BEIJING, Nov. 18,
2022 /PRNewswire/ -- 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 third quarter ended September 30,
2022.
Third Quarter 2022 Financial
Highlights
- Total revenues were RMB323.3
million (US$45.5
million[1]), compared to RMB431.5 million in the corresponding period of
2021, in line with our previous guidance.
- Net income attributable to So-Young International Inc. was
RMB2.3 million (US$0.3 million), compared with net income
attributable to So-Young International Inc. of RMB6.8 million in the same period of
2021.
- Non-GAAP net income attributable to So-Young International
Inc.[2] was RMB9.9 million (US$1.4 million), compared with non-GAAP net
income attributable to So-Young International Inc. of
RMB28.9 million in the same
period of 2021.
Third Quarter 2022 Operational Highlights
- Average mobile MAUs were 3.9 million, compared with 8.0
million in the third quarter of 2021.
- Number of paying medical service providers on So-Young's
platform was 6,199, an increase of 28.1% from 4,841 in the
third quarter of 2021.
- Number of medical service providers subscribing to information
services on So-Young's platform was 1,704, compared with
2,242 in the third quarter of 2021.
- Total number of purchasing users through reservation services
was 136.7 thousand and the aggregate value of medical aesthetic
treatment transactions facilitated by So-Young's platform was
RMB363.7 million.
Recent Development
On November 18,
2022, the board of directors of the Company authorized a
share repurchase program under which the Company is authorized to
repurchase up to an aggregate value of US$15
million of its shares (including in the form of ADS) during
the 12-month period beginning from November
18, 2022.
The Company's proposed repurchases may
be effected from time to time in the open market at prevailing
market prices, in privately negotiated transactions, in block
trades and/or through other legally permissible means, depending on
market conditions and in accordance with applicable rules and
regulations. The Company's board of directors will review the share
repurchase program periodically, and may authorize adjustment of
its terms and size. The Company expects to fund the repurchases out
of its cash balance.
Mr. Xing Jin, Co-Founder and
Chief Executive Officer of So-Young, commented, "In the third
quarter, we were pleased to see encouraging signs from our business
despite what remained a challenging operating environment
largely caused by COVID-19 outbreaks in many regions of
China. Total revenues reached
RMB323.3 million, an increase of 4.6%
quarter over quarter, in line with our previous guidance. We
continued to expand our cooperation with medical institutions by
providing diversified services. The number of paying medical
service providers on So-Young's platform increased 28.1%
year-over-year to 6,199. Going forward, we are committed to having
a healthy growth strategy and improving user service quality to
reaffirm our leadership position."
Mr. Jin continued, "We narrowed our operating loss by 82.5%
quarter-over-quarter and the non-GAAP net income attributable to
the Company reached RMB9.9 million,
benefiting from optimized cost structure, with sales and marketing
expenses decreasing by about 34.6% from a year
ago. Looking ahead, with abundant cash on hand and a healthy
cash reserve, we remain optimistic about the growth potential of
the Chinese medical aesthetics industry and confident in our
ability to overcome short-term difficulties and build the most
trusted medical aesthetic services platform."
[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 RMB7.1135 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
September 30, 2022.
[2] Non-GAAP net income attributable to
So-Young International Inc. is defined as net income 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.
|
Third Quarter 2022 Financial
Results
Revenues
Total revenues were RMB323.3
million (US$45.5 million), a
decrease of 25.1% from RMB431.5
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 remained under pressure from China's overall domestic consumer market.
- Information services and other revenues were
RMB235.7 million (US$33.1 million), a decrease of 26.7% from
RMB321.6 million in the same period
of 2021. The decrease was primarily due to a decrease in the number
of paying medical service providers subscribing to information
services.
- Reservation services revenues were RMB29.7 million (US$4.2
million), a decrease of 51.8% from RMB61.7 million in the same period of 2021. The
decrease was primarily due to the impact of the resurgence of
COVID-19 in China and adoption of
an operating strategy which gave higher subsidies to end users.
