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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.
