So Young (SY.US) released its unaudited financial results for the second quarter ended June 30, 2025, before U.S. market opening on Friday. The financial report showed that So Young's Q2 revenue reached 378.7 million RMB, down 7.0% year-over-year, which exceeded market expectations. ADS loss per share was 0.35 RMB, compared to ADS earnings of 0.18 RMB per share in the same period last year. Following the earnings announcement, So Young fell more than 10% in pre-market trading. As of press time, So Young was down 10.74%, trading at $4.32.

Net loss attributable to So Young was 36 million RMB, compared to net profit attributable to So Young of 18.9 million RMB in the same period last year. So Young attributed the revenue decline primarily to a reduction in the number of medical service providers subscribing to So Young's platform information services.

By business segment, beauty treatment services revenue was 144.4 million RMB, up 426.1% year-over-year; information and booking services revenue was 135.2 million RMB, down 35.6% year-over-year; medical product and maintenance service sales were 76 million RMB, down 28.1% year-over-year; and other service revenue was 23.2 million RMB, down 64.0% year-over-year.

In Q2, the total transaction value of medical aesthetic treatments facilitated by So Young's platform was 303.9 million RMB, compared to 427.8 million RMB in the same period of 2024. This quarter, verified treatment sessions at brand aesthetic centers exceeded 67,400, compared to approximately 14,000 in the same period of 2024. The number of verified paid aesthetic procedures exceeded 154,500, compared to approximately 27,600 in the same period of 2024.

For the 12-month period ended June 30, 2025, the number of active users (defined as users who visited brand aesthetic centers at least once) exceeded 100,400, compared to approximately 16,000 in the same period of 2024.

As of June 30, 2025, So Young operated 29 fully operational brand aesthetic centers across nine major cities including Beijing, Shanghai, Guangzhou, Shenzhen, Hangzhou, Chengdu, Wuhan, Chongqing, and Changsha. Among these, 25 centers achieved positive monthly operating cash flow.

For Q3 2025 guidance, So Young expects beauty treatment services revenue to be between 150 million RMB and 170 million RMB, representing an increase of 230.5% to 274.6% compared to the same period in 2024.