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, 2022.
Second Quarter 2022 Financial Highlights
- Total revenues were RMB309.1 million
(US$46.1 million1), a decrease of 31.6% from RMB451.8 million in
the same period of 2021.
- Net loss attributable to So-Young
International Inc. was RMB32.3 million (US$4.8 million), compared
with net income attributable to So-Young International Inc. of
RMB57.6 million in the second quarter of 2021.
- Non-GAAP net loss attributable to
So-Young International Inc.2 was RMB22.7 million (US$3.4 million),
compared with non-GAAP net income attributable to So-Young
International Inc. of RMB73.7 million in the same period of
2021.
Second Quarter 2022 Operational Highlights
- Average mobile MAUs were 3.5 million, compared with 10.0
million in the second quarter of 2021.
- Number of paying medical service providers on So-Young’s
platform were 5,735, an increase of 17.1% from 4,899 in the second
quarter of 2021.
- Number of medical service providers subscribing to information
services on So-Young’s platform were 2,622, compared with 2,236 in
the second quarter of 2021.
- Total number of purchasing users through reservation services
were 129.5 thousand and the aggregate value of medical aesthetic
treatment transactions facilitated by So-Young’s platform was
RMB353.1 million.
Mr. Xing Jin, Co-Founder and Chief Executive Officer of
So-Young, commented, “In this quarter, we recorded a solid result,
which also demonstrated our resilience amid COVID-19
resurgence and soft consumer sentiment. Benefiting from our
digital capabilities and innovative user experience, the number of
paying medical service providers on So-Young’s platform increased
by 17.1% year-over-year to 5,735.”
Mr. Jin continued, “In the current challenging environment, our
business remained on track, and we are also refining our
infrastructure capacity. Recently, we launched “So-Young Select”
strategy to help medical service providers improve operating
efficiency and support users in making better decisions. Looking
ahead, we are committed to having a healthy growth strategy and
create more value to reaffirm our leadership position.”
Mr. Min Yu, Chief Financial Officer of So-Young, commented, “We
are encouraged to see a gradual recovery and a steady increase
quarter-over-quarter on the top line. Meanwhile, we were
prudent with our expenses management and narrowed our loss in
the quarter. As a result, the non-GAAP net loss attributable to
So-Young International Inc. narrowed by more than 53.0%
quarter-over-quarter. Going forward, we will continue to execute
our business strategies and keep a healthy cash reserve with
RMB1,598.9 million as of June 30, 2022 to generate long-term
shareholder value.”
Second Quarter 2022 Financial Results
Revenues
Total revenues were RMB309.1 million (US$46.1 million), a
decrease of 31.6% from RMB451.8 million in the same period of 2021.
The decrease was primarily due to a decrease in average revenue per
paying medical service provider which was impacted by the
resurgence of COVID-19 and the weakening macro-economic
environment.
- Information services and other revenues were
RMB219.3 million (US$32.7 million), a decrease of 39.2% from
RMB360.7 million in the same period of 2021. The decrease was
primarily due to a decrease in average revenue per paying medical
service provider subscribing to information services.
- Reservation services revenues were
RMB30.6 million (US$4.6 million), a decrease of 66.4% from RMB91.1
million in the same period of 2021.The decrease was primarily due
to the impact by the resurgence of COVID-19 in certain cities in
China and adoption of new operating strategy which gave higher
subsidies to end users.
- Sales of equipment and maintenance
services revenues were RMB59.1 million (US$8.8
million), from Wuhan Miracle Laser Systems, Inc. (“Wuhan
Miracle”).
Cost of Revenues
Cost of revenues were RMB104.5 million (US$15.6 million), an
increase of 77.7% from RMB58.8 million in the second quarter of
2021. The increase was primarily due to the consolidation of Wuhan
Miracle. Cost of revenues included share-based compensation
expenses of RMB2.7 million (US$0.4 million) during the second
quarter of 2022, compared with RMB3.8 million in the corresponding
period of 2021.
Operating Expenses
Total operating expenses were RMB246.6 million (US$36.8
million), a decrease of 26.5% from RMB335.4 million in the second
quarter of 2021.
- Sales and marketing expenses were
RMB121.7 million (US$18.2 million), a decrease of 41.1% from
RMB206.7 million in the second quarter of 2021. The decrease was
primarily due to a decrease in expenses associated with
branding and user acquisition activities. Sales and marketing
expenses for the second quarter of 2022 included share-based
compensation expenses of RMB2.2 million (US$0.3 million), compared
with RMB1.6 million in the corresponding period of 2021.
