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NEW YORK, March 26, 2026 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Yiren Digital Ltd. ("Yiren" or the "Company") (NYSE: YRD).

NEW YORK, March 31, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Yiren Digital Ltd. (“Yiren” or the “Company”) (NYSE: YRD). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

Yirendai (NYSE: YRD - Get Free Report) and QuoteMedia (OTCMKTS:QMCI - Get Free Report) are both small-cap computer and technology companies, but which is the better investment? We will compare the two companies based on the strength of their dividends, profitability, institutional ownership, risk, analyst recommendations, earnings and valuation. Profitability This table compares Yirendai and QuoteMedia's

, /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Yiren Digital Ltd. ("Yiren" or the "Company") (NYSE: YRD).  Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.  

The investigation concerns whether Yiren and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On March 19, 2026, Yiren announced its financial results for the fourth quarter and full year ended December 31, 2025.  Among other items, the Company reported fourth quarter revenue of approximately RMB 957.6 million, representing a decline of approximately 34% year-over-year and significantly below previously issued guidance of RMB 1.4 billion to RMB 1.6 billion.  Yiren also reported a net loss of approximately RMB 882.2 million for the quarter, compared to net income of approximately RMB 331.4 million in the prior-year period.  Yiren further disclosed that its provision for contingent liabilities increased significantly to approximately RMB 1.11 billion, up from approximately RMB 459.8 million in the prior quarter.  The Company also reported worsening delinquency rates across multiple categories, including increases in 1–30 day, 31–60 day, and 61–90 day delinquency rates compared to the prior quarter.  Yiren attributed these results to several factors, including a decline in service fee rates under a new regulatory framework, a strategic reduction in loan facilitation volume, and a higher-risk asset profile. 

On this news, Yiren's American Depositary Receipt ("ADR") price fell $1.65 per ADR, or 44.84%, to close at $2.03 per ADR on March 19, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising.  Prior results do not guarantee similar outcomes.  

CONTACT:

Danielle Peyton

Pomerantz LLP

[email protected]

646-581-9980 ext. 7980

SOURCE Pomerantz LLP

, /PRNewswire/ -- Yiren Digital Ltd. (NYSE: YRD) ("Yiren Digital" or the "Company"), a leading fintech company specializing in digital consumer lending, insurance and financial technology innovation across China and global markets, today announced its inclusion in the S&P Global Sustainability Yearbook (China Edition) 2026. Alongside this milestone, Yiren Digital was also honored with the "Industry Mover" distinction. The Yearbook is widely regarded as one of the most comprehensive annual publications evaluating corporate sustainability performance in China.

The recognition reflects Yiren Digital's performance in the 2025 S&P Global Corporate Sustainability Assessment (CSA), where the Company scored 50 out of 100, placing Yiren Digital in the top decile of the "Diversified Financial Services and Capital Markets" industry globally as of October 24, 2025, reflecting a 12-point improvement over the prior year. For the 2026 China Edition, nearly 1,800 companies were assessed, with only approximately 190 selected for inclusion. Yiren Digital was further honored with the "Industry Mover" distinction, recognizing the Company as the strongest year-over-year ESG performer in its industry. The Company delivered meaningful gains across key ESG dimensions, including a 6-point increase in governance and a 10-point increase in social performance. S&P Global classified the Company's overall data availability as High relative to industry peers.

"Our inclusion in the S&P Global Sustainability Yearbook (China Edition) 2026 reflects a conviction at the heart of our business: that a strong ESG strategy is inseparable from a strong fintech strategy," said Mr. Ning Tang, Chairman and Chief Executive Officer of Yiren Digital. "AI-powered risk management and information security are not simply compliance boxes to check; they are how we earn and keep the trust of the customers we serve. Expanding financial inclusion for underserved borrowers and small business owners is central to our mission. This recognition underscores that sustainable value creation and commercial growth are mutually reinforcing, and we will continue to build on that foundation."

Yiren Digital's Key Achievements in the 2025 Corporate Sustainability Assessment

Yiren Digital delivered strong performance across both the Social and Governance & Economic dimensions. The Social Dimension was Yiren Digital's strongest-performing dimension, with the Company achieving a score of 55/100, significantly ahead of the industry average of 24/100. The Governance & Economic Dimension also improved year over year, with performance exceeding industry averages across Risk & Crisis Management, Business Ethics and Information Security.

These results reflect the Company's continued focus on embedding risk management, data security and financial inclusion into its core operating model.

Yiren Digital's ESG Framework

Yiren Digital has established a three-tier ESG governance framework comprising a Board-level ESG Committee, management-level oversight, and an ESG working group. This structure integrates sustainability considerations into corporate strategy, business operations and risk management.

The Company has set targets to reach peak carbon emissions by 2030 and achieve net-zero greenhouse gas emissions from its own operations by 2060. In 2025, Yiren Digital published its second consecutive annual ESG Report alongside three ESG-related core policies, including its Occupational Health and Safety Policy, further strengthening its ESG disclosure framework. The Company's ESG reporting now covers more than 90 sub-topics aligned with CSA evaluation criteria.

About Yiren Digital

Yiren Digital Ltd. is a leading fintech company specializing in digital consumer lending, insurance, and financial technology innovation across China and global markets. The Company leverages advanced artificial intelligence and emerging technologies to enhance customer experience, optimize capital efficiency, and expand financial inclusion. With the successful filing of the in-house developed Large Language Model Zhiyu, the substantial upgrade of its Magicube Agent platform, Yiren Digital is establishing a new growth engine to position itself as an AI-powered next-generation fintech leader. For more information, please visit https://ir.yiren.com.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "confident," and similar expressions.

Forward-looking statements are based on management's current expectations, assumptions, and assessments of current market and operating conditions. These statements involve inherent risks, uncertainties, and other factors, many of which are outside the control of Yiren Digital Ltd. (NYSE: YRD) (the "Company"), and which could cause actual results to differ materially from those expressed or implied in such statements.

Such risks and uncertainties include, but are not limited to, significant fluctuations in loan origination volumes, changes in credit performance and delinquency trends, variations in take rates and monetization efficiency, availability and cost of funding, and the Company's ability to achieve its anticipated financial results or previously issued guidance.

In addition, the Company operates in a highly regulated industry in the People's Republic of China ("PRC"), and its business is materially affected by the evolving regulatory framework applicable to credit facilitation, consumer finance, online lending-related services, data security, and financial risk management. Regulatory policies and implementation measures in these areas have undergone, and may continue to undergo, significant and rapid changes, including changes in interpretation and enforcement.

Such regulatory developments may include, but are not limited to, adjustments to risk retention and capital requirements, restrictions on pricing, interest rates, or service fees, enhanced consumer protection and compliance obligations, data privacy and cybersecurity requirements, and limitations on certain business models or partnership structures. These measures may materially impact the Company's ability to originate loans, maintain relationships with funding partners, price its services competitively, or sustain historical revenue and profitability levels.

Furthermore, the timing, scope, and enforcement intensity of regulatory changes in the PRC are often uncertain and may vary across regions and over time. Such uncertainty may result in increased compliance costs, operational constraints, and strategic adjustments, and may also affect funding partner behavior, borrower demand, and overall industry liquidity.

In addition, shifts in regulatory policy and market expectations may adversely affect investor sentiment and capital market conditions for the industry, potentially resulting in reduced loan facilitation volumes, increased volatility in financial performance, and pressure on margins.

Actual results may differ materially from those expressed or implied in forward-looking statements due to a variety of factors, including, but not limited to, unexpected changes in regulatory policies or enforcement practices, macroeconomic conditions, borrower credit behavior, funding partner participation, competitive dynamics, and other risks described in the Company's filings with the U.S. Securities and Exchange Commission.

All forward-looking statements speak only as of the date of this press release. The Company undertakes no, and expressly disclaims any, obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required under applicable law.

SOURCE Yiren Digital

NEW YORK, April 21, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Yiren Digital Ltd. (“Yiren” or the “Company”) (NYSE: YRD). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether Yiren and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On March 19, 2026, Yiren announced its financial results for the fourth quarter and full year ended December 31, 2025. Among other items, the Company reported fourth quarter revenue of approximately RMB 957.6 million, representing a decline of approximately 34% year-over-year and significantly below previously issued guidance of RMB 1.4 billion to RMB 1.6 billion. Yiren also reported a net loss of approximately RMB 882.2 million for the quarter, compared to net income of approximately RMB 331.4 million in the prior-year period. Yiren further disclosed that its provision for contingent liabilities increased significantly to approximately RMB 1.11 billion, up from approximately RMB 459.8 million in the prior quarter. The Company also reported worsening delinquency rates across multiple categories, including increases in 1–30 day, 31–60 day, and 61–90 day delinquency rates compared to the prior quarter. Yiren attributed these results to several factors, including a decline in service fee rates under a new regulatory framework, a strategic reduction in loan facilitation volume, and a higher-risk asset profile. 

On this news, Yiren’s American Depositary Receipt (“ADR”) price fell $1.65 per ADR, or 44.84%, to close at $2.03 per ADR on March 19, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

Yiren Digital Ltd. (YRD) Presents at Deutsche Bank ADR Virtual Investor Conference Transcript

, /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Yiren Digital Ltd. ("Yiren" or the "Company") (NYSE: YRD).  Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.  

The investigation concerns whether Yiren and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On March 19, 2026, Yiren announced its financial results for the fourth quarter and full year ended December 31, 2025.  Among other items, the Company reported fourth quarter revenue of approximately RMB 957.6 million, representing a decline of approximately 34% year-over-year and significantly below previously issued guidance of RMB 1.4 billion to RMB 1.6 billion.  Yiren also reported a net loss of approximately RMB 882.2 million for the quarter, compared to net income of approximately RMB 331.4 million in the prior-year period.  Yiren further disclosed that its provision for contingent liabilities increased significantly to approximately RMB 1.11 billion, up from approximately RMB 459.8 million in the prior quarter.  The Company also reported worsening delinquency rates across multiple categories, including increases in 1–30 day, 31–60 day, and 61–90 day delinquency rates compared to the prior quarter.  Yiren attributed these results to several factors, including a decline in service fee rates under a new regulatory framework, a strategic reduction in loan facilitation volume, and a higher-risk asset profile. 

On this news, Yiren's American Depositary Receipt ("ADR") price fell $1.65 per ADR, or 44.84%, to close at $2.03 per ADR on March 19, 2026.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising.  Prior results do not guarantee similar outcomes.  

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

SOURCE Pomerantz LLP

Proprietary Multi-Agent Architecture Enables AI-Driven Execution Across Financial Services and Emerging AI-Native Verticals

, /PRNewswire/ -- Yiren Digital Ltd. (NYSE: YRD) ("Yiren Digital" or the "Company"), a leading fintech company specializing in digital consumer lending, insurance and financial technology innovation across China and global markets, today announced that AI is increasingly executing core workflows across its credit and insurance businesses. This shift is improving operating efficiency and unit economics, particularly in customer acquisition and servicing processes, and marks its transition toward an AI-native, multi-industry operating model.

This evolution from AI-assisted operations to agent-driven execution is enabled by Yiren Digital's proprietary AI architecture, which is now deployed across its credit and insurance operations and extending into selected AI-native verticals beyond financial services. The architecture spans a foundation model, a multi-agent platform, an agent execution layer, an enterprise AgentOS, and a workspace-level employee co-pilot.

Under its All-in-AI strategy, the Company is advancing its transition from a technology-enabled financial services platform toward an AI-native, multi-industry operating company. The strategy builds on over 5 years of the Company's purpose-built AI infrastructure and R&D investments, demonstrated operating impact across the Company's credit and insurance businesses, and an AI-executed internet insurance line that has emerged as a second growth engine.

"For years, we have been a fintech company that uses AI to do credit and insurance better," said Mr. Ning Tang, Chairman and Chief Executive Officer of Yiren Digital. "We are now becoming an AI-native, multi-industry company. This shift is already improving how we operate, allowing us to scale expertise, increase efficiency, and expand into new verticals with greater speed and discipline. Our proprietary AI capabilities, developed in one of the most regulated and security-intensive industries in the world, are designed to be portable across financial sub-sectors and adjacent verticals where domain knowledge, data, and agentic execution can scale and compound over time. All-in-AI is how we will operate, grow, and allocate capital from here forward."

From AI-Assisted Tools to AI-Driven Execution

Following the 2025 launch of its proprietary multi-agent platform, MagiCube, the Company's 2026 rollout of MagiCube 2.0 marks a pivotal operational shift. AI agents now function as autonomous executors rather than mere task assistants, delivering end-to-end outcomes across the enterprise lifecycle. Key milestones underpinning this architectural evolution include:

Zhiyu - the Company's proprietary large language model (LLM), received regulatory filing approval in April 2025 and serves as the foundational intelligence layer. MagiCube - the Company's multi-agent integration platform, launched in October 2025 as the connective infrastructure for large-scale agent deployment across sales, risk, capital, compliance, and customer service. MagiCube 2.0 - introduced in 2026, restructures the platform around two specialized layers: XuanJi, for human-and-organization workflow execution, and ZhiNao, the enterprise-wide AgentOS for LLM coordination and multi-agent orchestration. XuanJi: AI-Driven Execution for Labor-Intensive Workflows

XuanJi is the Company's AI-driven workflow execution layer, delivering business outcomes directly across high-volume, repetitive processes including outbound customer service, telesales, insurance proposal generation, lending operations, and post-sale engagement. By moving these functions from human-assisted tasks to agent-delivered results, XuanJi structurally improves cost-to-serve, response speed, and consistency.

