So-Young International Inc.

So-Young International Inc.

SY
So-Young International Inc.US flagNASDAQ Global Market
1.95
USD
-0.15
- -
255.86MMarket Cap
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
0.59
7.42
19.34
14.92
12.22
15.94
11.7
14.84
14.21
- -
16.44
Basic EPS, GAAP
-1.23
-0.32
-1.54
1.64
0.05
-0.08
-0.61
0.21
-5.71
- -
-2.56
Free Cash Flow per Basic Share
-0.5
2.59
6.03
4.49
1.34
0.37
-1.2
-0.28
-0.85
- -
- -
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
0.42
- -
- -
Book Value per Share
- -
-4.83
-12.34
-3.36
-2.4
-2.56
-3.22
-3.27
-8.97
- -
-12.12
Tangible Book Value per Share
- -
12.23
32.53
34.24
23.69
16.79
17.66
18.58
17.75
- -
14.55
Basic Weighted Avg Shares
83
35
32
77
106
106
107
101
103
- -
101
Sales/Revenue/Turnover
49
259
617
1,152
1,295
1,692
1,258
1,498
1,467
1,523
1,659
Operating Margin (%)
-151.32
9.55
7.96
12.61
-4.38
1.97
-8.17
-4.08
-5.76
-17.49
-16.94
Depreciation Expense
1
1
2
6
14
30
47
46
46
57
- -
Net Income, GAAP
-81
17
55
177
6
-8
-66
21
-590
-242
-258
Effective Tax Rate (%)
- -
- -
5.44
21.96
- -
- -
- -
- -
- -
- -
- -
Profit Margin (%)
-165.08
6.63
8.92
15.35
0.45
-0.49
-5.21
1.42
-40.19
-15.91
-15.57
Working Capital
- -
412
976
2,491
2,225
1,315
1,379
1,182
1,094
701
628
LT Debt
- -
- -
- -
121
93
62
21
86
125
183
182
Total Equity
- -
427
1,038
2,643
2,620
2,517
2,608
2,561
1,959
1,669
1,609
Return on Invested Capital (%)
- -
- -
6.12
5.74
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Common Equity (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
106
116
198
LT Borrowings
- -
- -
- -
LT Finance Leases
160
183
182
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
77
77
77
Market Capitalization
2,801
1,813
1,901

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
1,480
1,485
1,489
Cash, Cash Equivalents & STI
875
872
797
Accounts Receivable, Net
70
52
43
Inventories
194
233
263
Total Current Liabilities
673
784
860
Payables & Accruals
491
345
598
ST Debt
106
116
198
Deferred Revenue
76
293
65

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
-8.08%
-14.8%
Free Cash Flow
- -
-25.57%
242.49%
Net Income, GAAP
- -
-524.55%
-58.9%
Sales/Revenue/Turnover
- -
5.18%
3.87%
Total Cash Common Dividend
- -
- -
-56.33%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
318
407
372
369
1,467
2025
297
379
387
461
1,523
2026
433
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.21
0.18
0.2
-5.92
-5.71
2025
-0.32
-0.36
-0.64
-1.08
- -
2026
-0.49
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.42
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Company Description

APIChat
CEO
Xing Jin
Full Time Employees
1,800
Sector
Healthcare
Industry
Medical - Healthcare Information Services
Address
Ronsin Technology Center Beijing People's Republic of China 100102
IPO Date
May 2, 2019
Business
So-Young International Inc. (Nasdaq: SY) operates as the leading aesthetic treatment platform in China, connecting consumers with online services and offline treatments through its digital ecosystem and branded aesthetic centers. Founded in 2013 and headquartered in Beijing, the company offers curated treatment information, user-generated content via Beauty Diaries and reviews, online reservations, high-quality aesthetic treatments including non-invasive procedures such as thread lifts, intense pulsed light, ultrasound facelifts, picosecond lasers, body contouring, and injectables like skin boosters, hyaluronic acid-based products, botox, and collagen; research, development, production, sale, and distribution of optoelectronic medical equipment encompassing excimer laser systems, UV excimer therapy devices, LED and red-light therapy systems, surgical lasers, hydrodynamic-assisted liposuction systems, and pneumatic liquid spray devices; sales of injectable products; maintenance, installation, operational training, and equipment packaging services; consumption healthcare services in dermatology, dentistry, orthodontics, gynecology, postnatal care, ophthalmology, and physical examinations; and content management through short-form videos, featured articles, and chat messages. So-Young primarily serves consumers and medical aesthetic service providers in China across ten major cities including Beijing, Shanghai, Guangzhou, Shenzhen, Hangzhou, Chengdu, Wuhan, Chongqing, Ningbo, and Changsha, leveraging its social community, key opinion leader networks, partnerships with platforms like Meituan, and exclusive distribution rights for treatments such as BBL to drive user engagement and blockbuster product penetration exceeding 30% of revenues. In recent developments, the company expanded its branded aesthetic centers to 39 fully operational locations (38 directly-operated, 1 franchised) by September 30, 2025, with 20 achieving profitability and 29 generating positive quarterly operating cash flow; reported third-quarter 2025 aesthetic treatment services revenues of RMB183.6 million, a 304.6% increase year-over-year, surpassing guidance; grew verified treatment visits to over 89,800 and active users exceeding 130,000; increased core members by over 10,000 sequentially with 88% revenue contribution and 70% repurchase rate; regained Nasdaq minimum bid price compliance in July 2025; announced and extended plans for an ADS ratio change in May and June 2025; and targets at least 35 new centers in 2026 alongside Q4 2025 aesthetic treatment services revenues between RMB216 million and RMB226 million, emphasizing digitalization, AI enhancements, supply chain synergies, and customer acquisition efficiency with 46% from referrals.

Company News

APIChat
  • So-Young: Revenue Acceleration Is Overshadowed By Widening Losses (Rating Downgrade)

  • So-Young International Inc. (SY) Q1 2026 Earnings Call Transcript

  • So-Young International Q1 Earnings Call Highlights

  • So-Young Reports Unaudited First Quarter 2026 Financial Results

  • So-Young to Report First Quarter 2026 Financial Results on May 22, 2026

  • So-Young to Report First Quarter 2026 Financial Results on May 22, 2026

  • So-Young International Inc. Files Its Annual Report on Form 20-F

  • So-Young International Q4 Earnings Call Highlights

  • So-Young International Inc. (SY) Q4 2025 Earnings Call Transcript

  • So-Young Reports Unaudited Fourth Quarter and Fiscal Year 2025 Financial Results

  • So-Young to Report Fourth Quarter and Full Year 2025 Financial Results on March 25, 2026

  • Head-To-Head Review: So-Young International (NASDAQ:SY) and CVS Health (NYSE:CVS)

  • Citigroup Inc. Purchases 626,963 Shares of So-Young International Inc. Sponsored ADR $SY

  • So-Young International Inc. (SY) Q3 2025 Earnings Call Transcript

  • So-Young Reports Unaudited Third Quarter 2025 Financial Results

  • So-Young to Report Third Quarter 2025 Financial Results on November 17, 2025

  • So-Young: Turning Positive On Sales Beat And Attractive Valuations (Rating Upgrade)

  • So-Young International Inc. (SY) Q2 2025 Earnings Call Transcript

  • So-Young Reports Unaudited Second Quarter 2025 Financial Results

  • So-Young to Report Second Quarter 2025 Financial Results on August 15, 2025