UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of August 2024
Commission File Number: 001-38878
So-Young International Inc.
2/F, East Tower, Poly Plaza
No. 66 Xiangbin Road
Chaoyang District, Beijing, 100012
People's Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
Exhibit Index
Exhibit 99.1—Press Release
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| So-Young International Inc. |
| |
By |
|
/s/ Hui Zhao |
| |
Name |
: |
Hui Zhao |
| |
Title |
: |
Chief Financial Officer |
Date: August 23, 2024
Exhibit 99.1
So-Young
Reports Unaudited Second Quarter 2024 Financial Results
BEIJING,
China, Aug. 23, 2024 — So-Young International Inc. (Nasdaq: SY) (“So-Young”
or the “Company”), the largest and most vibrant social community in China for consumers, professionals and service providers
in the medical aesthetics industry, today announced its unaudited financial results for the second quarter ended June 30, 2024.
Second
Quarter 2024 Financial Highlights
| · | Total
revenues were RMB407.4 million (US$56.1 million1),
compared with RMB412.1 million in the corresponding period of 2023, exceeding the high end
of guidance. |
| · | Net
income attributable to So-Young International Inc. was RMB18.9 million (US$2.6 million),
compared with net loss attributable to So-Young International Inc. of RMB2.6 million in the
same period of 2023. |
| · | Non-GAAP
net income attributable to So-Young International Inc.2
was RMB22.2 million (US$3.1 million), compared with non-GAAP net income attributable
to So-Young International Inc. of RMB15.5 million in the same period of 2023. |
Second
Quarter 2024 Operational Highlights
| · | Average
mobile MAUs were 1.5 million, compared with 3.0 million in the second quarter of 2023. |
| · | Number
of medical service providers subscribing to information services on So-Young’s platform
was 1,174, compared with 1,659 in the second quarter of 2023. |
| · | Total
number of purchasing users through reservation services was 137.5 thousand and the aggregate
value of medical aesthetic treatment transactions facilitated by So-Young’s platform
was RMB427.8 million. |
Mr. Xing Jin,
Co-Founder and Chief Executive Officer of So-Young, commented, “Our performance during the second quarter was solid with total
revenue beating guidance on the back of a significant 22.6% year-over-year increase in sales of medical products and maintenance services.
This solid performance is directly attributable to our strategic initiatives and ability to capitalize on industry trends and enhance
the overall vertical integration and diversification of our business. We made significant progress in expanding our chain of clinics,
opening 14 in prime commercial areas across eight core cities. Notably, our Beijing clinic continues to lead the industry in key operating
metrics, including repeat customer rates and customer acquisition costs. We plan to swiftly replicate this proven model in other cities
to further expand our offline footprint. Leveraging the reputational strength of our brand and extensive consumer behavior data, we have
built a solid foundation to drive upstream product development and customization. Product sales continue to grow rapidly with a strong
and diversified pipeline currently in development with our partners. Moving forward, we will continue to explore opportunities across
the upstream, midstream and downstream sectors, solve industry pain points, and lead the industry towards a new era of quality medical
aesthetics.”
1
This press release contains translations of certain Renminbi (RMB) amounts into U.S. dollars
(US$) solely for the convenience of the reader. Unless otherwise specified, all translations of Renminbi amounts into U.S. dollar amounts
in this press release are made at RMB7.2672 to US$1.00, which was the U.S. dollars middle rate announced by the Board of Governors of
the Federal Reserve System of the United States on June 28, 2024.
2
Non-GAAP net income/(loss) attributable to So-Young International Inc. is defined as net income/(loss)
attributable to So-Young International Inc. excluding share-based compensation expenses attributable to So-Young International Inc. See
“Reconciliation of GAAP and Non-GAAP Results” at the end of this press release.
Mr. Hui Zhao,
Chief Financial Officer of So-Young, added, “Growth during the quarter was fueled by the progress we made in integrating our platform
across the medical aesthetic value chain. This not only promotes the high-quality and sustainable development of the industry, but also
further strengthens our market position. As we accelerate the development of our new businesses, we will continue to prudently manage
costs and enhance operational efficiency. We are confident that these strategic initiatives will continue to drive sustainable growth
and enhance shareholder value over the long-term.”