ZhiNao: The Enterprise AgentOS

ZhiNao is the Company's centralized orchestration and governance layer, an AgentOS that coordinates LLMs and agents, routes workflows, manages permissions, integrates enterprise knowledge, and enforces AI governance across the organization. ZhiNao serves as the single coordination hub for every agent the Company deploys, internal or third-party, and scales agent-driven operations across knowledge-intensive functions such as advisory services, strategic analysis, and management decision support.

Workspace AI and AI Buddy: A Platform for Human-Agent Collaboration

Workspace AI is the Company's enterprise-wide operating platform connecting employees, AI agents, knowledge systems, and intelligent workflows in a unified execution environment. Its employee-facing interface, AI Buddy, provides every colleague with a personalized co-pilot routed through ZhiNao, a single interface giving frontline staff and management direct access to enterprise data, agentic workflows, and approved third-party AI tools. All agent-driven workflows within the platform operate under a centralized governance framework, ensuring compliance, auditability and risk control across regulated business lines.

A Proven Track Record of AI-Driven Operating Impact

Yiren Digital's All-in-AI strategy has become a core driver of financial performance, delivering enhanced operating leverage across our ecosystem. In fiscal year 2025, integrating proprietary AI agents and LLMs generated meaningful cost efficiencies, and the continued upgrade of the Company's enterprise AI architecture is expected to further accelerate these benefits. Most notably, AI-powered precision marketing has reduced sales & marketing and customer service expenses as a percentage of total revenue. This migration toward an agent-led execution model has fundamentally bolstered our unit economics and positioned the Company for sustainable, profitable growth.

Beyond operational efficiency, our AI infrastructure is a proven engine for rapid business scaling. By repurposing the core AI architecture engineered for our credit operations, our internet insurance distribution business achieved rapid, consecutive-quarter premium growth, becoming an increasingly meaningful revenue contributor. This validates our strategic thesis: a portable AI stack, combined with a massive established user base, creates a structural advantage that drastically accelerates time-to-market. Capitalizing on this momentum, we are advancing an autonomous AI insurance agent assistant, currently in alpha-stage for internal testing. The platform is designed to automate standardized advisory tasks across the insurance customer journey. It will structurally lower customer acquisition costs while freeing up human agents' time to focus more on higher-value client relationship development activities.

Extending All-in-AI Beyond Financial Services: A Capital-Light Ecosystem for Structural AI Growth

Yiren Digital is expanding its All-in-AI strategy through strategic minority investments in high-growth AI startups, further extending its ecosystem. The Company is leveraging its proprietary AI infrastructure and operational experience gained from serving over 14 million cumulative credit customers and more than 2 million insurance customers to support ecosystem partners and emerging AI-native initiatives. By focusing on AI-native verticals where results and benefits drive value, such as AI-enabled learning, interactive entertainment, and autonomous services, this capital-light approach enables the Company to capture structural AI growth while maintaining disciplined capital allocation and limiting execution risk.

According to IDC (International Data Corporation) research, active AI agents deployed by Chinese enterprises are projected to grow at a ~135% CAGR through 2031. This rapid expansion will increasingly favor companies with integrated, agent-orchestrated operating systems over those relying on fragmented point solutions, a trend that aligns with Yiren Digital's architecture and strategy. By unifying intelligence, decision-making, and execution across its proprietary stack, from the Zhiyu foundation model to the ZhiNao AgentOS, Yiren Digital has built a highly scalable architecture. Paired with disciplined capital allocation and a stabilizing credit environment in 2026, this cohesive system is positioned to drive renewed revenue and margin momentum in the periods ahead, supported by continued deployment of agent-driven workflows across its core businesses.

About Yiren Digital

Yiren Digital Ltd. is a leading fintech company specializing in digital consumer lending, insurance, and financial technology innovation across China and global markets. The Company leverages advanced artificial intelligence and emerging technologies to enhance customer experience, optimize capital efficiency, and expand financial inclusion. Following the regulatory filing of its in-house developed Large Language Model Zhiyu, and the significant enhancement of its MagiCube Agent platform, Yiren Digital is establishing a new growth engine to accelerate its evolution into an AI-native, multi-industry operating platform extending beyond traditional financial services. For more information, please visit https://ir.yiren.com.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "confident," and similar expressions.

Forward-looking statements are based on management's current expectations, assumptions, and assessments of current market and operating conditions. These statements involve inherent risks, uncertainties, and other factors, many of which are outside the control of Yiren Digital Ltd. (NYSE: YRD) (the "Company"), and which could cause actual results to differ materially from those expressed or implied in such statements.

Such risks and uncertainties include, but are not limited to, significant fluctuations in loan origination volumes, changes in credit performance and delinquency trends, variations in take rates and monetization efficiency, availability and cost of funding, and the Company's ability to achieve its anticipated financial results or previously issued guidance.

In addition, the Company operates in a highly regulated industry in the People's Republic of China ("PRC"), and its business is materially affected by the evolving regulatory framework applicable to credit facilitation, consumer finance, online lending-related services, data security, and financial risk management. Regulatory policies and implementation measures in these areas have undergone, and may continue to undergo, significant and rapid changes, including changes in interpretation and enforcement.

Such regulatory developments may include, but are not limited to, adjustments to risk retention and capital requirements, restrictions on pricing, interest rates, or service fees, enhanced consumer protection and compliance obligations, data privacy and cybersecurity requirements, and limitations on certain business models or partnership structures. These measures may materially impact the Company's ability to originate loans, maintain relationships with funding partners, price its services competitively, or sustain historical revenue and profitability levels.

Furthermore, the timing, scope, and enforcement intensity of regulatory changes in the PRC are often uncertain and may vary across regions and over time. Such uncertainty may result in increased compliance costs, operational constraints, and strategic adjustments, and may also affect funding partner behavior, borrower demand, and overall industry liquidity.

In addition, shifts in regulatory policy and market expectations may adversely affect investor sentiment and capital market conditions for the industry, potentially resulting in reduced loan facilitation volumes, increased volatility in financial performance, and pressure on margins.

Actual results may differ materially from those expressed or implied in forward-looking statements due to a variety of factors, including, but not limited to, unexpected changes in regulatory policies or enforcement practices, macroeconomic conditions, borrower credit behavior, funding partner participation, competitive dynamics, and other risks described in the Company's filings with the U.S. Securities and Exchange Commission.

All forward-looking statements speak only as of the date of this press release. The Company undertakes no, and expressly disclaims any, obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required under applicable law.

SOURCE Yiren Digital

Covering AI Entertainment, AI-Assisted Language Learning, and AI Research Productivity

Supported by Structured Investment Options and Future Ownership Rights

, /PRNewswire/ -- Yiren Digital Ltd. (NYSE: YRD) ("Yiren Digital" or the "Company"), a leading fintech company specializing in digital consumer lending, insurance and financial technology innovation across China and global markets, today announced the completion of strategic follow-on investments in three early-stage, high-growth AI application companies. These companies operate across emerging artificial intelligence application domains, with a focus on AI entertainment, AI-assisted language learning, and AI research productivity, further expanding the Company's "All-in-AI" ecosystem.

In addition to existing preferred equity positions, the Company has entered into performance-based equity warrants providing the right, but not the obligation, to acquire additional equity interests at pre-agreed valuation terms. Subject to defined performance milestones and payment of consideration, the Company may increase its ownership position, including potentially obtaining majority control in certain portfolio companies.

These arrangements are staged investment rights and do not constitute current control, de facto control, or consolidation. Any future change in ownership will occur only upon satisfaction of contractual conditions and completion of required payments, and all subsequent exercises will be subject to applicable regulatory requirements and corporate governance procedures.

The Company believes artificial intelligence is evolving from foundational infrastructure into large-scale commercial applications that directly shape user behavior and digital experiences, with the application layer expected to be a key long-term value-creation segment across education, media, and consumer-facing verticals.

Through its AI application-layer strategy, the Company invests in early-stage AI businesses close to end users, balancing strategic exposure, capital efficiency, and long-term optionality.

The Company maintains minority positions with staged pathways for potential future ownership increases, enabling participation in the growth of AI-native companies while maintaining disciplined capital allocation. These investments also complement the Company's broader "All-in-AI" transformation and ongoing expansion of its AI capabilities.

Strategic Rationale: Building an Agentic AI Ecosystem

The Company views the AI industry as evolving beyond generative interfaces toward autonomous, context-aware, and action-oriented systems. Agentic AI is expected to become a foundational layer of future digital interaction, enabling AI agents to execute complex tasks and support decision-making across consumer and enterprise environments. Through this lens, Yiren Digital is constructing an interconnected AI application ecosystem designed to generate strategic synergies across content, education, productivity, and entertainment. This approach aims to reinforce user acquisition, data intelligence, and cross-platform monetization over the long term.

Portfolio Overview: Targeting High-Growth Verticals

The newly added portfolio companies represent targeted exposure to distinct, high-growth AI verticals:

An AI-native entertainment company founded by Gen-Z creators that develops interactive storytelling and fan-driven content ecosystems, now building its own IP into a multi-format entertainment universe with strong early user growth and monetization potential. A company aligned with leading AI-driven education platforms and focused on personalized learning at scale. It leverages generative AI to deliver adaptive learning experiences that improve efficiency, accessibility, and user engagement across language and skill development markets, and is highly scalable. A specialized AI education technology company focused on academic productivity. It applies generative AI and knowledge systems to streamline research workflows, improve information validation, and reduce publishing friction, addressing a growing demand for AI-enabled professional research and publication tools in academic area. Strategic Outlook and Enterprise Transformation

Looking ahead, Yiren Digital intends to continue expanding its presence in the AI application economy. Future strategic investments are expected to focus on sectors where the Company believes artificial intelligence can meaningfully change how users learn, interact, and consume content, including intelligent digital engagement platforms, AI-powered media ecosystems, and autonomous workflow systems.

In parallel, the Company continues to advance its enterprise-wide AI transformation. By integrating its proprietary AI architecture and internal agentic workflows with external ecosystem investments, Yiren Digital believes it can participate across multiple layers of AI-driven value creation over the long term.

About Yiren Digital

Yiren Digital Ltd. is a leading fintech company specializing in digital consumer lending, insurance, and financial technology innovation across China and global markets. The Company leverages advanced artificial intelligence and emerging technologies to enhance customer experience, optimize capital efficiency, and expand financial inclusion. Following the regulatory filing of its in-house developed Large Language Model Zhiyu, and the significant enhancement of its MagiCube Agent platform, Yiren Digital is establishing a new growth engine to accelerate its evolution into an AI-native, multi-industry operating platform extending beyond traditional financial services. For more information, please visit https://ir.yiren.com.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "confident," and similar expressions.

Forward-looking statements are based on management's current expectations, assumptions, and assessments of current market and operating conditions. These statements involve inherent risks, uncertainties, and other factors, many of which are outside the control of Yiren Digital Ltd. (NYSE: YRD) (the "Company"), and which could cause actual results to differ materially from those expressed or implied in such statements.

Such risks and uncertainties include, but are not limited to, significant fluctuations in loan origination volumes, changes in credit performance and delinquency trends, variations in take rates and monetization efficiency, availability and cost of funding, and the Company's ability to achieve its anticipated financial results or previously issued guidance.

In addition, the Company operates in a highly regulated industry in the People's Republic of China ("PRC"), and its business is materially affected by the evolving regulatory framework applicable to credit facilitation, consumer finance, online lending-related services, data security, and financial risk management. Regulatory policies and implementation measures in these areas have undergone, and may continue to undergo, significant and rapid changes, including changes in interpretation and enforcement.

Such regulatory developments may include, but are not limited to, adjustments to risk retention and capital requirements, restrictions on pricing, interest rates, or service fees, enhanced consumer protection and compliance obligations, data privacy and cybersecurity requirements, and limitations on certain business models or partnership structures. These measures may materially impact the Company's ability to originate loans, maintain relationships with funding partners, price its services competitively, or sustain historical revenue and profitability levels.

Furthermore, the timing, scope, and enforcement intensity of regulatory changes in the PRC are often uncertain and may vary across regions and over time. Such uncertainty may result in increased compliance costs, operational constraints, and strategic adjustments, and may also affect funding partner behavior, borrower demand, and overall industry liquidity.

In addition, shifts in regulatory policy and market expectations may adversely affect investor sentiment and capital market conditions for the industry, potentially resulting in reduced loan facilitation volumes, increased volatility in financial performance, and pressure on margins.

Actual results may differ materially from those expressed or implied in forward-looking statements due to a variety of factors, including, but not limited to, unexpected changes in regulatory policies or enforcement practices, macroeconomic conditions, borrower credit behavior, funding partner participation, competitive dynamics, and other risks described in the Company's filings with the U.S. Securities and Exchange Commission.

All forward-looking statements speak only as of the date of this press release. The Company undertakes no, and expressly disclaims any, obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required under applicable law.

SOURCE Yiren Digital Ltd.

, /PRNewswire/ -- Yatsen Holding Limited ("Yatsen" or the "Company") (NYSE: YSG), a leading China-based beauty group, today announced that the Company has filed its annual report on Form 20-F for the fiscal year ended December 31, 2025 with the U.S. Securities and Exchange Commission ("SEC") on April 29, 2026.

The annual report is available on the Company's investor relations website at ir.yatsenglobal.com and on the SEC's website at https://www.sec.gov/. The Company will provide hard copies of the annual report, free of charge, to its shareholders and ADS holders upon written request. Requests should be directed to Investor Relations Department, Yatsen Holding Limited, Floor 39, Poly Development Plaza, No. 832 Yue Jiang Zhong Road, Haizhu District, Guangzhou 510335, People's Republic of China.

