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So-Young International (SY) investor relations material
So-Young International Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary15 Aug, 2025
Executive summary
Total revenue for Q2 2025 was RMB378.7 million, down 7% year-over-year, mainly due to fewer medical service providers subscribing to information services.
Aesthetic treatment services revenue surged 426.1% year-over-year to RMB144.4 million, making branded centers the largest segment for the first time.
Net loss attributable to shareholders was RMB36 million, compared to net income of RMB18.9 million in Q2 2024; non-GAAP net loss was RMB30.5 million versus non-GAAP net income of RMB22.2 million last year.
Over 100,400 active users visited branded centers in the past 12 months, up from 16,000 in the prior year.
The company is in a critical phase of strategic transition, focusing on branded and staffing center growth, network expansion, and operational efficiency.
Financial highlights
Aesthetic treatment services revenue rose 426.1% year-over-year to RMB144.4 million, exceeding guidance.
Information and reservation services revenue fell 35.6% year-over-year to RMB135.2 million; sales of medical products and maintenance services dropped 28.1% to RMB76 million.
Cost of revenues rose 19% year-over-year to RMB184.6 million, driven by branded center expansion.
Gross profit for Q2 2025 was RMB194.2 million, down from RMB252.3 million in Q2 2024.
Basic and diluted losses per ADS were RMB0.35, compared to earnings of RMB0.18 per ADS in Q2 2024.
Outlook and guidance
Q3 2025 aesthetic treatment services revenue expected between RMB150 million and RMB170 million, up 230.5% to 274.6% year-over-year.
The company targets 50 aesthetic centers by year-end and plans to open around 10 new centers in Q3, expanding into both first- and second-tier cities.
Long-term goal is to reach 1,000 centers within 8–10 years, with franchise pilots planned for Q4 2025.
Guidance reflects ongoing investments and current market conditions and is subject to change.
Detail So-Young's network expansion plan.
Assess China's medical aesthetics market growth.
Discuss strategy for POP business development.
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Next So-Young International earnings date
Q3 202519 Nov, 2025
Next So-Young International earnings date
Q3 202519 Nov, 2025
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Frequently asked questions
So-Young International Inc. is a an online platform in the medical aesthetics industry. The company primarily operates through its mobile app and website, providing users with a comprehensive suite of services that include detailed information on medical aesthetic treatments, reviews, and ratings of service providers, as well as community interaction and social networking features. So-Young International facilitates connections between consumers and certified medical professionals, enabling appointments and consultations through its platform. The company is headquartered in Beijing, China, and its shares are listed on the NASDAQ.
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