BEIJING, Jan. 3, 2023
/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 that its board of directors
has authorized an adjustment to the Company's previously adopted
Share Repurchase Program, increasing the aggregate value of shares
(including in the form of ADS) that the Company is authorized to
repurchase under the program from US$15
million to US$25 million to
demonstrate the Company's confidence in its long-term prospects.
The Share Repurchase Program is effective for a 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.
About So-Young
So-Young 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
View original
content:https://www.prnewswire.com/news-releases/so-young-announces-upsizing-of-share-repurchase-program-to-us25-million-301712202.html
SOURCE So-Young International Inc.