Total liabilities and shareholders'
equity 3,197,873 3,214,565 452,761
========= ========= ========
SO-YOUNG INTERNATIONAL INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands, except for share and per share data)
For the Three Months Ended For the Fiscal Year Ended
------------------------------ -----------------------------------
December
December December 31, December December December
31, 2022 31, 2023 2023 31, 2022 31, 2023 31, 2023
--------- --------- -------- --------- ----------- ---------
RMB RMB US$ RMB RMB US$
Revenues:
Information services and
others 231,517 268,078 37,758 870,140 1,063,178 149,745
Reservation services 25,966 20,589 2,900 128,668 101,313 14,270
Sales of medical products
and maintenance services 67,663 101,899 14,352 259,066 333,538 46,978
--------- --------- -------- --------- ----------- ---------
Total revenues 325,146 390,566 55,010 1,257,874 1,498,029 210,993
Cost of revenues:
Cost of services and others (54,203) (94,079) (13,251) (253,531) (385,582) (54,308)
Cost of medical products
sold and maintenance
services (33,999) (43,555) (6,135) (139,761) (158,754) (22,360)
--------- --------- -------- --------- ----------- ---------
Total cost of revenues (88,202) (137,634) (19,386) (393,292) (544,336) (76,668)
--------- --------- -------- --------- ----------- ---------
Gross profit 236,944 252,932 35,624 864,582 953,693 134,325
Operating expenses:
Sales and marketing
expenses (98,358) (126,175) (17,771) (472,092) (520,451) (73,304)
General and administrative
expenses (73,175) (86,668) (12,207) (260,208) (290,765) (40,953)
Research and development
expenses (41,066) (44,993) (6,337) (235,087) (203,524) (28,666)
Total operating expenses (212,599) (257,836) (36,315) (967,387) (1,014,740) (142,923)
--------- --------- -------- --------- ----------- ---------
Income/(loss) from
operations 24,345 (4,904) (691) (102,805) (61,047) (8,598)
Other income/(expenses):
Investment income, net 267 1,135 160 4,264 12,004 1,691
Interest income 10,276 10,820 1,524 28,883 48,843 6,879
Exchange gains/(losses) 23 389 55 (492) (662) (93)
Impairment of long-term
investment - (444) (63) (7,945) (444) (63)
Share of losses of equity
method investee (6,215) (2,031) (286) (17,223) (12,723) (1,792)
Others, net 646 3,424 482 8,246 21,898 3,084
--------- --------- -------- --------- ----------- ---------
Income/(loss) before tax 29,342 8,389 1,181 (87,072) 7,869 1,108
Income tax benefits 2,423 10,835 1,526 20,965 18,075 2,546
--------- --------- -------- --------- ----------- ---------
Net income/(loss) 31,765 19,224 2,707 (66,107) 25,944 3,654
Net (income)/loss
attributable to
noncontrolling interests (492) (1,723) (243) 553 (4,664) (657)
Net
income/(loss) attributable
to So-Young International
Inc. 31,273 17,501 2,464 (65,554) 21,280 2,997
========= ========= ======== ========= =========== =========
SO-YOUNG INTERNATIONAL INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Continued)
(Amounts in thousands, except for share and per share data)
For the Three Months Ended For the Fiscal Year Ended
---------------------------------- ----------------------------------
December December December December December December
31, 2022 31, 2023 31, 2023 31, 2022 31, 2023 31, 2023
---------- ---------- ---------- ---------- ---------- ----------
RMB RMB US$ RMB RMB US$
Net
earnings/(loss) per
ordinary share
Net earnings/(loss)
per ordinary share
attributable to
ordinary
shareholder -
basic 0.38 0.23 0.03 (0.79) 0.27 0.04
Net earnings/(loss)
per ordinary share
attributable to
ordinary
shareholder -
diluted 0.38 0.23 0.03 (0.79) 0.27 0.04
Net earnings/(loss)
per ADS
attributable to
ordinary
shareholders -
basic (13 ADS
represents 10 Class
A ordinary shares) 0.29 0.18 0.03 (0.61) 0.21 0.03
Net earnings/(loss)
per ADS
attributable to
ordinary
shareholders -
diluted (13 ADS
represents 10 Class
A ordinary shares) 0.29 0.18 0.03 (0.61) 0.21 0.03
Weighted average
number of ordinary
shares used in
computing
earnings/(loss)
per share,
basic* 82,925,288 76,584,151 76,584,151 82,665,269 77,646,899 77,646,899
Weighted average
number of ordinary
shares used in
computing
earnings/(loss)
per share,
diluted* 83,083,826 77,011,890 77,011,890 82,665,269 78,054,950 78,054,950
Share-based
compensation
expenses included
in:
Cost of revenues (979) (165) (23) (8,282) (1,800) (254)
Sales and marketing
expenses (439) (2,830) (399) (6,781) (5,680) (800)
General and
administrative
expenses (4,337) (13,190) (1,858) (19,021) (23,590) (3,323)
Research and
development
expenses (1,754) (1,615) (227) (9,252) (5,251) (740)
* Both Class A and Class B ordinary shares are included in the calculation of the weighted
average number of ordinary shares outstanding, basic and diluted.
SO-YOUNG INTERNATIONAL INC.
Reconciliation of GAAP and Non-GAAP Results
(Amounts in thousands, except for share and per share data)
For the Three Months Ended For the Fiscal Year Ended
---------------------------- -------------------------------
December December December December December
31, 31, 31, December 31, 31,
2022 2023 2023 31, 2022 2023 2023
-------- -------- -------- --------- -------- --------
RMB RMB US$ RMB RMB US$
GAAP income/(loss) from
operations 24,345 (4,904) (691) (102,805) (61,047) (8,598)
Add back: Share-based
compensation expenses 7,509 17,800 2,507 43,336 36,321 5,117
Non-GAAP income/(loss) from
operations 31,854 12,896 1,816 (59,469) (24,726) (3,481)
======== ======== ======== ========= ======== ========
GAAP net
income/(loss) attributable
to So-Young International
Inc. 31,273 17,501 2,464 (65,554) 21,280 2,997
Add back: Share-based
compensation expenses 7,509 17,800 2,507 43,336 36,321 5,117
Non-GAAP net income/(loss)
attributable to So-Young
International Inc. 38,782 35,301 4,971 (22,218) 57,601 8,114
======== ======== ======== ========= ======== ========
View original content:https://www.prnewswire.com/news-releases/so-young-reports-unaudited-fourth-quarter-and-fiscal-year-2023-financial-results-302094341.html
SOURCE So-Young International Inc.
(END) Dow Jones Newswires
March 20, 2024 05:30 ET (09:30 GMT)
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