Second
Quarter 2024 Financial Results
Revenues
Total revenues
were RMB407.4 million (US$56.1 million), a decrease of 1.1% from RMB412.1 million in the same period of 2023. The decrease was primarily
due to a decrease in the number of medical service providers subscribing to information services on So-Young’s platform.
| · | Information
services and other revenues were RMB279.2 million (US$38.4 million), a decrease of 6.6%
from RMB298.9 million in the same period of 2023. The decrease was primarily due to a decrease
in the number of medical service providers subscribing to information services on So-Young’s
platform. |
| · | Reservation
services revenues were RMB22.4 million (US$3.1 million), a decrease of 16.9% from
RMB26.9 million in the same period of 2023. The decrease was primarily due to the policy
change for commission rates and subsidies. |
| · | Sales
of medical products and maintenance services were RMB105.8 million (US$14.6 million),
an increase of 22.6% from RMB86.3 million in the same period of 2023, primarily due to an
increase in the order volumes for cosmetic products. |
Cost of Revenues
Cost of revenues
was RMB155.1 million (US$21.3 million), an increase of 3.1% from RMB150.4 million in the second quarter of 2023. The increase was primarily
due to an increase in costs associated with sales of cosmetic products. Cost of revenues included share-based compensation expenses of
RMB0.2 million (US$0.0 million), compared with the share-based compensation expenses of RMB0.4 million in the corresponding period of
2023.
| · | Cost
of services and others were RMB101.9 million (US$14.0 million), a decrease of 4.4% from
RMB106.5 million in the second quarter of 2023. The decrease was primarily due to a decrease
in the cost of services associated with So-Young Prime. |
| · | Cost
of medical products sold and maintenance services were RMB53.2 million (US$7.3 million),
an increase of 21.3% from RMB43.9 million in the second quarter of 2023. The increase was
primarily due to an increase in costs associated with the sales of cosmetic products. |
Operating Expenses
Total operating
expenses were RMB245.6 million (US$33.8 million), a decrease of 13.0% from RMB282.4 million in the second quarter of 2023.
| · | Sales
and marketing expenses were RMB132.3 million (US$18.2 million), a decrease of 4.1%
from RMB137.9 million in the second quarter of 2023. The decrease was mainly due to a decrease
in expenses associated with branding and user acquisition activities. Sales and marketing
expenses included share-based compensation expenses of RMB0.2 million (US$0.0 million), compared
with RMB0.8 million in the corresponding period of 2023. |
| · | General
and administrative expenses were RMB70.8 million (US$9.7 million), a decrease of
23.3% from RMB92.3 million in the second quarter of 2023. The decrease was primarily due
to decreases in share-based compensation expenses and professional consulting fees. General
and administrative expenses included share-based compensation expenses of RMB2.0 million
(US$0.3 million), compared with RMB15.5 million in the corresponding period of 2023. The
decrease in share-based compensation expenses was due to the compensation costs of the restricted
share units granted in 2023, which were fully recognized by the end of the first quarter
of 2024. |
| · | Research
and development expenses were RMB42.5 million (US$5.8 million), a decrease of 18.5%
from RMB52.1 million in the second quarter of 2023. The decrease was primarily attributable
to improvements in staff efficiency. Research and development expenses included share-based
compensation expenses of RMB0.8 million (US$0.1 million), compared with RMB1.3 million in
the corresponding period of 2023. |
Income Tax Benefits
Income tax benefits
were RMB2.6 million (US$0.4 million), compared with income tax benefits of RMB0.8 million in the same period of 2023.
Net Income/(Loss) Attributable
to So-Young International Inc.
Net
income attributable to So-Young International Inc. was RMB18.9 million (US$2.6 million), compared
with a net loss attributable to So-Young International Inc. of RMB2.6 million in the second quarter of 2023.
Non-GAAP Net Income Attributable
to So-Young International Inc.
Non-GAAP
net income attributable to So-Young International Inc., which excludes the impact of share-based
compensation expenses attributable to So-Young International Inc., was RMB22.2 million (US$3.1 million), compared with RMB15.5 million
non-GAAP net income attributable to So-Young International Inc. in the same period of 2023.
