GUANGZHOU, China, March 8,
2024 /PRNewswire/ -- Yatsen Holding Limited ("Yatsen"
or the "Company") (NYSE: YSG), a leading China-based beauty group, today announced
that, it will change the ratio of its American depositary shares
("ADSs") to its Class A ordinary shares (the "ADS Ratio") from one
(1) ADS representing four (4) Class A ordinary shares to one (1)
ADS representing twenty (20) Class A ordinary shares.
For the Company's ADS holders, the change in the ADS Ratio will
have the same effect as a one-for-five reverse ADS split. A
post-effective amendment to the ADS Registration Statement on Form
F-6 will be filed with the SEC to reflect the change in the ADS
Ratio. The Company anticipates that the change in the ADS Ratio
will be effective on or about March 18,
2024 (U.S. Eastern Time), subject to the effectiveness of
the post-effective amendment to the ADS Registration Statement on
Form F-6 on or before that date.
Each ADS holder of record at the close of business on the date
when the change in ADS Ratio is effective will be required to
surrender and exchange every five (5) existing ADSs then held for
one (1) new ADS. Deutsche Bank Trust Company Americas, as the
depositary bank for the Company's ADS program, will arrange for the
exchange of the current ADSs for the new ones.
No fractional new ADSs will be issued in connection with the
change in the ADS Ratio. Instead, fractional entitlements to new
ADSs will be aggregated and sold by the depositary bank and the net
cash proceeds from the sale of the fractional ADS entitlements
(after deduction of fees, taxes and expenses, where applicable)
will be distributed to the applicable ADS holders by the depositary
bank. The change in the ADS Ratio will have no impact on the
Company's underlying Class A ordinary shares, and no Class A
ordinary shares will be issued or cancelled in connection with the
change in the ADS Ratio. The Company's ADSs will continue to be
traded on the New York Stock Exchange under the ticker symbol
"YSG."
As a result of the change in ADS Ratio, the ADS trading price is
expected to increase proportionately, although the Company can give
no assurance that the ADS trading price after the change in the ADS
Ratio will be equal to or greater than five times the ADS trading
price before the change.
Safe Harbor Statement
This announcement contains statements that may constitute
"forward-looking" statements which are made pursuant to the "safe
harbor" provisions of the U.S. Private Securities Litigation Reform
Act of 1995. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "aims,"
"future," "intends," "plans," "believes," "estimates," "likely to,"
and similar statements. The Company may also make written or oral
forward-looking statements in its periodic reports to the
Securities and Exchange Commission ("SEC"), 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, which include 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.
About Yatsen Holding Limited
Yatsen Holding Limited (NYSE: YSG) is a leading
China-based beauty group with the
mission of creating an exciting new journey of beauty discovery for
consumers around the world. Founded in 2016, the Company has
launched and acquired numerous color cosmetics and skincare brands
including Perfect Diary, Little Ondine, Abby's
Choice, Galénic, DR.WU (its mainland China business), Eve Lom, Pink Bear and EANTiM. The
Company's flagship brand, Perfect Diary, is one of the
leading color cosmetics brands in China in terms of retail sales value. The
Company primarily reaches and engages with customers directly both
online and offline, with expansive presence across all major
e-commerce, social and content platforms in China.
For more information, please visit
http://ir.yatsenglobal.com/.
For investor and media inquiries, please contact:
In China:
Yatsen Holding Limited
Investor Relations
E-mail: ir@yatsenglobal.com
Piacente Financial Communications
Hui Fan
Tel: +86-10-6508-0677
E-mail: yatsen@thepiacentegroup.com
In the United
States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: yatsen@thepiacentegroup.com
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SOURCE Yatsen Holding Limited