BEIJING, Nov. 20,
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 third quarter ended September 30,
2023.
Third Quarter 2023 Financial
Highlights
- Total revenues were RMB385.3
million (US$52.8
million[1]), an increase of 19.2% from
RMB323.3 million in the same period
of 2022, in line with previous guidance.
- Net income attributable to So-Young was RMB18.3 million (US$2.5
million), compared with net income attributable to So-Young
of RMB2.3 million in the third
quarter of 2022.
- Non-GAAP net income attributable to
So-Young[2] was RMB9.5
million (US$1.3 million),
compared with non-GAAP net income attributable to So-Young of
RMB9.9 million in the same period of
2022.
Third Quarter 2023 Operational Highlights
- Average mobile MAUs were 3.1 million, compared with 3.9 million
in the third quarter of 2022.
- Number of medical service providers subscribing to information
services on So-Young's platform were 1,397, compared with 1,704 in
the third quarter of 2022.
- Total number of users purchasing were 146.3 thousand while the
aggregate value of medical aesthetic treatment transactions
facilitated by So-Young's platform was RMB530.4 million.
Mr. Xing Jin, Co-Founder and
Chief Executive Officer of So-Young, commented, "Our business
remained resilient and delivered solid financial and operational
results during the quarter despite macroeconomic headwinds and the
effects of seasonality. Total revenues were RMB385.3 million, an increase of 19.2%
year-over-year and in line with our previous guidance. While our
existing POP business and So-Young Prime continue to make solid
progress, our supply chain business really stood out during the
quarter as we ramp up investment into it. During the quarter,
revenue from our supply chain business was RMB75.2 million, accounting for 19.5% of total
revenue and increasingly contributing to our bottom line. Looking
ahead, we will push ahead with our strategic transformation and
strengthen synergies between our business segments to solidify our
leadership position."
Mr. Hui Zhao, Chief Financial
Officer of So-Young, added, "Our profitability continued to improve
thanks to effective cost controls and our focus on driving
high-quality growth. Net income attributable to So-Young
International Inc. was RMB18.3
million, compared with RMB2.3
million in the same period last year. With a solid platform
to sustainably build off of now firmly in place, we are confidently
allocating more resources towards high-quality growth ventures such
as So-Young Prime and our supply chain business to take advantage
of these opportunities and keep a healthy cash reserve and further
improve 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 RMB 7.2960 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
September 29, 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.
|
Third Quarter 2023 Financial Results
Revenues
Total revenues were RMB385.3
million (US$52.8 million), an
increase of 19.2% from RMB323.3
million in the same period of 2022. The increase was
primarily due to the increase in revenues generated by So-Young
Prime and sales of medical products.
- Information services and other revenues were
RMB285.9 million (US$39.2 million), an increase of 24.1% from
RMB230.5 million in the same period
of 2022. The increase was primarily due to an increase in revenues
generated by So-Young Prime.
- Reservation services revenues were RMB24.1 million (US$3.3
million), a decrease of 18.8% from RMB29.7 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 RMB75.2 million (US$10.3
million), an increase of 19.2% from RMB63.1 million in the same period of 2022,
primarily due to an increase in sales of cosmetic injectables.
Cost of
Revenues[4]
Cost of revenues were RMB142.6
million (US$19.5 million), an
increase of 51.7% from RMB94.0
million in the third quarter of 2022. The increase was
primarily due to an increase in costs associated with So-Young
Prime. Cost of revenues included share-based compensation expenses
of RMB0.4 million (US$0.1 million) during the third quarter of 2023,
compared with RMB2.0 million in the
corresponding period of 2022.
- Cost of services and others were RMB103.5 million (US$14.2
million), an increase of 74.2% from RMB59.4 million in the third quarter of 2022. The
increase was primarily due to an increase in costs associated with
So-Young Prime.