Basic and Diluted Earnings/(Loss)
per ADS
Basic and diluted
earnings per ADS attributable to ordinary shareholders were RMB0.18 (US$0.02) and RMB0.18 (US$0.02), respectively, compared with basic
and diluted loss per ADS attributable to ordinary shareholders of RMB0.02 and RMB0.02, respectively, in the same period of 2023.
Cash and Cash Equivalents, Restricted
Cash and Term Deposits, Term Deposits and Short-Term Investments
As of June 30,
2024, cash and cash equivalents, restricted cash and term deposits, term deposits and short-term investments were RMB1,245.1 million
(US$171.3 million), compared with RMB1,341.6 million as of December 31, 2023.
Business Outlook
For the third quarter
of 2024, So-Young expects total revenues to be between RMB350.0 million (US$48.2 million) and RMB370.0 million (US$50.9 million), representing
a 9.2% to 4.0% decrease from the same period in 2023. The above outlook is based on the current market conditions and reflects the Company’s
preliminary estimates of market and operating conditions, as well as customer demand, which are all subject to change.
Non-GAAP Financial
Measures
To
supplement the financial measures prepared in accordance with generally accepted accounting principles in the United States, or GAAP,
this press release presents non-GAAP income/(loss) from operations and non-GAAP net income/(loss) attributable to So-Young International
Inc. by excluding share-based compensation expenses from income/(loss) from operations and net income/(loss) attributable to So-Young
International Inc., respectively. The Company believes these non-GAAP financial measures are important to help investors understand the
Company’s operating and financial performance, compare business trends among different reporting
periods on a consistent basis and assess the Company’s core operating results, as they exclude certain expenses that are not expected
to result in cash payments. The use of the above non-GAAP financial measures has certain limitations. Share-based compensation expenses
have been and will continue to be incurred in the future. All these are not reflected in the presentation of the non-GAAP financial measures,
but should be considered in the overall evaluation of the Company’s results. The Company compensates for these limitations by providing
the relevant disclosure of its share-based compensation expenses in the reconciliations to the most directly comparable GAAP financial
measures, which should be considered when evaluating the Company’s performance. These non-GAAP financial measures should be considered
in addition to financial measures prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, financial
measures prepared in accordance with GAAP. Reconciliation of each of these non-GAAP financial measures to the most directly comparable
GAAP financial measure is set forth at the end of this release.
Conference Call
Information
So-Young's management
will hold an earnings conference call on Friday, August 23, 2024, at 7:30 AM U.S. Eastern Time (7:30 PM on the same day, Beijing/Hong
Kong Time). Dial-in details for the earnings conference call are as follows:
| International: |
+1-412-902-4272 |
| Mainland China： |
4001-201203 |
| US: |
+1-888-346-8982 |
| Hong Kong： |
+852-301-84992 |
| Passcode: |
So-Young International Inc. |
A telephone replay
will be available two hours after the conclusion of the conference call through 23:59 U.S. Eastern Time, August 30, 2024. The dial-in
details are:
| International: |
+1-412-317-0088 |
| US: |
+1-877-344-7529 |
| Passcode: |
3725692 |
Additionally,
a live and archived webcast of this conference call will be available at http://ir.soyoung.com.
About So-Young
International Inc.
So-Young International
Inc. (Nasdaq: SY) is the largest and most vibrant social community in China for consumers, professionals and service providers in the
medical aesthetics industry. The Company presents users with reliable information through offering high quality and trustworthy content
together with a multitude of social functions on its platform, as well as by curating medical aesthetic service providers that are carefully
selected and vetted. Leveraging So-Young’s strong brand image, extensive audience reach, trust from its users, highly engaging
social community and data insights, the Company is well-positioned to expand both along the medical aesthetic industry value chain and
into the massive, fast-growing consumption healthcare service market.
