So-Young Q2 revenue falls 7%, swings to net loss

Overview

• So-Young Q2 2025 rev falls 7% yr/yr to RMB378.7 mln

• Aesthetic treatment services rev rises 426.1% due to center expansion

• Company reports Q2 net loss of RMB34.8 mln, compared to net income last year

Outlook

• Company expects Q3 aesthetic treatment revenue between RMB150 mln and RMB170 mln

• So-Young projects 230.5% to 274.6% revenue growth in Q3 aesthetic services

• Company aims to operate 50 aesthetic centers by year-end

• So-Young focuses on expanding aesthetic center network for long-term growth

Result Drivers

• CENTER EXPANSION - Revenue from aesthetic treatment services rose 426.1% due to expansion of branded aesthetic centers

• DECLINE IN SUBSCRIPTIONS - Total revenue fell 7% as fewer medical service providers subscribed to information services

• COST INCREASE - Costs rose due to business expansion of branded aesthetic centers, impacting net loss

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the online services peer group is "buy."

• Wall Street's median 12-month price target for So-Young International Inc is $7.80, about 37.9% above its August 14 closing price of $4.84

Press Release: ID:nPnbVZmwka