- Cost of medical products sold and maintenance services
were RMB39.1 million (US$5.4 million), an increase of 13.0% from
RMB34.6 million in the third quarter
of 2022. The increase was primarily due to an increase in costs
associated with the sales of cosmetic injectables.
|
[3] In the
first nine months of 2023, in light of the better monitoring
business development of upstream supply chain, the Company grouped
the revenue generated from sales of cosmetic injectables 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 cosmetic
injectables was previously reported in line item of information
services and others. The information services and others for prior
periods and the nine months period ended September 30, 2022 have
also been retrospectively updated. The amount reclassified from
information services and others to sales of medical products and
maintenance services are RMB5.2 million for the third quarter of
2022 and RMB16.0 million for the first nine months of
2022.
|
|
[4] In
the first nine months 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 nine months of 2022 have
also been retrospectively reclassified.
|
Operating Expenses
Total operating expenses were RMB244.7
million (US$33.5 million), an
increase of 3.4% from RMB236.6
million in the third quarter of 2022.
- Sales and marketing expenses were RMB143.8 million (US$19.7
million), an increase of 15.3% from RMB124.8 million in the third 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 third quarter of 2023 included
share-based compensation expenses of RMB0.5
million (US$0.1 million),
compared with RMB0.7 million in the
corresponding period of 2022.
- General and administrative expenses were RMB50.2 million (US$6.9
million), a decrease of 16.0% from RMB59.8 million in the third quarter of 2022. The
change was primarily due to the reversal of share-based
compensation expenses, partially offset by 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 third quarter of 2023 included
the reversal of share-based compensation expenses of RMB11.2 million (US$1.5
million), compared with share-based compensation expenses of
RMB4.5 million in the corresponding
period of 2022.
- Research and development expenses were RMB50.6 million (US$6.9
million), a decrease of 2.7% from RMB52.0 million in the third quarter of 2022. The
decrease was primarily attributable to improvements in staff
efficiency. Research and development expenses for the third quarter
of 2023 included share-based compensation expenses of RMB1.5 million (US$0.2
million), compared with RMB0.4
million in the corresponding period of 2022.
Income Tax Benefits
Income tax benefits were RMB2.2
million (US$0.3 million),
compared with income tax benefits of RMB16.5
million in the same period of 2022.
Net Income/(loss) Attributable to So-Young International
Inc.
Net income attributable to So-Young International Inc. was
RMB18.3 million (US$2.5 million), compared with a net income
attributable to So-Young International Inc. of RMB2.3 million in the third 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 RMB9.5 million
(US$1.3 million), compared with
RMB9.9 million non-GAAP net income
attributable to So-Young International Inc. in the same period
of 2022.
Basic and Diluted Earnings per ADS
Basic and diluted earnings per ADS attributable to ordinary
shareholders were RMB0.18
(US$0.02) and RMB0.18 (US$0.02),
respectively, compared with basic and diluted earnings per ADS
attributable to ordinary shareholders of RMB0.02 and RMB0.02, respectively, in the same period of
2022.
Cash and Cash Equivalents, Restricted Cash and Term
Deposits, Term Deposits and Short-Term Investments
As of September 30, 2023, cash and
cash equivalents, restricted cash and term deposits, term deposits
and short-term investments were RMB1,405.4
million (US$192.6 million),
compared with RMB1,585.3 million
as of December 31, 2022.
Business Outlook
For the fourth quarter of 2023, So-Young expects total revenues
to be between RMB380.0 million
(US$52.1 million) and RMB400.0 million (US$54.8
million), representing a 16.9% to 23.0% 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 income/(loss) from operations and non-GAAP
net income/(loss) attributable to So-Young International Inc.