Safe Harbor
Statement
This
announcement 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,” “confident” and similar statements. Among other things, the Financial Guidance and quotations from
management in this announcement, as well as So-Young’s strategic and operational plans, contain
forward-looking statements. So-Young may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities
and Exchange Commission, 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 but not limited to statements
about So-Young’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: So-Young’s strategies; So-Young’s future business development, financial condition
and results of operations; So-Young’s ability to retain and increase the number of users and medical service providers, and expand
its service offerings; competition in the online medical aesthetic service industry; changes in So-Young’s revenues, costs or expenditures;
Chinese governmental policies and regulations relating to the online medical aesthetic service industry, general economic and business
conditions globally and in China; and assumptions underlying or related to any of the foregoing. Further information regarding these
and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this
press release and in the attachments is as of the date of the press release, and So-Young undertakes no duty to update such information,
except as required under applicable law.
For more information,
please contact:
So-Young
Investor Relations
Ms. Mona Qiao
Phone: +86-10-8790-2012
E-mail: ir@soyoung.com
Christensen
In China
Ms. Dee Wang
Phone: +86-10-5900-1548
E-mail: dee.wang@christensencomms.com
In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: linda.bergkamp@christensencomms.com
SO-YOUNG INTERNATIONAL
INC.
UNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS
(Amounts in thousands,
except for share and per share data)
| | |
As of | |
| | |
December 31, | | |
June 30, | | |
June 30, | |
| | |
2023 | | |
2024 | | |
2024 | |
| | |
RMB | | |
RMB | | |
US$ | |
| Assets | |
| | |
| | |
| |
| Current assets: | |
| | | |
| | | |
| | |
| Cash and cash equivalents | |
| 426,119 | | |
| 456,927 | | |
| 62,875 | |
| Restricted cash and term deposits | |
| 14,695 | | |
| 83,224 | | |
| 11,452 | |
| Trade receivables | |
| 57,219 | | |
| 81,585 | | |
| 11,226 | |
| Inventories | |
| 118,924 | | |
| 143,374 | | |
| 19,729 | |
| Receivables from online payment platforms | |
| 23,158 | | |
| 20,819 | | |
| 2,865 | |
| Amounts due from related parties | |
| 9,212 | | |
| 10,292 | | |
| 1,416 | |
| Term deposits and short-term investments | |
| 900,823 | | |
| 704,979 | | |
| 97,008 | |
| Prepayment and other current assets | |
| 171,774 | | |
| 237,267 | | |
| 32,649 | |
| Total current assets | |
| 1,721,924 | | |
| 1,738,467 | | |
| 239,220 | |
| Non-current assets: | |
| | | |
| | | |
| | |
| Long-term investments | |
| 261,016 | | |
| 278,546 | | |
| 38,329 | |
| Intangible assets | |
| 145,253 | | |
| 133,104 | | |
| 18,316 | |
| Goodwill | |
| 540,693 | | |
| 540,693 | | |
| 74,402 | |
| Property and equipment, net | |
| 116,782 | | |
| 137,162 | | |
| 18,874 | |
| Deferred tax assets | |
| 78,034 | | |
| 80,626 | | |
| 11,095 | |
| Operating lease right-of-use assets | |
| 118,408 | | |
| 139,885 | | |
| 19,249 | |
| Other non-current assets | |
| 232,455 | | |
| 183,546 | | |
| 25,257 | |
| Total non-current assets | |
| 1,492,641 | | |
| 1,493,562 | | |
| 205,522 | |
| Total assets | |
| 3,214,565 | | |
| 3,232,029 | | |
| 444,742 | |
| | |
| | | |
| | | |
| | |
| Liabilities | |
| | | |
| | | |
| | |
| Current liabilities: | |
| | | |
| | | |
| | |
| Short-term borrowings | |
| 29,825 | | |
| 39,713 | | |
| 5,465 | |
| Taxes payable | |
| 56,894 | | |
| 57,567 | | |
| 7,921 | |
| Contract liabilities | |
| 103,374 | | |
| 95,656 | | |
| 13,163 | |
| Salary and welfare payables | |
| 86,290 | | |
| 79,716 | | |
| 10,969 | |
| Amounts due to related parties | |
| 388 | | |
| 138 | | |
| 19 | |
| Accrued expenses and other current liabilities | |
| 233,913 | | |
| 249,175 | | |
| 34,287 | |
| Operating lease liabilities-current | |
| 29,739 | | |
| 27,482 | | |
| 3,782 | |
| Total current liabilities | |
| 540,423 | | |
| 549,447 | | |
| 75,606 | |
| Non-current liabilities: | |
| | | |
| | | |
| | |
| Operating lease liabilities-non current | |
| 86,210 | | |
| 114,478 | | |
| 15,753 | |
| Deferred tax liabilities | |
| 25,082 | | |
| 21,342 | | |
| 2,937 | |
| Other non-current liabilities | |
| 1,536 | | |
| 1,610 | | |
| 222 | |
| Total non-current liabilities | |
| 112,828 | | |
| 137,430 | | |
| 18,912 | |
| Total liabilities | |
| 653,251 | | |
| 686,877 | | |
| 94,518 | |
SO-YOUNG INTERNATIONAL
INC.
