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NASDAQ · SERVICES-COMPUTER PROCESSING & DATA PREPARATION · MID CAP

So-Young International Inc. SY

9 fiscal years on record · CNY · FY2025 reported · SEC filings only
CNY 1.5B
▲ 3.9% YoY
CNY -242.3M
CNY -302.0M
In brief

What this company does

So-Young operates an online platform that curates aesthetic treatment information and facilitates online reservations, a network of branded aesthetic centers where consumers receive treatments, and develops, produces and distributes non-surgical medical aesthetic products such as optoelectronic medical equipment and injectable products. Consumers can access its services via mobile app, Weixin mini program and website, including approximately 1.2 million private domain consumers who benefit from direct and frequent interactions supported by its in-house coverage and support. As of December 31, 2025, there were over 15,800 aesthetic practitioners on its platform. As of December 31, 2025, its research and development team had 213 employees. For aesthetic treatments reserved through its platform, it typically charges a reservation fee of approximately 10% or 30% of the total service amount. Its subsidiary Wuhan Miracle provides light therapy devices that use specific wavelengths of light to support treatment of various medical conditions. So-Young launched in November 2013 as a digital platform where consumers could access information and share their experiences.

Written from the business description in So-Young International Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 23 April 2026. Every sentence was checked against that document before publication.

Growth
CNY 1.5B
Revenue, FY2025 · full 9-year series below
Revenue CNY B Net income CNY B
FY2025 · Revenue 1.5 · Net income -0.2
0.8B1.6B-0.2B-0.4B201720182019202020212022202320242025
Compound annual growth
+6.6%
+3.3%
+34.0%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +3.3% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−16 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -18.8% · Net -16.2%
5%10%15%-20%-40%201720182019202020212022202320242025
ROE
FY2025 · ROE -14.3%
5%10%15%-10%-20%201720182019202020212022202320242025

Each CNY of equity lost 14 cents this year.

Cash & shareholders
CNY 34.3M
returned in FY2025 · dividends + net buybacks
Free cash flow CNY M
FY2025 · FCF -302.0
200M-200M201720182019202020212022202320242025
Net buybacks CNY M Dividends CNY M
FY2025 · Dividends 19.0 · Net buybacks 15.3
80M160MDividendsNet buybacks20212022202320242025

CNY 19.0M in dividends and CNY 15.3M in buybacks went back to shareholders in a year without profit.

Total assetsCNY 2.6B
EquityCNY 1.6B
CashCNY 418.2M
Gross debtCNY 39.8M
Net debtCNY -378.4M
Current ratio1.89×

The company holds more cash than debt.

The 9-year record
9 fiscal years
Every figure from documents filed with the SEC · CNY

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 202520242023202220212020201920182017
Revenue CNY B1.51.51.51.31.71.31.20.60.3
Operating income CNY B−0.3−0.6−0.1−0.1−0.0−0.10.10.00.0
EBITDA CNY B−0.2−0.6−0.0−0.1−0.0−0.00.20.10.0
Income tax CNY B0.0−0.0−0.0−0.00.0−0.00.00.0−0.0
Net income CNY B−0.2−0.60.0−0.1−0.00.00.20.10.0
Free cash flow CNY B−0.3−0.1−0.0−0.10.00.10.30.20.1
EPS, diluted CNY ·········
Dividend / sh CNY ·········
Payout %−8−7·······
ROE %−14.3−27.50.9−2.7−0.30.215.5··
Shares out B·····0.07···

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Compare

This company against its peers

Provenance
Company facts, as filed
How we verify · 0 failures in 34 reconciliationsAUDITED

Reconciled in 9 of 19 fiscal years. 61 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityServices-Computer Processing & Data Preparation
Listed onNASDAQ
Incorporated inoutside the United States — SEC code E9
Fiscal year endsDecember 31
Data on record since2017

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