BEIJING, Aug. 21,
2023 /PRNewswire/ -- So-Young International Inc.
(Nasdaq: SY) ("So-Young" or the "Company"), the largest and most
vibrant social community in China
for consumers, professionals and service providers in the medical
aesthetics industry, today announced its unaudited financial
results for the second quarter ended June 30, 2023.
Second Quarter 2023 Financial
Highlights
- Total revenues were RMB412.1
million (US$56.8
million[1]), an increase of
33.3% from RMB309.1 million
in the same period of 2022, exceeding the high end of guidance.
- Net loss attributable to So-Young was RMB2.6 million (US$0.4
million), compared with net loss attributable to So-Young of
RMB32.3 million in the second quarter
of 2022.
- Non-GAAP net income attributable to
So-Young[2] was RMB15.5 million (US$2.1 million), compared with non-GAAP net
loss attributable to So-Young of RMB22.7 million in the same period of
2022.
Second Quarter 2023 Operational Highlights
- Average mobile MAUs were 3.0 million,
compared with 3.5 million in the second quarter of
2022.
- Number of medical service providers subscribing to information
services on So-Young's platform were 1,659, compared with 2,622 in
the second quarter of 2022.
- Total number of users purchasing were 161.0 thousand while the
aggregate value of medical aesthetic treatment transactions
facilitated by So-Young's platform was RMB493.9 million.
Mr. Xing Jin, Co-Founder and
Chief Executive Officer of So-Young, commented, "In the second
quarter, we continued to achieve growth momentum with total
revenues exceeding the upper range
of our guidance, increasing 33.3% year-over-year to RMB412.1 million. This also set a new quarterly
record high in revenue since the beginning of 2022, highlighting
the success we have had in adapting and retooling ourselves with
existing community e-commerce POP business growth and the
development of new revenue streams along the industry value chain.
Looking at our progress from this perspective, I believe our growth
trajectory is only just beginning. As we drive our strategic
transformation in the second half of 2023, we believe So-Young is
well positioned to serve the interests of more users,
professionals, and industry partners, underpinning our sustainable
business development."
Mr. Hui Zhao, Chief Financial
Officer of So-Young, added, "Profitability improved significantly
during the quarter. On a non-GAAP basis, we were profitable with
net income of RMB15.5 million,
compared to a loss of RMB22.7 million
in the same period last year. 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. We strongly believe these new ventures reflect the future
of the industry and the tremendous opportunities its long-term
growth with create. 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."
|
[1] This press release contains
translations of certain Renminbi (RMB) amounts into U.S. dollars
(US$) solely for the convenience of the reader. Unless
otherwise specified, all translations of Renminbi amounts into U.S.
dollar amounts in this press release are made at RMB7.2513 to
US$1.00, which was the U.S. dollars middle rate announced by the
Board of Governors of the Federal Reserve System of the United
States on June 30, 2023.
|
|
[2] Non-GAAP
net income/(loss) attributable to So-Young is defined as net
income/(loss) attributable to So-Young International Inc.
excluding share-based compensation expenses attributable to
So-Young International Inc. See "Reconciliation of GAAP
and Non-GAAP Results" at the end of this press release.
|
Second Quarter 2023 Financial
Results
Revenues
Total revenues were RMB412.1
million (US$56.8 million), an
increase of 33.3% from RMB309.1
million in the same period of 2022. The increase was
primarily due to the increase in average revenue per paying medical
service provider and other revenues generated by So-Young
Prime.
- Information services and other revenues were
RMB298.9 million (US$41.2 million), an increase of 40.2% from
RMB213.1 million in the same period
of 2022. The increase was primarily due to an increase in average
revenue per paying medical service provider and other revenues
generated by So-Young Prime.
- Reservation services revenues were RMB26.9 million (US$3.7
million), a decrease of 12.1% from RMB30.6 million in the same period of 2022. The
decrease was primarily due to the operating strategy which gave
higher subsidies to end users.