About Yatsen Holding Limited

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 Perfect Diary, Little Ondine, Pink Bear, Galénic, DR.WU (its mainland China business), and Eve Lom. Our brands are strategically positioned to capture a wide spectrum of consumer demographics and price points, ranging from the mass market to the prestige and clinical segments. Yatsen thrives on the synergy of brand equity, product strength and operational agility, anchored by a strong commitment to R&D and consumer insights.

For more information, please visit http://ir.yatsenglobal.com/.

For investor and media inquiries, please contact:

Yatsen Holding Limited
Investor Relations
E-mail: [email protected]

SOURCE Yatsen Holding Limited

, /PRNewswire/ -- Yatsen Holding Limited ("Yatsen" or the "Company") (NYSE: YSG), a leading China-based beauty group, today announced that it will release its unaudited financial results for the first quarter of 2026, on Tuesday, May 26, 2026, before the open of the U.S. markets.

The Company's management will hold a conference call on Tuesday, May 26, 2026 at 7:30 A.M. U.S. Eastern Time (7:30 P.M. Beijing/Hong Kong Time) to discuss the financial results. Listeners may access the call by dialing the following numbers:

United States (toll free):

+1-888-346-8982

International:

+1-412-902-4272

Mainland China (toll free):

400-120-1203

Hong Kong (toll free):

800-905-945

Hong Kong:

+852-3018-4992

A live and archived webcast of the conference call will be available on the Company's investor relations website at http://ir.yatsenglobal.com.

A replay of the conference call will be accessible by phone one hour after the conclusion of the live call at the following numbers, until June 2, 2026:

United States:

+1-855-669-9658

International:

+1-412-317-0088

Replay Access Code:

4359154

About Yatsen Holding Limited

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 Perfect Diary, Little Ondine, Pink Bear, Galénic, DR.WU (its mainland China business), and Eve Lom. Our brands are strategically positioned to capture a wide spectrum of consumer demographics and price points, ranging from the mass market to the prestige and clinical segments. Yatsen thrives on the synergy of brand equity, product strength and operational agility, anchored by a strong commitment to R&D and consumer insights.

For more information, please visit http://ir.yatsenglobal.com.

For investor and media inquiries, please contact:

Yatsen Holding Limited
Investor Relations
E-mail: [email protected]

SOURCE Yatsen Holding Limited

Conference Call to Be Held at 7:30 A.M. U.S. Eastern Time on May 26, 2026

, /PRNewswire/ -- Yatsen Holding Limited ("Yatsen" or the "Company") (NYSE: YSG), a leading China-based beauty group, today announced its unaudited financial results for the quarter ended March 31, 2026.

First Quarter 2026 Highlights

Total net revenues for the first quarter of 2026 increased by 22.5% to RMB1.02 billion (US$148.0 million) from RMB833.5 million for the prior year period. Total net revenues from Skincare Brands[1] for the first quarter increased by 58.5% to RMB574.2 million (US$83.2 million) from RMB362.4 million for the prior year period. As a percentage of total net revenues, total net revenues from Skincare Brands for the first quarter of 2026 were 56.2%, as compared with 43.5% for the prior year period. Gross margin for the first quarter of 2026 increased to 80.2% from 79.1% for the prior year period. Net loss for the first quarter of 2026 was RMB61.9 million (US$9.0 million), as compared with RMB5.6 million for the prior year period. Non-GAAP net loss[2] for the first quarter of 2026 was RMB57.3 million (US$8.3 million), as compared with non-GAAP net income of RMB7.1 million for the prior year period. Mr. Jinfeng Huang, Founder, Chairman and Chief Executive Officer of Yatsen, stated, "For the first quarter of 2026, we delivered top-line growth that met our previous guidance and demonstrated the ongoing resilience of our multi-brand strategy. Our growth this quarter was primarily propelled by the sustained upward momentum of our Skincare Brands, which experienced substantial year-over-year growth of 58.5%. Guided by our vision to become a world-class pioneer in beauty innovation, we remain committed to strengthening our R&D-led innovation, expanding our hero product families, and positioning our core brands for high-quality growth. Furthermore, we are pleased to note that we completed the first closing of our private placement of convertible notes and warrants in an aggregate principal amount equivalent to approximately US$120 million, with participation from Trustar Capital, Hillhouse and myself, on May 21, 2026. This successful closing serves as a powerful testament to our shareholders' long-term confidence in Yatsen's strategic direction and future value."

Mr. Donghao Yang, Director and Chief Financial Officer of Yatsen, commented, "Our financial results for the first quarter of 2026 reflect encouraging progress in the expansion of our core brands. Total net revenues from our Skincare Brands delivered robust growth, while the combined net revenues of our three major premium and clinical skincare brands, Galénic, DR.WU and Eve Lom, grew by 61.4% year over year. Our gross margin continued its year-over-year expansion and reached 80.2%. This underlying strength underscores the structural health of our business model. While we selectively deployed resources to scale and strengthen our core brands, our commitment to long-term profitability optimization remains unwavering. Moving forward, we are focused on cost optimization to ensure that our top-line expansion efficiently translates into future margin improvement."

First Quarter 2026 Financial Results

Net Revenues

Total net revenues for the first quarter of 2026 increased by 22.5% to RMB1.02 billion (US$148.0 million) from RMB833.5 million for the prior year period. The increase was primarily due to a 58.5% year-over-year increase in net revenues from Skincare Brands, partially offset by a 5.0% year-over-year decrease in net revenues from Color Cosmetics Brands.[3]

Gross Profit and Gross Margin

Gross profit for the first quarter of 2026 increased by 24.3% to RMB819.2 million (US$118.8 million) from RMB659.1 million for the prior year period. Gross margin for the first quarter of 2026 increased to 80.2% from 79.1% for the prior year period.

Operating Expenses

Total operating expenses for the first quarter of 2026 increased by 32.5% to RMB918.1 million (US$133.1 million) from RMB693.2 million for the prior year period. As a percentage of total net revenues, total operating expenses for the first quarter of 2026 were 89.9%, as compared with 83.2% for the prior year period.

Fulfillment Expenses. Fulfillment expenses for the first quarter of 2026 were RMB61.1 million (US$8.9 million), as compared with RMB51.8 million for the prior year period. As a percentage of total net revenues, fulfillment expenses for the first quarter of 2026 decreased to 6.0% from 6.2% for the prior year period. The decrease was primarily due to further improvements in logistics efficiency. Selling and Marketing Expenses. Selling and marketing expenses for the first quarter of 2026 were RMB737.2 million (US$106.9 million), as compared with RMB553.8 million for the prior year period. As a percentage of total net revenues, selling and marketing expenses for the first quarter of 2026 increased to 72.2% from 66.4% for the prior year period. The increase was primarily driven by investments in broadening consumer awareness and building long-term brand equity of our core brands, coupled with higher traffic acquisition costs on the Douyin platform. General and Administrative Expenses. General and administrative expenses for the first quarter of 2026 were RMB80.3 million (US$11.6 million), as compared with RMB64.9 million for the prior year period. As a percentage of total net revenues, general and administrative expenses for the first quarter of 2026 were 7.9% as compared with 7.8% for the prior year period, remaining largely flat. Research and Development Expenses. Research and development expenses for the first quarter of 2026 were RMB39.4 million (US$5.7 million), as compared with RMB22.6 million for the prior year period. As a percentage of total net revenues, research and development expenses for the first quarter of 2026 increased to 3.9% from 2.7% for the prior year period. The increase was primarily driven by higher payroll expenses resulting from a rise in research and development headcount. Loss / Income from Operations

Loss from operations for the first quarter of 2026 was RMB99.0 million (US$14.3 million), as compared with RMB34.1 million for the prior year period. Operating loss margin was 9.7%, as compared with 4.1% for the prior year period.

Non-GAAP loss from operations[4] for the first quarter of 2026 was RMB84.6 million (US$12.3 million), as compared with RMB14.9 million for the prior year period. Non-GAAP operating loss margin[5] was 8.3%, as compared with 1.8% for the prior year period.

Net Loss / Income

Net loss for the first quarter of 2026 was RMB61.9 million (US$9.0 million), as compared with RMB5.6 million for the prior year period. Net loss margin was 6.1%, as compared with 0.7% for the prior year period. Net loss attributable to Yatsen's ordinary shareholders per diluted ADS[6] for the first quarter of 2026 was RMB0.64 (US$0.09), as compared with RMB0.06 for the prior year period.

Non-GAAP net loss for the first quarter of 2026 was RMB57.3 million (US$8.3 million), as compared with non-GAAP net income of RMB7.1 million for the prior year period. Non-GAAP net loss margin was 5.6%, as compared with non-GAAP net income margin of 0.9% for the prior year period. Non-GAAP net loss attributable to Yatsen's ordinary shareholders per diluted ADS[7] for the first quarter of 2026 was RMB0.60 (US$0.09), as compared with non-GAAP net income attributable to Yatsen's ordinary shareholders per diluted ADS of RMB0.07 for the prior year period.

Balance Sheet and Cash Flow

As of March 31, 2026, the Company had cash, restricted cash and short-term investments of RMB934.2 million (US$135.4 million), as compared with RMB1.05 billion as of December 31, 2025.

Net cash used in operating activities for the first quarter of 2026 was RMB90.0 million (US$13.0 million), as compared with net cash generated from operating activities of RMB23.8 million for the prior year period.

Business Outlook

For the second quarter of 2026, the Company expects its total net revenues to be between RMB1.20 billion and RMB1.30 billion, representing a year-over-year increase of approximately 10% to 20%. These forecasts reflect the Company's current and preliminary views on the market and operational conditions, which are subject to change.

Exchange Rate

This announcement contains translations of certain Renminbi ("RMB") amounts into U.S. dollars ("US$") at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to US$ were made at a rate of RMB6.8980 to US$1.00, the exchange rate in effect as of March 31, 2026, as set forth in the H.10 statistical release of The Board of Governors of the Federal Reserve System. The Company makes no representation that any RMB or US$ amounts could have been, or could be, converted into US$ or RMB, as the case may be, at any particular rate, or at all.

[1] Include net revenues from Galénic, DR.WU (its mainland China business), Eve Lom and other skincare brands of the Company.

[2] Non-GAAP net income (loss) is a non-GAAP financial measure. Non-GAAP net income (loss) is defined as net income (loss) excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from assets and business acquisitions, (iii) revaluation of investments on the share of equity method investments, (iv) impairment of goodwill, (v) impairment of investments and (vi) tax effects on non-GAAP adjustments.

[3] Include Perfect Diary, Little Ondine, Pink Bear and other color cosmetics brands of the Company.

[4] Non-GAAP income (loss) from operations is a non-GAAP financial measure. Non-GAAP income (loss) from operations is defined as income (loss) from operations excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from assets and business acquisitions and (iii) impairment of goodwill.

[5] Non-GAAP operating income (loss) margin is a non-GAAP financial measure, which is defined as non-GAAP net income (loss) from operations as a percentage of total net revenues.

[6] ADS refers to American depositary shares, each of which represents twenty Class A ordinary shares.

[7] Non-GAAP net income (loss) attributable to ordinary shareholders per diluted ADS is a non-GAAP financial measure. Non-GAAP net income (loss) attributable to ordinary shareholders per diluted ADS is defined as non-GAAP net income (loss) attributable to ordinary shareholders divided by the weighted average number of diluted ADS outstanding for computing diluted earnings per ADS. Non-GAAP net income (loss) attributable to ordinary shareholders is defined as net income (loss) attributable to ordinary shareholders excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from assets and business acquisitions, (iii) revaluation of investments on the share of equity method investments, (iv) impairment of goodwill, (v) impairment of investments, (vi) tax effects on non-GAAP adjustments and (vii) accretion to redeemable non-controlling interests.

Conference Call Information

The Company's management will hold a conference call on Tuesday, May 26, 2026, at 7:30 A.M. U.S. Eastern Time or 7:30 P.M. Beijing Time to discuss its financial results and operating performance for the first quarter of 2026.

United States (toll free):

+1-888-346-8982

International:

+1-412-902-4272

Mainland China (toll free):

400-120-1203

Hong Kong, SAR (toll free):

800-905-945

Hong Kong, SAR:

+852-3018-4992

The replay will be accessible through Tuesday, June 2, by dialing the following numbers:

United States:

+1-855-669-9658

International:

+1-412-317-0088

Replay Access Code:

4359154

A live and archived webcast of the conference call will also be available on the Company's investor relations website at http://ir.yatsenglobal.com.

About Yatsen Holding Limited

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 Perfect Diary, Little Ondine, Pink Bear, Galénic, DR.WU (its mainland China business), and Eve Lom. Our brands are strategically positioned to capture a wide spectrum of consumer demographics and price points, ranging from the mass market to the prestige and clinical segments. Yatsen thrives on the synergy of brand equity, product strength and operational agility, anchored by a strong commitment to R&D and consumer insights.

For more information, please visit http://ir.yatsenglobal.com.