by excluding share-based compensation expenses from loss from
operations and net income/(loss) 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, November 20, 2023, at
7:00 AM U.S. Eastern Time
(8:00 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,
November 27, 2023. The dial-in
details are:
International:
+1-412-317-0088
US:
+1-877-344-7529
Passcode:
8166313
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,
|
|
September
30,
|
|
September
30,
|
|
2022
|
2023
|
2023
|
|
RMB
|
|
RMB
|
|
US$
|
|
Assets
|
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
|
Cash and cash
equivalents
|
694,420
|
|
438,604
|
|
60,116
|
|
Restricted cash and
term deposits
|
14,908
|
|
15,890
|
|
2,178
|
|
Trade
receivables
|
36,006
|
|
62,338
|
|
8,544
|
|
Inventories,
net
|
120,480
|
|
115,176
|
|
15,786
|
|
Receivables from online
payment platforms
|
14,787
|
|
32,067
|
|
4,395
|
|
Amounts due from
related parties
|
33,382
|
|
21,099
|
|
2,892
|
|
Term deposits and
short-term investments
|
875,955
|
|
950,860
|
|
130,326
|
|
Prepayment and other
current assets
|
126,889
|
|
182,261
|
|
24,981
|
|
Total current
assets
|
1,916,827
|
|
1,818,295
|
|
249,218
|
|
Non-current
assets:
|
|
|
|
|
|
|
Long-term
investments
|
227,959
|
|
252,371
|
|
34,590
|
|
Intangible
assets
|
169,280
|
|
151,160
|
|
20,718
|
|
Goodwill
|
540,693
|
|
540,693
|
|
74,108
|
|
Property and equipment,
net
|
116,184
|
|
111,912
|
|
15,339
|
|
Deferred tax
assets
|
64,739
|
|
66,855
|
|
9,163
|
|
Operating lease
right-of-use assets
|
62,898
|
|
36,949
|
|
5,064
|
|
Other non-current
assets
|
99,293
|
|
154,166
|
|
21,130
|
|
Total non-current
assets
|
1,281,046
|
|
1,314,106
|
|
180,112
|
|
Total
assets
|
3,197,873
|
|
3,132,401
|
|
429,330
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
Taxes
payable
|
74,580
|
|
62,082
|
|
8,509
|
|
Contract
liabilities
|
110,159
|
|
113,768
|
|
15,593
|
|
Salary and welfare
payables
|
72,532
|
|
75,223
|
|
10,310
|
|
Amounts due to related
parties
|
5,895
|
|
765
|
|
105
|
|
Accrued expenses and
other current
liabilities
|
224,589
|
|
273,923
|
|
37,545
|
|
Operating lease
liabilities-current
|
50,285
|
|
32,726
|
|
4,485
|
|
Total current
liabilities
|
538,040
|
|
558,487
|
|
76,547
|
|
Non-current
liabilities:
|
|
|
|
|
|
|
Operating lease
liabilities-non current
|
20,972
|
|
5,806
|
|
796
|
|
Deferred tax
liabilities
|
30,993
|
|
25,603
|
|
3,509
|
|
Other non-current
liabilities
|
—
|
|
1,025
|
|
140
|
|
Total non-current
liabilities
|
51,965
|
|
32,434
|
|
4,445
|
|
Total
liabilities
|
590,005
|
|
590,921
|
|
80,992
|
|
|
|
|
|
|
|
SO-YOUNG
INTERNATIONAL INC.
UNAUDITED
CONDENSED CONSOLIDATED BALANCE SHEETS (Continued)
(Amounts in
thousands, except for share and per share data)
|
|
|
|
|
|
|
|
|
|
Shareholders' equity
|
|
|
|
|
|
|
|
Treasury
stock
|
(232,835)
|
|
(354,278)
|
|
(48,558)
|
|
|
Class A Ordinary
shares (US$0.0005 par value; 750,000,000
shares authorized as of December 31, 2022 and
September
30, 2023; 73,065,987 and 68,843,320 shares
issued and
outstanding as of December 31, 2022, 73,561,708
and
63,742,584 shares issued and outstanding as of
September
30, 2023, respectively)
|
236
|
|
237
|
|
32
|
|
|
Class B Ordinary
shares (US$0.0005 par value; 20,000,000
shares authorized as of December 31, 2022
and September
30, 2023; 12,000,000 shares issued and
outstanding as of
December 31, 2022 and September 30,
2023)
|
37
|
|
37
|
|
5
|
|
|
Additional paid-in
capital
|
3,043,971
|
|
3,062,624
|
|
419,768
|
|
|
Statutory
reserves
|
29,027
|
|
29,027
|
|
3,978
|
|
|
Accumulated
deficit
|
(346,618)
|
|
(342,839)
|
|
(46,990)
|
|
|
Accumulated other
comprehensive income
|
4,107
|
|
31,210
|
|
4,278
|
|
|
Total So-Young
International Inc. shareholders'
equity
|
2,497,925
|
|
2,426,018
|
|
332,513
|
|
|
Non-controlling
interests
|
109,943
|
|
115,462
|
|
15,825
|
|
|
Total shareholders'
equity
|
2,607,868
|
|
2,541,480
|
|
348,338
|
|
|
Total liabilities
and shareholders' equity
|
3,197,873
|
|
3,132,401
|
|
429,330
|
|
|
SO-YOUNG
INTERNATIONAL INC.