- General and administrative expenses were
RMB61.8 million (US$9.2 million), an increase of 9.4% from RMB56.5
million in the second quarter of 2021. The increase was primarily
due to the consolidation of Wuhan Miracle and the increase of
professional services fee. General and administrative expenses for
the second quarter of 2022 included share-based compensation
expenses of RMB2.2 million (US$0.3 million), compared with RMB7.2
million in the corresponding period of 2021.
- Research and development expenses were
RMB63.1 million (US$9.4 million), a decrease of 12.5% from RMB72.1
million in the second quarter of 2021. The decrease was primarily
attributable to a decrease in payroll costs associated with the
employee headcount. Research and development expenses for the
second quarter of 2022 included share-based compensation expenses
of RMB2.5 million (US$0.4 million), compared with RMB3.6 million in
the corresponding period of 2021.
Income tax (expenses)/benefit
Income tax benefit was RMB0.1 million (US$0.0 million), compared
with income tax expenses of RMB11.1 million in the same period of
2021.
Net income/(loss) attributable to So-Young International
Inc.
Net loss attributable to So-Young International Inc. was RMB32.3
million (US$4.8 million), compared with a net income attributable
to So-Young International Inc. of RMB57.6 million in the second
quarter of 2021.
Non-GAAP Net income/(loss) attributable to So-Young
International Inc.
Non-GAAP net loss attributable to So-Young International Inc.,
which excludes the impact of share-based compensation expenses, was
RMB22.7 million (US$3.4 million), compared with RMB73.7 million
non-GAAP net income attributable to So-Young International Inc. in
the same period of 2021.
Basic and Diluted Earnings/(loss) per ADS
Basic and diluted loss per ADS attributable to ordinary
shareholders were RMB0.30 (US$0.04) and RMB0.30 (US$0.04),
respectively, compared with basic and diluted earnings per ADS
attributable to ordinary shareholders of RMB0.54 and RMB0.53,
respectively, in the same period of 2021.
Cash and Cash Equivalents, Restricted Cash and Term
Deposits, Term Deposits and Short-Term Investments
As of June 30, 2022, cash and cash equivalents, restricted cash
and term deposits, term deposits and short-term investments were
RMB1,598.9 million (US$238.7 million), compared with
RMB1,756.0 million as of December 31, 2021.
Business Outlook
For the third quarter of 2022, So-Young expects
total revenues to be between RMB310 million (US$46.3 million) and
RMB330 million (US$49.3 million), representing a 28.1% to 23.5%
decrease from the same period in 2021. 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 subjected to change, particularly
in view of the potential impact of the COVID-19, the effects of
which are difficult to analyze and predict.
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
(loss)/income from operations and non-GAAP net (loss)/income
attributable to So-Young International Inc. by excluding
share-based compensation expenses from (loss)/income from
operations and net (loss)/income 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. This is 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
InformationSo-Young’s management will hold an earnings
conference call on Tuesday, August 16, 2022, at 7:30 AM U.S.
Eastern Time (7:30 PM on the same day, Beijing/Hong Kong Time).
Participants can register for the conference call by navigating
to https://s1.c-conf.com/DiamondPass/10024340-hd864t.html.
Once preregistration has been completed, participants will
receive dial-in numbers, an event passcode, and a unique registrant
ID.
To join the conference, please dial the number you receive,
enter the event passcode followed by your unique registrant ID, and
you will be joined to the conference instantly.