UNAUDITED
CONDENSED CONSOLIDATED BALANCE SHEETS (Continued)
(Amounts in thousands,
except for share and per share data)
| Shareholders’ equity: | |
| | |
| | |
| |
| Treasury stock | |
| (358,453 | ) | |
| (365,451 | ) | |
| (50,288 | ) |
| Class A ordinary shares (US$0.0005 par value; 750,000,000 shares authorized as of December 31, 2023 and June 30, 2024; 73,688,044 and 63,422,436 shares issued and outstanding as of December 31, 2023, 77,387,894 and 66,469,129 shares issued and outstanding as of June 30, 2024, respectively) | |
| 238 | | |
| 251 | | |
| 35 | |
| Class B ordinary shares (US$ 0.0005 par value; 20,000,000 shares authorized as of December 31, 2023 and June 30, 2024; 12,000,000 shares issued and outstanding as of December 31, 2023 and June 30, 2024) | |
| 37 | | |
| 37 | | |
| 5 | |
| Additional paid-in capital | |
| 3,080,433 | | |
| 3,065,650 | | |
| 421,847 | |
| Statutory reserves | |
| 33,855 | | |
| 33,855 | | |
| 4,659 | |
| Accumulated deficit | |
| (330,166 | ) | |
| (332,465 | ) | |
| (45,749 | ) |
| Accumulated other comprehensive income | |
| 18,185 | | |
| 23,934 | | |
| 3,293 | |
| Total So-Young International Inc. shareholders’ equity | |
| 2,444,129 | | |
| 2,425,811 | | |
| 333,802 | |
| Non-controlling interests | |
| 117,185 | | |
| 119,341 | | |
| 16,422 | |
| Total shareholders’ equity | |
| 2,561,314 | | |
| 2,545,152 | | |
| 350,224 | |
| Total liabilities and shareholders’ equity | |
| 3,214,565 | | |
| 3,232,029 | | |
| 444,742 | |
SO-YOUNG
INTERNATIONAL INC.
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts
in thousands, except for share and per share data)
| | |
For the Three Months Ended | | |
For the Six Months Ended | |
| | |
June 30,
2023 | | |
June 30,
2024 | | |
June 30,
2024 | | |
June 30,
2023 | | |
June 30,
2024 | | |
June 30,
2024 | |
| | |
RMB | | |
RMB | | |
US$ | | |
RMB | | |
RMB | | |
US$ | |
| Revenues: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Information services and others | |
| 298,879 | | |
| 279,216 | | |
| 38,421 | | |
| 509,163 | | |
| 487,964 | | |
| 67,146 | |
| Reservation services | |
| 26,903 | | |
| 22,356 | | |
| 3,076 | | |
| 56,584 | | |
| 45,420 | | |
| 6,250 | |
| Sales of medical products and maintenance services | |
| 86,284 | | |
| 105,808 | | |
| 14,560 | | |
| 156,422 | | |
| 192,278 | | |
| 26,458 | |
| Total revenues | |
| 412,066 | | |
| 407,380 | | |
| 56,057 | | |
| 722,169 | | |
| 725,662 | | |
| 99,854 | |
| Cost of revenues: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Cost of services and others | |
| (106,519 | ) | |
| (101,853 | ) | |
