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So-Young Reports Unaudited First Quarter 2025 Financial Results
SYSo-Young(SY) Prnewswire·2025-05-16 10:36

Core Viewpoint - So-Young International Inc. reported its first quarter 2025 financial results, highlighting a decrease in total revenues but significant growth in aesthetic treatment services, indicating a shift in business dynamics and ongoing strategic investments to support long-term growth [1][5][19]. Financial Highlights - Total revenues for Q1 2025 were RMB 297.3 million (US41.0million),adecreaseof6.6 41.0 million), a decrease of 6.6% from RMB 318.3 million in Q1 2024 [5][6]. - Net loss attributable to So-Young was RMB 33.1 million (US 4.6 million), compared to a net loss of RMB 21.2 million in the same period of 2024 [12][13]. - Non-GAAP net loss was RMB 31.5 million (US4.3million),asignificantdeclinefromanon−GAAPnetincomeofRMB4.1millioninQ12024[13][6].−TheaggregatevalueofmedicalaesthetictreatmenttransactionsfacilitatedbySo−Young′splatformwasRMB303.2million,downfromRMB367.1millioninQ12024[6].OperationalHighlights−Thenumberofverifiedpaidvisitsforthequarterreachedover45,500,comparedtoapproximately4,600inthesameperiodof2024[6].−Thenumberofverifiedpaidaesthetictreatmentsperformedsurpassed92,900,comparedtoapproximately8,500inQ12024[6].−AsofMarch31,2025,So−Youngoperated23aestheticcentersacrossninemajorcities,with18centersachievingpositivemonthlyoperatingcashflow[6].RevenueBreakdown−RevenuefromaesthetictreatmentserviceswasRMB98.8million(US 4.3 million), a significant decline from a non-GAAP net income of RMB 4.1 million in Q1 2024 [13][6]. - The aggregate value of medical aesthetic treatment transactions facilitated by So-Young's platform was RMB 303.2 million, down from RMB 367.1 million in Q1 2024 [6]. Operational Highlights - The number of verified paid visits for the quarter reached over 45,500, compared to approximately 4,600 in the same period of 2024 [6]. - The number of verified paid aesthetic treatments performed surpassed 92,900, compared to approximately 8,500 in Q1 2024 [6]. - As of March 31, 2025, So-Young operated 23 aesthetic centers across nine major cities, with 18 centers achieving positive monthly operating cash flow [6]. Revenue Breakdown - Revenue from aesthetic treatment services was RMB 98.8 million (US 13.6 million), an increase of 551.4% from RMB 15.2 million in Q1 2024 [16]. - Revenue from information, reservation services, and other sources was RMB 142.9 million (US19.7million),adecreaseof34.1 19.7 million), a decrease of 34.1% from RMB 216.6 million in Q1 2024 [5][16]. - Sales of medical products and maintenance services were RMB 55.6 million (US 7.7 million), a decrease of 35.7% from RMB 86.5 million in Q1 2024 [16]. Cost and Expenses - Cost of revenues was RMB 151.4 million (US20.9million),anincreaseof29.1 20.9 million), an increase of 29.1% from RMB 117.3 million in Q1 2024, primarily due to the expansion of branded aesthetic centers [7]. - Total operating expenses decreased by 20.4% to RMB 189.3 million (US 26.1 million) from RMB 237.8 million in Q1 2024 [10]. Business Outlook - For Q2 2025, So-Young expects aesthetic treatment services revenues to be between RMB 120.0 million (US16.5million)andRMB140.0million(US 16.5 million) and RMB 140.0 million (US 19.3 million), representing a 337.3% to 410.1% increase from the same period in 2024 [19].