- Sales of medical products and maintenance
services[3] revenues were
RMB86.3 million (US$11.9 million), an increase of 32.0% from
RMB65.4 million in the same period of
2022, primarily due to an increase in sales of both equipment and
injectable drugs.
Cost of
Revenues[4]
Cost of revenues were RMB150.4
million (US$20.7 million), an
increase of 43.9% from RMB104.5
million in the second quarter of 2022. The increase was
primarily due to an increase in costs associated with So-Young
Prime and Wuhan Miracle. Cost of revenues included share-based
compensation expenses of RMB0.4
million (US$0.1 million)
during the second quarter of 2023, compared with RMB2.7 million in the corresponding period of
2022.
- Cost of services and others were RMB106.5 million (US$14.7
million), an increase of 54.4% from RMB69.0 million in the second quarter of 2022.
The increase was primarily due to an increase in costs associated
with So-Young Prime. Cost of services and others included
share-based compensation expenses of RMB0.4
million (US$0.1 million)
during the second quarter of 2023, compared with RMB2.7 million in the corresponding period of
2022.
- Cost of medical products sold and maintenance
services were RMB43.9
million (US$6.0 million), an
increase of 23.6% from RMB35.5
million in the second quarter of 2022. The increase was
primarily due to an increase in costs associated with Wuhan
Miracle.
|
[3] In the
first half of 2023, in light of the better monitoring business
development of upstream supply chain, the Company grouped the
revenue generated from sales of injectable drugs and sales of
equipment and maintenance services into one line item, which
is renamed as sales of medical products and maintenance
services.
|
|
The sale of injectable
drugs was previously reported in line item of information services
and others. The information services and others for prior
periods and the first half of 2022 have also been
retrospectively updated. The amount reclassified from
information services and others to sales of medical products and
maintenance services are RMB9.0 million for the second quarter of
2023, RMB6.2 million for the second quarter of 2022, RMB16.6
million for the first six months of 2023, and RMB10.7 million for
the first six months of 2022.
|
|
[4] In the
first half of 2023, the previous line item cost of revenues was
separated into two line items, which are cost of medical products
sold and maintenance services and cost of services and others. Cost
of medical products sold and maintenance services primarily
consists of expenditures relating to medical products and
maintenance services, and the remaining
cost of revenues is reclassified into cost of services and others.
The cost of medical products sold and maintenance services and cost
of services and others for prior periods and the first half of 2022
have also been retrospectively reclassified.
|
Operating Expenses
Total operating expenses were RMB282.4
million (US$38.9 million), an
increase of 14.5% from RMB246.6
million in the second quarter of 2022.
- Sales and marketing expenses were RMB137.9 million (US$19.0
million), an increase of 13.3% from RMB121.7 million in the second quarter of 2022.
The increase was primarily due to an increase in expenses
associated with branding and user acquisition activities. Sales and
marketing expenses for the second quarter of 2023 included
share-based compensation expenses of RMB0.8
million (US$0.1 million),
compared with RMB2.2 million in the
corresponding period of 2022.
- General and administrative expenses were
RMB92.3 million (US$12.7 million), an increase of 49.4% from
RMB61.8 million in the second quarter
of 2022. The increase was due to an increase in payroll costs
associated with the expansion of administrative employees to
support our business upgrade and new strategic businesses. General
and administrative expenses for the second quarter of 2023 included
share-based compensation expenses of RMB15.5
million (US$2.1 million),
compared with RMB2.2 million in the
corresponding period of 2022.
- Research and development expenses were RMB52.1 million (US$7.2
million), a decrease of 17.4% from RMB63.1 million in the second quarter of 2022.
The decrease was primarily attributable to improvements in staff
efficiency. Research and development expenses for the second
quarter of 2023 included share-based compensation expenses of
RMB1.3 million (US$0.2 million), compared with RMB2.5 million in the corresponding period of
2022.
Income Tax Benefits
Income tax benefits were RMB0.8
million (US$0.1 million),
compared with income tax benefits RMB0.1
million in the same period of 2022.