| (14,015 | ) | |
| (188,019 | ) | |
| (176,075 | ) | |
| (24,229 | ) |
| Cost of medical products sold and maintenance services | |
| (43,859 | ) | |
| (53,198 | ) | |
| (7,320 | ) | |
| (76,080 | ) | |
| (96,291 | ) | |
| (13,250 | ) |
| Total cost of revenues | |
| (150,378 | ) | |
| (155,051 | ) | |
| (21,335 | ) | |
| (264,099 | ) | |
| (272,366 | ) | |
| (37,479 | ) |
| Gross profit | |
| 261,688 | | |
| 252,329 | | |
| 34,722 | | |
| 458,070 | | |
| 453,296 | | |
| 62,375 | |
| Operating expenses: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Sales and marketing expenses | |
| (137,921 | ) | |
| (132,308 | ) | |
| (18,206 | ) | |
| (250,432 | ) | |
| (245,564 | ) | |
| (33,791 | ) |
| General and administrative expenses | |
| (92,341 | ) | |
| (70,799 | ) | |
| (9,742 | ) | |
| (153,855 | ) | |
| (155,752 | ) | |
| (21,432 | ) |
| Research and development expenses | |
| (52,141 | ) | |
| (42,498 | ) | |
| (5,848 | ) | |
| (107,934 | ) | |
| (82,089 | ) | |
| (11,296 | ) |
| Total operating expenses | |
| (282,403 | ) | |
| (245,605 | ) | |
| (33,796 | ) | |
| (512,221 | ) | |
| (483,405 | ) | |
| (66,519 | ) |
| (Loss)/Income from operations | |
| (20,715 | ) | |
| 6,724 | | |
| 926 | | |
| (54,151 | ) | |
| (30,109 | ) | |
| (4,144 | ) |
| Other income/(expenses): | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Investment income, net | |
| 3,370 | | |
| 788 | | |
| 108 | | |
| 10,222 | | |
| 2,887 | | |
| 397 | |
| Interest income, net | |
| 13,966 | | |
| 11,718 | | |
| 1,612 | | |
| 25,893 | | |
| 24,031 | | |
| 3,307 | |
| Exchange (losses)/gains | |
| (1,579 | ) | |
| 16 | | |
| 2 | | |
| (1,154 | ) | |
| 410 | | |
| 56 | |
| Share of losses of equity method investee | |
| (3,699 | ) | |
| (3,733 | ) | |
| (514 | ) | |
| (6,870 | ) | |
| (7,729 | ) | |
| (1,064 | ) |
| Others, net | |
| 6,562 | | |
| 2,039 | | |
| 281 | | |
| 8,587 | | |
| 5,319 | | |
| 732 | |
| (Loss)/Income before tax | |
| (2,095 | ) | |
| 17,552 | | |
| 2,415 | | |
| (17,473 | ) | |
| (5,191 | ) | |
| (716 | ) |
| Income tax benefits | |
| 785 | | |
| 2,571 | | |
| 354 | | |
| 5,049 | | |
| 5,128 | | |
| 706 | |
| Net (loss)/income | |
| (1,310 | ) | |
| 20,123 | | |
| 2,769 | | |
| (12,424 | ) | |
| (63 | ) | |
| (10 | ) |
| Net income attributable to noncontrolling interests | |
| (1,268 | ) | |
| (1,182 | ) | |
| (163 | ) | |
| (2,102 | ) | |
| (2,236 | ) | |
| (308 | ) |
| Net (loss)/income attributable to So-Young International Inc. | |
| (2,578 | ) | |
| 18,941 | | |
| 2,606 | | |
| (14,526 | ) | |
| (2,299 | ) | |
| (318 | ) |
SO-YOUNG INTERNATIONAL
INC.