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in
thousands, except for share and per share data)
|
|
|
For the Three Months
Ended
|
|
For the Nine Months
Ended
|
|
September
30, 2022
|
|
September
30, 2023
|
|
September
30, 2023
|
|
September
30, 2022
|
|
September
30, 2023
|
|
September
30, 2023
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Information services
and others
|
230,478
|
|
285,937
|
|
39,191
|
|
638,623
|
|
795,100
|
|
108,978
|
|
|
Reservation
services
|
29,733
|
|
24,140
|
|
3,309
|
|
102,702
|
|
80,724
|
|
11,064
|
|
|
Sales of medical
products and maintenance services
|
63,092
|
|
75,217
|
|
10,309
|
|
191,403
|
|
231,639
|
|
31,749
|
|
|
Total
revenues
|
323,303
|
|
385,294
|
|
52,809
|
|
932,728
|
|
1,107,463
|
|
151,791
|
|
|
Cost of
revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of services and
others
|
(59,405)
|
|
(103,484)
|
|
(14,184)
|
|
(199,328)
|
|
(291,503)
|
|
(39,954)
|
|
|
Cost of medical
products sold and maintenance services
|
(34,623)
|
|
(39,119)
|
|
(5,362)
|
|
(105,762)
|
|
(115,199)
|
|
(15,789)
|
|
|
Total cost of
revenues
|
(94,028)
|
|
(142,603)
|
|
(19,546)
|
|
(305,090)
|
|
(406,702)
|
|
(55,743)
|
|
|
Gross
profit
|
229,275
|
|
242,691
|
|
33,263
|
|
627,638
|
|
700,761
|
|
96,048
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and marketing
expenses
|
(124,781)
|
|
(143,844)
|
|
(19,715)
|
|
(373,734)
|
|
(394,276)
|
|
(54,040)
|
|
|
General and
administrative expenses
|
(59,847)
|
|
(50,242)
|
|
(6,886)
|
|
(187,033)
|
|
(204,097)
|
|
(27,974)
|
|
|
Research and
development expenses
|
(51,998)
|
|
(50,597)
|
|
(6,935)
|
|
(194,021)
|
|
(158,531)
|
|
(21,728)
|
|
|
Total operating
expenses
|
(236,626)
|
|
(244,683)
|
|
(33,536)
|
|
(754,788)
|
|
(756,904)
|
|
(103,742)
|
|
|
Loss from operations
|
(7,351)
|
|
(1,992)
|
|
(273)
|
|
(127,150)
|
|
(56,143)
|
|
(7,694)
|
|
|
Other
income/(expenses):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment
income
|
493
|
|
647
|
|
89
|
|
3,997
|
|
10,869
|
|
1,490
|
|
|
Interest
income
|
10,061
|
|
12,130
|
|
1,663
|
|
18,607
|
|
38,023
|
|
5,211
|
|
|
Exchange
gain/(losses)
|
24
|
|
103
|
|
14
|
|
(515)
|
|
(1,051)
|
|
(144)
|
|
|
Impairment of long-term
investment
|
(7,945)
|
|
—
|
|
—
|
|
(7,945)
|
|
—
|
|
—
|
|
|
Share of losses of
equity method investee
|
(9,106)
|
|
(3,822)
|
|
(524)
|
|
(11,008)
|
|
(10,692)
|
|
(1,465)
|
|
|
Others, net
|
(781)
|
|
9,887
|
|
1,355
|
|
7,600
|
|
18,474
|
|
2,532
|
|
|
(Loss)/income before
tax
|
(14,605)
|
|
16,953
|
|
2,324
|
|
(116,414)
|
|
(520)
|
|
(70)
|
|
|
Income tax
benefits
|
16,486
|
|
2,191
|
|
300
|
|
18,542
|
|
7,240
|
|
992
|
|
|
Net
income/(loss)
|
1,881
|
|
19,144
|
|
2,624
|
|
(97,872)
|
|
6,720
|
|
922
|
|
|
Net
loss/(income) attributable to noncontrolling interests
|
429
|
|
(839)
|
|
(115)
|
|
1,045
|
|
(2,941)
|
|
(403)
|
|
|
Net income/(loss) attributable
to So-Young International Inc.