Net Loss Attributable to So-Young International
Inc.
Net loss attributable to So-Young International Inc. was
RMB2.6 million (US$0.4 million), compared with a net loss
attributable to So-Young International Inc. of RMB32.3 million in the second quarter of
2022.
Non-GAAP Net Income/(Loss) Attributable to So-Young
International Inc.
Non-GAAP net income attributable to So-Young International
Inc. was RMB15.5 million
(US$2.1 million), compared with
RMB22.7 million non-GAAP net loss
attributable to So-Young International Inc. in the same period
of 2022.
Basic and Diluted Loss per ADS
Basic and diluted loss per ADS attributable to ordinary
shareholders were RMB0.02
(US$0.00) and RMB0.02 (US$0.00),
respectively, compared with basic and diluted loss per ADS
attributable to ordinary shareholders of RMB0.30 and RMB0.30, respectively, in the same period of
2022.
Cash and Cash Equivalents, Restricted Cash and Term
Deposits, Term Deposits and Short-Term Investments
As of June 30, 2023, cash and cash
equivalents, restricted cash and term deposits, term deposits and
short-term investments were RMB1,536.5
million (US$211.9 million),
compared with RMB1,585.3 million
as of December 31, 2022.
Business Outlook
For the third quarter of 2023, So-Young expects total revenues
to be between RMB380.0 million
(US$52.4 million) and RMB400.0 million (US$55.2
million), representing a 17.5% to 23.7% increase from the
same period in 2022. The above outlook is based on the current
market conditions and reflects the Company's preliminary estimates
of market and operating conditions, as well as customer demand,
which are all subject to change.
Non-GAAP Financial Measures
To supplement the financial measures prepared in accordance with
generally accepted accounting principles in the United States, or GAAP, this press release
presents non-GAAP (loss)/income from operations and non-GAAP net
(loss)/income attributable to So-Young International Inc. by
excluding share-based compensation expenses from (loss)/income from
operations and net (loss)/income attributable to So-Young
International Inc., respectively. The Company believes these
non-GAAP financial measures are important to help investors
understand the Company's operating and financial performance,
compare business trends among different reporting periods on a
consistent basis and assess the Company's core operating results,
as they exclude certain expenses that are not expected to result in
cash payments. The use of the above non-GAAP financial measures has
certain limitations. Share-based compensation expenses have been
and will continue to be incurred in the future. All these are not
reflected in the presentation of the non-GAAP financial measures,
but should be considered in the overall evaluation of the Company's
results. The Company compensates for these limitations by providing
the relevant disclosure of its share-based compensation
expenses in the reconciliations to the most directly
comparable GAAP financial measures, which should be considered when
evaluating the Company's performance. These non-GAAP financial
measures should be considered in addition to financial measures
prepared in accordance with GAAP, but should not be considered a
substitute for, or superior to, financial measures prepared in
accordance with GAAP. Reconciliation of each of these non-GAAP
financial measures to the most directly comparable GAAP financial
measure is set forth at the end of this release.
Conference Call Information
So-Young's management will hold an earnings conference call on
Monday, August 21, 2023, at
7:30 AM U.S. Eastern Time
(7:30 PM on the same day,
Beijing/Hong Kong Time). Dial-in
details for the earnings conference call are as follows:
|
International:
|
+1-412-902-4272
|
|
Mainland China:
|
4001-201203
|
|
US:
|
+1-888-346-8982
|
|
Hong Kong:
|
+852-301-84992
|
|
Passcode:
|
So-Young International
Inc.
|
A telephone replay will be available two hours after the
conclusion of the conference call through 23:59 U.S. Eastern Time,
August 28, 2023. The dial-in details
are:
|
International:
|
+1-412-317-0088
|
|
US:
|
+1-877-344-7529
|
|
Passcode:
|
2864127
|
Additionally, a live and archived webcast of this conference
call will be available at http://ir.soyoung.com.
About So-Young International Inc.
