THE WHAT? Yatsen Holding has completed the first tranche of its previously announced private placement transaction, with investment firm Hillhouse joining the deal alongside Trustar Capital and founder Jinfeng Huang.
THE DETAILS The China-based beauty group announced that affiliates of Hillhouse have joined the investment vehicle participating in the company’s RMB-denominated convertible senior notes and warrants transaction. The first tranche of the private placement closed on May 21, 2026, with the second tranche expected later this year subject to closing conditions. The total transaction value remains unchanged at approximately US$120 million across two equal tranches. Yatsen said proceeds from the financing will support product research and development, global supply chain integration, overseas market expansion, strategic mergers and acquisitions, and broader corporate initiatives. Founder, Chairman and CEO Jinfeng Huang said Hillhouse’s continued support reflects confidence in Yatsen’s long-term strategy and growth potential.
THE WHY? The financing strengthens Yatsen’s capital position as the company pursues international expansion, operational integration and long-term growth in an increasingly competitive global beauty market.
Source: PR Newswire
