So-Young's Remarkable Growth in Q2 Financial Results Explained
So-Young International Inc. Reports Second Quarter Financial Insights
So-Young International Inc. (SY), known for its leadership as an aesthetic treatment platform, has recently unveiled its financial results for the second quarter that highlights impressive growth despite certain challenges. This report covers key financial and operational metrics that underline the company's robust position in the aesthetic treatments industry.
Overview of Second Quarter 2025 Financial Performance
During the second quarter, So-Young's total revenues reached RMB378.7 million (approximately US$52.9 million). This marked a decrease from RMB407.4 million in the same quarter last year, primarily attributed to a reduction in the number of medical service providers utilizing the company's information services platform.
Key Financial Highlights
- The revenue from aesthetic treatment services was a standout at RMB144.4 million (US$20.2 million), exhibiting a remarkable 426.1% increase compared to RMB27.4 million in Q2 of 2024. This growth is attributed to the expansion of So-Young's aesthetic centers.
- Despite the revenue decline in some areas, the net loss attributable to So-Young International Inc. stood at RMB36.0 million (US$5.0 million), in contrast to a net income of RMB18.9 million in Q2 of the previous year.
- On a Non-GAAP basis, the net loss for the quarter was RMB30.5 million (approximately US$4.3 million), compared to a Non-GAAP net income of RMB22.2 million for the same period last year.
Operational Developments in Q2 2025
Operationally, So-Young facilitated aesthetic treatment transactions valued at RMB303.9 million, though this was lower than the RMB427.8 million recorded in 2024. However, the number of verified treatment visits to branded aesthetic centers exceeded 67,400, a significant leap from the approximately 14,000 visits from last year's quarter.
Expansion of Aesthetic Centers
- During the quarter, verified paid aesthetic treatments performed went beyond 154,500, surpassing the 27,600 treatments conducted last year.
- By the end of the quarter, So-Young operated 29 fully functional branded aesthetic centers across nine major metropolitan areas, including cities known for their vibrant markets. Notably, 25 of these centers are generating positive monthly operating cash flow.
Looking Ahead: Strategic Initiatives
Mr. Xing Jin, the Co-Founder and CEO, emphasized that So-Young's branded centers are now their largest revenue contributor, symbolizing a pivotal moment in their strategy. The company aims to operate 50 aesthetic centers by year-end 2025 to capture further market share and consolidate their leading position.
Market Position and Future Prospects
The developments showcase So-Young's commitment to providing standardized aesthetic services and bolstering consumer trust through a diverse portfolio of proprietary products. As they continue to navigate the market's evolving landscape, the focus remains on scaling their aesthetic center footprint and enhancing consumer engagement for long-term value creation.
Cash Position and Guidance
As of June 30, 2025, So-Young's cash and cash equivalents amounted to RMB998.6 million (about US$139.4 million), down from RMB1,253.2 million towards the end of the previous fiscal year. Moving forward, the company expects a promising outlook for the third quarter, projecting aesthetic treatment service revenues to fall between RMB150 million to RMB170 million, signifying anticipated strong growth in this segment.
Frequently Asked Questions
What were the total revenues for So-Young in the second quarter of 2025?
Total revenues reached RMB378.7 million (US$52.9 million).
How did the revenue from aesthetic treatment services perform?
It amounted to RMB144.4 million (US$20.2 million), marking a substantial increase of 426.1% from the previous year.
What was the net loss for the quarter?
The net loss attributable to So-Young International Inc. was RMB36.0 million (US$5.0 million).
How many branded aesthetic centers does So-Young operate?
So-Young operates 29 fully functional branded aesthetic centers across nine major metropolitan areas.
What is the company's outlook for the upcoming quarter?
So-Young anticipates aesthetic treatment service revenues to range between RMB150 million and RMB170 million for the next quarter.
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