SY So Young International Inc

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of February 2025

 

Commission file number: 001-38878

 

So-Young International Inc.

 

2/F, East Tower, Poly Plaza

No. 66 Xiangbin Road

Chaoyang District, Beijing, 100012

People’s Republic of China

(Address of Principal Executive Offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.  Form 20-F x          Form 40-F ¨

 

 

 

 Transfer of Listing to Nasdaq Capital Market and

Extension of Compliance Period for Minimum Bid Price Requirement

 

As previously disclosed in a current report on Form 6-K on August 29, 2024, So-Young International Inc. (the “Company”) received a notification letter from The Nasdaq Stock Market LLC (“Nasdaq”) on August 28, 2024, notifying the Company that for the last 30 consecutive business days, the closing bid price of the Company’s American depositary shares (the “ADSs”) was below the minimum bid price of US$1.00 per share requirement set forth in Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Price Requirement”). Pursuant to the Nasdaq Listing Rule 5810(c)(3)(A), the Company is provided with a compliance period of 180 calendar days, or until February 24, 2025, to regain compliance under the Minimum Bid Price Requirement.

 

In response to the notification letter, the Company submitted an application to Nasdaq to transfer the listing of its ADSs from The Nasdaq Global Market to The Nasdaq Capital Market. Nasdaq approved the Company’s transfer application on February 25, 2025. The transfer will take effect at the opening of business on February 27, 2025. The transfer is not expected to have any immediate effect on trading of the Company’s ADSs, which will continue to trade uninterruptedly under the symbol “SY.” The Nasdaq Capital Market operates in substantially the same manner as The Nasdaq Global Market, and companies on The Nasdaq Capital Market must meet certain financial and corporate governance requirements to qualify for continued listing.

 

In conjunction with such approval, Nasdaq also granted the Company an extended period of 180 calendar days, or until August 25, 2025 (the “Extended Compliance Period”), to regain compliance with the Nasdaq’s Minimum Bid Price Requirement. To regain compliance, the closing bid price of the Company’s ADSs must meet or exceed US$1.00 per share for a minimum of 10 consecutive business days.

 

If the Company’s compliance with the Minimum Bid Price Requirement is not satisfied by the end of the Extended Compliance Period, Nasdaq will notify the Company that its securities will be delisted. At that time, the Company may appeal Nasdaq’s determination to a hearings panel.

 

There can be no assurance that the Company will be able to regain compliance with the Minimum Bid Price Requirement or maintain its listing on The Nasdaq Capital Market. The Company intends to continue actively monitoring the closing bid price of its ADSs and will consider other options to cure the deficiency and regain compliance.

 

 

Signature

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

	So-Young International Inc.
	By:	/s/ Hui Zhao
		Name:	Hui Zhao
		Title:	Chief Financial Officer

 

Date: February 26, 2025

 

 

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