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Hai Jingpeng

Vice President and Senior Equity Analyst at Citic Securities

Hai Jingpeng is a Vice President and Senior Equity Analyst at CITIC Securities, specializing in technology and electronics sector research with a focus on leading publicly listed Chinese companies. He covers firms such as Luxshare Precision, Goertek, AAC Technologies, and Wingtech Technology, achieving a success rate consistently above 60% and earning high rankings among analysts on major financial platforms. Having begun his career in investment analysis in the early 2010s, Hai joined CITIC Securities in 2017 after previous roles at leading domestic brokerages. He holds the Chinese Securities Practitioner Qualification and other industry credentials, and has been recognized for top performance in institutional client surveys in recent years.

Hai Jingpeng's questions to So-Young International (SY) leadership

Question · Q3 2025

Hai Jingpeng asked about So-Young's clinic opening plans for the next year, including the regional strategy and the expected quarterly pace for new clinic establishments.

Answer

CEO Xing Jin, as translated by company representative Mona Qiao, stated that So-Young aims to reach 50 centers by the end of 2025, focusing on improving customer acquisition and user base growth. The company plans to open no less than 35 new centers next year, maintaining a balanced quarterly pace. The strategy prioritizes first-tier cities for strong demand and brand equity, while also establishing a presence in second-tier cities to validate the model for long-term expansion.

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