Yang Li's questions to So-Young International Inc (SY) leadership • Q4 2024
Question
Yang Li from Haitong Securities asked about the company's operational strategies for its aesthetic centers at different development stages and questioned the sustainability of the centers' growth.
Answer
CEO Xing Jin detailed a multi-phase strategy: the 'ramp-up' phase (first 3 months) focuses on brand awareness; the 'growth' phase (months 4-12) shifts to operational efficiency and retention; and the 'maturity' phase (post-12 months) emphasizes long-term customer lifecycle management. Mr. Jin affirmed the growth is sustainable, citing the low penetration of chain clinics in China and contrasting So-Young's scalable, standardized 'fast food' model against the traditional, doctor-dependent 'restaurant model', which reduces risk and allows for rapid expansion.