- Sales of equipment and maintenance
services revenues were RMB57.8
million (US$8.1 million) and
RMB48.1 million in the third quarter
of 2022 and 2021, respectively, from Wuhan Miracle Laser
Systems, Inc. ("Wuhan Miracle").
Cost of Revenues
Cost of revenues was RMB94.0
million (US$13.2 million), an
increase of 4.9% from RMB89.6 million
in the third quarter of 2021. The increase was primarily due to the
consolidation of Wuhan Miracle. Cost of revenues included
share-based compensation expenses of RMB2.0
million (US$0.3 million),
compared with RMB4.8 million in the
corresponding period of 2021.
Operating Expenses
Total operating expenses were RMB236.6
million (US$33.3 million), a
decrease of 26.6% from RMB322.5
million in the third quarter of 2021.
- Sales and marketing expenses were RMB124.8 million (US$17.5
million), a decrease of 34.6% from RMB190.7 million in the third quarter of 2021.
The decrease was primarily due to a decrease in expenses
associated with branding and user acquisition activities. Sales and
marketing expenses included share-based compensation expenses of
RMB0.7 million (US$0.1 million), compared with RMB2.2 million in the corresponding period of
2021.
- General and administrative expenses were
RMB59.8 million (US$8.4 million), an increase of 9.4% from
RMB54.7 million in the third quarter
of 2021. The increase was primarily due to an increase in payroll
costs and professional services fees. General and administrative
expenses included share-based compensation expenses of RMB4.5 million (US$0.6
million), compared with RMB10.0
million in the corresponding period of 2021.
- Research and development expenses were RMB52.0 million (US$7.3
million), a decrease of 32.6% from RMB77.1 million in the third quarter of 2021. The
decrease was primarily attributable to a decrease in payroll
costs. Research and development expenses included share-based
compensation expenses of RMB0.4
million (US$0.1 million),
compared with RMB5.1 million in the
corresponding period of 2021.
Income tax (expenses)/benefits
Income tax benefits were RMB16.5
million (US$2.3 million),
compared with income tax expenses of RMB4.3
million in the same period of 2021. The increase in income
tax benefits was primarily due to the refund of income tax of
RMB12.6 million in the third quarter
of 2022 based on the final 2021 tax return filing result.
Net income/(loss) attributable to So-Young International
Inc.
Net income attributable to So-Young International Inc. was
RMB2.3 million (US$0.3 million), compared with a net income
attributable to So-Young International Inc. of RMB6.8 million in the third quarter of 2021.
Non-GAAP net income/(loss) 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, was
RMB9.9 million (US$1.4 million), compared with RMB28.9 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 earnings per ADS attributable to ordinary
shareholders were RMB0.02
(US$0.00) and RMB0.02 (US$0.00),
respectively, compared with basic and diluted earnings per ADS
attributable to ordinary shareholders of RMB0.06 and RMB0.06, respectively, in the same period of
2021.
Cash and Cash Equivalents, Restricted Cash and Term
Deposits, Term Deposits and Short-Term Investments
As of September 30, 2022, cash and
cash equivalents, restricted cash and term deposits, term deposits
and short-term investments were RMB1,640.3
million (US$230.6 million),
compared with RMB1,756.0 million
as of December 31, 2021.
Business Outlook
For the fourth quarter of 2022, So-Young expects total revenues
to be between RMB310 million
(US$43.6 million) and RMB330 million (US$46.4
million), representing a 31.0% to 26.6% 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 subject 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 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.
