So-Young International Q3 Profit, Revenue Fall

(RTTNews) - So-Young International Inc. (SY), a Chinese online platform for medical aesthetic services, on Friday reported a decline in earnings for the third-quarter, amidst a fall in total revenues.

There has been a decrease in average revenue per paying medical service provider due to the resurgence of Covid-19 and pressure from China's overall domestic consumer market.

For the quarter ended on September 30, the firm posted net income of RMB2.3 million or RMB 0.03 per share, compared with RMB6.8 million or RMB0.08 per share, a year ago.

Earnings per ADS attributable to ordinary shareholders were at RMB0.02, lesser than RMB0.06 per ADS, in the same period of last year.

Excluding items, earnings were RMB9.9 million versus last year's RMB 28.9 million.

Pre-tax loss was reported at RMB 14.605 million, a reverse from profit of RMB 10.170 million, recorded for the same period of 2021.

The company registered a loss from operations of RMB 7.351 million, compared with a profit of RMB19.268 million of previous year quarter. Total revenues were at RMB323.3 million, lesser than RMB431.5 million in the corresponding period of 2021.

For the fourth quarter, So-Young expects total revenues of RMB310 million to RMB330 million, representing a 31 percent to 26.6 percent decrease from the last-year quarter.