Use of Non-GAAP Financial Measures

The Company uses non-GAAP income (loss) from operations, non-GAAP operating income (loss) margin, non-GAAP net income (loss), non-GAAP net income (loss) margin, non-GAAP net income (loss) attributable to ordinary shareholders and non-GAAP net income (loss) attributable to ordinary shareholders per diluted ADS, each a non-GAAP financial measure, in reviewing and assessing its operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company presents these non-GAAP financial measures because they are used by the management to evaluate operating performance and formulate business plans. Non-GAAP financial measures help identify underlying trends in its business, provide further information about its results of operations, and enhance the overall understanding of its past performance and future prospects. The Company defines non-GAAP income (loss) from operations as income (loss) from operations excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from assets and business acquisitions and (iii) impairment of goodwill. Non-GAAP operating income (loss) margin is non-GAAP income (loss) from operations as a percentage of total net revenues. The Company defines non-GAAP net income (loss) as net income (loss) excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from assets and business acquisitions, (iii) revaluation of investments on the share of equity method investments, (iv) impairment of goodwill, (v) impairment of investments and (vi) tax effects on non-GAAP adjustments. Non-GAAP net income (loss) margin is non-GAAP net income (loss) as a percentage of total net revenues. The Company defines non-GAAP net income (loss) attributable to ordinary shareholders as net income (loss) attributable to ordinary shareholders excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from assets and business acquisitions, (iii) revaluation of investments on the share of equity method investments, (iv) impairment of goodwill, (v) impairment of investments, (vi) tax effects on non-GAAP adjustments and (vii) accretion to redeemable non-controlling interests. Non-GAAP net income (loss) attributable to ordinary shareholders per diluted ADS is computed using non-GAAP net income (loss) attributable to ordinary shareholders divided by weighted average number of diluted ADS outstanding for computing diluted earnings per ADS.

However, the non-GAAP financial measures have limitations as analytical tools as the non-GAAP financial measures are not presented in accordance with U.S. GAAP and may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited. The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating performance. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure. Reconciliations of Yatsen's non-GAAP financial measures to the most comparable U.S. GAAP measure are included at the end of this press release.

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, 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.

For investor and media inquiries, please contact:

Yatsen Holding Limited
Investor Relations
E-mail: [email protected]

YATSEN HOLDING LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands, except for share, per share data or otherwise noted)

December 31,

March 31,

March 31,

2025

2026

2026

RMB'000

RMB'000

USD'000

Assets

Current assets

Cash and cash equivalents

765,379

876,144

127,014

Restricted Cash

42,117

58,036

8,413

Short-term investments

246,008

-

-

Accounts receivable, net

220,870

183,701

26,631

Inventories, net

508,730

573,339

83,117

Prepayments and other current assets

450,970

440,103

63,802

Amounts due from related parties

114

53

8

Total current assets

2,234,188

2,131,376

308,985

Non-current assets

Investments

653,560

667,995

96,839

Property and equipment, net

77,014

71,982

10,435

Goodwill, net

155,029

155,029

22,474

Intangible assets, net

537,509

509,249

73,826

Deferred tax assets

1,435

1,040

151

Right-of-use assets, net

173,915

158,718

23,009

Other non-current assets

14,332

22,151

3,211

Total non-current assets

1,612,794

1,586,164

229,945

Total assets

3,846,982

3,717,540

538,930

Liabilities, redeemable non-controlling interests and shareholders'
equity

Current liabilities

Accounts and notes payable

149,371

154,805

22,442

Advances from customers

28,821

29,480

4,274

Accrued expenses and other liabilities

348,700

322,994

46,824

Amounts due to related parties

21,262

19,412

2,814

Income tax payables

13,690

13,778

1,997

Lease liabilities due within one year

53,435

53,039

7,689

Total current liabilities

615,279

593,508

86,040

Non-current liabilities

Deferred tax liabilities

107,906

106,052

15,374

Lease liabilities

123,157

110,184

15,973

Total non-current liabilities

231,063

216,236

31,347

Total liabilities

846,342

809,744

117,387

Redeemable non-controlling interests

1,337

1,337

194

Shareholders' equity

Ordinary Shares (US$0.00001 par value; 10,000,000,000 ordinary
shares authorized, comprising of 6,000,000,000 Class A ordinary
shares, 960,852,606 Class B ordinary shares and 3,039,147,394
shares each of such classes to be designated as of December 31,
2025 and March 31, 2026; 2,096,600,883 Class A shares and
600,572,880 Class B ordinary shares issued as of December 31,
2025 and March 31, 2026; 1,276,663,163 Class A ordinary shares
and 600,572,880 Class B ordinary shares outstanding as of
December 31, 2025, 1,275,536,483 Class A ordinary shares and
600,572,880 Class B ordinary shares outstanding as of March 31,
2026)

173

173

25

Treasury shares

(1,250,678)

(1,253,378)

(181,702)

Additional paid-in capital

12,296,367

12,297,001

1,782,691

Statutory reserve

31,527

31,527

4,570

Accumulated deficit

(8,141,545)

(8,202,059)

(1,189,049)

Accumulated other comprehensive income

74,760

45,910

6,657

Total Yatsen Holding Limited shareholders' equity

3,010,604

2,919,174

423,192

Non-controlling interests

(11,301)

(12,715)

(1,843)

Total shareholders' equity

2,999,303

2,906,459

421,349

Total liabilities, redeemable non-controlling interests and
shareholders' equity

3,846,982

3,717,540

538,930

YATSEN HOLDING LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(All amounts in thousands, except for share, per share data or otherwise noted)

For the Three Months Ended March 31,

2025

2026

2026

RMB'000

RMB'000

USD'000

Total net revenues

833,533

1,020,986

148,012

Total cost of revenues

(174,406)

(201,797)

(29,254)

Gross profit

659,127

819,189

118,758

Operating expenses:

Fulfilment expenses

(51,843)

(61,138)

(8,863)

Selling and marketing expenses

(553,815)

(737,236)

(106,877)

General and administrative expenses

(64,883)

(80,326)

(11,645)

Research and development expenses

(22,637)

(39,440)

(5,718)

Total operating expenses

(693,178)

(918,140)

(133,103)

Loss from operations

(34,051)

(98,951)

(14,345)

Financial income

10,606

10,741

1,557

Foreign currency exchange gain (loss)

10,664

(3,198)

(464)

Income from equity method investments, net

2,505

12,389

1,796

Other income, net

4,242

18,466

2,677

Loss before income tax expenses

(6,034)

(60,553)

(8,779)

Income tax benefits (expenses)

433

(1,375)

(199)

Net loss

(5,601)

(61,928)

(8,978)

Net loss attributable to non-controlling interests and redeemable non-
controlling interests

298

1,414

205

Net loss attributable to Yatsen's shareholders

(5,303)

(60,514)

(8,773)

Shares used in calculating loss per share (1):

Weighted average number of Class A and Class B ordinary shares:

    Basic

1,837,466,068

1,876,901,662

1,876,901,662

    Diluted

1,837,466,068

1,876,901,662

1,876,901,662

Net loss per Class A and Class B ordinary share

    Basic

(0.00)

(0.03)

(0.00)

    Diluted

(0.00)

(0.03)

(0.00)

Net loss per ADS (20 ordinary shares equal to 1 ADS) (2)

    Basic

(0.06)

(0.64)

(0.09)

    Diluted

(0.06)

(0.64)

(0.09)

For the Three Months Ended March 31,

2025

2026

2026

Share-based compensation expenses are included in the
operating expenses as follows:

RMB'000

RMB'000

USD'000

Fulfilment expenses

98

249

36

Selling and marketing expenses

757

148

21

General and administrative expenses

7,731

2,003

290

Research and development expenses

40

1,159

168

Total

8,626

3,559

515

(1)  Authorized share capital is re-classified and re-designated into Class A ordinary shares and Class B ordinary shares, with each
Class A ordinary share being entitled to one vote and each Class B ordinary share being entitled to twenty votes on all matters that
are subject to shareholder vote.

YATSEN HOLDING LIMITED

UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands, except for share, per share data or otherwise noted)

For the Three Months Ended March 31,

2025

2026

2026

RMB'000

RMB'000

USD'000

Loss from operations

(34,051)

(98,951)

(14,345)

Share-based compensation expenses

8,626

3,559

515

Amortization of intangible assets resulting from assets and business
acquisitions

10,561

10,759

1,560

Non-GAAP loss from operations

(14,864)

(84,633)

(12,270)

Net loss

(5,601)

(61,928)

(8,978)

Share-based compensation expenses

8,626

3,559

515

Amortization of intangible assets resulting from assets and business
acquisitions

10,561

10,759

1,560

Revaluation of investments on the share of equity method
investments

(6,010)

(10,469)

(1,518)

Tax effects on non-GAAP adjustments

(433)

829

120

Non-GAAP net income (loss)

7,143

(57,250)

(8,301)

Net loss attributable to Yatsen's shareholders

(5,303)

(60,514)

(8,773)

Share-based compensation expenses

8,626

3,559

515

Amortization of intangible assets resulting from assets and business
acquisitions

10,179

10,473

1,518

Revaluation of investments on the share of equity method
investments

(6,010)

(10,469)

(1,518)

Tax effects on non-GAAP adjustments

(405)

829

120

Non-GAAP net income (loss) attributable to Yatsen's
shareholders

7,087

(56,122)

(8,138)

Shares used in calculating loss per share:

Weighted average number of Class A and Class B ordinary shares:

    Basic

1,837,466,068

1,876,901,662

1,876,901,662

    Diluted

1,953,491,427

1,876,901,662

1,876,901,662

Non-GAAP net income (loss) attributable to ordinary
shareholders per Class A and Class B ordinary share

    Basic

0.00

(0.03)

(0.00)

    Diluted

0.00

(0.03)

(0.00)

Non-GAAP net income (loss) attributable to ordinary
shareholders per ADS (20 ordinary shares equal to 1 ADS) (1)

    Basic

0.08

(0.60)

(0.09)

    Diluted

0.07

(0.60)

(0.09)

SOURCE Yatsen Holding Limited

Yatsen Holding Limited (YSG) Q1 2026 Earnings Call Transcript

April 28, 2026 09:29 ET  | Source: JOYY Inc.

SINGAPORE, April 28, 2026 (GLOBE NEWSWIRE) -- JOYY Inc. (NASDAQ: JOYY) (“JOYY” or the “Company”), a global technology company, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2025, with the Securities and Exchange Commission on April 28, 2026, Eastern Time. The annual report can be accessed on the Company’s investor relations website at http://ir.joyy.com.

The Company will provide a hard copy of its annual report containing the audited consolidated financial statements, free of charge, to its shareholders and ADS holders upon request. Requests should be directed to the Company’s Investor Relations Department at [email protected].

About JOYY Inc.

JOYY (NASDAQ: JOYY) is a leading global technology company with a mission to enrich lives through technology. With a diversified product portfolio spanning live streaming, short-form videos, instant messaging, and emerging initiatives such as advertising and smart commerce SaaS, JOYY has transformed into a dynamic ecosystem powered by AI and data intelligence. Headquartered in Singapore and operating across the globe, JOYY empowers creators, merchants and enterprises worldwide. JOYY’s ADSs have been listed on the NASDAQ since November 2012.

Investor Relations Contact

JOYY Inc.
Investor Relations
Email: [email protected]

SINGAPORE, May 26, 2026 (GLOBE NEWSWIRE) -- JOYY Inc. (NASDAQ: JOYY) (“JOYY” or the “Company”), a global technology company, today announced its unaudited financial results for the first quarter of 2026.

First Quarter 2026 Financial Highlights1

Net revenues were US$555.7 million, an increase of 12.4% from US$494.4 million in the corresponding period of 2025, compared with US$581.9 million in the fourth quarter of 2025. Social Entertainment net revenues increased by 3.2% to US$400.4 million from US$387.8 million in the corresponding period of 2025, compared with US$419.1 million in the fourth quarter of 2025.BIGO Ads net revenues increased by 55.6% to US$124.8 million from US$80.2 million in the corresponding period of 2025, compared with US$128.6 million in the fourth quarter of 2025.Shopline net revenues increased by 16.1% to US$30.5 million from US$26.3 million in the corresponding period of 2025, compared with US$34.3 million in the fourth quarter of 2025.
Operating income was US$6.8 million, compared with US$12.2 million in the corresponding period of 2025 and US$18.3 million in the fourth quarter of 2025.
Non-GAAP EBITDA2 was US$45.7 million, compared with US$40.4 million in the corresponding period of 2025 and US$50.6 million in the fourth quarter of 2025.
Net income from continuing operations attributable to controlling interest of JOYY3 was US$50.7 million, compared with US$45.4 million in the corresponding period of 2025 and US$54.3 million in the fourth quarter of 2025.
Non-GAAP net income from continuing operations attributable to controlling interest and common shareholders of JOYY4 was US$55.9 million, compared with US$63.2 million in the corresponding period of 2025 and US$70.3 million in the fourth quarter of 2025.
Net Cash5 as of March 31, 2026 was US$3,175.1 million.
Net Cash from operating activities was US$46.0 million, compared with US$58.0 million in the corresponding period of 2025.

