So-Young Reports Adj. Profit In Q2; Total Revenues Up 33.3%

(RTTNews) - So-Young International Inc. (SY) posted a second-quarter net loss to So-Young of RMB 2.6 million compared with a net loss of RMB 32.3 million, previous year. Loss per ADS was RMB 0.02, compared with a loss per ADS of RMB 0.30, prior year. Non-GAAP net income attributable to So-Young was RMB 15.5 million compared with a loss of RMB 22.7 million.

Second-quarter total revenues were RMB 412.1 million, an increase of 33.3% from RMB 309.1 million, a year ago. The company said the increase was primarily due to the increase in average revenue per paying medical service provider and other revenues generated by So-Young Prime. Average mobile MAUs were 3.0 million, compared with 3.5 million, last year.

For the third quarter, So-Young expects total revenues to be between RMB 380.0 million and RMB 400.0 million, representing a 17.5% to 23.7% increase from the same period in 2022.

Hui Zhao, CFO of So-Young, said, "Our existing POP businesses continue to see the pace of recovery pick up pace which puts us in a position to confidently allocate resources towards new high-quality growth ventures such as So-Young Prime and our supply chain business. Our focus for the remainder of the year will be on accelerating our pursuit of new high-quality growth, refining operational strategies, enhancing customer acquisition channels, carefully managing costs, and consistently improving our financial performance."

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