A telephone replay will be available two hours after the
conclusion of the conference call until midnight U.S. Eastern Time,
August 23, 2022. The dial-in details are:
International: |
+61 7 3107 6325 |
US: |
+1855 883 1031 |
Passcode: |
10024340 |
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) (“So-Young”
or the “Company”) 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 StatementThis
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 fourth 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; the impact of the
COVID-19 pandemic to So-Young’s business operations and the economy
in China and elsewhere generally; 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 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
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, |
2021 |
2022 |
2022 |
|
RMB |
|
RMB |
|
US$ |
Assets |
|
|
|
|
|
Current assets: |
|
|
|
|
|
Cash and cash equivalents |
1,331,968 |
|
1,471,756 |
|
219,727 |
Restricted cash and term
deposits |
15,119 |
|
16,504 |
|
2,464 |
Trade receivables |
54,829 |
|
40,686 |
|
6,074 |
Inventories, net |
91,812 |
|
94,614 |
|
14,125 |
Receivables from online
payment platforms |
18,864 |
|
15,760 |
|
2,353 |
Amounts due from related
parties |
14,038 |
|
28,502 |
|
4,255 |
Term deposits and short-term
investments |
408,946 |
|
110,592 |
|
16,511 |
Prepayment and other current
assets |
91,842 |
|
127,079 |
|
18,972 |
Total current
assets |
2,027,418 |
|
1,905,493 |
|
284,481 |
Non-current assets: |
|
|
|
|
|
Long-term investments |
252,500 |
|
250,988 |
|
37,472 |
Intangible assets |
193,955 |
|
181,881 |
|
27,154 |
Goodwill |
540,693 |
|
540,693 |
|
80,723 |
Property and equipment,
net |
124,576 |
|
120,433 |
|
17,980 |
Deferred tax assets |
47,520 |
|
47,882 |
|
7,149 |
Operating lease right-of-use
assets |
95,609 |
|
82,667 |
|
12,342 |
Other non-current assets |
48,097 |
|
105,828 |
|
15,800 |
Total non-current
assets |
1,302,950 |
|
1,330,372 |
|
198,620 |
Total
assets |
3,330,368 |
|
3,235,865 |
|
483,101 |
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
Taxes payable |
48,571 |
|
51,866 |
|
7,743 |
Contract liabilities |
139,155 |
|
127,415 |
|
19,023 |
Salary and welfare
payables |
103,624 |
|
75,268 |
|
11,237 |
Amounts due to related
parties |
681 |
|
47 |
|
7 |
Accrued expenses and other
current liabilities |
376,841 |
|
354,381 |
|
52,906 |
Operating lease
liabilities-current |
43,529 |
|
52,341 |
|
7,814 |
Total current
liabilities |
712,401 |
|
661,318 |
|
98,730 |
Non-current liabilities: |
|
|
|
|
|
Operating lease
liabilities-non current |
62,356 |
|
42,735 |
|
6,380 |
Deferred tax liabilities |
38,577 |
|
35,478 |
|
5,297 |
Total non-current
liabilities |
100,933 |
|
78,213 |
|
11,677 |
Total
liabilities |
813,334 |
|
739,531 |
|
110,407 |
|
|
|
|
|
|
SO-YOUNG INTERNATIONAL INC. |
UNAUDITED CONDENSED CONSOLIDATED BALANCE
SHEETS (Continued) |
(Amounts in thousands, except for share and per share
data) |
|
Shareholders’
equity: |
|
|
|
|
|
Treasury stock |
(217,712 |
) |
|
(217,712 |
) |
|
(32,504 |
) |
Class A Ordinary shares
(US$ 0.0005 par value; 750,000,000 shares authorized as of December
31, 2021 and June 30, 2022; 71,736,059 and 69,092,367 shares issued
and outstanding as of December 31, 2021, 72,060,295 and 69,416,603
shares issued and outstanding as of June 30, 2022,
respectively) |
230 |
|
|
232 |
|
|
34 |
|
Class B Ordinary shares
(US$ 0.0005 par value; 20,000,000 shares authorized as of
December 31, 2021 and June 30, 2022; 12,000,000 shares issued
