<p>/PRNewswire/ -- 逸仙电商（&#34;逸仙&#34;或&#34;公司&#34;）（纽约证券交易所代码：YSG），一家领先的中国美容集团，今天宣布公司已与一个与 Trustar Capital 及公司创始人、董事会主席兼首席执行官黄金锋先生相关的投资工具（&#34;买方&#34;）签署了最终协议。根据该协议，买方将认购总额约为 1.2 亿美元的人民币计价可转换高级票据，分为两个相等的部分（&#34;第一票据&#34;和&#34;第二票据&#34;；合称为&#34;票据&#34;），并附带购买公司 A 类普通股的认股权证（&#34;认股权证&#34;）。黄先生作为个人投资者与 Trustar Capital 共同参与此次投资，彰显了他对公司长期前景的强烈信心。</p>
<p>在满足交割条件的情况下，预计第一票据将在 2026 年 3 月左右发行，第二票据预计将在今年晚些时候发行。该交易已获得董事会及其审计委员会的审查和批准。公司计划将票据发行的净收益用于未来的产品研发（&#34;R&amp;D&#34;）、全球供应链整合、海外市场扩展、战略并购（&#34;M&amp;A&#34;）及其他公司用途，以进一步推动公司的业务增长。</p>
<p>逸仙创始人、董事长兼首席执行官黄金锋先生表示：&#34;此次投资彰显了我对逸仙长期发展轨迹的坚定信心，以及我们团队对执行战略路线图的坚定承诺。在动态的市场环境中，我们仍然致力于打造一个具有韧性的多品牌美容集团。我们非常高兴能够欢迎 Trustar Capital 的世界级资源和深厚行业专业知识。未来，我们将加强战略合作伙伴关系，释放新的协同效应，为我们的股东推动可持续增长和价值创造。&#34;</p>
<p>中信资本董事长兼首席执行官、Trustar Capital 董事长张毅辰先生也评论道：&#34;我们高度认可逸仙在战略转型方面的持续承诺，特别是在产品组合优化、组织提升和品牌建设方面的不懈努力，这为可持续增长奠定了坚实基础。这项投资也反映了我们对黄金锋先生及其管理团队的深厚信心。他们具备卓越的全球视野，并在整合全球品牌资源方面展现了强大的能力。Trustar Capital 期待利用这一合作伙伴关系，支持逸仙通过跨境 M&amp;A 整合全球资源，加速其发展成为领先的全球美容集团。&#34;</p>
<p>除了资本支持，此次交易标志着战略联盟的深化。Trustar Capital 将利用其广泛的网络，帮助逸仙在美容行业价值链中捕捉战略协同效应。通过借助 Trustar Capital 在跨境收购和并购后整合方面的成功经验，逸仙旨在进一步推进其全球扩张战略，巩固其在全球美容市场的地位。</p>
<p><strong>票据和认股权证的条款</strong></p>
<p>票据的年利率为 1.5%，按半年支付。第一票据的初始到期日为自发行之日起 364 天，若公司收到来自中华人民共和国国家发展和改革委员会的外债登记证书（&#34;NDRC 证书&#34;），则将自动延长至五年。第二票据在满足适用的交割条件（包括收到 NDRC 证书）后发行，将在第一票据发行日期的第五个周年到期。在第一票据发行日期后的初始 364 天内，票据可转换为公司的 A 类普通股或美国存托股票（&#34;ADSs&#34;），每个 ADS 目前代表 20 股 A 类普通股，具体条款以票据为准。转换价格为 4.63 美元，反映出在票据购买协议签署日前五个连续交易日的 ADS 成交量加权平均价格基础上溢价 20%。在每次交割时，公司还将发行认股权证，允许认股权证持有人以无现金方式购买与相应票据转换后发行的 A 类普通股总数相等的十分之一的 A 类普通股，行使价格为每股 0.50 美元（相当于每 ADS 10.00 美元）。票据持有人有权要求公司在第一票据发行日期的第三个周年以现金回购全部或部分票据，回购价格反映 4% 的内部收益率（已支付的利息从应付金额中扣除）。公司还同意向买方授予与票据转换后可发行的 A 类普通股及认股权证行使相关的某些登记权利。</p>
<p>本交易下证券的发行尚未注册，并且根据 1933 年证券法（经修订）免于注册。本新闻稿不构成出售或招揽购买此处所述证券的要约，也不应在任何州或司法管辖区进行此类要约、招揽或销售。</p>
<p><strong>关于 Trustar Capital</strong></p>
<p>Trustar Capital 是中信资本控股有限公司的私募股权子公司，专注于全球控制性收购机会，自成立以来已在中国、日本、美国、欧洲等地完成了超过 100 项投资。Trustar Capital 目前管理着 102 亿美元的承诺资本。Trustar Capital 在美容行业拥有深厚的投资专业知识。其投资组合包括 Axilone，这是全球领先的主要美容包装供应商之一，为众多知名全球品牌提供服务。此外，Trustar Capital 在制药和生物技术领域的广泛布局使其能够为公司的前沿产品研发提供关键支持。Trustar Capital 还在推动数字化转型方面拥有良好的业绩记录。</p>
<p>欲了解更多信息，请访问 www.trustarcapital.com。</p>
<p><strong>关于逸仙控股有限公司</strong></p>
<p>逸仙控股有限公司（NYSE: YSG）是一家领先的中国美容集团，旨在成为全球美容创新的先锋。公司成立于 2016 年，推出并收购了多个彩妆和护肤品牌，包括_完美日记_、<em>小奥汀</em>、<em>粉色熊</em>、<em>Galénic</em>、<em>DR.WU</em>（其中国大陆业务）和_Eve Lom_。</p>
<p>欲了解更多信息，请访问 http://ir.yatsenglobal.com/。</p>
<p><strong>安全港声明</strong></p>