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 Information
So-Young's management will hold an earnings conference call on
Friday, November 18, 2022, at
7:00 AM U.S. Eastern Time
(8:00 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
|
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,
November 25, 2022. The dial-in
details are:
International: +1-412-317-0088
|
US:
+1-877-344-7529
|
Passcode:
1723328
|
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 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 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 Relations
Ms. Vivian Xu
Phone: +86-10-8790-2012
E-mail: ir@soyoung.com
Christensen
In China
Mr. Eric Yuan
Phone: +86-10-5900-1548
E-mail: eric.yuan@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,
|
|
September
30,
|
|
September
30,
|
2021
|
2022
|
2022
|
|
RMB
|
|
RMB
|
|
US$
|
Assets
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
Cash and cash
equivalents
|
1,331,968
|
|
713,646
|
|
100,323
|
Restricted cash and
term deposits
|
15,119
|
|
17,920
|
|
2,519
|
Trade
receivables
|
54,829
|
|
42,299
|
|
5,946
|
Inventories,
net
|
91,812
|
|
105,194
|
|
14,788
|
Receivables from online
payment
platforms
|
18,864
|
|
18,879
|
|
2,654
|
Amounts due from
related parties
|
14,038
|
|
28,758
|
|
4,043
|
Term deposits and
short-term investments
|
408,946
|
|
908,718
|
|
127,746
|
Prepayment and other
current assets
|
91,842
|
|
147,877
|
|
20,788
|
Total current
assets
|
2,027,418
|
|
1,983,291
|
|
278,807
|
Non-current
assets:
|
|
|
|
|
|
Long-term
investments
|
252,500
|
|
234,073
|
|
32,905
|
Intangible
assets
|
193,955
|
|
175,594
|
|
24,685
|
Goodwill
|
540,693
|
|
540,693
|
|
76,009
|
Property and equipment,
net
|
124,576
|
|
115,321
|
|
16,212
|
Deferred tax
assets
|
47,520
|
|
53,828
|
|
7,567
|
Operating lease
right-of-use assets
|
95,609
|
|
71,533
|
|
10,056
|
Other non-current
assets
|
48,097
|
|
142,756
|
|
20,068
|
Total non-current
assets
|
1,302,950
|
|
1,333,798
|
|
187,502
|
Total
assets
|
3,330,368
|
|
3,317,089
|
|
466,309
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
Taxes
payable
|
48,571
|
|
63,826
|
|
8,973
|
Contract
liabilities
|
139,155
|
|
134,271
|
|
18,876
|
Salary and welfare
payables
|
103,624
|
|
87,214
|
|
12,260
|
Amounts due to related
parties
|
681
|
|
185
|
|
26
|
Accrued expenses and
other current
liabilities
|
376,841
|
|
351,476
|
|
49,410
|
Operating lease
liabilities-current
|
43,529
|
|
49,831
|
|
7,005
|
Total current
liabilities
|
712,401
|
|
686,803
|
|
96,550
|
Non-current
liabilities:
|
|
|
|
|
|
Operating lease
liabilities-non current
|
62,356
|
|
32,685
|
|
4,595
|
Deferred tax
liabilities
|
38,577
|
|
33,145
|
|
4,659
|
Total non-current
liabilities
|
100,933
|
|
65,830
|
|
9,254
|
Total
liabilities
|
813,334
|
|
752,633
|
|
105,804
|
|
|
|
|
|
|
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)
|
|
(30,605)
|
|
Class A Ordinary
shares (US$ 0.0005 par value;
750,000,000 shares authorized as of December 31,
2021
and September 30, 2022; 71,736,059 and
69,092,367
shares issued and outstanding as of December 31,
2021,
72,128,429 and 69,484,737 shares issued and
outstanding
as of September 30, 2022, respectively)
|
230
|
|
232
|
|
32
|
|
Class B Ordinary
shares (US$ 0.0005 par value; 20,000,000