So-Young International Inc. (Nasdaq: SY) ("So-Young" or the
"Company") is the largest and most vibrant social community in
China for consumers, professionals
and service providers in the medical aesthetics industry. The
Company presents users with reliable information through offering
high quality and trustworthy content together with a multitude of
social functions on its platform, as well as by curating medical
aesthetic service providers that are carefully selected and vetted.
Leveraging So-Young's strong brand image, extensive audience reach,
trust from its users, highly engaging social community and data
insights, the Company is well-positioned to expand both along the
medical aesthetic industry value chain and into the massive,
fast-growing consumption healthcare service market.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements. Among
other things, the Financial Guidance and quotations from management
in this announcement, as well as So-Young's strategic and
operational plans, contain forward-looking statements. So-Young may
also make written or oral forward-looking statements in its
periodic reports to the U.S. Securities and Exchange Commission, in
its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including but not limited to statements about
So-Young's beliefs and expectations, are forward-looking
statements. Forward looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: So-Young's
strategies; So-Young's future business development, financial
condition and results of operations; So-Young's ability to retain
and increase the number of users and medical service providers, and
expand its service offerings; competition in the online medical
aesthetic service industry; changes in So-Young's revenues, costs
or expenditures; Chinese governmental policies and regulations
relating to the online medical aesthetic service industry, general
economic and business conditions globally and in China; the impact of the COVID-19 pandemic to
So-Young's business operations and the economy in China and elsewhere generally; and assumptions
underlying or related to any of the foregoing. Further information
regarding these and other risks is included in the Company's
filings with the Securities and Exchange Commission. All
information provided in this press release and in the attachments
is as of the date of the press release, and So-Young undertakes no
duty to update such information, except as required under
applicable law.
For more information, please contact:
So-Young
Investor Relations
Ms. Vivian Xu
Phone: +86-10-8790-2012
E-mail: ir@soyoung.com
Christensen
In China
Mr. Eric Yuan
Phone: +86-10-5900-1548
E-mail: eric.yuan@christensencomms.com
In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: linda.bergkamp@christensencomms.com
|
SO-YOUNG
INTERNATIONAL INC.
|
|
UNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS
|
|
(Amounts in
thousands, except for share and per share data)
|
|
|
As of
|
|
December 31,
|
|
June
30,
|
|
June
30,
|
|
2022
|
2023
|
2023
|
|
RMB
|
|
RMB
|
|
US$
|
|
Assets
|
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
|
Cash and cash
equivalents
|
694,420
|
|
758,711
|
|
104,631
|
|
Restricted cash and
term deposits
|
14,908
|
|
15,272
|
|
2,106
|
|
Trade
receivables