and outstanding as of December 31, 2021 and June 30,
2022) |
37 |
|
|
37 |
|
|
6 |
|
Additional paid-in
capital |
2,999,562 |
|
|
3,028,134 |
|
|
452,089 |
|
Statutory reserves |
20,331 |
|
|
20,331 |
|
|
3,035 |
|
Accumulated deficit |
(272,368 |
) |
|
(371,505 |
) |
|
(55,464 |
) |
Accumulated other
comprehensive loss |
(83,891 |
) |
|
(33,505 |
) |
|
(5,002 |
) |
Total So-Young
International Inc. shareholders’ equity |
2,446,189 |
|
|
2,426,012 |
|
|
362,194 |
|
|
|
|
|
|
|
Non-controlling interests |
70,845 |
|
|
70,322 |
|
|
10,500 |
|
|
|
|
|
|
|
Total shareholders’
equity |
2,517,034 |
|
|
2,496,334 |
|
|
372,694 |
|
|
|
|
|
|
|
Total liabilities and
shareholders’ equity |
3,330,368 |
|
|
3,235,865 |
|
|
483,101 |
|
|
|
|
|
|
|
|
|
|
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 30,2021 |
|
June 30,2022 |
|
June 30,2022 |
|
June 30,2021 |
|
June 30,2022 |
|
June 30,2022 |
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
|
|
|
|
|
|
|
|
|
|
|
|
Revenues |
|
|
|
|
|
|
|
|
|
|
|
Information services and others |
360,714 |
|
|
219,343 |
|
|
32,747 |
|
|
638,547 |
|
|
418,874 |
|
|
62,536 |
|
Reservation services |
91,131 |
|
|
30,616 |
|
|
4,571 |
|
|
172,943 |
|
|
72,969 |
|
|
10,894 |
|
Sales of equipment and
maintenance services |
- |
|
|
59,120 |
|
|
8,827 |
|
|
- |
|
|
117,582 |
|
|
17,555 |
|
Total
revenues |
451,845 |
|
|
309,079 |
|
|
46,145 |
|
|
811,490 |
|
|
609,425 |
|
|
90,985 |
|
Cost of revenues |
(58,807 |
) |
|
(104,479 |
) |
|
(15,598 |
) |
|
(111,161 |
) |
|
(211,062 |
) |
|
(31,511 |
) |
Gross
profit |
393,038 |
|
|
204,600 |
|
|
30,547 |
|
|
700,329 |
|
|
398,363 |
|
|
59,474 |
|
Operating
expenses: |
|
|
|
|
|
|
|
|
|
|
|
Sales and marketing
expenses |
(206,730 |
) |
|
(121,740 |
) |
|
(18,175 |
) |
|
(449,088 |
) |
|
(248,953 |
) |
|
(37,169 |
) |
General and administrative
expenses |
(56,494 |
) |
|
(61,794 |
) |
|
(9,226 |
) |
|
(111,671 |
) |
|
(127,186 |
) |
|
(18,988 |
) |
Research and development
expenses |
(72,132 |
) |
|
(63,089 |
) |
|
(9,419 |
) |
|
(141,935 |
) |
|
(142,023 |
) |
|
(21,203 |
) |
Total operating
expenses |
(335,356 |
) |
|
(246,623 |
) |
|
(36,820 |
) |
|
(702,694 |
) |
|
(518,162 |
) |
|
(77,360 |
) |
Income/(loss) from
operations |
57,682 |
|
|
(42,023 |
) |
|
(6,273 |
) |
|
(2,365 |
) |
|
(119,799 |
) |
|
(17,886 |
) |
Other
income/(expenses): |
|
|
|
|
|
|
|
|
|
|
|
Investment income |
3,064 |
|
|
1,068 |
|
|
159 |
|
|
5,732 |
|
|
3,504 |
|
|
523 |
|
Interest income |
4,771 |
|
|
5,347 |
|
|
798 |
|
|
10,771 |
|
|
8,546 |
|
|
1,276 |
|
Exchange gains/(losses) |
358 |
|
|
(600 |
) |
|
(90 |
) |
|
(4,353 |
) |
|
(539 |
) |
|
(80 |
) |
Share of income/(losses) of
equity method investee |
54 |
|
|
(833 |
) |
|
(124 |
) |
|
133 |
|
|
(1,902 |
) |
|
(284 |
) |
Others, net |
1,499 |
|
|
4,425 |
|
|
661 |
|
|
6,904 |
|
|
8,381 |
|
|
1,251 |
|
Income/(Loss) before
tax |
67,428 |
|
|
(32,616 |
) |
|
(4,869 |
) |
|
16,822 |
|
|
(101,809 |
) |
|
(15,200 |
) |
Income tax
(expenses)/benefit |
(11,122 |
) |
|
55 |
|
|
8 |
|
|
(6,788 |
) |
|
2,056 |
|
|
307 |
|
Net
income/(loss) |
56,306 |
|
|
(32,561 |
) |
|
(4,861 |
) |
|
10,034 |
|
|
(99,753 |
) |
|
(14,893 |
) |
Net loss attributable to
noncontrolling interests |
1,288 |
|
|
265 |
|
|
40 |
|
|
2,563 |
|
|
616 |
|
|
92 |
|
Net income/(loss)
attributable to So-Young International Inc. |
57,594 |
|
|
(32,296 |
) |
|
(4,821 |
) |
|
12,597 |
|
|
(99,137 |
) |
|
(14,801 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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, 2021 |
|
June 30, 2022 |