<p>本公告包含可能构成 “前瞻性” 声明的内容，这些声明是根据 1995 年美国私人证券诉讼改革法案的 “安全港” 条款作出的。这些前瞻性声明可以通过诸如 “将”、“期望”、“预期”、“旨在”、“未来”、“打算”、“计划”、“相信”、“估计”、“可能” 等术语识别。公司还可能在其定期向证券交易委员会（“SEC”）提交的报告、年度股东报告、新闻稿和其他书面材料中，以及其高管、董事或员工向第三方作出的口头声明中，作出书面或口头的前瞻性声明。非历史事实的声明，包括关于公司信念、计划、前景和期望的声明，均为前瞻性声明。前瞻性声明涉及固有的风险和不确定性。一些因素可能导致实际结果与任何前瞻性声明中包含的内容有实质性差异，包括但不限于以下因素：公司的增长战略；其未来的业务发展、运营结果和财务状况；其继续推出受欢迎产品和维持现有产品受欢迎程度的能力；其及时预测和应对行业趋势及消费者偏好和行为变化的能力；其吸引和留住新客户以及增加重复客户产生的收入的能力；其对产品和服务需求及市场接受度的预期；其整合新收购的业务和品牌的能力；与中国美容市场相关的趋势、竞争及政府政策和法规；其收入及某些成本或费用项目的变化；以及全球及中国的整体经济状况。有关这些及其他风险的进一步信息包含在公司向 SEC 提交的文件中。本新闻稿中提供的所有信息均为本新闻稿发布之日的信息，公司不承担更新任何前瞻性声明的义务，除非法律要求。</p>
<p><strong>如需投资者和媒体咨询，请联系：</strong></p>
<p>逸仙控股有限公司</p>
<p>投资者关系</p>
<p>电子邮件：ir@yatsenglobal.com</p>
<p>来源：逸仙控股有限公司</p>

逸仙电商

<p>逸仙电商（Yatsen Holding Limited）宣布进行一项人民币计价的可转换高级票据和认股权证的私募，金额约为 1.2 亿美元。此次投资由 Trustar Capital 和公司的创始人兼首席执行官黄金锋先生主导。资金将用于产品研发、全球供应链整合和战略并购。该票据的利率为 1.5%，并可按溢价转换为 A 类普通股。此次交易旨在增强逸仙在全球美容市场的地位，并提升其战略合作伙伴关系</p>

<p>, /PRNewswire/ -- Yatsen Holding Limited (&#34;Yatsen&#34; or the &#34;Company&#34;) (NYSE: YSG), a leading China-based beauty group, today announced that the Company has entered into a definitive agreement with an investment vehicle (the &#34;Purchaser&#34;) affiliated with Trustar Capital and Mr. Jinfeng Huang, the Company's founder, Chairman of the Board of Directors (the &#34;Board&#34;) and Chief Executive Officer. Pursuant to the agreement, the Purchaser will subscribe for RMB-denominated convertible senior notes in an aggregate principal amount equivalent to approximately US$120 million, to be issued in two equal tranches (the &#34;First Note&#34; and the &#34;Second Note&#34;; together, the &#34;Notes&#34;), together with warrants to purchase Class A ordinary shares of the Company (the &#34;Warrants&#34;). Mr. Huang is participating in this investment on a personal basis alongside Trustar Capital as a co-investor through the Purchaser, underscoring his strong confidence in the Company's long-term prospects.</p>
<div class="lb-trans"><p>/PRNewswire/ -- 逸仙电商（&#34;逸仙&#34;或&#34;公司&#34;）（纽约证券交易所代码：YSG），一家领先的中国美容集团，今天宣布公司已与一个与 Trustar Capital 及公司创始人、董事会主席兼首席执行官黄金锋先生相关的投资工具（&#34;买方&#34;）签署了最终协议。根据该协议，买方将认购总额约为 1.2 亿美元的人民币计价可转换高级票据，分为两个相等的部分（&#34;第一票据&#34;和&#34;第二票据&#34;；合称为&#34;票据&#34;），并附带购买公司 A 类普通股的认股权证（&#34;认股权证&#34;）。黄先生作为个人投资者与 Trustar Capital 共同参与此次投资，彰显了他对公司长期前景的强烈信心。</p>
</div><p>Subject to closing conditions, the First Note is expected to be issued in or around March 2026, and the Second Note is expected to be issued later this year. The transaction has been reviewed and approved by the Board and its audit committee. The Company plans to use the net proceeds from the issuance of the Notes for future product research and development (&#34;R&amp;D&#34;), global supply chain integration, overseas market expansion, and strategic mergers and acquisitions (&#34;M&amp;A&#34;), and other corporate purposes, to further drive the Company's business growth.</p>
