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20-F

Annual Report (Foreign)

So-Young International Inc. SY

0001104659-26-047129

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Filed
Apr 23, 2026 12:00 AM ET
Period of report

On SEC.gov

Financials in this filing

Metric Period Value
Shares Diluted FY 2025 · Dec 31, 2025 77.86M sh
Shares Diluted FY 2025 · Dec 31, 2024 79.38M sh
Shares Diluted FY 2025 · Dec 31, 2023 78.05M sh
Stock Repurchased FY 2025 · Dec 31, 2025 $2.18M
Stock Repurchased FY 2025 · Dec 31, 2025 ¥15.25M
Stock Repurchased FY 2025 · Dec 31, 2024 ¥18.24M
Stock Repurchased FY 2025 · Dec 31, 2023 ¥125.62M
Dividends Paid FY 2025 · Dec 31, 2025 $2.72M
Dividends Paid FY 2025 · Dec 31, 2025 ¥19.03M
Dividends Paid FY 2025 · Dec 31, 2024 ¥43.57M
Capex FY 2025 · Dec 31, 2025 $28.12M
Capex FY 2025 · Dec 31, 2025 ¥196.62M
Capex FY 2025 · Dec 31, 2024 ¥62.55M
Capex FY 2025 · Dec 31, 2023 ¥51.18M
Operating Cash Flow FY 2025 · Dec 31, 2025 −$15.07M
Operating Cash Flow FY 2025 · Dec 31, 2025 −¥105.39M
Operating Cash Flow FY 2025 · Dec 31, 2024 −¥25.63M
Operating Cash Flow FY 2025 · Dec 31, 2023 ¥22.5M
Short Term Debt FY 2025 · Dec 31, 2025 $5.69M
Short Term Debt FY 2025 · Dec 31, 2025 ¥39.81M
Short Term Debt FY 2025 · Dec 31, 2024 ¥69.77M
Cash And Equivalents FY 2025 · Dec 31, 2025 $59.8M
Cash And Equivalents FY 2025 · Dec 31, 2025 ¥418.21M
Cash And Equivalents FY 2025 · Dec 31, 2024 ¥587.75M
Cash And Equivalents FY 2025 · Dec 31, 2023 ¥426.12M
Stockholders Equity FY 2025 · Dec 31, 2025 $222.12M
Stockholders Equity FY 2025 · Dec 31, 2025 ¥1.55B
Stockholders Equity FY 2025 · Dec 31, 2024 ¥1.84B
Current Liabilities FY 2025 · Dec 31, 2025 $112.12M
Current Liabilities FY 2025 · Dec 31, 2025 ¥784.05M
Current Liabilities FY 2025 · Dec 31, 2024 ¥630.21M
Total Liabilities FY 2025 · Dec 31, 2025 $140.26M
Total Liabilities FY 2025 · Dec 31, 2025 ¥980.82M
Total Liabilities FY 2025 · Dec 31, 2024 ¥776.43M
Current Assets FY 2025 · Dec 31, 2025 $212.3M
Current Assets FY 2025 · Dec 31, 2025 ¥1.48B
Current Assets FY 2025 · Dec 31, 2024 ¥1.72B
Total Assets FY 2025 · Dec 31, 2025 $378.89M
Total Assets FY 2025 · Dec 31, 2025 ¥2.65B
Total Assets FY 2025 · Dec 31, 2024 ¥2.74B
Rd Expense FY 2025 · Dec 31, 2025 $19.6M
Rd Expense FY 2025 · Dec 31, 2025 ¥137.04M
Rd Expense FY 2025 · Dec 31, 2024 ¥165.03M
Rd Expense FY 2025 · Dec 31, 2023 ¥203.52M
Net Income FY 2025 · Dec 31, 2025 −$34.65M
Net Income FY 2025 · Dec 31, 2025 −¥242.3M
Net Income FY 2025 · Dec 31, 2024 −¥589.53M
Net Income FY 2025 · Dec 31, 2023 ¥21.28M
Operating Income FY 2025 · Dec 31, 2025 −$40.92M
Operating Income FY 2025 · Dec 31, 2025 −¥286.18M
Operating Income FY 2025 · Dec 31, 2024 −¥624.49M
Operating Income FY 2025 · Dec 31, 2023 −¥61.05M
Gross Profit FY 2025 · Dec 31, 2025 $104.06M
Gross Profit FY 2025 · Dec 31, 2025 ¥727.69M
Gross Profit FY 2025 · Dec 31, 2024 ¥899.11M
Gross Profit FY 2025 · Dec 31, 2023 ¥953.69M
Cost Of Revenue FY 2025 · Dec 31, 2025 $113.79M
Cost Of Revenue FY 2025 · Dec 31, 2025 ¥795.72M
Cost Of Revenue FY 2025 · Dec 31, 2024 ¥567.59M
Cost Of Revenue FY 2025 · Dec 31, 2023 ¥544.34M