Welcome to our dedicated page for So-Young International American Depository Shares news (Ticker: SY), a resource for investors and traders seeking the latest updates and insights on So-Young International American Depository Shares stock.
So-Young International Inc. (symbol: SY) operates a leading online platform for medical aesthetics and elective healthcare services. Established in China, the company focuses on providing users with reliable information about medical aesthetic procedures. Through its platform, users can discover content, share personal experiences, and reserve treatment services from vetted medical aesthetic providers. This service is available not only in China but also internationally.
So-Young's business model includes four key components: distribution of professional content via social media and targeted media platforms, a vibrant social community rich in user-generated content, online reservation services for medical aesthetic treatments, and the research, development, and sales of medical beauty equipment. The company generates revenue through information service fees and reservation fees from its network of approximately 6,100 medical aesthetic service providers.
In addition to aesthetical treatments, So-Young facilitates user reservations for a broad range of medical services, including dermatology, dentistry, ophthalmology, gynecology, HPV vaccinations, and postnatal care.
Recent achievements include several strategic developments and new partnerships. For instance, in November 2023, So-Young reported strong financial results with a 19.2% increase in total revenues year-over-year to RMB385.3 million. In December 2023, the company announced a significant partnership with Healtech to develop regenerative medical aesthetic products, marking a major step in expanding their supply chain business.
Additionally, the leadership team has undergone recent changes to bolster expertise and drive growth. As of October 2023, the board appointed Ms. Nan Shen, a seasoned financial expert, as an independent director. This appointment aligns with So-Young's commitment to reinforcing internal growth and maintaining high standards of governance.
Financially, So-Young has demonstrated resilience despite macroeconomic challenges, achieving a net income of RMB18.3 million in the third quarter of 2023. The company maintains a strong cash position with RMB1,405.4 million in cash, cash equivalents, restricted cash, and short-term investments as of September 30, 2023.
Leveraging its strong brand image, extensive audience reach, and rich data insights, So-Young is well-positioned to expand both within the medical aesthetic industry and the broader consumption healthcare market. For investors, So-Young continues to stand out as a promising player in the fast-growing medical aesthetics sector.
So-Young International reported Q3 2024 financial results with total revenues of RMB371.8 million (US$53.0 million), down 3.5% year-over-year but exceeding guidance. Net income rose to RMB20.3 million (US$2.9 million), up from RMB18.3 million in Q3 2023. Sales of medical products grew 18.7% year-over-year, while information services revenue declined 8.0%. The company expanded its clinic network to 16 stores and improved operational efficiency, resulting in an 8.1% decrease in operating expenses. For Q4 2024, So-Young expects revenues between RMB350.0-370.0 million, representing a 5.3-10.4% year-over-year decrease.
So-Young International Inc. (NASDAQ: SY), China's largest medical aesthetics social community, has announced it will release its third quarter 2024 financial results on November 20, 2024, before U.S. markets open. The company will host an earnings conference call at 7:00 AM U.S. Eastern Time on the same day. A telephone replay will be available until November 27, 2024, and a webcast will be accessible through the company's investor relations website.
So-Young International Inc. (Nasdaq: SY), China's largest medical aesthetics social community, has received a notification from Nasdaq due to its American depositary shares (ADSs) closing bid price falling below $1.00 for 30 consecutive business days. This violates Nasdaq Listing Rule 5450(a)(1). The company has been given a 180-day compliance period until February 24, 2025, to regain compliance by maintaining a closing bid price of $1.00 or higher for at least ten consecutive business days. If unsuccessful, So-Young may be eligible for an additional 180-day period, subject to meeting other listing requirements. The company assures that this notice does not affect its current listing, trading, or business operations, and it will take all reasonable measures to regain compliance within the grace period.
So-Young International Inc. (Nasdaq: SY) reported its Q2 2024 financial results. Total revenues were RMB407.4 million (US$56.1 million), slightly down 1.1% year-over-year but exceeding guidance. The company achieved net income of RMB18.9 million (US$2.6 million), compared to a net loss in Q2 2023. Non-GAAP net income increased to RMB22.2 million (US$3.1 million).
Key highlights include a 22.6% increase in sales of medical products and maintenance services. The company opened 14 new clinics across eight core cities. However, average mobile MAUs decreased to 1.5 million from 3.0 million in Q2 2023. For Q3 2024, So-Young expects total revenues between RMB350.0 million and RMB370.0 million, representing a 9.2% to 4.0% year-over-year decrease.
So-Young International Inc. (NASDAQ: SY), China's largest social community for medical aesthetics, has announced it will report its Q2 2024 financial results on August 23, 2024, before U.S. markets open. The company will hold an earnings conference call at 7:30 AM U.S. Eastern Time (7:30 PM Beijing/Hong Kong Time) on the same day. Dial-in details for international, China, US, and Hong Kong participants are provided, along with a passcode. A telephone replay will be available until August 30, 2024. Additionally, a live and archived webcast of the conference call will be accessible at http://ir.soyoung.com.
So-Young International (Nasdaq: SY) reported financial results for Q1 2024. The company's total revenues increased to RMB318.3 million (US$44.1 million), a 2.6% rise year-over-year. However, the net loss rose to RMB21.2 million (US$2.9 million), compared to a net loss of RMB11.9 million in Q1 2023. Non-GAAP net income was RMB4.1 million (US$0.6 million), contrasting a non-GAAP net loss of RMB2.8 million the previous year.
Operational highlights include a drop in average mobile MAUs to 2.0 million from 3.4 million and a decrease in medical service providers on the platform to 1,160 from 1,419. Despite this, sales of medical products and maintenance services surged 23.3% to RMB86.5 million (US$12.0 million). The company also noted a significant increase in general and administrative expenses by 38.1%.
Looking forward, So-Young expects Q2 2024 revenues between RMB380.0 million (US$52.6 million) and RMB400.0 million (US$55.4 million), reflecting a potential year-over-year decrease.
So-Young International (NASDAQ: SY), a leading social community in China's medical aesthetics industry, announced it will report its Q1 2024 financial results on May 28, 2024. The announcement will be made before U.S. markets open. An earnings conference call is scheduled for the same day at 7:30 AM U.S. Eastern Time (7:30 PM Beijing/Hong Kong Time). Interested parties can dial in using provided international, U.S., China, and Hong Kong numbers. A replay will be available until June 4, 2024. A live and archived webcast will also be accessible at So-Young's investor relations website.
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