<div class="lb-trans"><p>在满足交割条件的情况下，预计第一票据将在 2026 年 3 月左右发行，第二票据预计将在今年晚些时候发行。该交易已获得董事会及其审计委员会的审查和批准。公司计划将票据发行的净收益用于未来的产品研发（&#34;R&amp;D&#34;）、全球供应链整合、海外市场扩展、战略并购（&#34;M&amp;A&#34;）及其他公司用途，以进一步推动公司的业务增长。</p>
</div><p>Mr. Jinfeng Huang, Founder, Chairman, and CEO of Yatsen, stated: &#34;This investment underscores my unwavering confidence in Yatsen's long-term trajectory and our team's firm commitment to executing our strategic roadmap. In the face of a dynamic market environment, we remain dedicated to building a resilient, multi-brand beauty group. We are thrilled to welcome Trustar Capital's world-class resources and deep industry expertise. Going forward, we will strengthen our strategic partnership to unlock new synergies, driving sustainable growth and value creation for our shareholders.&#34;</p>
<div class="lb-trans"><p>逸仙创始人、董事长兼首席执行官黄金锋先生表示：&#34;此次投资彰显了我对逸仙长期发展轨迹的坚定信心，以及我们团队对执行战略路线图的坚定承诺。在动态的市场环境中，我们仍然致力于打造一个具有韧性的多品牌美容集团。我们非常高兴能够欢迎 Trustar Capital 的世界级资源和深厚行业专业知识。未来，我们将加强战略合作伙伴关系，释放新的协同效应，为我们的股东推动可持续增长和价值创造。&#34;</p>
</div><p>Mr. Yichen Zhang, Chairman and CEO of CITIC Capital and Chairman of Trustar Capital, also commented: &#34;We highly recognize Yatsen's continued commitment to its strategic transformation, particularly its relentless focus on product portfolio optimization, organizational enhancement, and brand building, which have established a solid foundation for sustainable growth. This investment also reflects our deep confidence in Mr. Jinfeng Huang and his management team. They possess an exceptional global vision and have demonstrated strong capability in integrating global brands resources. Trustar Capital looks forward to leveraging this partnership to support Yatsen in integrating global resources through cross-border M&amp;A, accelerating its evolution into a leading global beauty group.&#34;</p>
<div class="lb-trans"><p>中信资本董事长兼首席执行官、Trustar Capital 董事长张毅辰先生也评论道：&#34;我们高度认可逸仙在战略转型方面的持续承诺，特别是在产品组合优化、组织提升和品牌建设方面的不懈努力，这为可持续增长奠定了坚实基础。这项投资也反映了我们对黄金锋先生及其管理团队的深厚信心。他们具备卓越的全球视野，并在整合全球品牌资源方面展现了强大的能力。Trustar Capital 期待利用这一合作伙伴关系，支持逸仙通过跨境 M&amp;A 整合全球资源，加速其发展成为领先的全球美容集团。&#34;</p>
</div><p>Beyond capital support, this transaction marks a deepening strategic alliance. Trustar Capital will leverage its extensive network to assist Yatsen in capturing strategic synergies across the beauty industry value chain. By drawing on Trustar Capital's proven track record in cross-border acquisitions and post-merger integration, Yatsen aims to further its global expansion strategy and solidify its position in the global beauty market.</p>
<div class="lb-trans"><p>除了资本支持，此次交易标志着战略联盟的深化。Trustar Capital 将利用其广泛的网络，帮助逸仙在美容行业价值链中捕捉战略协同效应。通过借助 Trustar Capital 在跨境收购和并购后整合方面的成功经验，逸仙旨在进一步推进其全球扩张战略，巩固其在全球美容市场的地位。</p>
</div><p><strong>Terms of the Notes and the Warrants</strong></p>