First Quarter 2026 Business Highlights

Global community：

Global average mobile MAUs6 reached 276.3 million in the first quarter of 2026, up by 6.1% from 260.4 million in the corresponding period of 2025 and up by 1.5% from 272.1 million in the fourth quarter of 2025. The Company continued to optimize its marketing strategies to focus on return on investment (ROI) and high-value users. Social Entertainment ：

In the first quarter, Social Entertainment revenues increased by 3.2% year over year to US$400.4 million, with live streaming revenues reaching US$380.3 million, returning to year over year growth with a 2.4% increase from the corresponding period of 2025, representing an important inflection point in the recovery of the Company’s core business. By region, live streaming revenues in developed markets grew 11.2% year over year, reflecting strong performance in key geographies.Core live streaming paying users 7 rose by 5.9% year over year to 1.54 million, while ARPPU8 reached US$214.1.The Company continued to enhance its content ecosystem through streamer incentive reforms and targeted support programs for high-quality content categories, while deepening AI-powered capabilities across content distribution and payment experiences. These initiatives drove steady improvements in user engagement and monetization. During the first quarter, the number of active streamers increased by 1.5% quarter over quarter, and average effective streaming hours per streamer rose by 1.4% quarter over quarter. AI-powered tools were fully deployed across core regions. User adoption of AI-generated virtual gifts continued to accelerate, with AI-generated interactive virtual gifts accounting for 34% of total virtual gift consumption on Bigo Live in April 2026. Recent Development on B2B Initiatives: Advertising and Smart Commerce

Beginning in 2022, the Company ramped up efforts to diversify its revenue stream, cultivating its new initiatives in advertising technology and smart commerce. The Company has made steady progress advancing towards its strategic positioning as a global tech company powered by multiple growth engines. In the first quarter, total non-live streaming revenues reached US$175.4 million, up by 42.6% year over year, representing 31.6% of total net revenues of the Company, compared with 24.9% in the corresponding period of 2025. BIGO Ads:

BIGO Ads is a global AI-powered programmatic advertising platform. Launched to provide one-stop marketing and monetization solutions, it leverages deep learning, real-time bidding, and smart bidding models (such as oCPC and ROAS optimization) to enable brands to scale user acquisition and app developers to effectively unlock monetization potentials through connecting premium global demand.In the first quarter, BIGO Ads' total revenues grew by 55.6% year over year to US$124.8 million. In particular, BIGO Audience Network, which includes third-party advertising revenues generated on network partners' traffic properties, continued to demonstrate strong momentum, with revenues increasing by 78.8% year over year.BIGO Ads has access to a vast traffic pool, comprising the Company’s own global average mobile MAU base and an extensive network of third-party traffic through seamless integration of developer traffic across major channels. During the quarter, Software Development Kit (SDK) advertising requests grew by 109% year over year and 7% quarter over quarter.BIGO Ads continued to enhance its deep learning and real-time bidding models. By promoting full-funnel data feedback from advertisers and capitalizing on the dual growth in traffic scale and advertiser density, BIGO Ads built a richer multi-dimensional user profile database. This enabled more precise real-time user understanding, improved ad distribution efficiency, and further strengthened its traffic bidding capabilities through continuous data accumulation and algorithm iteration.Broader traffic coverage, multi-vertical advertiser expansion, and ongoing algorithm optimization fueled accelerated growth. Web-based demand increased 90% year over year. In-app advertising (IAA) spending maintained robust growth of 97% year over year. Regionally, developed markets demonstrated strong momentum, with North America remaining the largest market and Western Europe delivering outstanding growth of 27% quarter over quarter. Shopline:

Shopline serves as a global AI-powered operating system for modern retail. Beyond storefront creation, Shopline offers a deeply integrated suite of merchant services across payments, logistics, marketing, and data analytics. It is an open, extensible omnichannel platform that enables merchants to manage the full commerce value chain from store setup and transactions to fulfillment, customer acquisition, and lifecycle engagement. Shopline has helped merchants in diverse industries across multiple markets to launch and scale their businesses.Shopline currently generates revenues from recurring software subscription fees and a suite of transaction-based value-added services, including localized payment processing (Shopline Payments) and marketing solutions.In the first quarter, Shopline continued its healthy growth trajectory, generating revenue of US$30.5 million, up 16.1% year over year. Gross margin improved to 51.5%. Ms. Ting Li, Chairperson and Chief Executive Officer of JOYY, commented, "We are pleased to report a strong start to 2026. Total revenues for the first quarter reached US$555.7 million, up by 12.4% year over year, our strongest year over year growth rate in recent years. Our social entertainment business returned to year over year growth, while our second growth curve, Ad Tech and Smart Commerce, continued to progress with strong momentum. In light of our solid operational performance and robust balance sheet, we announced an updated shareholder return program, under which we could repurchase up to US$600 million worth of our shares and distribute approximately US$900 million in dividends over the next three years. This underscores our strong confidence in long-term potential of our business and demonstrates our continued commitment to delivering sustainable value to our shareholders.

Social entertainment revenues increased 3.2% year over year, with core live streaming revenues returning to 2.4% year over year growth, which marks an inflection point and a result of the strategic adjustments we’ve executed over the past several quarters. Meanwhile, BIGO Ads revenues surged 55.6% year over year to US$124.8 million, with BIGO Audience Network revenues growing 78.8% year over year. Shopline also continued its healthy growth trajectory, generating revenue of US$30.5 million, up 16.1% year over year.

This quarter marks the first time we are reporting results under our new three-segment structure: Social Entertainment, BIGO Ads, and Shopline. Our globally diversified ecosystem is taking shape, with social entertainment, advertising, and smart commerce reinforcing one another in a powerful strategic flywheel.

With AI serving as the backbone of our entire ecosystem — driving content recommendation, advertising efficiency, and merchant intelligence across all three segments — our business pillars form a closed-loop system that deepens our competitive moat. We are confident this will drive long-term value creation for JOYY and our shareholders."

First Quarter 2026 Financial Results

NET REVENUES

Net revenues were US$555.7 million, representing an increase of 12.4% from US$494.4 million in the corresponding period of 2025, compared with US$581.9 million in the fourth quarter of 2025.

Social Entertainment net revenues were US$400.4 million, up by 3.2% from US$387.8 million in the corresponding period of 2025, compared with US$419.1 million in the fourth quarter of 2025. The year over year increase was primarily driven by growth in live streaming revenues, as expanded content categories and enhanced localized operations contributed to stronger user engagement and spending across key markets.

BIGO Ads net revenues were US$124.8 million, up by 55.6% from US$80.2 million in the corresponding period of 2025, compared with US$128.6 million in the fourth quarter of 2025. The year over year increase was driven by expansion of traffic, elevated advertiser demand across regions and verticals, and enhanced algorithm performance that resulted in improved advertisement delivery efficiency and higher advertiser spending.

Shopline net revenues were US$30.5 million, representing an increase of 16.1% from US$26.3 million in the corresponding period of 2025, compared with US$34.3 million in the fourth quarter of 2025. The year over year growth was mainly due to continued merchant adoption and deeper penetration of value-added services.

COST OF REVENUES AND GROSS PROFIT

Cost of revenues was US$366.4 million in the first quarter of 2026, compared with US$315.7 million in the corresponding period of 2025 and US$376.3 million in the fourth quarter of 2025.

Social Entertainment’s cost of revenues increased by 3.4% year over year to US$256.0 million and decreased by 1.6% from US$260.2 million in the fourth quarter of 2025. The year over year increase was primarily attributable to a US$15.5 million increase in revenue-sharing fees and content costs.

BIGO Ads’s cost of revenues increased by 78.1% year over year to US$95.6 million and decreased 2.6% from US$98.1 million in the fourth quarter of 2025. The year over year increase was primarily resulting from higher traffic acquisition costs paid to third-party partners in relation to the expansion of BIGO Audience Network.

Shopline’s cost of revenues increased by 1.8% year over year to US$14.8 million, and decreased by 17.4% from the fourth quarter of 2025. The quarter over quarter decrease was primarily due to the seasonal decline in revenue from the fourth quarter, as well as continued improvements in cost efficiency.

Gross profit was US$189.3 million in the first quarter of 2026, compared with US$178.6 million in the corresponding period of 2025 and US$205.6 million in the fourth quarter of 2025. Gross margin was 34.1% in the first quarter of 2026, compared with 36.1% in the corresponding period of 2025 and 35.3% in the fourth quarter of 2025.

OPERATING EXPENSES AND INCOME

Operating expenses were US$183.4 million in the first quarter of 2026, compared with US$167.2 million in the same period of 2025 and US$187.8 million in the fourth quarter of 2025. Among the operating expenses, sales and marketing expenses were US$79.6 million, compared with US$72.1 million in the corresponding period of 2025 and US$81.4 million in the fourth quarter of 2025. Research and development expenses were US$61.2 million, compared with US$62.4 million in the corresponding period of 2025 and US$61.5 million in the fourth quarter of 2025. General and administrative expenses were US$42.6 million, compared with US$32.7 million in the corresponding period of 2025 and US$44.9 million in the fourth quarter of 2025.

Operating income was US$6.8 million, compared with US$12.2 million in the corresponding period of 2025 and US$18.3 million in the fourth quarter of 2025.

Non-GAAP operating income9 was US$38.0 million in the first quarter of 2026, compared with US$31.0 million in the corresponding period of 2025 and US$40.8 million in the fourth quarter of 2025. Non-GAAP operating income margin10 was 6.8% in the first quarter of 2026, compared with 6.3% in the corresponding period of 2025 and 7.0% in the fourth quarter of 2025.

Non-GAAP EBITDA was US$45.7 million, compared with US$40.4 million in the corresponding period of 2025 and US$50.6 million in the fourth quarter of 2025. Non-GAAP EBITDA margin11 was 8.2%, compared with 8.2% in the corresponding period of 2025 and 8.7% in the fourth quarter of 2025.

NET INCOME

Net income from continuing operations attributable to controlling interest of JOYY was US$50.7 million, compared with US$45.4 million in the corresponding period of 2025 and US$54.3 million in the fourth quarter of 2025. Net income margin was 9.1% in the first quarter of 2026, compared with 9.2% in the corresponding period of 2025 and 9.3% in the fourth quarter of 2025.

Non-GAAP net income from continuing operations attributable to controlling interest and common shareholders of JOYY was US$55.9 million, compared with US$63.2 million in the corresponding period of 2025 and US$70.3 million in the fourth quarter of 2025. Non-GAAP net income margin12 was 10.1% in the first quarter of 2026, compared with non-GAAP net income margin of 12.8% in the corresponding period of 2025 and 12.1% in the fourth quarter of 2025.

NET INCOME PER ADS

Diluted net income from continuing operations per ADS13 was US$1.00 in the first quarter of 2026, compared with US$0.84 in the corresponding period of 2025 and US$1.03 in the fourth quarter of 2025.

Non-GAAP diluted net income from continuing operations per ADS14 was US$1.11 in the first quarter of 2026, compared with US$1.18 in the corresponding period of 2025 and US$1.34 in the fourth quarter of 2025.

BALANCE SHEET AND CASH FLOWS

As of March 31, 2026, the Company had net cash of US$3,175.1 million, compared with US$3,258.0 million as of December 31, 2025. For the first quarter of 2026, net cash from operating activities was US$46.0 million.

SHARES OUTSTANDING

As of March 31, 2026, the Company had a total of 1,007.6 million common shares outstanding, representing the equivalent of 50.4 million ADSs assuming the conversion of all common shares into ADSs.

Business Outlook

For the second quarter of 2026, the Company expects net revenues to be between US$562 million and US$581 million. This forecast reflects the Company’s current and preliminary views on the market, operational conditions and business strategies, which are subject to changes, particularly as to the potential impact from macroeconomic uncertainties.

Share Repurchase Programs

On May 22, 2026, the board of directors of the Company authorized a new share repurchase program, or the 2026 Repurchase Program, under which the Company is authorized to repurchase up to US$600 million of its shares (including in the form of ADSs) until the end of 2028. The 2026 Repurchase Program is effective immediately upon approval and replaces a pre-existing share repurchase program, or the 2025 Repurchase Program, under which the Company was authorized to repurchase up to US$300 million of its shares (including in the form of ADSs) until the end of 2027.

Pursuant to the 2025 Repurchase Program, the Company had repurchased approximately 0.8 million ADSs for an aggregate consideration of US$52.9 million on the open market during the first quarter of 2026. Between March 31, 2026 and May 22, 2026, the Company repurchased an additional approximately 0.6 million ADSs, for an aggregate consideration of US$35.0 million.

As of the date of this announcement, the remaining unutilized amount under the 2026 Repurchase Program was approximately US$600 million.

Quarterly Dividend Program and Additional Cash Dividend

On May 22, 2026, the board of directors of the Company authorized a new quarterly dividend program, or the 2026 Dividend Program, under which a total of approximately US$900 million in cash will be distributed on a quarterly basis between 2026 and 2028. The 2026 Dividend Program is effective immediately upon approval and replaces a pre-existing quarterly dividend program, or the 2025 Dividend Program, under which a total of approximately US$600 million in cash would be distributed on a quarterly basis between 2025 and 2027.

Pursuant to the 2026 Dividend Program, the board of directors has accordingly declared a dividend of US$1.50 per ADS, or US$0.075 per common share, for the first quarter of 2026, which is expected to be paid on July 14, 2026 to shareholders of record as of the close of business on June 29, 2026. The ex-dividend date will be June 29, 2026.

Conference Call Information

The Company will hold a conference call at 9:00 PM U.S. Eastern Time Monday, May 25, 2026 (9:00 AM Singapore/Hong Kong Time on Tuesday, May 26, 2026) Details for the conference call are as follows:

Event Title:JOYY Inc. First Quarter 2026 Earnings Conference CallConference ID:#10054918   All participants may use the link provided below to complete the online registration process in advance of the conference call. Upon registration, each participant will receive a set of participant dial-in numbers, the Direct Event passcode, and a unique PIN by email.

PRE-REGISTER LINK: https://s1.c-conf.com/diamondpass/10054918-5w84it.html

A live and archived webcast of the conference call will also be available at the Company's investor relations website at https://ir.joyy.com.

The replay will be accessible through June 2, 2026, by dialing the following numbers:

United States:1-855-883-1031Singapore:
Hong Kong:800-101-3223
800-930-639Conference ID:#10054918   About JOYY Inc.

