Stacy Lee's questions to So-Young International Inc (SY) leadership • Q3 2024
Question
Stacy Lee asked about the strategic direction for the traditional POP (Platform-as-a-Service) business, noting its recent decline amid the company's expansion into physical clinics.
Answer
CEO Xing Jin, via an interpreter, affirmed that the POP business remains a critical component of their strategy, comparing it to JD.com's hybrid model of self-operated and third-party services. He explained that the new clinics are designed to become traffic drivers, which will in turn attract more third-party institutions to the platform. He also highlighted a shift to a performance-based service fee model and noted that institutional ROI and user conversion rates on the platform were already showing improvement.