shares authorized as of December 31, 2021 and
September
30, 2022; 12,000,000 shares issued and outstanding as
of
December 31, 2021 and September 30, 2022)
|
37
|
|
37
|
|
5
|
|
Additional paid-in
capital
|
2,999,562
|
|
3,035,807
|
|
426,767
|
|
Statutory
reserves
|
20,331
|
|
20,587
|
|
2,894
|
|
Accumulated
deficit
|
(272,368)
|
|
(369,451)
|
|
(51,937)
|
|
Accumulated other
comprehensive (loss)/income
|
(83,891)
|
|
24,495
|
|
3,443
|
|
Total So-Young
International Inc. shareholders'
equity
|
2,446,189
|
|
2,493,995
|
|
350,599
|
|
|
|
|
|
|
|
|
Non-controlling
interests
|
70,845
|
|
70,461
|
|
9,906
|
|
|
|
|
|
|
|
|
Total shareholders'
equity
|
2,517,034
|
|
2,564,456
|
|
360,505
|
|
|
|
|
|
|
|
|
Total liabilities
and shareholders' equity
|
3,330,368
|
|
3,317,089
|
|
466,309
|
|
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 Nine Months
Ended
|
|
September
30, 2021
|
|
September
30, 2022
|
|
September
30, 2022
|
|
September
30, 2021
|
|
September
30, 2022
|
|
September
30, 2022
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
Information services
and others
|
321,593
|
|
235,723
|
|
33,138
|
|
960,140
|
|
654,597
|
|
92,021
|
|
Reservation
services
|
61,737
|
|
29,733
|
|
4,180
|
|
234,680
|
|
102,702
|
|
14,438
|
|
Sales of equipment and
maintenance services
|
48,120
|
|
57,847
|
|
8,132
|
|
48,120
|
|
175,429
|
|
24,662
|
|
Total
revenues
|
431,450
|
|
323,303
|
|
45,450
|
|
1,242,940
|
|
932,728
|
|
131,121
|
|
Cost of
revenues
|
(89,638)
|
|
(94,028)
|
|
(13,218)
|
|
(200,799)
|
|
(305,090)
|
|
(42,889)
|
|
Gross
profit
|
341,812
|
|
229,275
|
|
32,232
|
|
1,042,141
|
|
627,638
|
|
88,232
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and marketing
expenses
|
(190,740)
|
|
(124,781)
|
|
(17,541)
|
|
(639,828)
|
|
(373,734)
|
|
(52,541)
|
|
General and
administrative expenses
|
(54,691)
|
|
(59,847)
|
|
(8,413)
|
|
(166,362)
|
|
(187,033)
|
|
(26,293)
|
|
Research and
development expenses
|
(77,113)
|
|
(51,998)
|
|
(7,310)
|
|
(219,048)
|
|
(194,021)
|
|
(27,274)
|
|
Total operating
expenses
|
(322,544)
|
|
(236,626)
|
|
(33,264)
|
|
(1,025,238)
|
|
(754,788)
|
|
(106,108)
|
|
Income/(loss)
from operations
|
19,268
|
|
(7,351)
|
|
(1,032)
|
|
16,903
|
|
(127,150)
|
|
(17,876)
|
|
Other
income/(expenses):
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment
income
|
2,272
|
|
493
|
|
69
|
|
8,004
|
|
3,997
|
|
562
|
|
Interest
income
|
4,903
|
|
10,061
|
|
1,414
|
|
15,674
|
|
18,607
|
|
2,616
|
|
Exchange
(losses)/gains
|
(446)
|
|
24
|
|
3
|
|
(4,799)
|
|
(515)
|
|
(72)
|
|
Impairment of long-term
investment
|
(17,850)
|
|
(7,945)
|
|
(1,117)
|
|
(17,850)
|
|
(7,945)
|
|
(1,117)
|
|
Share of losses of
equity method investee
|
(909)
|
|
(9,106)
|
|
(1,280)
|
|
(776)
|
|
(11,008)
|
|
(1,547)
|
|
Others, net
|
2,932
|
|
(781)
|
|
(110)
|
|
9,836
|
|
7,600
|
|
1,068
|
|
Income/(loss) before
tax
|
10,170
|
|
(14,605)
|
|
(2,053)
|
|
26,992
|
|
(116,414)
|
|
(16,366)
|
|
Income tax
(expenses)/benefits
|
(4,298)
|
|
16,486
|
|
2,318
|
|
(11,086)
|
|
18,542
|
|
2,607
|
|
Net
income/(loss)
|
5,872
|
|
1,881
|
|
265
|
|
15,906
|
|
(97,872)
|
|
(13,759)
|
|
Net loss attributable
to noncontrolling interests
|
896
|
|
429
|
|
60
|
|
3,459
|
|
1,045
|
|
147
|
|
Net income/(loss)
attributable to So-Young International Inc.