JOYY (NASDAQ: JOYY) is a leading global technology company, dedicated to building a self-reinforcing ecosystem that integrates social entertainment, programmatic advertising, and omnichannel e-commerce infrastructure, powered by AI and data intelligence. Headquartered in Singapore and operating across the globe, JOYY empowers creators, merchants and enterprises worldwide. JOYY’s ADSs have been listed on the NASDAQ since November 2012.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under 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,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the business outlook and quotations from management in this press release, as well as JOYY’s strategic and operational plans, contain forward-looking statements. JOYY may also make written or oral forward-looking statements in its periodic reports to the U.S. 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 JOYY’s beliefs 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: JOYY’s goals and strategies; JOYY’s future business development, results of operations and financial condition; the expected growth of the global online social entertainment, advertising and smart commerce market; JOYY’s ability to attract and retain users and customers; JOYY’s expectations regarding demand for and market acceptances of its products and services; JOYY’s ability to adopt the latest technology to enhance its operations; fluctuations in global economic and business conditions; and assumptions underlying or related to any of the foregoing. A more detailed and full discussion of those risks and other potential risks is included in JOYY’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and JOYY does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Use of Non-GAAP Financial Measures

The unaudited condensed consolidated financial information is prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). JOYY uses non-GAAP operating (loss) income, non-GAAP operating income (loss) margin, non-GAAP EBITDA, non-GAAP EBITDA margin, non-GAAP net income (loss) from continuing operations attributable to controlling interest and common shareholders of JOYY, non-GAAP net income (loss) margin attributable to controlling interest and common shareholders of JOYY, and basic and diluted non-GAAP net income (loss) from continuing operations per ADS, all of which are non-GAAP financial measures adjusted from the most comparable U.S. GAAP results. Non-GAAP operating income (loss) is operating income (loss) excluding share-based compensation expenses, impairment of goodwill and investments, amortization of intangible assets from business acquisitions, and gain (loss) on deconsolidation and disposal of subsidiaries and business. Non-GAAP operating income (loss) margin is non-GAAP operating income as a percentage of net revenues. Non-GAAP net income (loss) from continuing operations is net income (loss) from continuing operations excluding share-based compensation expenses, impairment of goodwill and investments, amortization of intangible assets from business acquisitions, gain (loss) on deconsolidation and disposal of subsidiaries and business, gain (loss) on disposal and deemed disposal of investments, gain (loss) on fair value change of investments, reconciling items on the share of equity method investments (referring to share of income (loss) from equity method investments resulting from non-recurring or non-cash items of the equity method investments), interest expenses related to the convertible bonds’ amortization to face value, and income tax effects of the above non-GAAP reconciling items. Non-GAAP EBITDA is non-GAAP operating income (loss) added back depreciation and amortization (other than amortization of intangible assets resulting from assets and business acquisitions), and non-GAAP EBITDA margin is non-GAAP EBITDA as a percentage of net revenues. Non-GAAP net income (loss) from continuing operations attributable to controlling interest and common shareholders of JOYY is net income (loss) from continuing operations attributable to controlling interest of JOYY excluding share-based compensation expenses, impairment of goodwill and investments, amortization of intangible assets from business acquisitions, gain (loss) on deconsolidation and disposal of subsidiaries and business, gain (loss) on disposal and deemed disposal of investments, gain (loss) on fair value change of investments, reconciling items on the share of equity method investments, interest expenses related to the convertible bonds’ amortization to face value, income tax effects of the above non-GAAP reconciling items and adjustments for non-GAAP reconciling items for the net income (loss) from continuing operations attributable to non-controlling interest shareholders. Non-GAAP net income (loss) margin is non-GAAP net income (loss) from continuing operations attributable to controlling interest and common shareholders of JOYY as a percentage of net revenues. Non-GAAP net income (loss) from continuing operations attributable to controlling interest and common shareholders of JOYY is net income (loss) from continuing operations attributable to common shareholders of JOYY excluding share-based compensation expenses, impairment of goodwill and investments, amortization of intangible assets from business acquisitions, gain (loss) on deconsolidation and disposal of subsidiaries and business, gain (loss) on disposal and deemed disposal of investments, gain (loss) on fair value change of investments, reconciling items on the share of equity method investments, interest expenses related to the convertible bonds’ amortization to face value, accretion, cumulative dividend and deemed dividend to subsidiaries’ preferred shareholders, gain on repurchase of redeemable convertible preferred shares of a subsidiary and income tax effects of above non-GAAP reconciling items and adjustments for non-GAAP reconciling items for the net income (loss) from continuing operations attributable to non-controlling interest shareholders. Basic and diluted non-GAAP net income (loss) from continuing operations per ADS is non-GAAP net income (loss) from continuing operations attributable to common shareholders of JOYY divided by weighted average number of ADS used in the calculation of basic and diluted net income (loss) per ADS. The Company believes that separate analysis and exclusion of the non-cash impact of above reconciling items adds clarity to the constituent parts of its performance. The Company reviews these non-GAAP financial measures together with GAAP financial measures to obtain a better understanding of its operating performance. It uses the non-GAAP financial measures for planning, forecasting and measuring results against the forecast. The Company believes that non-GAAP financial measures is useful supplemental information for investors and analysts to assess its operating performance without the non-cash effect of (i) share-based compensation expenses, amortization of intangible assets from business acquisitions, and interest expenses related to the convertible bonds’ amortization to face value, which have been and will continue to be significant recurring expenses in its business, (ii) impairment of goodwill and investments, gain (loss) on deconsolidation and disposal of subsidiaries and business, gain (loss) on disposal and deemed disposal of investments, gain (loss) on fair value change of investments, reconciling items on the share of equity method investments, accretion, cumulative dividend and deemed dividend to subsidiaries’ preferred shareholders and gain on repurchase of redeemable convertible preferred shares of a subsidiary which may not be recurring in its business, and (iii) income tax expenses and non-GAAP adjustments for net income (loss) from continuing operations attributable to non-controlling interest shareholders, which are affected by the above non-GAAP reconciling items. However, the use of non-GAAP financial measures has material limitations as an analytical tool. One of the limitations of using non-GAAP financial measures is that they do not include all items that impact the Company’s net income (loss) for the period. In addition, because non-GAAP financial measures are not measured in the same manner by all companies, they may not be comparable to other similar titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measures in isolation from or as an alternative to the financial measures prepared in accordance with U.S. GAAP.

The presentation of these non-GAAP financial measures is not intended to be considered in isolation from, or as a substitute for, the financial information prepared and presented in accordance with U.S. GAAP. For more information on these non-GAAP financial measures, please see the table captioned “JOYY Inc. Unaudited Reconciliation of GAAP and Non-GAAP Results” near the end of this press release.

Investor Relations Contact

JOYY Inc.
Investor Relations
Email: [email protected]

1 The financial information and non-GAAP financial information disclosed in this press release is presented on a continuing operations basis, unless otherwise specifically stated. Starting from the first quarter of 2026, the Company reports three segments, Social Entertainment, BIGO Ads and Shopline, to reflect changes made to the reporting structure whose financial information is reviewed by the chief operating decision makers of the Company under its evolving operating strategies. Social Entertainment mainly includes live streaming services on our social entertainment platforms including but not limited to Bigo Live, Likee, imo, and others. BIGO Ads mainly engages in advertising services on the Company's own properties (specifically Likee and imo) and third-party network partners’ properties. Shopline mainly engages in providing omnichannel smart commerce solutions for merchants. Prior period segment information has been recast to conform to the current period's presentation.

2 Non-GAAP EBITDA is a non-GAAP financial measure, which is defined as non-GAAP operating income (loss) added back depreciation and amortization (other than amortization of intangible assets resulting from assets and business acquisitions). Please refer to the section titled “Use of Non-GAAP Financial Measures” and the table captioned “JOYY Inc. Unaudited Reconciliation of GAAP and Non-GAAP Results” near the end of this press release for details.

3 Net income (loss) from continuing operations attributable to controlling interest of JOYY is net income (loss) from continuing operations less net (loss) income from continuing operations attributable to the non-controlling interest shareholders and the mezzanine equity classified non-controlling interest shareholders.

4 Non-GAAP net income (loss) from continuing operations attributable to controlling interest and common shareholders of JOYY is a non-GAAP financial measure, which is defined as net income (loss) from continuing operations attributable to common shareholders of JOYY excluding share-based compensation expenses, impairment of goodwill and investments, amortization of intangible assets from business acquisitions, gain (loss) on deconsolidation and disposal of subsidiaries and business, gain (loss) on disposal and deemed disposal of investments, gain (loss) on fair value change of investments, reconciling items on the share of equity method investments which refer to those similar non-GAAP reconciling items of the Company, interest expenses related to the convertible bonds amortization to face value, accretion, cumulative dividend and deemed dividend to subsidiaries’ preferred shareholders, income tax effects of the above non-GAAP reconciling items and adjustments for non-GAAP reconciling items for net (loss) income attributable to non-controlling interest shareholders. Please refer to the section titled “Use of Non-GAAP Financial Measures” and the table captioned “JOYY Inc. Unaudited Reconciliation of GAAP and Non-GAAP Results” near the end of this press release for details.

5 Net cash is calculated as the sum of cash and cash equivalents, restricted cash and cash equivalents, short-term deposits, restricted short-term deposits, short-term investments, long-term deposits and held-to-maturity investments, less short-term and long-term loans.

6 Refers to average mobile monthly active users of the social entertainment platforms operated by the Company, including Bigo Live, Likee, imo and Hago. Average mobile MAU for any period is calculated by dividing (i) the sum of the Company’s active mobile users for each month of such period, by (ii) the number of months in such period.

7 Core live streaming paying users during a given period is calculated as the cumulative number of registered user accounts that have purchased virtual items or other products and services on Bigo Live, Likee or imo at least once during the relevant period.

8 Average revenue per user is calculated by dividing the Company’s total revenues from live streaming on Bigo Live, Likee and imo during a given period by the number of paying users for the Company’s live streaming services on these platforms for that period.

9 Non-GAAP operating income (loss) is a non-GAAP financial measure, which is defined as operating income (loss) excluding share-based compensation expenses, amortization of intangible assets from business acquisitions, impairment of goodwill and investments and gain (loss) on deconsolidation and disposal of subsidiaries and business. Please refer to the section titled “Use of Non-GAAP Financial Measures” and the table captioned “JOYY Inc. Unaudited Reconciliation of GAAP and Non-GAAP Results” near the end of this press release for details.

10 Non-GAAP operating income (loss) margin is a non-GAAP financial measure, which is defined as non-GAAP operating income (loss) as a percentage of net revenues. Please refer to the section titled “Use of Non-GAAP Financial Measures” and the table captioned “JOYY Inc. Unaudited Reconciliation of GAAP and Non-GAAP Results” near the end of this press release for details.

11 Non-GAAP EBITDA margin is a non-GAAP financial measure, which is defined as non-GAAP EBITDA as a percentage of net revenues. Please refer to the section titled “Use of Non-GAAP Financial Measures” and the table captioned “JOYY Inc. Unaudited Reconciliation of GAAP and Non-GAAP Results” near the end of this press release for details.

12 Non-GAAP net income (loss) margin is non-GAAP net income from continuing operations attributable to controlling interest and common shareholders of JOYY as a percentage of net revenues.

13 ADS refers to American Depositary Share. Each ADS represents twenty Class A common shares of the Company. Diluted net income (loss) per ADS is net income (loss) attributable to common shareholders of JOYY divided by weighted average number of diluted ADS.

14 Non-GAAP diluted net income (loss) from continuing operations per ADS is a non-GAAP financial measure, which is defined as non-GAAP net income (loss) from continuing operations attributable to common shareholders of JOYY divided by weighted average number of ADS used in the calculation of diluted net income (loss) per ADS. Please refer to the section titled “Use of Non-GAAP Financial Measures” and the table captioned “JOYY Inc. Unaudited Reconciliation of GAAP and Non-GAAP Results” near the end of this press release for details.

