So-Young International Q1 Net Loss Widens; Sees Higher Revenues In Q2 - Quick Facts

(RTTNews) - Chinese online healthcare company So-Young International Inc. (SY) reported Wednesday that its first-quarter net loss was 46.3 million yuan or $7.1 million, wider than prior year's net loss of 35.9 million yuan.

Loss per ADS attributable to ordinary shareholders were 0.42 yuan or $0.06, compared to loss of 0.34 yuan last year.

Adjusted net loss was 27.4 million yuan or $4.2 million, compared to prior year's adjusted net loss of 21.6 million yuan.

Total revenues surged 97 percent to 359.6 million yuan or $54.9 million from 182.6 million yuan in the same period of 2020.

Looking ahead for the second quarter, So-Young expects total revenues to be between 430 million yuan or $65.6 million and 450 million yuan or $68.7 million, representing a 31.0% to 37.1% increase from the same period in 2020.

Min Yu, Chief Financial Officer of So-Young, said, "We are seeing significant progress from our strategy of providing more value-added support to medical professionals and merchants by improving accuracy of client acquisition and helping increase reliability of their services, as well as creating competitive differentiation. We are confident that this will lead to increased customer stickiness and more monetization opportunities going forward."