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS (Continued)
(Amounts
in thousands, except for share and per share data)
| | |
For the Three Months Ended | | |
For the Six Months Ended | |
| | |
June 30,
2023 | | |
June 30,
2024 | | |
June 30,
2024 | | |
June 30,
2023 | | |
June 30,
2024 | | |
June 30,
2024 | |
| | |
RMB | | |
RMB | | |
US$ | | |
RMB | | |
RMB | | |
US$ | |
| Net (loss)/earnings per ordinary share | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net (loss)/earnings per ordinary share attributable to ordinary shareholder - basic | |
| (0.03 | ) | |
| 0.24 | | |
| 0.03 | | |
| (0.18 | ) | |
| (0.03 | ) | |
| (0.00 | ) |
| Net (loss)/earnings per ordinary share attributable to ordinary shareholder - diluted | |
| (0.03 | ) | |
| 0.24 | | |
| 0.03 | | |
| (0.18 | ) | |
| (0.03 | ) | |
| (0.00 | ) |
| Net (loss)/earnings per ADS attributable to ordinary shareholders - basic (13 ADS represents 10 Class A ordinary shares) | |
| (0.02 | ) | |
| 0.18 | | |
| 0.02 | | |
| (0.14 | ) | |
| (0.02 | ) | |
| (0.00 | ) |
| Net (loss)/earnings per ADS attributable to ordinary shareholders - diluted (13 ADS represents 10 Class A ordinary shares) | |
| (0.02 | ) | |
| 0.18 | | |
| 0.02 | | |
| (0.14 | ) | |
| (0.02 | ) | |
| (0.00 | ) |
| Weighted average number of ordinary shares used in computing earnings/(loss) per share, basic* | |
| 77,310,426 | | |
| 79,586,926 | | |
| 79,586,926 | | |
| 78,580,369 | | |
| 79,569,190 | | |
| 79,569,190 | |
| Weighted average number of ordinary shares used in computing earnings/(loss) per share, diluted* | |
| 77,310,426 | | |
| 79,899,412 | | |
| 79,899,412 | | |
| 78,580,369 | | |
| 79,569,190 | | |
| 79,569,190 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Share-based compensation expenses included in: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Cost of services and others | |
| (412 | ) | |
| (229 | ) | |
| (32 | ) | |
| (1,217 | ) | |
| (174 | ) | |
| (24 | ) |
| Sales and marketing expenses | |
| (823 | ) | |
| (184 | ) | |
| (25 | ) | |
| (2,317 | ) | |
| (237 | ) | |
| (33 | ) |
| General and administrative expenses | |
| (15,546 | ) | |
| (2,015 | ) | |
| (277 | ) | |
| (21,564 | ) | |
| (26,468 | ) | |
| (3,642 | ) |
| Research and development expenses | |
| (1,305 | ) | |
| (817 | ) | |
| (112 | ) | |
| (2,182 | ) | |
| (1,660 | ) | |
| (228 | ) |
| * | Both Class A
and Class B ordinary shares are included in the calculation of the weighted average
number of ordinary shares outstanding, basic and diluted. |
SO-YOUNG INTERNATIONAL
INC.
Reconciliation
of GAAP and Non-GAAP Results
(Amounts in thousands,
except for share and per share data)
| | |
For the Three Months Ended | | |
For the Six Months Ended | |
| | |
June 30, 2023 | | |
June 30, 2024 | | |
June 30,
2024 | | |
June 30,
2023 | | |
June 30,
2024 | | |
June 30,
2024 | |
| | |
RMB | | |
RMB | | |
US$ | | |
RMB | | |
RMB | | |
US$ | |
| GAAP (loss)/income from operations | |
| (20,715 | ) | |
| 6,724 | | |
| 926 | | |
| (54,151 | ) | |
| (30,109 | ) | |
| (4,144 | ) |
| Add back: Share-based compensation expenses | |
| 18,086 | | |
| 3,245 | | |
| 446 | | |
| 27,280 | | |
| 28,539 | | |
| 3,927 | |
| Non-GAAP (loss)/income from operations | |
| (2,629 | ) | |
| 9,969 | | |
| 1,372 | | |
| (26,871 | ) | |
| (1,570 | ) | |
| (217 | ) |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| GAAP net (loss)/income attributable to So-Young International Inc. | |
| (2,578 | ) | |
| 18,941 | | |
| 2,606 | | |
| (14,526 | ) | |
| (2,299 | ) | |
| (318 | ) |
| Add back: Share-based compensation expenses | |
| 18,086 | | |
| 3,245 | | |
| 446 | | |
| 27,280 | | |
| 28,539 | | |
| 3,927 | |
| Non-GAAP net income attributable to So-Young International Inc. | |
| 15,508 | | |
| 22,186 | | |
| 3,052 | | |
| 12,754 | | |
| 26,240 | | |
| 3,609 | |
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