JOYY INC.UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS(All amounts in thousands, except share, ADS and per ADS data)       December 31, March 31,  2025 2026  US$ US$Assets   Current assets    Cash and cash equivalents374,248 309,167 Restricted cash and cash equivalents21,593 21,107 Short-term deposits192,535 154,460 Restricted short-term deposits7,182 4,386 Short-term investments613,702 657,238 Accounts receivable, net154,439 161,363 Amounts due from related parties106 190 Prepayments and other current assets255,566 290,375     Total current assets1,619,371 1,598,286     Non-current assets    Long-term deposits and held-to-maturity investments2,059,386 2,052,055 Deferred tax assets9,782 10,920 Investments551,802 589,087 Property and equipment, net565,124 587,978 Land use rights, net301,390 303,951 Intangible assets, net221,963 208,236 Right-of-use assets, net21,241 28,124 Goodwill2,194,358 2,194,382 Other non-current assets8,071 6,104     Total non-current assets5,933,117 5,980,837     Total assets7,552,488 7,579,123          Liabilities, mezzanine equity and shareholders’ equity   Current liabilities    Short-term loans10,672 23,299 Accounts payable71,551 68,201 Deferred revenue61,713 59,258 Advances from customers5,408 6,293 Income taxes payable64,533 69,101 Accrued liabilities and other current liabilities626,678 636,855 Amounts due to related parties24,472 33,253 Lease liabilities due within one year8,939 10,658     Total current liabilities873,966 906,918     Non-current liabilities    Lease liabilities12,029 17,478 Deferred revenue9,522 9,136 Deferred tax liabilities54,941 61,304 Other non-current liabilities- 392     Total non-current liabilities76,492 88,310     Total liabilities950,458 995,228      JOYY INC.UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)(All amounts in thousands, except share, ADS and per ADS data)       December 31, March 31,  2025
 2026
  US$ US$     Mezzanine equity25,333  25,733      Shareholders’ equity    Class A common shares (US$0.00001 par value; 10,000,000,000 and 10,000,000,000 shares authorized, 1,306,734,444 shares issued and 673,183,174 shares outstanding as of December 31, 2025; 1,206,734,444 shares issued and 681,126,029 shares outstanding as of March 31, 2026, respectively)7  7  Class B common shares (US$0.00001 par value; 1,000,000,000 and 1,000,000,000 shares authorized, 326,509,555 and 326,509,555 shares issued and outstanding as of December 31, 2025 and March 31, 2026, respectively)3  3  Treasury shares (US$0.00001 par value; 633,551,270 and 525,608,415 shares held as of December 31, 2025 and March 31, 2026, respectively)(1,302,098) (1,095,211) Additional paid-in capital3,315,070  3,072,485  Statutory reserves37,869  37,869  Retained earnings4,699,089  4,680,560  Accumulated other comprehensive loss(208,093) (168,409)     Total JOYY Inc.’s shareholders’ equity6,541,847  6,527,304      Non-controlling interests34,850  30,858      Total shareholders’ equity6,576,697  6,558,162      Total liabilities, mezzanine equity and shareholders’ equity7,552,488  7,579,123       JOYY INC.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(All amounts in thousands, except share, ADS and per ADS data)       Three Months Ended March 31, December 31, March 31, 2025
 2025
 2026
 US$ US$ US$Net revenues(1)     Live streaming371,348  394,436  380,265 Advertising88,647  145,430  137,204 Others34,356  42,050  38,231       Total net revenues494,351  581,916  555,700       Cost of revenues(2)(315,736) (376,275) (366,403)      Gross profit178,615  205,641  189,297       Operating expenses(2)     Research and development expenses(62,426) (61,538) (61,187)Sales and marketing expenses(72,131) (81,415) (79,649)General and administrative expenses(32,690) (44,867) (42,572)      Total operating expenses(167,247) (187,820) (183,408)      Loss on deconsolidation and disposal of subsidiaries-
  -
  (245)Other income839  444  1,189       Operating income12,207  18,265  6,833       Interest expenses(106) (162) (38)Interest income and investment income39,387  40,873  39,765 Foreign currency exchange losses, net(761) (8,171) (13,555)Gain (loss) on fair value change of investments705  (10,120) (7,958)      Income before income tax expenses51,432  40,685  25,047       Income tax expenses(5,211) (1,368) (4,834)      Income before share of (loss) income in equity method investments, net of income taxes46,221  39,317  20,213       Share of (loss) income in equity method investments, net of income taxes(3,318) 11,868  27,953       Net income from continuing operations42,903  51,185  48,166       Gain on disposal of YY Live(3)1,875,921  -
  -
       Net income1,918,824  51,185  48,166       Net loss attributable to the non-controlling interest shareholders and the mezzanine equity classified non-controlling interest shareholders2,499  3,142  2,501       Net income attributable to controlling interest of JOYY Inc.1,921,323  54,327  50,667       Including：     Net income from continuing operations attributable to controlling interest of JOYY Inc.
45,402  54,327  50,667 Gain on disposal of YY Live(3)1,875,921  -
  -
       Accretion of subsidiaries’ redeemable convertible preferred shares to redemption value(347) (346) (346)      Net income attributable to common shareholders of JOYY Inc.1,920,976  53,981  50,321       Including：     Net income from continuing operations attributable to common shareholders of JOYY Inc.45,055  53,981  50,321 Gain on disposal of YY Live(3)1,875,921  -
  -
        JOYY INC.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (CONTINUED)(All amounts in thousands, except share, ADS and per ADS data)       Three Months Ended March 31, December 31, March 31, 2025 2025 2026 US$ US$ US$      Net income per ADS     —Basic36.09 1.04 1.01Continuing operations0.85 1.04 1.01Discontinued operations35.24 - -—Diluted35.72 1.03 1.00Continuing operations0.84 1.03 1.00Discontinued operations34.88 - -      Weighted average number of ADS used in calculating net income per ADS     —Basic53,237,127 51,794,999 49,767,292—Diluted53,780,111 52,629,562 50,534,120            (1) Net revenues by geographical areas were as follows:       Three Months Ended March 31, December 31, March 31, 2025 2025 2026 US$ US$ US$      Developed countries and regions277,615 356,624 343,244Middle East66,651 58,899 58,760Mainland China48,385 59,817 52,063Southeast Asia and others101,700 106,576 101,633      Note: Developed countries and region mainly included the United States of America, Singapore, Japan, South Korea and Great Britain. Middle East mainly included Saudi Arabia and other countries located in the region. Southeast Asia and others mainly included Indonesia, Vietnam and rest of the world.      (2) Share-based compensation was allocated in cost of revenues and operating expenses as follows:       Three Months Ended March 31, December 31, March 31, 2025 2025 2026 US$ US$ US$      Cost of revenues635 1,199 802Research and development expenses2,138 3,231 1,480Sales and marketing expenses229 573 422General and administrative expenses2,235 4,035 14,633      (3) Gain from disposal of YY Live amounted to approximately US$ 1.9 billion, which was reported as part of the net income from discontinued operations in the first quarter of 2025.       JOYY INC.UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS(All amounts in thousands, except share, ADS and per ADS data)       Three Months Ended March 31, December 31, March 31, 2025
 2025
 2026
 US$ US$ US$      Operating income12,207  18,265  6,833 Share-based compensation expenses5,237  9,038  17,337 Amortization of intangible assets from business acquisitions13,540  13,540  13,540 Loss on deconsolidation and disposal of subsidiaries-
  -
  245 Non-GAAP operating income30,984  40,843  37,955 Depreciation and other amortization9,402  9,774  7,781 Non-GAAP EBITDA40,386  50,617  45,736             Net income from continuing operations42,903  51,185  48,166 Share-based compensation expenses5,237  9,038  17,337 Amortization of intangible assets from business acquisitions13,540  13,540  13,540 Loss on deconsolidation and disposal of subsidiaries-
  -
  245 (Gain) loss on fair value change of investments(705) 10,120  7,958 Income tax effects on non-GAAP adjustments(1,404) (2,550) (3,012)Reconciling items on the share of equity method investments1,887  (13,483) (30,192)Non-GAAP net income from continuing operations61,458  67,850  54,042             Net income from continuing operations attributable to common shareholders of JOYY Inc.45,055  53,981  50,321 Share-based compensation expenses5,237  9,038  17,337 Amortization of intangible assets from business acquisitions13,540  13,540  13,540 Loss on deconsolidation and disposal of subsidiaries-
  -
  245 (Gain) loss on fair value change of investments(705) 10,120  7,958 Accretion, cumulative dividend and deemed dividend to subsidiaries’ preferred shareholders347  346  346 Income tax effects on non-GAAP adjustments(1,404) (2,550) (3,012)Reconciling items on the share of equity method investments1,887  (13,483) (30,192)Non-GAAP adjustments for net loss attributable to the non-controlling interest shareholders(761) (722) (602)Non-GAAP net income from continuing operations attributable to controlling interest and common shareholders of JOYY Inc.63,196  70,270  55,941                   Non-GAAP net income from continuing operations per ADS     —Basic1.19  1.36  1.12 —Diluted1.18  1.34  1.11       Weighted average number of ADS used in calculating Non-GAAP net income from continuing operations per ADS     —Basic53,237,127  51,794,999  49,767,292 —Diluted53,780,111  52,629,562  50,534,120        JOYY INC.UNAUDITED SEGMENT REPORT(All amounts in thousands, except share, ADS and per ADS data)         Three Months Ended  March 31, December 31, March 31,  2025
 2025
 2026
  US$ US$ US$Net revenues:      Social Entertainment 387,813  419,050  400,367 BIGO Ads 80,220  128,611  124,787 Shopline 26,318  34,255  30,546 Total net revenues 494,351  581,916  555,700        Cost of revenues(1):      Social Entertainment (247,494) (260,186) (255,979)BIGO Ads (53,675) (98,149) (95,600)Shopline (14,567) (17,940) (14,824)Total cost of revenues (315,736) (376,275) (366,403)       Gross profit:      Social Entertainment 140,319  158,864  144,388 BIGO Ads 26,545  30,462  29,187 Shopline 11,751  16,315  15,722 Total gross profit 178,615  205,641  189,297        (1)    Share-based compensation allocated to cost of revenues by segment as follows:         Three Months Ended  March 31, December 31, March 31,  2025
 2025
 2026
  US$ US$ US$       Social Entertainment 597  1,149  826 BIGO Ads 1  23  16 Shopline 37  27  (40)Total share-based compensation allocated to cost of revenues 635  1,199  802 

JOYY NASDAQ: YY reported its strongest year-over-year revenue growth in recent years in the first quarter of 2026, as its social entertainment business returned to growth and newer businesses in advertising technology and commerce continued to scale.

The company said total net revenue rose 12.4% year-over-year to $555.7 million. Non-GAAP operating profit increased 22.5% to $38 million, while non-GAAP EBITDA rose 13.2% to $45.7 million. Operating cash flow was $46 million for the quarter, and JOYY ended March with approximately $3.18 billion in net cash.

The quarter was also the first in which JOYY reported results under a new three-segment structure: Social Entertainment, BIGO Ads and Shopline. Management described the shift as reflecting the growing importance of BIGO Ads and Shopline as scalable growth engines alongside the company’s foundational social entertainment business.

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Social entertainment returns to growth Social entertainment revenue was $400.4 million in the first quarter, up 3.2% year-over-year. Live streaming revenue increased 2.4% year-over-year, while core live streaming paying users grew 5.9%.

Jane Xie, JOYY’s senior manager of investor relations, reading prepared remarks on behalf of Chairperson and CEO Ting Li, said the company’s global average mobile monthly active users reached 276 million, up 6.1% from a year earlier and 1.5% sequentially. She said traffic from the company’s instant messenger increased 3.1% quarter-over-quarter, supported by user stickiness and organic growth.

Management attributed the recovery in live streaming to improved streamer incentive structures, support for higher-quality content categories and new AI capabilities. Xie said active streamers increased 1.5% sequentially and average effective streaming hours per streamer rose 1.4%, despite typical seasonal pressure in the first quarter.

The company also highlighted the impact of AI tools on engagement. Xie said AI-generated interactive virtual gifts accounted for 34% of total virtual gift consumption on BIGO LIVE as of April. JOYY’s new product lineup also gained traction, with revenue rising more than 500% year-over-year and 45% quarter-over-quarter.

In response to a question from Jefferies analyst Thomas Chong, Ting Li said, through a translator, that structural enhancements launched since the second half of 2024 had strengthened the live streaming ecosystem. She said the company expects low- to mid-single-digit year-over-year growth in social entertainment revenue in the second quarter and believes social entertainment and live streaming revenue can achieve steady positive growth in 2026.

BIGO Ads continues rapid expansion BIGO Ads generated $124.8 million in first-quarter revenue, up 55.6% year-over-year. The company’s third-party advertising business, BIGO Audience Network, grew 78.8% from a year earlier.

Management said growth was driven by broader traffic coverage, advertiser expansion across multiple verticals and algorithm improvements. SDK traffic rose 109% year-over-year and 7% sequentially. Web-based demand, primarily from lead generation and e-commerce advertisers, increased 90% year-over-year, while IAA spending rose 97%.

JOYY said South America remained the largest market for BIGO Ads, while Western Europe showed momentum with revenue up 27% sequentially.

During the question-and-answer session, Ting Li said BIGO Ads’ better-than-expected performance reflected progress in lead generation, direct-to-consumer e-commerce and IAA, along with upgrades to algorithm capabilities. She said JOYY had completed a framework upgrade to its core predictive model and was seeing improvements in monetization efficiency, advertiser retention and average advertiser spending.

Management reiterated its goal for BIGO Audience Network to reach $1 billion in revenue by 2028. Alex Liu, vice president of finance, said the business remains profitable while the company continues investing in research and development, sales, network infrastructure and computing capacity.

Shopline moves into standalone reporting Shopline revenue was $30.5 million in the first quarter, up 16.1% year-over-year. Gross margin expanded 6.8 percentage points from a year earlier to 51.5%, which Liu attributed to growth in higher-margin subscription revenue and improving margins in value-added services.

Management described Shopline as an “AI-native” omnichannel commerce infrastructure platform, designed to support merchants across store setup, transactions, fulfillment, payments, logistics, marketing and customer retention.

Revenue from cross-border merchants grew 66% year-over-year, and Xie said cross-border merchant revenue continued to grow at more than 60%. The company expects Shopline revenue growth to accelerate to above 25% year-over-year in the second quarter.

Asked by BOCI Research analyst Raphael Chen about Shopline’s profitability path, Ting Li said the business has a differentiated model based on recurring subscription fees and value-added services such as payments and marketing. She said research and development spending, the largest component of Shopline’s operating expenses, has largely stabilized, creating operating leverage as revenue and gross profit grow. Management said Shopline is on a path to reach breakeven by 2028.

New $1.5 billion shareholder return plan JOYY also announced an expanded three-year shareholder return program totaling $1.5 billion for fiscal years 2026 through 2028. The program includes up to $600 million in share repurchases and approximately $900 million in dividends.