|
36,006
|
|
55,394
|
|
7,639
|
|
Inventories,
net
|
120,480
|
|
123,020
|
|
16,965
|
|
Receivables from online
payment platforms
|
14,787
|
|
18,442
|
|
2,543
|
|
Amounts due from
related parties
|
33,382
|
|
21,426
|
|
2,955
|
|
Term deposits and
short-term investments
|
875,955
|
|
762,516
|
|
105,156
|
|
Prepayment and other
current assets
|
126,889
|
|
152,636
|
|
21,049
|
|
Total current
assets
|
1,916,827
|
|
1,907,417
|
|
263,044
|
|
Non-current
assets:
|
|
|
|
|
|
|
Long-term
investments
|
227,959
|
|
251,709
|
|
34,712
|
|
Intangible
assets
|
169,280
|
|
156,821
|
|
21,627
|
|
Goodwill
|
540,693
|
|
540,693
|
|
74,565
|
|
Property and equipment,
net
|
116,184
|
|
115,318
|
|
15,903
|
|
Deferred tax
assets
|
64,739
|
|
64,059
|
|
8,834
|
|
Operating lease
right-of-use assets
|
62,898
|
|
48,092
|
|
6,632
|
|
Other non-current
assets
|
99,293
|
|
79,942
|
|
11,025
|
|
Total non-current
assets
|
1,281,046
|
|
1,256,634
|
|
173,298
|
|
Total
assets
|
3,197,873
|
|
3,164,051
|
|
436,342
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
Taxes
payable
|
74,580
|
|
60,108
|
|
8,289
|
|
Contract
liabilities
|
110,159
|
|
106,933
|
|
14,747
|
|
Salary and welfare
payables
|
72,532
|
|
72,850
|
|
10,046
|
|
Amounts due to related
parties
|
5,895
|
|
413
|
|
57
|
|
Accrued expenses and
other current liabilities
|
224,589
|
|
303,449
|
|
41,848
|
|
Operating lease
liabilities-current
|
50,285
|
|
45,224
|
|
6,237
|
|
Total current
liabilities
|
538,040
|
|
588,977
|
|
81,224
|
|
Non-current
liabilities:
|
|
|
|
|
|
|
Operating lease
liabilities-non current
|
20,972
|
|
6,674
|
|
920
|
|
Deferred tax
liabilities
|
30,993
|
|
27,540
|
|
3,798
|
|
Other non-current
liabilities
|
—
|
|
1,021
|
|
141
|
|
Total non-current
liabilities
|
51,965
|
|
35,235
|
|
4,859
|
|
Total
liabilities
|
590,005
|
|
624,212
|
|
86,083
|
|
SO-YOUNG
INTERNATIONAL INC.
|
|
UNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS
|
|
(Amounts in
thousands, except for share and per share data)
|
|
|
Shareholders' equity
|
|
|
|
|
|
|
|
Treasury
stock
|
(232,835)
|
|
(351,639)
|
|
(48,493)
|
|
|
Class A Ordinary
shares (US$0.0005 par value; 750,000,000
shares authorized as of December 31, 2022 and
June 30,
2023; 73,065,987 and 68,843,320 shares issued
and
outstanding as of December 31, 2022, 73,364,515
and
63,772,201 shares issued and outstanding as of
June 30,
2023, respectively)
|
236
|
|
237
|
|
32
|
|
|
Class B Ordinary
shares (US$0.0005 par value; 20,000,000
shares authorized as of December 31, 2022 and
June 30,
2023; 12,000,000 shares issued and outstanding
as of
December 31, 2022 and June 30, 2023)
|
37
|
|
37
|
|
5
|
|
|
Additional paid-in
capital
|
3,043,971
|
|
3,071,370
|
|
423,561
|
|
|
Statutory
reserves
|
29,027
|
|
29,027
|
|
4,003
|
|
|
Accumulated
deficit
|
(346,618)
|
|
(361,144)
|
|
(49,804)
|
|
|
Accumulated other
comprehensive income
|
4,107
|
|
37,328
|
|
5,148
|
|
|
Total So-Young
International Inc. shareholders'
equity
|
2,497,925
|
|
2,425,216
|
|
334,452
|
|
|
Non-controlling
interests
|
109,943
|
|
114,623
|
|
15,807
|
|
|
Total shareholders'
equity
|
2,607,868
|
|
2,539,839
|
|
350,259
|
|
|
Total liabilities
and shareholders' equity
|
3,197,873
|
|
3,164,051
|
|
436,342
|
|
|
SO-YOUNG
INTERNATIONAL INC.
