Q4 2025 So-Young International Inc Earnings Call Transcript
Key Points
- Total revenue for Q4 2025 reached RMB451 million, marking a 25% year-over-year increase and a record high for quarterly revenue.
- Revenue from the aesthetic center business surged by over 205% year-over-year, becoming the largest revenue-contributing segment.
- The company opened 49 medical aesthetic centers by the end of 2025, ranking first nationwide by center count.
- Verified treatment visits and aesthetic treatments performed saw significant year-over-year increases of 178% and 168%, respectively.
- The company plans to open at least 35 new centers in 2026, focusing on core cities and expanding into second-tier cities, with a strategy to improve profitability while expanding.
- Information and reservation services revenues decreased by 26.8% year-over-year due to fewer medical service providers subscribing to the platform.
- Sales of medical products and maintenance services revenues fell by 19.9% year-over-year, attributed to a decrease in order volume for medical equipment.
- Other services revenues dropped by 40.7% year-over-year, primarily due to a decrease in revenues from So-Young Prime.
- The company reported a net loss of RMB108.8 million for Q4 2025, although this was an improvement from the previous year's loss.
- Cash and cash equivalents decreased from RMB1,253.2 million at the end of 2024 to RMB936.4 million at the end of 2025, reflecting accelerated investment in expansion.
Ladies and gentlemen, thank you for standing by for So-Young fourth quarter and full year 2025 earnings conference call. (Operator Instructions) As a reminder, today's conference call is being recorded.
I will now like to turn the meeting over to your host for today's call, Ms. Mona Qiao. Please proceed, Mona.
Thank you, operator, and thank you everyone for joining So-Young fourth quarter and for your 2025 earnings conference call. Joining me today on the call is Mr. Xing Jin, our Founder, Chairman and CEO; and Ms. [Zhang Sha], VPO Finance.
Before we begin, please refer to the cover statement in our earnings releases, which applies to this call and we'll be making for the location. Statement. Please also note that we will discuss non-GAAP measures today which are more thoroughly explained and reconciled to the most comparable measures reported on the GAAP in our earnings rates on our Investor Relations website and filings with SEC.
Please also note, often years mentioned in
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