<div class="lb-trans"><p><strong>票据和认股权证的条款</strong></p>
</div><p>The Notes will bear interest at a rate of 1.5% per annum, payable semi-annually. The First Note has an initial maturity of 364 days from issuance, which will automatically extend to five years upon the Company's receipt of a foreign debt registration certificate from the National Development and Reform Commission of the People's Republic of China (the &#34;NDRC Certificate&#34;). The Second Note, if issued following the satisfaction of the applicable closing conditions (including receipt of the NDRC Certificate), will mature on the fifth anniversary of the issue date of the First Note. Following an initial period of 364 days from the issue date of the First Note, the Notes may be converted into the Company's Class A ordinary shares or American depositary shares (&#34;ADSs&#34;), each currently representing twenty Class A ordinary shares, subject to the terms of the Notes. The conversion price is $4.63, reflecting a premium of 20% above the volume weighted average price of the ADSs for the five consecutive trading days prior to, and including, the trading day immediately preceding the date of the note purchase agreement. At each closing, the Company will also issue the Warrants entitling the Warrant holder to acquire, on a cashless basis, a number of Class A ordinary shares equal in the aggregate to one-tenth of the Class A ordinary shares issued upon conversion of the corresponding Note, at an exercise price of US$0.50 per Class A ordinary share (equivalent to US$10.00 per ADS). Holders of the Notes have the right to require the Company to repurchase all or part of the Notes for cash on the third anniversary of the issue date of the First Note at a repurchase price reflecting a 4% internal rate of return (with any interests already paid deducted from the amount payable). The Company has also agreed to grant the Purchaser certain registration rights with respect to the Class A ordinary shares issuable upon conversion of the Notes and exercise of the Warrants.</p>
<div class="lb-trans"><p>票据的年利率为 1.5%，按半年支付。第一票据的初始到期日为自发行之日起 364 天，若公司收到来自中华人民共和国国家发展和改革委员会的外债登记证书（&#34;NDRC 证书&#34;），则将自动延长至五年。第二票据在满足适用的交割条件（包括收到 NDRC 证书）后发行，将在第一票据发行日期的第五个周年到期。在第一票据发行日期后的初始 364 天内，票据可转换为公司的 A 类普通股或美国存托股票（&#34;ADSs&#34;），每个 ADS 目前代表 20 股 A 类普通股，具体条款以票据为准。转换价格为 4.63 美元，反映出在票据购买协议签署日前五个连续交易日的 ADS 成交量加权平均价格基础上溢价 20%。在每次交割时，公司还将发行认股权证，允许认股权证持有人以无现金方式购买与相应票据转换后发行的 A 类普通股总数相等的十分之一的 A 类普通股，行使价格为每股 0.50 美元（相当于每 ADS 10.00 美元）。票据持有人有权要求公司在第一票据发行日期的第三个周年以现金回购全部或部分票据，回购价格反映 4% 的内部收益率（已支付的利息从应付金额中扣除）。公司还同意向买方授予与票据转换后可发行的 A 类普通股及认股权证行使相关的某些登记权利。</p>