|
|
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS
|
|
(Amounts in
thousands, except for share and per share data)
|
|
|
For the Three Months
Ended
|
|
For the Six Months
Ended
|
|
June 30,
2022
|
|
June 30,
2023
|
|
June 30,
2023
|
|
June 30,
2022
|
|
June 30,
2023
|
|
June 30,
2023
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Information services
and others
|
213,111
|
|
298,879
|
|
41,217
|
|
408,145
|
|
509,163
|
|
70,217
|
|
|
Reservation
services
|
30,616
|
|
26,903
|
|
3,710
|
|
72,969
|
|
56,584
|
|
7,803
|
|
|
Sales of medical
products and maintenance services
|
65,352
|
|
86,284
|
|
11,899
|
|
128,311
|
|
156,422
|
|
21,571
|
|
|
Total
revenues
|
309,079
|
|
412,066
|
|
56,826
|
|
609,425
|
|
722,169
|
|
99,591
|
|
|
Cost of
revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of services and
others
|
(68,989)
|
|
(106,519)
|
|
(14,690)
|
|
(139,923)
|
|
(188,019)
|
|
(25,929)
|
|
|
Cost of medical
products sold and maintenance services
|
(35,490)
|
|
(43,859)
|
|
(6,048)
|
|
(71,139)
|
|
(76,080)
|
|
(10,492)
|
|
|
Total cost of
revenues
|
(104,479)
|
|
(150,378)
|
|
(20,738)
|
|
(211,062)
|
|
(264,099)
|
|
(36,421)
|
|
|
Gross
profit
|
204,600
|
|
261,688
|
|
36,088
|
|
398,363
|
|
458,070
|
|
63,170
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and marketing
expenses
|
(121,740)
|
|
(137,921)
|
|
(19,020)
|
|
(248,953)
|
|
(250,432)
|
|
(34,537)
|
|
|
General and
administrative expenses
|
(61,794)
|
|
(92,341)
|
|
(12,734)
|
|
(127,186)
|
|
(153,855)
|
|
(21,218)
|
|
|
Research and
development expenses
|
(63,089)
|
|
(52,141)
|
|
(7,191)
|
|
(142,023)
|
|
(107,934)
|
|
(14,885)
|
|
|
Total operating
expenses
|
(246,623)
|
|
(282,403)
|
|
(38,945)
|
|
(518,162)
|
|
(512,221)
|
|
(70,640)
|
|
|
Loss from operations
|
(42,023)
|
|
(20,715)
|
|
(2,857)
|
|
(119,799)
|
|
(54,151)
|
|
(7,470)
|
|
|
Other
income/(expenses):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment
income
|
1,068
|
|
3,370
|
|
465
|
|
3,504
|
|
10,222
|
|
1,410
|
|
|
Interest
income
|
5,347
|
|
13,966
|
|
1,926
|
|
8,546
|
|
25,893
|
|
3,571
|
|
|
Exchange
losses
|
(600)
|
|
(1,579)
|
|
(218)
|
|
(539)
|
|
(1,154)
|
|
(159)
|
|
|
Share of losses of
equity method investee
|
(833)
|
|
(3,699)
|
|
(510)
|
|
(1,902)
|
|
(6,870)
|
|
(947)
|
|
|
Others, net
|
4,425
|
|
6,562
|
|
905
|
|
8,381
|
|
8,587
|
|
1,184
|
|
|
Loss before
tax
|
(32,616)
|
|
(2,095)
|
|
(289)
|
|
(101,809)
|
|
(17,473)
|
|
(2,411)
|
|
|
Income tax
benefits
|
55
|
|
785
|
|
108
|
|
2,056
|
|
5,049
|
|
696
|
|
|
Net
loss
|
(32,561)
|
|
(1,310)
|
|
(181)
|
|
(99,753)
|
|
(12,424)
|
|
(1,715)
|
|
|
Net
loss/(income) attributable to noncontrolling interests
|
265
|
|
(1,268)
|
|
(175)
|
|
616
|
|
(2,102)
|
|
(290)
|
|
|
Net loss
attributable to So-Young International Inc.
|
(32,296)
|
|
(2,578)
|
|
(356)
|
|
(99,137)
|
|
(14,526)
|
|
(2,005)
|
|
|
SO-YOUNG
INTERNATIONAL INC.
