So-Young International Income Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	1,523	1,467	1,498	1,258	1,692
Revenue Growth (YoY)	3.87%	-2.09%	19.09%	-25.68%	30.69%
Cost of Revenue	795.72	567.59	544.34	393.29	327.89
Gross Profit	727.69	899.11	953.69	864.58	1,365
Selling, General & Admin	857.11	818.57	811.22	732.3	1,045
Research & Development	137.04	165.03	203.52	235.09	286.57
Other Operating Expenses	19.71	540.01	-	-	65.88
Total Operating Expenses	1,014	1,524	1,015	967.39	1,397
Operating Income	-286.18	-624.49	-61.05	-102.81	-32.57
Interest Income	25.29	57.53	60.85	33.15	28.26
Other Non-Operating Income (Expense)	14.77	-21.12	8.07	-17.41	-12.09
Total Non-Operating Income (Expense)	40.07	36.41	68.92	15.73	16.17
Pretax Income	-246.11	-588.09	7.87	-87.07	-16.41
Provision for Income Taxes	-0.8	0.91	18.08	20.97	-21.23
Net Income	-251.51	-584.84	30.61	-66.66	-8.37
Minority Interest in Earnings	4.6	-2.35	-4.66	0.55	29.27
Net Income to Common	-251.51	-584.84	30.61	-66.66	-8.37
Shares Outstanding (Basic)	101	103	101	107	106
Shares Outstanding (Diluted)	101	103	101	107	106
Shares Change (YoY)	-1.92%	1.70%	-5.58%	1.21%	-2.51%
EPS (Basic)	-2.39	-5.72	0.21	-0.61	-0.08
EPS (Diluted)	-2.39	-5.72	0.21	-0.61	-0.08
Shares Outstanding	100.22	100.96	98.05	105.1	81.09
Free Cash Flow	-302.01	-88.18	-28.68	-128.58	39.23
Free Cash Flow Growth	-	-	-	-	-72.41%
Free Cash Flow Per Share	-2.98	-0.85	-0.28	-1.20	0.37
Gross Margin	47.77%	61.30%	63.66%	68.73%	80.63%
Operating Margin	-18.79%	-42.58%	-4.08%	-8.17%	-1.92%
Profit Margin	-16.21%	-40.03%	1.73%	-5.26%	-2.22%
FCF Margin	-19.82%	-6.01%	-1.91%	-10.22%	2.32%
EBITDA	-228.97	-578.57	-14.96	-55.72	-2.49
EBITDA Margin	-15.03%	-39.45%	-1.00%	-4.43%	-0.15%
EBIT	-286.18	-624.49	-61.05	-102.81	-32.57
EBIT Margin	-18.79%	-42.58%	-4.08%	-8.17%	-1.92%
Effective Tax Rate	0.32%	-0.15%	229.70%	-24.08%	129.42%

Updated Mar 25, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

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