|
June 30, 2022 |
|
June 30, 2021 |
|
June 30, 2022 |
|
June 30, 2022 |
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
|
|
|
|
|
|
|
|
|
|
|
|
Net income/(loss) per ordinary share |
|
|
|
|
|
|
|
|
|
|
|
Net earnings/(loss) per ordinary share attributable to ordinary
shareholder - basic |
0.70 |
|
|
(0.39 |
) |
|
(0.06 |
) |
|
0.15 |
|
|
(1.20 |
) |
|
(0.18 |
) |
Net earnings/(loss) per
ordinary share attributable to ordinary shareholder - diluted |
0.69 |
|
|
(0.39 |
) |
|
(0.06 |
) |
|
0.15 |
|
|
(1.20 |
) |
|
(0.18 |
) |
Net earnings/(loss) per ADS
attributable to ordinary shareholders - basic (13 ADS represents 10
Class A ordinary shares) |
0.54 |
|
|
(0.30 |
) |
|
(0.04 |
) |
|
0.12 |
|
|
(0.92 |
) |
|
(0.14 |
) |
Net earnings/(loss) per ADS
attributable to ordinary shareholders - diluted (13 ADS represents
10 Class A ordinary shares) |
0.53 |
|
|
(0.30 |
) |
|
(0.04 |
) |
|
0.12 |
|
|
(0.92 |
) |
|
(0.14 |
) |
Weighted average number of
ordinary shares used in computing earnings/(loss) per share,
basic* |
82,403,282 |
|
|
82,709,017 |
|
|
82,709,017 |
|
|
82,260,972 |
|
|
82,394,496 |
|
|
82,394,496 |
|
Weighted average number of
ordinary shares used in computing earnings/(loss) per share,
diluted* |
83,023,318 |
|
|
82,709,017 |
|
|
82,709,017 |
|
|
83,695,653 |
|
|
82,394,496 |
|
|
82,394,496 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
compensation expenses included in: |
|
|
|
|
|
|
|
|
|
|
|
Cost of revenues |
(3,791 |
) |
|
(2,662 |
) |
|
(397 |
) |
|
(8,124 |
) |
|
(5,296 |
) |
|
(791 |
) |
Sales and marketing
expenses |
(1,550 |
) |
|
(2,236 |
) |
|
(334 |
) |
|
(3,844 |
) |
|
(5,672 |
) |
|
(847 |
) |
General and administrative
expenses |
(7,246 |
) |
|
(2,249 |
) |
|
(336 |
) |
|
(14,414 |
) |
|
(10,163 |
) |
|
(1,517 |
) |
Research and development
expenses |
(3,564 |
) |
|
(2,478 |
) |
|
(370 |
) |
|
(8,680 |
) |
|
(7,070 |
) |
|
(1,056 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* 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 30,2021 |
|
June 30,2022 |
|
June 30,2022 |
|
June 30,2021 |
|
June 30,2022 |
|
June 30,2022 |
|
RMB |
|
RMB |
|
US$ |
|
RMB |
|
RMB |
|
US$ |
|
|
|
|
|
|
|
|
|
|
|
|
GAAP Income/(loss) from operations |
57,682 |
|
(42,023 |
) |
|
(6,273 |
) |
|
(2,365 |
) |
|
(119,799 |
) |
|
(17,886 |
) |
Add back: Share-based
compensation expenses |
16,151 |
|
9,625 |
|
|
1,437 |
|
|
35,062 |
|
|
28,201 |
|
|
4,211 |
|
Non-GAAP Income/(loss) from operations |
73,833 |
|
(32,398 |
) |
|
(4,836 |
) |
|
32,697 |
|
|
(91,598 |
) |
|
(13,675 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP Net income/(loss) attributable
to So-Young International Inc. |
57,594 |
|
(32,296 |
) |
|
(4,821 |
) |
|
12,597 |
|
|
(99,137 |
) |
|
(14,801 |
) |
Add back: Share-based
compensation expenses |
16,151 |
|
9,625 |
|
|
1,437 |
|
|
35,062 |
|
|
28,201 |
|
|
4,211 |
|
Non-GAAP Net income/(loss)
attributable to So-Young International Inc. |
73,745 |
|
(22,671 |
) |
|
(3,384 |
) |
|
47,659 |
|
|
(70,936 |
) |
|
(10,590 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______________________
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 RMB6.6981 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 30, 2022.
2 Non-GAAP net loss attributable to So-Young International Inc.
is defined as net loss attributable to So-Young International Inc.
excluding share-based compensation expenses. See “Reconciliation of
GAAP and Non-GAAP Results” at the end of this press release.
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