</div><p>The issuance of the securities under this transaction has not been registered and is exempt from registration under the Securities Act of 1933, as amended. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.</p>
<div class="lb-trans"><p>本交易下证券的发行尚未注册，并且根据 1933 年证券法（经修订）免于注册。本新闻稿不构成出售或招揽购买此处所述证券的要约，也不应在任何州或司法管辖区进行此类要约、招揽或销售。</p>
</div><p><strong>About Trustar Capital</strong></p>
<div class="lb-trans"><p><strong>关于 Trustar Capital</strong></p>
</div><p>Trustar Capital, the private equity affiliate of CITIC Capital Holdings Limited, focuses on control buyout opportunities globally and has completed over 100 investments since inception across China, Japan, U.S., Europe, etc. Trustar Capital currently manages US$10.2 billion of committed capital. Trustar Capital possesses profound investment expertise within the beauty industry. Its portfolio includes Axilone, one of the world's leading primary beauty packaging providers, which serves many prestigious global brands. Furthermore, Trustar Capital's extensive footprint in the pharmaceutical and biotechnology sectors positions it to provide critical support for the Company's cutting-edge product R&amp;D. Trustar Capital also brings a proven track record in driving digital transformation.</p>
<div class="lb-trans"><p>Trustar Capital 是中信资本控股有限公司的私募股权子公司，专注于全球控制性收购机会，自成立以来已在中国、日本、美国、欧洲等地完成了超过 100 项投资。Trustar Capital 目前管理着 102 亿美元的承诺资本。Trustar Capital 在美容行业拥有深厚的投资专业知识。其投资组合包括 Axilone，这是全球领先的主要美容包装供应商之一，为众多知名全球品牌提供服务。此外，Trustar Capital 在制药和生物技术领域的广泛布局使其能够为公司的前沿产品研发提供关键支持。Trustar Capital 还在推动数字化转型方面拥有良好的业绩记录。</p>
</div><p>For more information, please visit www.trustarcapital.com.</p>
<div class="lb-trans"><p>欲了解更多信息，请访问 www.trustarcapital.com。</p>
</div><p><strong>About Yatsen Holding Limited</strong></p>
<div class="lb-trans"><p><strong>关于逸仙控股有限公司</strong></p>
</div><p>Yatsen Holding Limited (NYSE: YSG) is a leading China-based beauty group with the vision of becoming a world-class pioneer in beauty innovation. Founded in 2016, the Company has launched and acquired numerous color cosmetics and skincare brands including <em>Perfect Diary</em>, <em>Little Ondine</em>, <em>Pink Bear</em>, <em>Galénic</em>, <em>DR.WU</em> (its mainland China business), and <em>Eve Lom</em>.</p>
<div class="lb-trans"><p>逸仙控股有限公司（NYSE: YSG）是一家领先的中国美容集团，旨在成为全球美容创新的先锋。公司成立于 2016 年，推出并收购了多个彩妆和护肤品牌，包括_完美日记_、<em>小奥汀</em>、<em>粉色熊</em>、<em>Galénic</em>、<em>DR.WU</em>（其中国大陆业务）和_Eve Lom_。</p>
</div><p>For more information, please visit http://ir.yatsenglobal.com/.</p>
<div class="lb-trans"><p>欲了解更多信息，请访问 http://ir.yatsenglobal.com/。</p>
</div><p><strong>Safe Harbor Statement</strong></p>
<div class="lb-trans"><p><strong>安全港声明</strong></p>
