SCHEDULE 13G/A

YATSEN HLDG LTD

Class A Ordinary Shares, par value US$0.00001 per share · CUSIP: 985194109

Event date: 2025-06-30

Reporting persons may disclose overlapping interests. Their amounts are shown individually and are not added into a filing total.

Filing-level shares

Unavailable

Percent of class

Unavailable

• Banyan Partners Fund III, L.P.

  Shares: 54,668,026.00 · Class: 4.4%

• Banyan Partners Fund III-A, L.P.

  Shares: 9,415,519.00 · Class: 0.8%

• Banyan Partners III Ltd.

  Shares: 64,083,545.00 · Class: 5.2%

Amounts are as disclosed in this filing. Schedule type alone does not establish investment intent.