|
6,768
|
|
2,310
|
|
325
|
|
19,365
|
|
(96,827)
|
|
(13,612)
|
|
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 Nine Months
Ended
|
|
September
30, 2021
|
|
September 30,
2022
|
|
September 30,
2022
|
|
September 30,
2021
|
|
September 30,
2022
|
|
September 30,
2022
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net earnings/(loss)
per ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
|
Net earnings/(loss) per
ordinary share attributable to ordinary shareholder -
basic
|
0.08
|
|
0.03
|
|
0.00
|
|
0.24
|
|
(1.17)
|
|
(0.16)
|
|
Net earnings/(loss) per
ordinary share attributable to ordinary shareholder -
diluted
|
0.08
|
|
0.03
|
|
0.00
|
|
0.23
|
|
(1.17)
|
|
(0.16)
|
|
Net earnings/(loss) per
ADS attributable to ordinary shareholders - basic (13
ADS represents 10 Class A ordinary shares)
|
0.06
|
|
0.02
|
|
0.00
|
|
0.18
|
|
(0.90)
|
|
(0.12)
|
|
Net earnings/(loss) per
ADS attributable to ordinary shareholders - diluted (13
ADS represents 10 Class A ordinary shares)
|
0.06
|
|
0.02
|
|
0.00
|
|
0.18
|
|
(0.90)
|
|
(0.12)
|
|
Weighted average number
of ordinary shares used in computing earnings/(loss)
per share, basic*
|
80,895,891
|
|
82,946,796
|
|
82,946,796
|
|
81,805,945
|
|
82,578,596
|
|
82,578,596
|
|
Weighted average number
of ordinary shares used in computing earnings/(loss)
per share, diluted*
|
81,471,931
|
|
83,027,281
|
|
83,027,281
|
|
82,954,414
|
|
82,578,596
|
|
82,578,596
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
compensation expenses included in:
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
(4,814)
|
|
(2,007)
|
|
(282)
|
|
(12,938)
|
|
(7,303)
|
|
(1,027)
|
|
Sales and
marketing expenses
|
(2,245)
|
|
(670)
|
|
(94)
|
|
(6,089)
|
|
(6,342)
|
|
(892)
|
|
General and
administrative expenses
|
(10,032)
|
|
(4,521)
|
|
(636)
|
|
(24,446)
|
|
(14,684)
|
|
(2,064)
|
|
Research and
development expenses
|
(5,083)
|
|
(428)
|
|
(60)
|
|
(13,763)
|
|
(7,498)
|
|
(1,054)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
*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 Nine Months
Ended
|
|
September
30, 2021
|
|
September
30, 2022
|
|
September
30, 2022
|
|
September
30, 2021
|
|
September
30, 2022
|
|
September
30, 2022
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP income/(loss) from
operations
|
19,268
|
|
(7,351)
|
|
(1,032)
|
|
16,903
|
|
(127,150)
|
|
(17,876)
|
|
Add back: Share-based
compensation expenses
|
22,174
|
|
7,626
|
|
1,072
|
|
57,236
|
|
35,827
|
|
5,037
|
|
Non-GAAP income/(loss) from
operations
|
41,442
|
|
275
|
|
40
|
|
74,139
|
|
(91,323)
|
|
(12,839)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP net
income/(loss) attributable to So-Young International
Inc.
|
6,768
|
|
2,310
|
|
325
|
|
19,365
|
|
(96,827)
|
|
(13,612)
|
|
Add back: Share-based
compensation expenses
|
22,174
|
|
7,626
|
|
1,072
|
|
57,236
|
|
35,827
|
|
5,037
|
|
Non-GAAP net
income/(loss) attributable to So-Young International
Inc.
|
28,942
|
|
9,936
|
|
1,397
|
|
76,601
|
|
(61,000)
|
|
(8,575)
|
|
View original
content:https://www.prnewswire.com/news-releases/so-young-reports-unaudited-third-quarter-2022-financial-results-301682584.html
SOURCE So-Young International Inc.