Through May 22, the company had repurchased $87.9 million of shares and paid $69 million in dividends since the start of 2026, returning a total of $156.8 million to shareholders.

In response to a question from CICC analyst Xueqing Zhang, Liu said the new plan replaces a previous $900 million program and represents a roughly 67% increase in the company’s shareholder return commitment. He said the updated plan includes $300 million in annual dividends and an annualized buyback authorization of $200 million.

Liu said the decision reflected the growth trajectory of all three segments, JOYY’s net cash position and management’s view that the current share price “materially undervalues” the company’s long-term potential.

Second-quarter and full-year outlook For the second quarter of 2026, JOYY guided for net revenue of $562 million to $581 million, implying year-over-year growth of 10.7% to 14.4%.

By segment, Liu said management expects social entertainment to grow in the low- to mid-single-digit range, BIGO Ads to sustain mid-double-digit growth and Shopline to accelerate to more than 25% growth. For the full year, JOYY expects solid positive group revenue growth, with social entertainment delivering steady growth, BIGO Ads producing strong mid-double-digit growth and Shopline sustaining double-digit growth.

On profitability, Liu said JOYY expects group non-GAAP operating profit and EBITDA to continue the improving trend seen in 2025, with “steady teens” year-over-year growth in 2026. He noted that unrealized foreign-exchange losses weighed on first-quarter net income due to the weakening U.S. dollar against the renminbi and said similar effects are expected in the second quarter.

About JOYY NASDAQ: YYJOYY Inc NASDAQ: YY is a global technology-driven social media company specializing in video-based content creation and real-time social entertainment. The company develops and operates platforms that enable users to broadcast live video, engage with audiences and participate in interactive social communities. Its flagship global products include Bigo Live, a live-streaming application, and Likee, a short-video creation and sharing platform, which collectively support real-time interaction through virtual gifting and in-app social features.

Originally founded in Guangzhou, China in 2005 by David Xueling Li under the name YY Inc, the company pioneered real-time group communication and live streaming services in its domestic market.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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My 'Buy' rating for JOYY Inc. remains intact, following my assessment of its financial and capital return prospects. JOYY's 1Q26 revenue rose 12.4% YoY, with its above-consensus 2Q26 guidance of $571.5 million implying an even superior 12.6% increase. JOYY has raised its targeted shareholder returns for FY26-28 from $900 million previously to $1.5 billion now.

The Q1 FY2026 report came at a crucial time with the stock in need of assistance to fend off a breakdown further into bear market territory. JOYY managed to reverse a precarious situation with an acceleration in growth and increased capital returns to shareholders. JOYY has a lot going for it, but it is also not without blemishes, which includes more goodwill on the balance sheet some may be comfortable with.

The logo of medical implants maker Zimmer Biomet is seen at a plant in Winterthur, Switzerland, November 16, 2018. REUTERS/Moritz Hager/File Photo Purchase Licensing Rights, opens new tab

SummaryCompanies2026 profit forecast raised after Q1 earnings beat, aided by tariffs and lower costsU.S. salesforce overhaul caused disruption, including loss of two large customer accountsCFO Suketu Upadhyay ​to depart, Paul Stellato named interim CFO during searchApril 28 (Reuters) - Medical device maker Zimmer Biomet (ZBH.N), opens new tab struck a cautious tone on Tuesday, as disruption from a U.S. sales force overhaul and an unchanged revenue outlook overshadowed a profit ​forecast raise, sending its shares down about 7% in morning trading.

The company raised ​its 2026 adjusted profit forecast after beating Wall Street estimates for ⁠the first quarter, aided by the invalidation of U.S. tariffs and lower restructuring costs ​compared with the previous year.

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However, it left its full‑year organic, constant‑currency revenue growth forecast unchanged ​at 1% to 3%, saying it was "early in the year" and that 2026 remains a period of transition.

Zimmer Biomet is in the middle of a multi‑year shift to a more dedicated and specialized U.S. ​sales model, a transition CEO Ivan Tornos said caused modest disruption in the quarter, ​including the loss of two large customer accounts.

"As strong as the first quarter was, this is ‌a year ⁠of transition," Tornos said, pointing to continued investment in the U.S. commercial channel, changes to distributor structures in some international markets and execution risk tied to a heavy innovation pipeline.

Tornos noted improved productivity in territories that have already transitioned but acknowledged U.S. knee ​business growth fell short ​of expectations and ⁠needs to be better.

Zimmer Biomet also announced that Chief Financial Officer Suketu Upadhyay will leave the company, with internal executive Paul ​Stellato appointed interim CFO while a search is conducted.

The company forecast ​2026 adjusted ⁠earnings of $8.40 to $8.55 per share, up from its prior range of $8.30 to $8.45.

CFO Upadhyay said they benefited from the removal of U.S. tariffs, which added about 20 cents per share to ⁠earnings, ​with about half assumed for the second half of ​the year.

First‑quarter adjusted earnings were $2.09 per share, topping analysts’ estimates of $1.86, while revenue rose 2.9% on an organic ​basis to $2.09 billion, also above expectations.

Reporting by Sahil Pandey in Bengaluru; Editing by Vijay Kishore

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Key Takeaways ZBH beat Q1 estimates with EPS of $2.09 and revenues of $2.09B, both above the consensus marks. ZBH saw growth across all segments, led by S.E.T., up 17.4% and strong U.S. and international sales. ZBH expanded margins and raised 2026 EPS guidance to $8.40-$8.55, signaling improved outlook. Zimmer Biomet Holdings, Inc. (ZBH - Free Report) posted first-quarter 2026 adjusted earnings per share (EPS) of $2.09, which beat the Zacks Consensus Estimate by 12.6%. The adjusted figure rose 15.5% year over year.

The quarter’s adjustments included certain amortization, restructuring and other cost reduction initiatives, inventory and manufacturing-related charges and European Union Medical Device Regulation-related charges, among others.

GAAP EPS was $1.22 compared with 91 cents in the year-ago period. 

ZBH's RevenuesNet sales of $2.09 billion increased 9.3% (up 6.8% on a constant currency basis) year over year. The figure also surpassed the Zacks Consensus Estimate by 1.8%.

Following the earnings announcement, ZBH stock plunged 1.8% in the premarket trading today. 

ZBH's Revenues by GeographySales generated in the United States totaled $1.21 billion (up 8.6% year over year) for the quarter, while International sales grossed $877.4 million (up 10.3% year over year on a reported basis and 4.2% at CER).

Segmental Analysis of ZBH's RevenuesThe company currently reports under four product categories — Knees, Hips, S.E.T. (Sports Medicine, Extremities, Trauma, Craniomaxillofacial and Thoracic) and Technology & Data, Bone Cement and Surgical.

Sales in the Knees unit improved 1.8% year over year at CER to $828.6 million. 

Hips’ sales grew 3.2% year over year at CER to $524.1 million. 

Revenues in the S.E.T. unit rose 17.4% year over year at CER to $562.2 million. 

Technology & Data, Bone Cement and Surgical revenues rose 11.7% to $171.8 million at CER in the first quarter. 

ZBH's Margin PerformanceAdjusted gross margin, after excluding the impact of intangible asset amortization, was 72.4%, reflecting an expansion of 119 basis points (bps) year over year. Gross margin expanded despite a 4.8% rise in the cost of products sold.

Selling, general and administrative expenses rose 12% to $849.9 million. Research and development expenses declined 6.5% to $103.4 million. Adjusted operating margin expanded 104 bps to 26.7%.

Zimmer Biomet Holdings, Inc. Price, Consensus and EPS SurpriseZBH's Cash PositionZimmer Biomet exited the first quarter of 2026 with cash and cash equivalents of $424.2 million compared with $591.9 million at the end of the fourth quarter of 2025.

Cumulative net cash provided by operating activities at the end of the first quarter was $359.4 million compared with $382.8 million in the year-ago period.

ZBH’s 2026 OutlookZimmer Biomet has updated its EPS guidance for 2026.

Revenue growth is expected to be in the band of 2.5-4.5%. The Zacks Consensus Estimate for revenues is pegged at $8.52 billion, implying 3.6% year-over-year growth. 

Adjusted EPS guidance for the full year is now expected to be in the range of $8.40-$8.55 (previously $8.30-$8.45). The Zacks Consensus Estimate for 2026 adjusted EPS is pegged at $8.37.

Our Take on ZBHZimmer Biomet exited the first quarter with better-than-expected results, wherein both earnings and revenues beat estimates. All the business segments reported growth in the quarter.

Notable developments that fueled growth include the launch of the Phantom Curved TTC Nail System, a next-generation solution to support hindfoot fusion procedures and completed first case using the G7 TM Acetabular System, a next-generation implant engineered to address challenging primary and revision hip replacement surgeries, following FDA 510(k) clearance in February 2026.

Additionally, the expansion of both margins looks encouraging. 

ZBH's Zacks Rank and Key PicksZimmer Biomet currently has a Zacks Rank #3 (Hold).

Some better-ranked stocks from the broader medical space are Globus Medical (GMED - Free Report) , Intuitive Surgical (ISRG - Free Report) and Phibro Animal Health (PAHC - Free Report) .

Globus Medical, currently sporting a Zacks Rank #1 (Strong Buy), reported a fourth-quarter 2025 adjusted EPS of $1.28, which surpassed the Zacks Consensus Estimate by 20.8%. Revenues of $826.4 million beat the Zacks Consensus Estimate by 4.9%. You can see the complete list of today’s Zacks #1 Rank stocks here. 

GMED has an earnings yield of 4.7% compared with the industry’s negative yield of 1.4%. The company’s earnings beat estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 18.79%.

Intuitive Surgical, carrying a Zacks Rank #2 (Buy) at present, posted a first-quarter 2026 adjusted EPS of $2.50, exceeding the Zacks Consensus Estimate by 20.2%. Revenues of $2.77 billion topped the Zacks Consensus Estimate by 6.2%.

ISRG has an earnings yield of 2.1% compared with the industry’s negative yield of 0.9%. The company’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 16.82%.

Phibro Animal Health, carrying a Zacks Rank #2 at present, posted a second-quarter fiscal 2026 adjusted EPS of 87 cents, exceeding the Zacks Consensus Estimate by 27.01%. Revenues of $373.9 million outperformed the Zacks Consensus Estimate by 4.72%.

PAHC has an estimated long-term earnings growth rate of 21.5% compared with the industry’s 12.1% growth. The company’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 20.15%.

Zimmer Biomet Holdings, Inc. (ZBH) Q1 2026 Earnings Call Transcript

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) reported upbeat earnings for the first quarter on Tuesday.

The company posted first-quarter adjusted earnings of $2.09 per share, up 15.5% year over year, beating the Street estimates of $1.86.

The orthopedic implant maker reported sales of $2.087 billion, up 9.3% on a reported basis, up 6.8% on a constant currency basis, and 2.9% on an organic constant currency basis, beating the consensus of $2.07 billion.

"We are off to a solid start to the year — strategically, operationally, and financially," said Ivan Tornos, Chairman, President, and CEO of Zimmer Biomet.

Zimmer Biomet raised fiscal adjusted earnings guidance from $8.30-$8.45 per share to $8.40-$8.55 per share, compared to the consensus of $8.40.

The company reaffirms 2026 sales guidance of $8.44 billion-$8.60 billion versus the consensus of $8.56 billion.

Zimmer Biomet shares fell 2.6% to trade at $80.65 on Wednesday.

These analysts made changes to their price targets on Zimmer Biomet following earnings announcement.

Considering buying ZBH stock? Here’s what analysts think:

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Stock to Watch: Zimmer Biomet (ZBH - Free Report) Headquartered in Warsaw, IN, Zimmer Biomet is a leading musculoskeletal healthcare company that designs, manufactures and markets orthopedic reconstructive products; sports medicine, biologics, extremities and trauma products; spine, bone healing, craniomaxillofacial and thoracic products; dental implants; and related surgical products. With operations in over 25 countries, Zimmer markets products in more than 100 countries.

ZBH is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 9.77; value investors should take notice.

Nine analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.04 to $8.44 per share. ZBH boasts an average earnings surprise of +4.9%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, ZBH should be on investors' short list.

, /PRNewswire/ -- Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH), a global medical technology leader, today announced that members of the Zimmer Biomet management team will participate in the Bank of America Securities Health Care Conference on Wednesday, May 13, 2026, with a fireside chat at 8:40 a.m. PT (11:40 a.m. ET).

A live audio webcast can be accessed via Zimmer Biomet's Investor Relations website at https://investor.zimmerbiomet.com. It will be available for replay following the fireside chat.

About Zimmer Biomet 
Zimmer Biomet is a global medical technology leader with a comprehensive portfolio designed to maximize mobility and improve health. We seamlessly transform the patient experience through our innovative products and suite of integrated digital and robotic technologies that leverage data, data analytics and artificial intelligence.

With 90+ years of trusted leadership and proven expertise, Zimmer Biomet is positioned to deliver the highest quality solutions to patients and providers. Our legacy continues to come to life today through our progressive culture of evolution and innovation. 

For more information about our product portfolio, our operations in 25+ countries and sales in 100+ countries or about joining our team, visit www.zimmerbiomet.com or follow on LinkedIn at www.linkedin.com/company/zimmerbiomet or X at www.x.com/zimmerbiomet.

Contacts:

Media

Investors

Troy Kirkpatrick

David DeMartino

614-284-1926

646-531-6115

[email protected]

[email protected]

Kirsten Fallon

Zach Weiner

781-779-5561

908-591-6955

[email protected]

[email protected]

SOURCE Zimmer Biomet Holdings, Inc.