So-Young Provides Update on Status under Holding Foreign Companies Accountable Act
10 Maio 2022 - 8:30AM
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 updates its status under the Holding
Foreign Companies Accountable Act (the “HFCAA”). The Company was
provisionally named by the United States Securities and Exchange
Commission (the “SEC”) as a Commission-Identified Issuer on May 9,
2022, following the Company’s filing of the annual report on Form
20-F for the fiscal year ended December 31, 2021 with the SEC on
May 2, 2022, U.S. Eastern Time.
The Company understands that this identification
under the HFCAA and its implementation rules issued thereunder
indicates that the SEC determines that the Company used a
registered public accounting firm whose working paper cannot be
inspected or investigated completely by the Public Company
Accounting Oversight Board of the United States (the “PCAOB”) to
issue the audit opinion for its financial statements for the fiscal
year ended December 31, 2021.
In accordance with the HFCAA, the SEC shall
prohibit a company’s shares or American depositary shares (“ADSs”)
from being traded on a national stock exchange or in the
over-the-counter trading market in the United States if the company
has been identified by the SEC for three consecutive years due to
PCAOB’s inability to inspect the auditor’s working paper.
The Company has been actively exploring possible
solutions to protect the interest of its stakeholders. The Company
will continue to comply with applicable laws and regulations in
both China and the United States and strive to maintain its listing
status on the Nasdaq Stock Market.
About So-Young International
Inc.
So-Young International Inc. 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. 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. 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 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:
Investor RelationsMs. Vivian XuPhone:
+86-10-8790-2012E-mail: ir@soyoung.com
Christensen
In ChinaMr. Eric YuanPhone:
+86-10-5900-1548E-mail: Eyuan@christensenir.com
In USMs. Linda BergkampPhone:
+1-480-614-3004Email: lbergkamp@christensenir.com
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