</div><p>This announcement contains statements that may constitute &#34;forward-looking&#34; statements which are made pursuant to the &#34;safe harbor&#34; provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as &#34;will,&#34; &#34;expects,&#34; &#34;anticipates,&#34; &#34;aims,&#34; &#34;future,&#34; &#34;intends,&#34; &#34;plans,&#34; &#34;believes,&#34; &#34;estimates,&#34; &#34;likely to,&#34; and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the Securities and Exchange Commission (&#34;SEC&#34;), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company's beliefs, plans, outlook and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company's growth strategies; its future business development, results of operations and financial condition; its ability to continue to roll out popular products and maintain popularity of existing products; its ability to anticipate and respond to changes in industry trends and consumer preferences and behavior in a timely manner; its ability to attract and retain new customers and to increase revenues generated from repeat customers; its expectations regarding demand for and market acceptance of its products and services; its ability to integrate newly-acquired businesses and brands; trends and competition in and relevant government policies and regulations relating to China's beauty market; changes in its revenues and certain cost or expense items; and general economic conditions globally and in China. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.</p>
<div class="lb-trans"><p>本公告包含可能构成 “前瞻性” 声明的内容，这些声明是根据 1995 年美国私人证券诉讼改革法案的 “安全港” 条款作出的。这些前瞻性声明可以通过诸如 “将”、“期望”、“预期”、“旨在”、“未来”、“打算”、“计划”、“相信”、“估计”、“可能” 等术语识别。公司还可能在其定期向证券交易委员会（“SEC”）提交的报告、年度股东报告、新闻稿和其他书面材料中，以及其高管、董事或员工向第三方作出的口头声明中，作出书面或口头的前瞻性声明。非历史事实的声明，包括关于公司信念、计划、前景和期望的声明，均为前瞻性声明。前瞻性声明涉及固有的风险和不确定性。一些因素可能导致实际结果与任何前瞻性声明中包含的内容有实质性差异，包括但不限于以下因素：公司的增长战略；其未来的业务发展、运营结果和财务状况；其继续推出受欢迎产品和维持现有产品受欢迎程度的能力；其及时预测和应对行业趋势及消费者偏好和行为变化的能力；其吸引和留住新客户以及增加重复客户产生的收入的能力；其对产品和服务需求及市场接受度的预期；其整合新收购的业务和品牌的能力；与中国美容市场相关的趋势、竞争及政府政策和法规；其收入及某些成本或费用项目的变化；以及全球及中国的整体经济状况。有关这些及其他风险的进一步信息包含在公司向 SEC 提交的文件中。本新闻稿中提供的所有信息均为本新闻稿发布之日的信息，公司不承担更新任何前瞻性声明的义务，除非法律要求。</p>
</div><p><strong>For investor and media inquiries, please contact:</strong></p>
<div class="lb-trans"><p><strong>如需投资者和媒体咨询，请联系：</strong></p>
</div><p>Yatsen Holding Limited</p>
<div class="lb-trans"><p>逸仙控股有限公司</p>
</div><p>Investor Relations</p>
<div class="lb-trans"><p>投资者关系</p>
</div><p>E-mail: ir@yatsenglobal.com</p>
<div class="lb-trans"><p>电子邮件：ir@yatsenglobal.com</p>
</div><p>SOURCE Yatsen Holding Limited</p>
<div class="lb-trans"><p>来源：逸仙控股有限公司</p>
</div>

Yatsen Announces Private Placement of Convertible Notes and Warrants | YSG Stock News

- Yatsen Holding 与 Trustar Capital 达成投资协议，融资约 1.2 亿美元。  
- 资金将用于产品研发、市场扩展及战略收购。  
- 黄锦锋对公司长期发展表示强信心，交易预计将于 2026 年 3 月完成。

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