So-Young International (SY) Company Report

Analyst Coverage

Research analysts who have asked questions during So-Young International earnings calls.

Nelson Cheung

Citi

3 questions for SY

Also covers: HUYA, PGRU

Daisy Chen

Haitong International

2 questions for SY

Also covers: ZH

Harry Zhao

Deutsche Bank

2 questions for SY

Also covers: API

Jenny Xu

CICC

2 questions for SY

Fuk Lung Cheung

China Renaissance

1 question for SY

Also covers: DOYU, HUYA

Hai Jingpeng

Citic Securities

1 question for SY

James Jiang Huang

Hofu Securities

1 question for SY

James Wang

GS Securities

1 question for SY

Jim Tang

CITIC Securities

1 question for SY

Lucy Zhao

Penghua Funds

1 question for SY

Pei Jinping

SIG Securities

1 question for SY

Stacy Chen

Haitong International

1 question for SY

Stacy Lee

Stifel

1 question for SY

Also covers: EVFM

Yang Li

Haitong Securities

1 question for SY

Yiping Li

Haitong International

1 question for SY

Latest news

Recent press releases and 8-K filings for SY.

So-Young Reports Q3 2025 Results with Strong Aesthetic Center Business Growth

Earnings

Guidance Update

New Projects/Investments

So-Young reported total revenue of RMB 386.7 million in Q3 2025, marking a 4% year-over-year increase, primarily driven by its branded aesthetic center business.
Revenue from the aesthetic center business reached RMB 183.6 million, demonstrating a 304.6% year-over-year growth and exceeding the high end of guidance.
The company recorded a net loss attributable to So-Young International of RMB 64.3 million for Q3 2025.
As of September 30, 2025, So-Young Clinic operated 39 centers, with 20 centers achieving center-level profitability and 29 centers generating positive operating cash flow. The company aims to reach 50 centers by year-end 2025 and plans to open not less than 35 new centers in 2026.
For Q4 2025, aesthetic treatment services revenues are projected to be between RMB 216 million and RMB 226 million, representing a 165.8%-178.1% year-over-year increase.

Nov 17, 2025, 12:00 PM

Transcript

SY Reports Q3 2025 Results with Strong Aesthetic Services Growth

Earnings

Revenue Acceleration/Inflection

Guidance Update

Total revenue for Q3 2025 was RMB 386.7 million, an increase of 4% year-over-year.
Aesthetic treatment services revenue reached RMB 183.6 million, surging 304.6% year-over-year and 26% quarter-to-quarter, primarily driven by the expansion of branded aesthetic centers.
The company reported a net loss attributable to So-Young International of RMB 64.3 million in Q3 2025, compared to a net income of RMB 20.3 million in the same period of 2024.
As of September 30, 2025, So-Young Clinic operated 39 centers across 10 cities, with 20 centers achieving center-level profitability in Q3. The company is on track to reach 50 centers by year-end.
For Q4 2025, the company expects aesthetic treatment services revenues to be between RMB 216 million and RMB 226 million, representing a 165.8%-178.1% increase from Q4 2024.

Nov 17, 2025, 12:00 PM

Transcript

So-Young International Inc. Reports Q3 2025 Financial Results

Earnings

Guidance Update

Revenue Acceleration/Inflection

So-Young International Inc. reported total revenues of RMB386.7 million (US$54.3 million) for the third quarter ended September 30, 2025, an increase from RMB371.8 million in the corresponding period of 2024.
The company experienced a net loss attributable to So-Young International Inc. of RMB64.3 million (US$9.0 million) in Q3 2025, compared to a net income of RMB20.3 million in the same period of 2024.
Aesthetic treatment services revenues saw a substantial increase of 304.6% to RMB183.6 million (US$25.8 million) in Q3 2025, up from RMB45.4 million in Q3 2024.
Operational highlights for Q3 2025 include over 89,800 verified treatment visits and more than 130,000 active users for the 12-month period ended September 30, 2025.
For the fourth quarter of 2025, So-Young anticipates aesthetic treatment services revenues to range between RMB216.0 million (US$30.3 million) and RMB226.0 million (US$31.7 million).

Nov 17, 2025, 11:17 AM

6-K

So-Young Reports Third Quarter 2025 Financial Results

Earnings

Guidance Update

Revenue Acceleration/Inflection

So-Young International Inc. reported total revenues of RMB386.7 million (US$54.3 million) for the third quarter ended September 30, 2025, an increase from RMB371.8 million in the corresponding period of 2024.
The company recorded a net loss attributable to So-Young International Inc. of RMB64.3 million (US$9.0 million) for Q3 2025, compared to a net income of RMB20.3 million in the same period of 2024.
Aesthetic treatment services revenues significantly increased by 304.6% to RMB183.6 million (US$25.8 million) in Q3 2025, compared to RMB45.4 million in the corresponding period of 2024.
Operational highlights for Q3 2025 include over 89,800 verified treatment visits and active users exceeding 130,000, both showing substantial growth compared to Q3 2024.
For the fourth quarter of 2025, So-Young expects aesthetic treatment services revenues to be between RMB216.0 million and RMB226.0 million, representing a 165.8% to 178.1% increase from the same period in 2024.