So-Young International Inc. (SY)

So-Young International Income Statement

Financials in millions CNY. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	1,417	1,467	1,498	1,258	1,692	1,295
Revenue Growth (YoY)	-5.63%	-2.09%	19.09%	-25.68%	30.69%	12.45%
Cost of Revenue	631.19	567.59	544.34	393.29	327.89	212.21
Gross Profit	785.86	899.11	953.69	864.58	1,365	1,083
Selling, General & Admin	784.53	818.57	811.22	732.3	1,045	910.28
Research & Development	146.23	165.03	203.52	235.09	286.57	229.19
Operating Expenses	930.76	983.6	1,015	967.39	1,331	1,139
Operating Income	-144.89	-84.48	-61.05	-102.81	33.31	-56.69
Interest & Investment Income	45.68	57.53	60.85	33.15	28.26	53.27
Earnings From Equity Investments	-10.74	-15.02	-12.72	-17.22	-1.52	-4.28
Currency Exchange Gain (Loss)	0.43	0.11	-0.66	-0.49	-4.77	-1.12
Other Non Operating Income (Expenses)	6.31	1.13	21.9	8.25	12.04	8.92
EBT Excluding Unusual Items	-103.22	-40.73	8.31	-79.13	67.32	0.09
Impairment of Goodwill	-540.01	-540.01	-	-	-48.5	-
Gain (Loss) on Sale of Investments	-7.35	-7.35	-0.44	-7.95	-17.85	-
Asset Writedown	-	-	-	-	-17.38	-
Pretax Income	-650.58	-588.09	7.87	-87.07	-16.41	0.09
Income Tax Expense	4.5	-0.91	-18.08	-20.97	21.23	-4.78
Earnings From Continuing Operations	-655.07	-587.18	25.94	-66.11	-37.64	4.88
Minority Interest in Earnings	-1.34	-2.35	-4.66	0.55	29.27	0.93
Net Income	-656.41	-589.53	21.28	-65.55	-8.37	5.81
Net Income to Common	-656.41	-589.53	21.28	-65.55	-8.37	5.81
Net Income Growth	-	-	-	-	-	-96.71%
Shares Outstanding (Basic)	102	103	101	107	106	106
Shares Outstanding (Diluted)	102	103	101	107	106	109
Shares Change (YoY)	0.19%	1.70%	-5.58%	1.21%	-2.51%	32.34%
EPS (Basic)	-6.42	-5.71	0.21	-0.61	-0.08	0.05
EPS (Diluted)	-6.42	-5.72	0.21	-0.61	-0.08	0.05
EPS Growth	-	-	-	-	-	-96.50%
Free Cash Flow	-	-88.18	-28.68	-128.58	39.23	142.22
Free Cash Flow Per Share	-	-0.85	-0.28	-1.20	0.37	1.31
Gross Margin	55.46%	61.30%	63.66%	68.73%	80.63%	83.61%
Operating Margin	-10.22%	-5.76%	-4.08%	-8.17%	1.97%	-4.38%
Profit Margin	-46.32%	-40.19%	1.42%	-5.21%	-0.50%	0.45%
Free Cash Flow Margin	-	-6.01%	-1.91%	-10.22%	2.32%	10.98%
EBITDA	-99.06	-38.57	-14.96	-55.72	63.39	-42.61
EBITDA Margin	-6.99%	-2.63%	-1.00%	-4.43%	3.74%	-3.29%
D&A For EBITDA	45.83	45.92	46.09	47.09	30.08	14.09
EBIT	-144.89	-84.48	-61.05	-102.81	33.31	-56.69
EBIT Margin	-10.22%	-5.76%	-4.08%	-8.17%	1.97%	-4.38%
Revenue as Reported	1,417	1,467	1,498	1,258	1,692	1,295
Advertising Expenses	-	188.23	270.3	254.89	570.35	555.26

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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