Assets - Additional Information (Details) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021CNY (¥)
Receivables [Abstract]
Percentage of income after tax to reserve	10.00%
Percentage of surplus reserve fund of registered capital	50.00%
Group entities and VIEs subsidiary restricted amount	¥ 1,048,079
Percentage of restricted net assets of subsidiary exceeding consolidated net assets.	25.00%