|
2,310
|
|
18,305
|
|
2,509
|
|
(96,827)
|
|
3,779
|
|
519
|
|
|
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 Nine Months
Ended
|
|
|
September
30, 2022
|
|
September
30, 2023
|
|
September
30, 2023
|
|
September
30, 2022
|
|
September
30, 2023
|
|
September
30, 2023
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
earnings/(loss) per ordinary
share
|
|
|
|
|
|
|
|
|
|
|
|
|
Net earnings/(loss) per
ordinary share attributable to ordinary shareholder -
basic
|
0.03
|
|
0.24
|
|
0.03
|
|
(1.17)
|
|
0.05
|
|
0.01
|
|
Net earnings/(loss)
per ordinary share attributable to
ordinary shareholder -
diluted
|
0.03
|
|
0.24
|
|
0.03
|
|
(1.17)
|
|
0.05
|
|
0.01
|
|
Net
earnings/(loss)
per ADS attributable to ordinary
shareholders - basic (13
ADS represents 10 Class A ordinary
shares)
|
0.02
|
|
0.18
|
|
0.02
|
|
(0.90)
|
|
0.04
|
|
0.01
|
|
Net
earnings/(loss)
per ADS attributable to ordinary
shareholders - diluted (13
ADS represents 10 Class A ordinary
shares)
|
0.02
|
|
0.18
|
|
0.02
|
|
(0.90)
|
|
0.04
|
|
0.01
|
|
Weighted average number
of ordinary shares used in computing earnings/(loss)
per share, basic*
|
82,946,796
|
|
76,842,709
|
|
76,842,709
|
|
82,578,596
|
|
78,001,149
|
|
78,001,149
|
|
Weighted average number
of ordinary shares used in computing earnings/(loss)
per share, diluted*
|
83,027,281
|
|
77,210,781
|
|
77,210,781
|
|
82,578,596
|
|
78,402,636
|
|
78,402,636
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based
compensation expenses included in:
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of services and
others
|
(2,007)
|
|
(418)
|
|
(57)
|
|
(7,303)
|
|
(1,635)
|
|
(224)
|
|
Sales and
marketing expenses
|
(670)
|
|
(533)
|
|
(73)
|
|
(6,342)
|
|
(2,850)
|
|
(391)
|
|
General and
administrative expenses
|
(4,521)
|
|
11,164
|
|
1,530
|
|
(14,684)
|
|
(10,400)
|
|
(1,425)
|
|
Research and
development expenses
|
(428)
|
|
(1,454)
|
|
(199)
|
|
(7,498)
|
|
(3,636)
|
|
(498)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* 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 Nine Months
Ended
|
|
September
30,
2022
|
|
September
30, 2023
|
|
September
30, 2023
|
|
September
30, 2022
|
|
September
30, 2023
|
|
September
30, 2023
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP loss from
operations
|
(7,351)
|
|
(1,992)
|
|
(273)
|
|
(127,150)
|
|
(56,143)
|
|
(7,694)
|
|
|
Add back: Share-based
compensation expenses
|
7,626
|
|
(8,759)
|
|
(1,201)
|
|
35,827
|
|
18,521
|
|
2,538
|
|
|
Non-GAAP income/(loss) from
operations
|
275
|
|
(10,751)
|
|
(1,474)
|
|
(91,323)
|
|
(37,622)
|
|
(5,156)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP
net
income/(loss) attributable to So-Young
International Inc.
|
2,310
|
|
18,305
|
|
2,509
|
|
(96,827)
|
|
3,779
|
|
519
|
|
|
Add back: Share-based
compensation expenses
|
7,626
|
|
(8,759)
|
|
(1,201)
|
|
35,827
|
|
18,521
|
|
2,538
|
|
|
Non-GAAP
net income/(loss) attributable to
So-Young International Inc.
|
9,936
|
|
9,546
|
|
1,308
|
|
(61,000)
|
|
22,300
|
|
3,057
|
|
View original
content:https://www.prnewswire.com/news-releases/so-young-reports-unaudited-third-quarter-2023-financial-results-301993327.html
SOURCE So-Young International Inc.