|
|
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS (Continued)
|
|
(Amounts in
thousands, except for share and per share data)
|
|
|
For the Three Months
Ended
|
|
For the Six Months
Ended
|
|
|
June 30,
2022
|
|
June 30,
2023
|
|
June 30,
2023
|
|
June 30,
2022
|
|
June 30,
2023
|
|
June 30,
2023
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per
ordinary share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per ordinary
share attributable to ordinary shareholder - basic
|
(0.39)
|
|
(0.03)
|
|
(0.00)
|
|
(1.20)
|
|
(0.18)
|
|
(0.02)
|
|
|
Net loss per ordinary share attributable to ordinary
shareholder - diluted
|
(0.39)
|
|
(0.03)
|
|
(0.00)
|
|
(1.20)
|
|
(0.18)
|
|
(0.02)
|
|
|
Net loss per ADS
attributable to ordinary shareholders - basic (13 ADS
represents 10 Class A ordinary
shares)
|
(0.30)
|
|
(0.02)
|
|
(0.00)
|
|
(0.92)
|
|
(0.14)
|
|
(0.02)
|
|
|
Net loss per ADS
attributable to ordinary shareholders - diluted (13 ADS
represents 10 Class A ordinary
shares)
|
(0.30)
|
|
(0.02)
|
|
(0.00)
|
|
(0.92)
|
|
(0.14)
|
|
(0.02)
|
|
|
Weighted average number
of ordinary shares used in computing
earnings/(loss) per share,
basic*
|
82,709,017
|
|
77,310,426
|
|
77,310,426
|
|
82,394,496
|
|
78,580,369
|
|
78,580,369
|
|
|
Weighted average number
of ordinary shares used in computing
earnings/(loss) per share, diluted*
|
82,709,017
|
|
77,310,426
|
|
77,310,426
|
|
82,394,496
|
|
78,580,369
|
|
78,580,369
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
compensation expenses included in:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of services and
others
|
(2,662)
|
|
(412)
|
|
(57)
|
|
(5,296)
|
|
(1,217)
|
|
(168)
|
|
|
Sales and
marketing expenses
|
(2,236)
|
|
(823)
|
|
(113)
|
|
(5,672)
|
|
(2,317)
|
|
(320)
|
|
|
General and
administrative expenses
|
(2,249)
|
|
(15,546)
|
|
(2,144)
|
|
(10,163)
|
|
(21,564)
|
|
(2,974)
|
|
|
Research and
development expenses
|
(2,478)
|
|
(1,305)
|
|
(180)
|
|
(7,070)
|
|
(2,182)
|
|
(301)
|
|
|
|
|
* Both Class A
and Class B ordinary shares are included in the calculation of the
weighted average number of ordinary shares outstanding, basic and
diluted.
|
|
|
SO-YOUNG
INTERNATIONAL INC.
|
|
Reconciliation of
GAAP and Non-GAAP Results
|
|
(Amounts in
thousands, except for share and per share data)
|
|
|
For the Three Months
Ended
|
|
For the Six Months
Ended
|
|
June
30,
2022
|
|
June
30,
2023
|
|
June 30,
2023
|
|
June 30,
2022
|
|
June 30,
2023
|
|
June 30,
2023
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP loss from
operations
|
(42,023)
|
|
(20,715)
|
|
(2,857)
|
|
(119,799)
|
|
(54,151)
|
|
(7,470)
|
|
|
Add back: Share-based
compensation expenses
|
9,625
|
|
18,086
|
|
2,494
|
|
28,201
|
|
27,280
|
|
3,763
|
|
|
Non-GAAP loss from
operations
|
(32,398)
|
|
(2,629)
|
|
(363)
|
|
(91,598)
|
|
(26,871)
|
|
(3,707)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP
net loss attributable to So-Young International
Inc.
|
(32,296)
|
|
(2,578)
|
|
(356)
|
|
(99,137)
|
|
(14,526)
|
|
(2,005)
|
|
|
Add back: Share-based
compensation expenses
|
9,625
|
|
18,086
|
|
2,494
|
|
28,201
|
|
27,280
|
|
3,763
|
|
|
Non-GAAP
net (loss)/income attributable to
So-Young International Inc.
|
(22,671)
|
|
15,508
|
|
2,138
|
|
(70,936)
|
|
12,754
|
|
1,758
|
|
View original
content:https://www.prnewswire.com/news-releases/so-young-reports-unaudited-second-quarter-2023-financial-results-301905451.html
SOURCE So-Young International Inc.